Sunnyvale, CA, March 24, 2012 --(PR.com
)-- Wattminder has achieved significant innovations in analytics on performance of solar power installations. In November 2007, www.pvmonitor.net was developed and offered to the public, as an on-demand, photovoltaic performance benchmark calculator. It still is the world’s first such tool. In October 2011, Wattminder improved on the benchmark calculator with features like Air Mass correction, Tracking option, Aging, and Reflectivity and rolled out its second generation PV Performance Analytics tools, adding Performance Check, and Degradation Assessment; at www.PVwizard.com. These advanced & unique resources are being offered free to the public, during the open beta period. These tools can be effective in helping to detect and remove a growing problem of under-performance in solar power sites around the world, amounting to 20 GWh’s of energy (estimated $5B per year), per IEA's study, that was not generated due to some unknown fault in solar power sites.
Wattminder's value proposition has been validated with 3 SBIR/STTR grants from NSF and DOE Phase I and Phase II; to study failure mechanisms in solar array, focusing on web-based algorithms to detect and diagnose hotspot failure in solar arrays, at low-cost. By using the latest in Programmable System On Chip technology from Cypress Semiconductor, the instrumentation cost for advanced diagnostic monitoring will be less than 2.5 cents per Watt, with non-disruptive installation. The secret sauce, the Complex Irradiance Sensor, without moving parts, will fully capture and characterize Sun’s energy at a PV site, in 9 directional components.
Wattminder is now ready to start commercialization of their IP and build up its Web-IT-PV-Engineering enterprise with their first outside investment, of $5.5 million, expecting to achieve break-even by mid-2015.
The solar industry has grown at the whim of government incentive program, and had achieved over-all yearly growth rate about 50%. Commercial and utility scale projects are driving megawatts of capacity being planned and in development, subject to varying delays in permitting process. In general, there has been little focus on the operations and maintenance aspects. As a result, the practice of photovoltaic generation is in many cases un-disciplined practice, with many solar installations running without oversight. Some estimate the magnitude of under-performance to the tune of 20GWhs. or roughly $5B in un-realized energy production, if extrapolated by the IEA study.
Investor related Executive Summary and Powerpoint presentation are online at the PVwizard.com webpage 'investors'.
For further information please contact Wattminder (links are available at their website, internal-native access).
For more information please contact:
Steve Yang, P.E. Presidentwww.PVwizard.com