Raycatch Founder Michael Goldstein says that his VC backed software startup is using artificial intelligence to bring significant efficiencies to solar projects all over the world. Their DeepSolar solution captures data, does an AI-powered analysis, and then provides action items to large solar panel users so that they can improve energy yield and reduce costs.
Michael Goldstein, Chairman, and Founder Of Raycatch discussed their breakthrough technology on ILTV ISRAEL DAILY:
Raycatch is a solar company that does data analytics for solar owners and solar maintenance people. What happened in the whole energy system is that there was a main revolution where the cost of panels went dramatically down in the last ten years. That caused a large number of new installations all over the world, either on roof mounting or ground where you saw more and more solar projects all over the world. The only thing that did not change, besides the reduction, of course, was the fact that owning and maintaining those projects did not improve.
So that’s exactly where we come in. We’re trying to improve ownership and maintenance by using AI, artificial intelligence, to better run those assets. We are a VC backed 15 person startup based in Tel Aviv operating with projects all over the world, currently in Israel and Europe. We have prominent customers and we are already running over 100 different projects in those countries. We will eventually be in the United States as well.
People that are using our software are able to increase the yield by 5 percent. They can reduce the cost of operation by 20 percent and they have better transparency about the value of their assets they’re running. Bear in mind that it’s not only residential installations but imagine all those large installations over the ground, utility-scale, utility companies, that are using solar panels today.
We are targeting mainly the large-scale installations because it’s more efficient for us business-wise but in principle were relevant for both small and large installations. They can be residential, they could be on a commercial roof or on the ground.
Based in Israel, Raycatch was founded in 2015 by serial entrepreneurs and solar experts. Raycatch is an AI diagnostics technology for solar energy, on a mission to revolutionize the manual PV monitoring market by enabling automated, insight-driven management of solar assets. By deciphering existing solar energy data, Raycatch transforms PV Operation and Maintenance (O&M) tasks from traditional manual scheduled operations to on-demand automatic management. No hardware or software installation or site visits are needed.
The result is maximized performance and maintenance of solar assets, leading to increased yield, decreased operational costs and the acceleration of solar energy penetration in the global energy market.