Globally, over 300 GW of large-scale PV solar power plants have been installed since 2008 - with over 40 GW in the U.S. alone. The performance of these power plants naturally decreases over time as PV modules degrade and as inverters reach their end-of- life and fail. As a result, some systems become a liability while others perform within contractual obligations, though still not at full potential. Consequently, system owners and operators often look for inexpensive ways to repower their existing and aging systems.
Across the United States, Power Purchase Agreement (PPA) contracts are being signed at increasingly lower rates, making it challenging for solar asset owners to maintain a viable return on investment. This has increased the need for developers and owners to fully maximize energy production from photovoltaic (PV) panel systems to meet these competitive PPA targets.