Tigo Energy Wins Additional US DOE Award For A Total Of $3,500,000 Leading optimizer O&M software technology selected for Department of Energy SunShot investments
LOS GATOS, Calif., June 21, 2012 /PRNewswire/ -- Tigo Energy®, the market leader in solar optimization technology for photovoltaic (PV) solar installations, today announced it has received one of ten Department of Energy SunShot investments aimed at reducing soft costs associated with solar energy installations.
The award of up to $500,000 will be used to develop software that will further reduce the costs associated with installation, commissioning, and operations & maintenance by providing tools to monitor and manage PV systems. Tigo Energy will use this award to fund module-level monitoring software that analyzes data from solar installations and other sources, such as observed weather conditions. The software is designed to proactively pinpoint faults in a system and assess the financial benefits of service and maintenance by weighing repair costs against the value of energy lost, allowing system owners and plant managers to make intelligent decisions regarding O&M expenditures.
This is the second SunShot Incubator award that Tigo Energy has won in recognition of their innovative technology and contributions to reducing the cost of ownership for solar. During the last round of funding in 2011, the DOE awarded Tigo Energy over $3,000,000 for a new, low-cost DC arc-fault detector. Tigo Energy has been selected for these prestigious awards based on their superior energy harvest and safe, flexible technologies.
In addition to pioneering module-level monitoring software with unmatched efficiency, safety and ROI, Tigo Energy will be opening their Academic Data Portal, containing 50 terabytes of continuously recorded real-world solar monitoring data, to qualified research institutions. This unprecedented amount of data will help to fuel additional research in the solar industry, allowing universities and research institutions to drive new discoveries to move the industry forward.
"Module-level data is essential to truly understanding and utilizing the full potential of solar," said Sam Arditi, CEO, Tigo Energy "Software is a critical component in optimizing solar arrays and bringing down ownership costs. This DOE award allows us to develop the most efficient system based on our extensive data with the lowest associated costs."
Tigo Energy will be showcasing their next generation module technologies during Intersolar North America in San Francisco. You can find them in booth 8335 in Moscone West on the second floor.
About Tigo Energy
Tigo Energy designs the #1 PV solar optimizer, enabling unparalleled design flexibility, uneven string lengths, different orientations and electrically safe solar. Installers and system owners achieve the highest ROI by increasing energy production and maximum system up-time. Tigo Energy partners with module, inverter and combiner box manufacturers to embed these features and monitor arcing, fire and safety hazards. Headquartered in Silicon Valley, California, Tigo Energy delivers the lowest cost predictive O&M for new installations and retrofits.
SOURCE Tigo Energy