Array Technologies Launches Hail Alert Response
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Insights
Array Technologies' introduction of the Hail Alert Response system represents a significant advancement in the field of renewable energy, particularly for solar power generation. Its relevance stems from the increasing frequency of extreme weather events, which can cause substantial damage to solar infrastructure. By integrating advanced weather prediction algorithms, Array Technologies is addressing a critical pain point for solar energy producers, particularly in hail-prone areas.
The financial implications of this technology are considerable. Insurance claims from weather-related damage to solar assets can be substantial and the proactive protection offered by the Hail Alert Response system could potentially reduce these costs. Additionally, the increased resilience and longevity of solar trackers translate to sustained energy production and potentially improved return on investment for solar projects. However, it is essential to consider the additional cost of the subscription service and the required SmarTrack Controller when evaluating the overall financial impact.
From a risk management perspective, Array's Hail Alert Response system serves as an innovative risk mitigation tool. The ability to autonomously stow solar trackers before a hail event can significantly reduce the risk of asset damage, which is a key concern for investors and insurers alike. By enhancing the durability of solar installations, Array Technologies not only protects physical assets but also secures the projected cash flows from energy production.
It is important to note that while the system enhances security through encryption, the reliance on technology also introduces new risks, such as cybersecurity threats and system failures. Operators must ensure robust cybersecurity measures are in place to safeguard against potential breaches that could disrupt operations or lead to data theft.
The deployment of the Hail Alert Response by Array Technologies also has environmental implications. By improving the resilience of solar trackers, the system contributes to the sustainability of solar projects. Less frequent replacements and repairs mean reduced waste and a lower carbon footprint associated with manufacturing and transportation of replacement parts. This aligns with global efforts to make renewable energy sources more sustainable and less resource-intensive over their lifecycle.
However, the environmental benefits must be weighed against the energy and resources required to produce and operate the Hail Alert Response system. The full environmental impact can only be assessed by considering the entire supply chain and lifecycle of the system.
Array Technologies invests in new technology to protect solar trackers from weather events
ALBUQUERQUE, N.M., March 26, 2024 (GLOBE NEWSWIRE) -- Array Technologies (NASDAQ: ARRY) (“Array” or “the Company”), a global leader in utility-scale solar tracking, is proud to announce the launch of its patented Hail Alert Response, a groundbreaking set of software features designed to autonomously protect solar assets from hail damage. This innovative technology is part of Array's ongoing efforts to enhance the resilience and efficiency of solar energy systems in hail-prone regions.
The Hail Alert Response system leverages advanced weather prediction algorithms to preemptively stow solar trackers approximately 30 minutes before a predicted hail event. This proactive approach ensures that solar assets are safeguarded against potential damage, enhancing the longevity and durability of the investment.
Key Features and Availability
- Weather Prediction Technology: Utilizes state-of-the-art forecasting to anticipate hail events, enabling pre-emptive stowing of solar trackers.
- Wide Applicability and Compatibility: Available across the United States, the Hail Alert Response can be integrated with any existing DuraTrack or OmniTrack system.
- Secure Communication: All communications between the SmarTrack Data Platform and the on-site SmarTrack Controller are encrypted.
- Requirement: Along with a subscription to the service, a SmarTrack Controller is essential for the effective application of the Hail Alert Response features.
“Array is constantly seeking innovative ways to add value and long-term cost savings for our customers, by enhancing the resilience and performance of solar energy systems,” said Kevin G. Hostetler, Chief Executive Officer at Array. “With our patented Hail Alert Response, we're offering our clients an exceptional layer of protection against the unpredictability of weather, while ensuring that solar projects remain productive and secure via encryption.”
This innovative solution is a testament to Array's dedication to providing cutting-edge technologies that address the real-world challenges faced by solar energy producers. The Hail Alert Response is not just a step forward in safeguarding solar investments; it's a leap toward a more reliable and sustainable energy future. To find out more about Array’s SmarTrack Hail Alert Response, please visit SmarTrack™ Hail Alert Response - Array Technologies (arraytechinc.com)
About Array Technologies
Array Technologies (NASDAQ: ARRY) is a leading global renewable energy company and provider of utility-scale solar tracking technology. Engineered to withstand the harshest conditions on the planet, Array’s high-quality solar trackers and sophisticated software maximize energy production, accelerating the adoption of cost-effective and sustainable energy. Founded and headquartered in the United States, Array relies on its diversified global supply chain and customer-centric approach to deliver, commission, and support solar energy developments around the world, lighting the way to a brighter, smarter future for clean energy. For more news and information on Array, please visit arraytechinc.com.
Forward Looking Statements
This press release contains forward-looking statements. These statements are not historical facts but rather are based on the Company’s current expectations and projections regarding its business, operations, and other factors relating thereto. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
Media Contact:
Karen Rand
505-314-6901
krand@arraytechinc.com
Investor Relations Contact:
Array Technologies, Inc.
Investor Relations
505-437-0010
investors@arraytechinc.com
FAQ
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