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Solar projects continue to underperform, resulting in millions of dollars of lost revenues, according to a new report.

Results of a global survey of solar projects in 2022 were shared by Raptor Maps as part of the project lifecycle software company's fifth annual Global Solar Report. Raptor Maps surveyed 24.5 GW of solar PV last year, and found power loss relative to pro forma assumptions contributed to an estimated annual revenue loss of $82 million.

Extrapolated to the entire industry (excluding residential), revenue losses would likely total $2.5 billion, the firm said.

Raptor Maps said that underperformance due to project anomalies has nearly doubled from 1.61% in 2019 to 3.13% in 2022. For sites larger than 200 MW, average underperformance due to anomalies more than tripled since 2019, growing from 1.10% to 4.04% in 2022.

If anomaly driven power loss continued at the rate Raptor Maps observed, losses would grow to almost 6% by 2025.

Polycrystalline modules are more likely to show module-level and submodule-level anomalies on inspection compared to thin-film and monocrystalline modules, according to the analysis.

PNW hit hardest