UK-based power start up Senseye has invented new software that can help solar businesses to assess the future of their assets as well as reduce operations and maintenance costs by 20%.

The technology is inspired from aerospace and defence industries. It is intended to assist the renewable energy firms by enabling them to share accurate revenue forecasts with their financiers.

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The software will also assist in evaluation of equipment performance, which can be helpful in avoiding sub-optimal conditions and maintenance problems.

Senseye CEO Simon Kampa said: "Accurate predictive software has been used for over ten years in the aerospace industry. Unfortunately, it’s expensive and complex, requiring exceptionally well-trained data scientists to drive it.

"The simple-to-use prediction software that Senseye is developing will allow businesses to do things like forecast when equipment will fail."

"We’re changing that with Senseye, by giving the renewable energy market predictive technology that people can use without a background in data science and for less than the cost of a solar panel".

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UK-based low-carbon economy proponent Future Solent’s Green Growth programme manager Richard Hall said: "The kind of technology used in Aerospace to improve business efficiency, predict faults and achieve a 20% overall cost saving has until now been too expensive for Solar Farm owners and operators to consider.

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"The simple-to-use prediction software that Senseye is developing will allow businesses to do things like forecast when equipment will fail and what their revenues are likely to be so that they can plan more efficiently and get the most from their assets".

Senseye is offering the software on trial on a first come-first serve basis.