Paving the way for a sustainable tomorrow with AI-powered insights and scalable solutions
During the COP28 U.N. climate conference in Dubai last December, government leaders from around the world committed to tripling renewable energy generation capacity. If current policies and market dynamics stay the same, global renewable capacity is expected to reach 7,300 GW by 2028. To hit the 2030 target, governments worldwide must reach a minimum capacity of 11,000 GW.
The good news is that the growth of renewables continues to outpace expectations. The International Energy Agency (IEA) reported that 2023 was another record-setting year of growth, with 510 gigawatts (GW) of renewable generation capacity added. This rapid growth creates new challenges. Not only are the number of sites increasing, but the size of the assets are also growing with increased capacity. The assets and the grid they feed comprise the world’s largest supercomputer with increasingly complex data needs. Additionally, owners, operators, and energy producers are shifting their business models, identifying new revenue streams, while incorporating the latest in innovative technology.
Over the past several years, Power Factors has been on a strategic path to provide the world with a future-ready platform to solve these challenges. Our best-in-class offerings and domain expertise come to life in Unity, Power Factors’ next-generation renewable energy management platform.
Unity uniquely solves the hard problems across the renewable energy value chain — from ensuring high-quality data at scale with AI-powered insights across all assets, faster onboarding for faster time-to-value, integrated applications with a common data model, and providing mission-critical, real-time controls of storage assets to deliver predictable power with the ability to automate commands for optimal market participation.
Unity’s secure, open, scalable architecture is designed to handle the volume, diversity, and velocity of data generated by renewable portfolios. Sitting on top of the Unity technology platform is a comprehensive suite of applications to support the entire asset lifecycle, from development and asset performance to market operations.
Power Factors software solutions are some of the most extensive and widely deployed solutions in the market. With over 275 GW of wind, solar, hydro, and battery energy storage system (BESS) assets managed worldwide across more than 600 customers and 18,000 sites, Power Factors manages 25% of the world’s renewable energy data.*
On average, Power Factors customers see a remarkable 20% annual growth; its largest twelve customers increased their assets under management by 65% over the last three years. Connecting these teams with trusted data and purpose-built tools to optimize portfolio performance, maximize revenue, and realize significant improvements in the levelized cost of energy (LCOE).
Power Factors’ mission-driven team is dedicated to empowering the people who power the world. The company believes in forging strong partnerships with customers and technology experts to ensure a brighter future powered by renewable energy. With the introduction of Unity, Power Factors is poised to lead the industry towards that future.
*Excluding India and China
