Solar Power Technologies
Power optimization, monitoring and control systems for commercial and utility scale solar power sites.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
Established in 2008, Solar Power Technologies, Inc. operated as a developer of monitoring and optimization systems tailored for the large-scale solar energy sector. The company's core business focused on enhancing the financial performance of commercial and utility-scale solar assets. This was achieved through a product ecosystem that combined hardware and software solutions. The business model involved the sale of these integrated systems to owners and developers of large solar arrays.
The company's main offering was the Clarity system, a comprehensive suite of hardware and cloud-based software. The hardware component consisted of monitoring and optimization devices that could be deployed at either the string or individual panel level, providing flexibility based on a client's financial and technical requirements. These devices were designed to maximize energy harvesting from the solar arrays. The software counterpart, branded as the 'Intelligent Array', was a web-based data management and analysis tool. It processed the data from the hardware to deliver detailed performance analysis, diagnose operational impairments, and precisely identify the location of issues down to the panel level with a claimed accuracy of 0.5%.
Financially, Solar Power Technologies secured early-stage venture capital, raising $6.08 million in a Series A round on January 3, 2011, with investors including Austin Ventures and Oxantium Ventures. This funding supported the development and rollout of its products. The company's trajectory culminated in its acquisition by Draker on August 22, 2012, marking its exit as a venture-backed entity.
Keywords: solar asset management, photovoltaic monitoring, solar optimization hardware, large-scale solar, commercial solar, utility-scale solar, Intelligent Array software, Clarity monitoring system, energy harvest maximization, solar array diagnostics, PV performance, solar data analysis, string-level monitoring, panel-level monitoring, renewable energy asset performance, solar O&M solutions, Draker acquisition, Austin Ventures, Oxantium Ventures, solar financial performance