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According to Wood Mackenzie, annual operating and maintenance (O&M) costs for the solar industry will exceed $9 billion (€8.
2 billion) by 2024, up from about $4.
5 billion
in 2019.
Global cumulative PV power generation is expected to grow from approximately 500 GW of direct current (DC) in 2018 to 1,234 GW
in 2024.
China, India and the United States will be the largest markets
.
The combination of the addition of a large amount of new capacity and the usage time of the currently installed capacity will result in increased operational costs
.
Wood Mackenzie said regular preventive maintenance and corrective repairs would bring in 35 percent and 24 percent
of O&M's total costs, respectively.
Inverter replacement costs, which typically account for 12% to 13% of the average O&M cost of a 50-megawatt solar farm, will approach $1.
2 billion
by 2024.
The market research firm also calculated that unplanned repairs could cost solar plant owners up to $3,000/MW per year, based on solar parks with an average size of 50 MW
.
Leila Garcia da Fonseca, principal analyst at Wood Mackenzie, stressed that solar technology has greatly improved the utilization
of technicians.
A few years ago, a technician could service 20 megawatts of solar, but now this has increased to 40 megawatts to 60 megawatts
.
"As asset owners and operators continue to invest in advanced analytics and O&M-specific software and move away from more time-consuming spreadsheet-based analytics methods, operational costs will be reduced and data quality will be higher
," the analysts said.
However, it doesn't make any sense
to get an expensive advanced analytics platform for older devices.
”
According to Wood Mackenzie, annual operating and maintenance (O&M) costs for the solar industry will exceed $9 billion (€8.
2 billion) by 2024, up from about $4.
5 billion
in 2019.
Global cumulative PV power generation is expected to grow from approximately 500 GW of direct current (DC) in 2018 to 1,234 GW
in 2024.
China, India and the United States will be the largest markets
.
The combination of the addition of a large amount of new capacity and the usage time of the currently installed capacity will result in increased operational costs
.
Wood Mackenzie said regular preventive maintenance and corrective repairs would bring in 35 percent and 24 percent
of O&M's total costs, respectively.
Inverter replacement costs, which typically account for 12% to 13% of the average O&M cost of a 50-megawatt solar farm, will approach $1.
2 billion
by 2024.
The market research firm also calculated that unplanned repairs could cost solar plant owners up to $3,000/MW per year, based on solar parks with an average size of 50 MW
.
Leila Garcia da Fonseca, principal analyst at Wood Mackenzie, stressed that solar technology has greatly improved the utilization
of technicians.
A few years ago, a technician could service 20 megawatts of solar, but now this has increased to 40 megawatts to 60 megawatts
.
"As asset owners and operators continue to invest in advanced analytics and O&M-specific software and move away from more time-consuming spreadsheet-based analytics methods, operational costs will be reduced and data quality will be higher
," the analysts said.
However, it doesn't make any sense
to get an expensive advanced analytics platform for older devices.
”
