FTC Solar has delivered 2.5+GW of trackers across more than 75 utility-scale projects
FTC Solar has an annual production capacity of 8GW
FTC Solar's solutions can result in up to 6% energy gain for solar projects
The Path to Drawdown: Solar PVs
Tackling climate change and staying below 1.5ºC of global warming demands a wholesale shift away from fossil fuels and toward using 100% emissions-free sources.
The most powerful source of this clean energy is the sun. Photovoltaic or PV solar panels (the kind you see on rooftops) have emerged as the predominant way of capturing the sun's energy and turning it into electricity. This industry has been growing quickly: as of 2020, solar panels are the cheapest source of electricity in most places on earth.
Solar produces ~2% of global electricity today. According to Project Drawdown, to be on a path to remain under 1.5ºC of warming, utility scale solar will need to be generating a combined ~26% of global electricity by 2050.
To get there, the PV solar industry needs to keep massively scaling over the few next decades:
- 720 TWh of solar electricity was generated in 2019
- 28,200 TWh is needed by 2050
- That’s a CAGR of 12.56% from 2019 - 2050
Analysis from the IEA also predicts that, to reach a 100% clean electricity grid by 2050, annual solar panel manufacturing capacity will need to scale from 737 GW in 2020 to 4,956 GW in 2030 (p.198).
FTC Solar, Inc. (stock ticker: FTCI) provides solar tracker systems and software and engineering services in the United States and internationally. Their customers include solar asset owners and project developers; and engineering, procurement, and construction contractors that design and build solar energy projects. Headquartered in Austin, Texas, FTC Solar went public in 2017.
FTC's Role in Drawdown
FTC Solar sells solar tracking systems that identifies the best positioning for a solar array to increase energy production.
They market their two-panel in-portrait single-axis tracker systems under the Voyager brand name. Its software solutions include SunPath, a solution to enhance energy production; SunDAT, an online 3D solar PV design solution; and Atlas, a solar portfolio management solution.
Enhancing the productivity of solar panels is a valuable service in making solar energy more attractive.
FTC: What We Like
We'll update this section once FTC Solar makes sustainability information available.