PR: Power Factors Launches Drive Pro—Most Advanced Performance Management Platform for Solar Assets
Aligns Asset Owners and Operators to Capture over $600M of Recoverable Losses
September 15, 2020—Power Factors LLC, a leading independent software and services provider for renewable energy, is pleased to announce Drive Pro, the most advanced asset performance management solution for solar assets. Drive Pro provides owners, operators and asset managers with innovative tools to identify and recover PV plant performance losses to maximize portfolio profitability. Based on initial customer testing, Drive Pro enables asset managers of solar portfolios to capture 2 to 5 percent of incremental performance from their fleet of PV power plants. For the 97.1 GW of new installed capacity last year, Drive Pro can capture over $600M of revenue for plant owners.
Today’s rapid renewable portfolio growth and tighter margins necessitate an asset performance management solution that enables solar owners and Independent Service Providers (ISPs) to scale their operations while keeping labor costs down. To do this, owners and ISPs need a solution that both cleanses the imperfect, noisy data from today's solar plants and automatically detects and prioritizes recoverable performance losses. Leveraging the same solution, asset managers and operators can work to recover hidden performance losses sooner to optimize plant performance.
Power Factors partnered with Arevon, a Capital Dynamics affiliate and leading clean energy asset manager with more than 6 GW under management, to ensure Drive Pro addresses real-world problems while delivering top and bottom-line value. Arevon’s regular feedback, alpha testing and insight created a perfect co-innovation environment.
“As a data-driven asset manager, we need a tool that aligns owner and operator project incentives, and we worked with Power Factors to create a solution that enables us to manage assets with the vigilance an owner demands,” said Justin Johnson, President and CEO at Arevon. “Until now, recovering lost performance was a zero-sum game. Drive Pro changes that math by bringing sophisticated insights, improved visibility and a higher level of accountability to the owner/operator relationship, helping us optimize the returns on our diverse portfolio of assets.”
Years in development, Drive Pro grew out of Power Factors’ work under the Department of Energy (DOE) SunShot Initiative to develop a comprehensive loss characterization framework for solar assets. Drive Pro builds on the data foundation established by Power Factors’ Drive solution to deliver advanced analytical insights, closing the loop between asset performance and all aspects of asset management—from plant design to predictive modeling to O&M.
Gary Meyers, CEO of Power Factors, said, “We are excited to change the game in solar asset performance management by giving our customers unprecedented fleet-scale insights they can use to compete more effectively in an industry characterized by squeezing margins and increased pressure to perform. We are grateful to the Arevon team for their partnership in this co-innovation. Their insights, constructive feedback and industry experience have helped make Drive Pro a better product.”
The Drive Pro development effort focused on easy-to-use workflows that answer the question, “Where are we losing energy and what, if anything, should we do to address the loss?” Solving this challenge required a focus on Trust, Time and Tools.
Trust in Data—Provides asset managers, performance engineers and operators with a foundation of trust in the data and models driving their reports, analytics and workflows.
Fleet-Level Assessment in Record Time—With its suite of intelligent and automated tools, Drive Pro drives operational efficiencies, helping owners, asset managers and operators address the problems of scale and lack of time. This is done through automated event management and energy loss allocation (ELA); automated data validation, estimation and editing (VEE); and automated analytics (i.e., detects DC-array losses automatically using only standard plant instrumentation, automatically alerts stakeholders of where the losses are and enables downstream workflow to initiate recovery).
New Tools—Drive Pro comes with a state-of-the-art set of tools and workflows that delivers unprecedented visibility into performance issues and better plant oversight. This is made possible through a combination of machine learning techniques, industry-tested workflows, intuitive role-based visualizations and trustworthy data and models.
Drive Pro adds the following key features to the Power Factors Drive platform in its initial release:
Degraded Classification—Drive Pro enables hands-off trend monitoring and automatic detection of underperformance signatures (soiling, shading or string-level outages) using only AC-metered data and standard plant sensors—all while continuously learning and automatically improving the speed and accuracy of its predictions over time.
Data Capability—Drive Pro runs an automated suite of hundreds of data quality and capability tests across a fleet to identify and automatically remove plant-level data quality and capability issues that would invalidate downstream advanced analytics results. Drive Pro then provides granular detail and recommended actions for each failed test so users can strategically improve portfolio data quality and capability at scale.
Loss Overview—Provides users with a dynamically updated view into the difference between actual production and theoretical maximum production, categorizing all losses and providing powerful drilldowns to understand root cause. Drilldown capabilities allow the user to understand where deviations are occurring and why. This tool targets building trust in performance models so that analysts and asset managers can be sure that perceived performance issues are worthy of attention.
Budget Deviation—Allows users to continuously visualize losses in the context of unfavorable proforma variances to help prioritize recovery initiatives. Budget Deviation can also be used to improve project proforma models and reduce portfolio risk.
Predicted Loss Auditor—Audits manufacturer specifications and improves asset performance models and production estimates by comparing against the true baseline performance of assets at scale.
The Drive Pro solution is available now to new customers and as an upgrade for existing Power Factors Drive customers.
Join Power Factors and Arevon this Thursday, September 17, at 10am ET/3pm CET for a live discussion of how solutions such as Drive Pro enable better performance and lower costs. The webinar, “Every MWh Counts: Find Hidden Losses Faster and Maximize PV Project Returns Across Your Fleet,” is hosted by Reuters Events. Register here: https://bit.ly/31WDKhN.
About Power Factors LLC
Our mission is to deliver software and services to make renewable energy the world’s leading power generation source. Power Factors consolidates multiple operational data sources, asset hierarchies and metadata frameworks to create a single cloud-based remote asset management platform that works with today’s large-scale portfolios. With embedded connections to maintenance workflows, Power Factors streamlines process, reduces costs and increases ROI of assets. Implementation and Customer Success Services ensure customers realize value from the platform quickly and for the life of the asset. Learn more at pfdrive.com and follow us on LinkedIn and Twitter.