Terabase Energy announced its launch as a new solar technology company, led by CEO Matt Campbell and a co-founding team comprised of long-time solar industry executives. The company will be unveiling its Terabase Platform at Solar Power International.
Unique to Terabase Energy’s offering is its combination of software, data and proprietary tools allowing developers and EPCs to dramatically reduce project development and deployment costs and timelines.
As Wood Mackenzie reported earlier this year, in today’s competitive utility-scale energy market, developers are challenged to deliver projects with ever-declining, record low-priced power contracts. The price of large scale solar has fallen by more than 88% over the last decade largely driven by improved scale economies for major equipment, like solar panels. During this same period however, soft costs for activities such as engineering, site investigations and field construction have not changed to the same degree. As a result, soft costs today represent about half of the cost of a solar project.
Terabase’s ambition to reduce soft costs by 25% over the next four years is well-timed with BloombergNEF’s double-digit annual growth forecast for the global utility-scale solar market. Further cost reductions are crucial ingredients in the future growth and competitiveness of utility-scale solar.
“We view the tackling of soft costs in large-scale solar as an area overdue for disruption,” said Campbell. “Terabase digitalizes the modern solar power plant — combining software, data and process improvements to deploy projects faster and cheaper than ever before. As former developers, technologists, engineers and constructors in the industry, our team is particularly well-positioned to develop the solutions to deliver the next step-change reductions in utility-scale solar LCOE.”
The company will be demonstrating the Terabase Platform at Booth No. 7043 at Solar Power International next week. 30-minute demonstrations of the platform can be prescheduled via email at info@terabase.energy.
“We’re excited to show prospective users this first module,” said Campbell. “It is a powerful tool to accelerate decision-making from project siting through to design optimization and an important milestone for the company.”
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