SOLV® was ranked the #1 Affiliated Service Provider in the global operations & maintenance (O&M) market for a fifth year in a row according to a new report by Wood Mackenzie, a global energy research and consulting group. A division of leading solar EPC, Swinerton Renewable Energy, SOLV provides O&M services to both affiliated and third-party plants in North America.
In its 2021 Global PV O&M Service Provider Dynamics report, Wood Mackenzie, a Verisk business (Nasdaq:VRSK), segments participating companies into nine groups: service providers, which includes Independent Service Providers (ISPs) and Affiliated Service Providers (ASPs); Developers; Power Purchase Agreement (PPA) or Lease Providers; EPC Firms; Inverter Manufacturers; Independent Power Producers (IIPs); Utilities; and Module Companies.
At EOY 2020, SOLV managed 9,219 MW of PV assets, earning the company a #1 ranking in the Affiliated Service Providers category and a #2 ranking among O&M vendors globally in any category. SOLV achieved annual growth of 80%, adding 4 GW in one year for a total of 9.2 GW of renewable energy assets under contract, the most of any vendor analyzed by Wood Mackenzie in its recent report. SOLV’s portfolio includes projects in 26 states.
“SOLV offers a comprehensive O&M solution that PV project owners trust to maximize production on their solar sites,” said Reegan Moen of SOLV. “SOLV had the largest year-on-year growth of any O&M in 2020, expanding our portfolio to include over 9 GW in 26 states, a direct reflection of the superior service and results provided by our nationwide team of solar technicians, analysts and engineers. We look forward to continued leadership within the North American solar market.”
Wood Mackenzie predicts that global solar PV additions will peak in 2025 rather than 2020. This finding presents a significant shift from the previous forecast, a result of the Covid-19 pandemic. However, the overall delay is predicted to have limited effects on operations due to record levels of installations in the U.S. utility-scale segment as the industry looks ahead to the upcoming ITC step-down.
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