DNV’s SolarFarmer offers affordable, scalable solution for solar project bankability

DNV recently completed six solar project financing due diligence assignments in the U.S., totaling 1,195 MW. This marks the first use of DNV’s proprietary SolarFarmer software in the region. SolarFarmer, designed to optimize solar PV design and assessments, provides the speed and precision needed to meet the fast-growing demand for solar energy, particularly as the U.S. solar industry accelerates its growth.

SolarFarmer’s scalable capabilities are vital in the face of the 22-fold increase in solar project installations projected by 2050 in DNV’s 2023 Energy Transition Outlook. Unlike other products, it can handle increased project volume while delivering precise data, benefiting developers and financiers alike. This ensures that solar projects can move forward efficiently, reducing surprises and risks associated with project development.

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Richard S. Barnes, DNV’s regional president for Energy Systems North America, emphasized the importance of SolarFarmer in light of the Inflation Reduction Act (IRA), which has spurred rapid solar expansion in the U.S. The tool’s ability to streamline all stages of project development makes it invaluable in reducing overall project costs and improving decision-making for developers.

DNV’s use of SolarFarmer highlights its commitment to digitalizing the renewable energy sector. With its impressive accuracy and scalability, the software is set to play a crucial role in DNV’s future solar financing projects, helping to meet the growing challenges of solar development across complex terrains.