By Kari Williamson
Once built, the solar projects could account for 1.2 GW of installed capacity in the United States and India.
“Until now, the nascent utility-scale solar power market lacked a commonly accepted process to evaluate long-term project feasibility and risk from a resource perspective,” says Dr Pascal Storck, 3TIER Chief Operating Officer.
“Over the last 18 months, we have worked closely with developers and lenders to establish a set of best practices that better expose the risk of project under-performance so it can be mitigated effectively. This establishes a working standard for the industry to facilitate sound private and public investment going forward.”
3TIER has used on-site observations to statistically validate and correct time series from its global solar irradiance dataset, which provides up to 14-year historical records of hourly solar irradiance for any location worldwide.