Solar and Storage Monitoring and Controls: Understanding the Monitoring and Controls Market for Solar and Storage Technologies

Monitoring and controls (M&C) for solar PV and storage deployments can have a significant effect on optimizing the overall cost of energy with the help of sophisticated data analysis and sensors to detect any operational issues across these assets. With solar and storage, undetected generation losses from factors such as inverter failures, cable damage, installation errors, and dirty modules can lead to serious financial losses. Fast detection of deviations in yield is crucial to preventing both generation and financial losses.

Multiple dynamics are responsible for the growth of the M&C market and the hurdles it faces. The primary driving forces pushing growth are the booming rates of adoption for solar and storage and demands for efficiency, security, and the need for predictive maintenance for remote assets. Still, challenges such as costs, lack of data sharing, and the need for continuing technology updates, could hinder M&C's growth.

This Guidehouse Insights report outlines key trends and industry players who are currently active in the M&C space. As M&C can be a rapidly evolving set of technologies, more advances are likely-especially in the form of AI and machine learning-in coming years. This report determines that despite the declining cost of M&C capabilities, revenues for this market across solar and storage will continue to increase due in large part to the accelerating deployments of solar and storage systems. Guidehouse Insights expects the solar and storage M&C market to reach $7.6 billion by 2031.

KEY QUESTIONS ADDRESSED:

• How does Guidehouse Insights define M&C technologies and markets?

• What are some of the current drivers and barriers for M&C technologies?

• What key trends are being observed in the M&C market?

• What will revenue from the M&C market look like over the next 10 years?

• Who are some leading industry players in the M&C market today?

WHO NEEDS THIS REPORT:

• SCADA vendors
• Software and Monitoring vendors
• Solar and storage developers
• Energy storage OEMs
• Solar PV OEMs