DNV EXPANDS SOLAR FORECASTING EXPERTISE WITH THE ACQUISITION OF SOLAR DATA SPECIALIST SOLCAST
DNV’s Energy Transition Outlook (ETO) forecasts that by 2050 electricity production will more than double and 30% of all electricity will come from solar PV, hence the fast growing need in the energy market for reliable data analytics and trusted monitoring systems.
Oslo, Norway, 2 February 2023: DNV, the independent energy expert and assurance provider, has acquired global solar irradiance data and forecasting provider Solcast to further expand DNV's offering to solar energy customers with digital and data-driven services that help maximize the value of solar power plants globally.
DNV's Energy Transition Outlook (ETO) forecasts that by 2050 electricity production will more than double and 30% of all electricity will come from solar PV, hence the fast growing need in the energy market for reliable data analytics and trusted monitoring systems.
Data company Solcast, based in Sydney, Australia with offices in Asia, Europe and the Americas develops the data and tools needed to plan, construct, operate and manage photovoltaic systems. Solar forecasting enables solar power producers to deliver reliable and resilient electricity to grids across fast-growing markets. The integration of solar forecasting with energy storage brings a unique opportunity allowing customers to plan and later dispatch energy on demand to get the most value out of each solar power plant.
Real-time access to high quality, accurate short-term forecasts enable customers to easily evaluate power plant operations, evaluate losses, and improve plant performance that leads to improved plant and portfolio management, ultimately reducing costs and maximizing system and portfolio productivity.
Solcast uses the latest in global weather satellite imagery, machine learning, computer vision, and historical and forecast data to accurately produce more than 600 million new forecasts every hour in a cloud-based environment and provide real-time access to forecast data with a 5-15-minute resolution via an application programming interface (API).
"As a digital native company with strong domain expertise Solcast fits DNV's strategy to support our customers with trusted data-driven services," said Remi Eriksen, Group President and CEO of DNV. "DNV's Energy Transition Outlook forecasts that solar PV will grow 20-fold by 2050 and this acquisition will help us meet the sharp increase in demand for reliable data analytics and trusted monitoring systems. Digital products, such as those provided by Solcast, are key to unlocking the potential of solar, particularly if we are to meet the goals of the Paris Agreement."
"We are thrilled to be joining DNV," said James Luffman, CEO of Solcast. "Their status as a global and trusted voice, will help us enable energy developers and operators to navigate the complexity and change of the energy transition. This partnership will bring the world's leading solar irradiance and forecasting API to an even larger global audience, whilst maintaining the same level of service that our customers expect."
"DNV is investing in Solcast, and providing expertise and other resources. The result is a huge boost to our effectiveness and impact," said Luffman.
"I extend a warm welcome to the Solcast team. We are excited to combine Solcast's forecast, real-time, and historical data and expertise with DNV's analytics, advisory, monitoring, asset management, and domain knowledge. By joining forces, we take an important step toward even more digital services and data delivery to enable customers to efficiently develop and operate their rapidly growing portfolios in all stages of their solar plants life cycle," said Ditlev Engel, CEO, Energy Systems at DNV.