US Faced $5,720/MWdc/Year Potential Revenue Solar Asset Loss

In 2024, solar assets in the United States faced an average potential revenue loss of $5,720 per MWdc per year, Raptor Maps’ Power Loss dataset revealed. It attributed this to equipment-related underperformance. It said that this marked a 15% increase from 2023 and a 214% surge over the past five years.

Raptor Maps’ Power Loss dataset tracks capacity losses caused by DC health issues and equipment failures. While system-level faults remain the leading cause of power loss, 2024 also saw a rise in physical damage and module-level issues, escalating fire risks and power loss challenges that asset owners must address across their fleets, it said.

The report associated the increase in power losses in the US with equipment-driven underperformance. It resulted in annual losses of $5,720 per MWdc in 2024, up 15% from 2023 and 214% over the past five years. It emphasized addressing these inefficiencies to increase project returns and continuing to bolster a newly robust industry.  The Raptor Maps dataset includes 172 GW of DC health-driven power loss analytics and 21 GW of risk management analytics (e.g., vegetation monitoring or equipment defect detection).

Thin-Film Performance

The report found that thin-film assets performed well at the module level in the 2024 dataset, exhibiting roughly a quarter of the module-level defects found in polycrystalline panels. The report further explained, “While 70% of module-level defects in thin-film modules were due to physical damage, the overall physical damage in thin-film modules was lower compared to monocrystalline and polycrystalline modules in 2024. Physical damage accounted for 55% and 52% of monocrystalline and polycrystalline module-level defects, respectively.” Since thin-film modules show more subtle temperature differentials, Raptor Maps’ thin-film analytics identify only modules with known defects that should be monitored or addressed.

Weather-Driven Damage by Market

Weather remains one of the most significant drivers of module damage. By measuring the average number of damaged modules per megawatt, Raptor Maps approximates extreme weather risk by market. Storm-prone markets, such as ERCOT and the Southeast, are significantly more likely to experience equipment damage—occurring at rates 16 times and 6.5 times higher, respectively, than the market with the least physical damage per MW (NYISO), even after adjusting for outliers.

The study noted that climate change will continue to exacerbate extreme weather risks, increasing both the severity and frequency of high-impact events. For example, a 2024 study found that the smallest hailstones are expected to decrease in frequency by an average of 25%, while the largest hailstones are projected to increase in frequency by 25% to 75%, depending on the emissions pathway. These projections highlight the need for continued evolution in weather risk management and the standardization of best practices across the solar industry.