PowerMarket conducts solar potential assessments using satellite data analysis and artificial intelligence. They hope to cut the time and costs associated with installing photovoltaic solar panels and accelerate the uptake of this clean energy source.

PowerMarket analyses satellite and weather data sources using artificial intelligence to accurately calculate the solar potential of both commercial and residential properties. Customers can enter their address into PowerMarket’s database, and the website will then generate an estimate of energy cost savings over the project lifetime. It also produces a detailed report providing the customer with information such as the estimated payback time of the investment, the total energy saved, and the total environmental impact of the project, expressed in terms of carbon dioxide emissions, equivalent cars off the road and more.

For instance, a sample calculation conducted on behalf of a large Asda supermarket in London, found that installing solar panels would generate £1.75 million in electricity cost savings over 25 years, versus £530,000 in system costs. In addition, it would save an estimated 342 tonnes of carbon dioxide emissions per year, equivalent to 46 cars being taken off the road.

PowerMarket also provides analytics to utilities and grid operators, and are currently partnered with a number of utility providers in the UK, Belgium and Germany.

Although there is untapped potential for solar power in Europe, individual households and businesses may be perturbed by high costs of consultations, installations, management and maintenance. PowerMarket is currently working with a number of utility companies across Europe to help them reduce consultation costs and make it easier and cheaper for commercial and residential property owners to install solar panels.