POWER FACTORS RECOGNIZED AS A GLOBAL INNOVATOR IN COP29 VISION 2045 CAMPAIGN
Awarded for excellence in digital infrastructure to support the clean energy transition.
July 17, 2024
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POWER FACTORS RECOGNIZED AS A GLOBAL INNOVATOR IN COP29 VISION 2045 CAMPAIGN
by Power Factors
SAN FRANCISCO, CALIF., — July 17, 2024 — Power Factors, the leading renewable energy management solutions provider, has been recognized as a Global Innovator in the upcomingCOP29Vision 2045 campaign. This acknowledgment highlights Power Factors’ commitment to theUnited Nation’s Sustainability Goalsand the pivotal role its solutions play in driving the clean energy transition.
AWARD-WINNING RENEWABLE ENERGY MANAGEMENT SOLUTIONS
In recognition of its achievements in renewable energy management solutions, the Vision 2045 campaign has selected Power Factors as a winner in the Digital Infrastructure category, joining the ranks of previous Vision 2045 members such as Boeing, Galp, Ontario Power, TD Bank, Fairtrade, Asics, and many more.
Power Factors’ story is showcased in a documentary featuring leadership from Power Factors and its customer,Lightsource bp. The documentary highlights the company’s influential role in accelerating the shift to sustainable energy. It illustrates how Unity, Power Factors’ next-generation renewable energy management suite (REMS), enables this shift by empowering clean energy stakeholders to drive this transformation.
During COP28 in Dubai, global leaderscommitted to tripling renewable energy capacity by 2030, aiming for a minimum of 11,000 GW. With last year’s record-setting addition of 510 gigawatts (GW), total installed capacity is now at 3,700 GW. Meeting this ambitious goal will require growth at an unprecedented scale.
Power Factors addresses the demands of this necessary expansion with Unity’s comprehensive suite of hardware, software, applications, and services to support the entire asset lifecycle with trusted data and purpose-built tools to optimize performance and improve the levelized cost of energy (LCOE).
TRANSFORMING THE WAY THE WORLD MANAGES RENEWABLE ENERGY
At the forefront of the clean energy transition, Power Factors’ Unity REMS tackles the rapid growth and concurrent challenges in the renewable energy sector by providing high-quality data at scale with AI-powered insights, faster onboarding for quicker time-to-value, and integrated applications with a common data model across solar, wind, hybrid, and storage portfolios. It also offers mission-critical, real-time controls of storage assets to deliver predictable power and automate commands for optimal market participation.
“The energy grid is one of the world’s greatest engineering achievements, essential for powering modern life. Power Factors’ Unity suite empowers customers to optimize every kilowatt-hour of renewable energy produced from the sensor to the cloud,” said Russ Butler, Chief Technology Officer at Power Factors. “Our award-winning, AI-powered analytics are informed by more than 300 GWs of globally managed assets, ensuring customers have the right data at the right place and time to drive better results.”
Unity empowers global energy leaders to optimize asset performance, maximize revenue, and scale renewable portfolios at the pace of their business. On average, Power Factors customers see a remarkable 20% annual growth, with its largest twelve customers increasing their assets under management by 65% over the last three years.
Power Factors is a leading renewable energy software provider with some of the most extensive and widely deployed solutions in the market. With over 300 GW of wind, solar, hydro, and energy storage assets managed worldwide across more than 600 customers and 18,000 sites, Power Factors manages 25% of the world’s renewable energy data.*
Power Factors’ Unity renewable energy management suite supports the entire energy value chain, from monitoring and controls to market participation. The company’s open, data-driven applications empower renewable energy stakeholders to collaborate, automate critical workflows, and make more informed decisions to maximize asset returns. Energy stakeholders receive end-to-end support, including solutions for SCADA & PPC, centralized monitoring, asset performance management, commercial asset management, and field service management.
With deep domain expertise, AI-powered insights are delivered atscaleso businesses can optimize assets, unlock growth, and make smarter decisions as the world rapidly transitions to clean energy. Power Factors fights climate change with code.
