Drawing from 9.47TW of Data, RatedPower Predicts 2023 Solar and Renewable Trends

Diversification at geographical and energy source levels, as well as storage adoption, emerge as keys success factors for renewables players 

MADRID, March 7, 2023 /PRNewswire/ -- RatedPower, now a part of Enverus, the most trusted energy-dedicated SaaS platform, has released its annual findings derived from nearly 100 diverse industry experts from across the world, and more than 101,000 simulations. According to the results, the focus for 2023 will be on accelerating the adoption of renewable energy power generation, reducing the levelized cost of electricity, fuel diversification and energy storage investment.

After years of falling costs, the renewable industry faced new challenges in 2022 as supply chain disruptions related to the pandemic increased equipment prices and reduced availability. But new global capacity installations continued to rise as the pandemic, coupled with the energy crisis, spurred governments and businesses to increase their investments in clean energy and reduce reliance on fossil fuel imports.

"In the year ahead, we expect the green transition to provide a massive boost to investments in solar photovoltaics (PV) — for residential, commercial and industrial, and for utility-scale installations. The industry is increasingly looking at ways to incorporate battery storage and clean, green hydrogen into renewable installations to maximize supply," said Andrea Barber, vice president of Power & Renewables at Enverus and co-founder of RatedPower, upon release of the report.

To gain further insight into the status of the industry and the key trends for this year and beyond, RatedPower turned to more than 100 experts from energy companies of all sizes from around the world and carried out a comprehensive survey that includes their views on the challenges and prospects ahead. Additionally, the report analyzes data from RatedPower's solar plant simulation software to highlight key trends and top manufacturers around the world in 2022.

"The energy evolution is not clearly mapped out for us; it is a winding, twisting road full of potholes. All these twists, turns and bumps make the market one that is full of risk but, more importantly, of opportunity as well. At Enverus, we continue to work endlessly to eliminate the gaps and help you make intelligent connections between all parts of the project lifecycle from siting through operations, so you can minimize investment risks and maximize returns," added Bernadette Johnson, general manager of Power & Renewables at Enverus.

About Enverus
Enverus is the most trusted, energy-dedicated SaaS platform, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 98% of U.S. energy producers, and more than 35,000 suppliers. Our platform, with intelligent connections, drives more efficient production and distribution, capital allocation, renewable energy development, investment and sourcing, and our experienced industry experts support our customers through thought leadership, consulting and technology innovations. We provide intelligence across the energy ecosystem: renewables, oil and gas, financial institutions, and power and utilities, with more than 6,000 customers in 50 countries. Learn more at Enverus.com.

About RatedPower 
RatedPower, an Enverus company since September 2022, helps companies discover the smartest ways to design and engineer utility-scale solar PV plants and maximize their potential through pvDesign, their software to automate and optimize the study, analysis, design and engineering of photovoltaic plants and its electrical infrastructure in all its stages. Learn more at ratedpower.com.

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