SolarEdge Unveils Next Generation All-in-One Home Solar + Storage Solution at RE+ 2024

Business Wire 10-Sep-2024 7:00 AM

• Highly modular design introduces flexible battery capacity for every home
• Designed to significantly reduce installation and commissioning time by approximately 50%
• Expected to be manufactured in the U.S. to help qualify for maximum domestic content incentivesⁱ

SolarEdge Technologies, Inc. ("SolarEdge") (NASDAQ:SEDG), a global leader in smart energy technology, today unveiled its next-generation single-phase solar + storage solution at RE+. The new residential offering will integrate a scalable battery and a new solar inverter up to 11.5kW to provide highly flexible whole home backup to fit various types of home across the US.

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Illustration of SolarEdge's Next Generation All-in-One Home Solar + Storage Solution (Photo: Business Wire)

The solution's modular design will allow homeowners to start with PV-only, or with a smaller LFP 4.4kWh battery for a lower entry cost. It can scale up to four battery modules per single battery (up to 17.6kWh), up to four batteries per inverter (up to 70.4kWh) and up to three inverters per site (211.2kWh). From an installer perspective, this enables the selection of the appropriate system size per individual and future system owner needs.

Focused on increasing homeowner earnings, the technology is based on SolarEdge's DC-coupled architecture, which already avoids a triple conversion penalty for higher energy yield. This will also be amplified by high efficiency from battery module-level optimization. The solution will be powered by the SolarEdge ONE advanced energy management software, for further energy savings.

For installers, the solution is designed to reduce system installation and commissioning processes by up to 50% (down to approximately 20-30 minutes) and is multi-purposed for various configurations (PV-only, storage-only, and backup installations) with the same product part numbers. The offering will also include a Meter Collar to accelerate whole home backup installations and open new business opportunities for installers. Coupled with embedded PCS and advanced busbar management to allow installations of up to 4x larger systems, the solution also reduces the need for costly main panel upgrades. Other notable design elements include high LRA to support the largest of residential HVAC systems and installation compatibility with extreme climate zones.

Roll-out of the new solution is expected to begin in late 2025. It is expected to be manufactured in one of the Company's U.S. manufacturing sites to help qualify for maximum domestic content incentives.

Ronen Faier, Interim Chief Executive Officer of SolarEdge: "Our next generation integrated solar and storage solution is based on our vast experience with millions of homes across the U.S. Addressing the need for home battery storage, it also provides the flexibility for customers to adapt their home solar to dynamic energy markets. Coupled with our advanced energy management software capabilities, we believe this will offer a differentiated solution to North American installers and homeowners alike. "

About SolarEdge

SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries and grid services solutions. Visit us at: solaredge.com

ⁱ SolarEdge does not provide tax and/or legal advice. You should consult with your own legal and/or tax advisor(s) regarding the eligibility of your project for the ITC or PTC, including the 10% domestic content bonus, to determine how the applicable rules apply to your particular project.

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