SOLAREDGE TECHNOLOGIES, INC.
SolarEdge Technologies is a leading provider of optimized inverter solutions for photovoltaic (PV) systems. The company's DC, optimized inverter system maximizes power generation while lowering the cost of energy produced by the PV system. SolarEdge's solution includes Power Optimizers, inverters, communication devices, and energy management software. The key advantages of SolarEdge's solution are maximized PV module power output, optimized architecture with economies of scale, enhanced system design flexibility, reduced balance of system costs, continuous monitoring and control to reduce operation and maintenance costs, and enhanced safety. SolarEdge's primary business segment is its solar business, which includes the sale of Power Optimizers, inverters, and energy management software. The company's website is solaredge.com, and its ticker symbol is SEDG. SolarEdge's products are sold primarily through large distributors and electrical equipment wholesalers and directly to large solar installers and engineering, procurement, and construction firms. The company has shipped approximately 52.6 GW of its DC optimized inverter systems and has over 3.7 million PV installations connected to its cloud-based Monitoring Platform. SolarEdge's Power Optimizers are highly reliable and efficient DC-to-DC converters that increase energy output from PV modules by continuously tracking the Maximum Power Point (MPPT) of each module and controlling its production point. The Power Optimizers' ability to track the MPPT of each PV module and adjust its output voltage enables the inverter's input voltage to remain fixed under a large variety of string configurations, enhancing the flexibility in PV system designs. SolarEdge's inverters contain sophisticated digital control technology with efficient power conversion architecture, resulting in superior solar power harvesting and high reliability. The inverters are designed to work exclusively with SolarEdge's DC Power Optimizers and are available in single-phase and three-phase configurations for residential, commercial, and ground mount applications. SolarEdge also offers energy storage solutions, including the SolarEdge Home Battery, which integrates with SolarEdge Home Hub family of inverters and provides homeowners with the ability to power their homes during power outages. The company also sells EV chargers for residential applications and smart energy management devices. In 2023, SolarEdge completed the acquisition of Hark Systems Ltd., a UK-based energy IoT company, to expand its capabilities in energy management and connectivity for commercial and industrial customers. SolarEdge offers a variety of professional software tools to support the complete PV planning, installation, monitoring, and maintenance processes of its DC optimized inverter solutions, including the SolarEdge monitoring platform, mySolarEdge app, designer platform, mapper application, and SetApp application. The company also offers grid services, including the creation of virtual power plants, to enable the pooling of distributed energy resources for improved grid reliability and stability. SolarEdge's products in the solar segment reflect its innovation focus and capabilities, with a core product roadmap divided into five categories: Power Optimizers, inverters, software, batteries for PV applications, and smart energy management. The company uses proprietary ASICs to control its Power Optimizers' power conversion, safety features, and PV module monitoring, reducing the total number of components and improving reliability. SolarEdge's research and development teams continuously work on improving its ASICs and releasing new generations of this technology.