Welcome to our dedicated page for SolarEdge Technologies news (Ticker: SEDG), a resource for investors and traders seeking the latest updates and insights on SolarEdge Technologies stock.
SolarEdge Technologies, Inc. (symbol: SEDG) is a leading global provider of distributed power harvesting and monitoring systems designed to optimize the energy output of solar photovoltaic (PV) installations. The company's innovative solutions include power optimizers, inverters, and a cloud-based monitoring platform that serves a wide array of market segments, including residential, commercial, and small utility-scale solar installations.
Established to address the need for more efficient and cost-effective solar energy systems, SolarEdge's technologies enable module-level monitoring, enhanced maintenance, and flexible design options. These benefits translate into faster installations, improved safety, theft prevention, and ultimately, lower costs for PV energy production. The company sells its products through multiple channels, including direct sales to solar installers and engineering, procurement, and construction firms, as well as indirect sales via distributors and electrical equipment wholesalers.
In recent years, SolarEdge has achieved significant milestones and formed numerous partnerships that have bolstered its market position. The company's robust financial condition, underscored by consistent revenue growth and a strong balance sheet, reflects its operational excellence and strategic vision. SolarEdge continues to innovate and expand its product offerings, ensuring it remains at the forefront of the solar energy industry.
Whether you are a residential homeowner, a commercial entity, or involved in small utility-scale installations, SolarEdge provides a comprehensive solution to maximize the value and efficiency of your solar PV system. The company's commitment to developing cutting-edge technology and maintaining high standards of customer service makes it a preferred choice for solar energy solutions worldwide.
SolarEdge Technologies, Inc. (NASDAQ: SEDG) has unveiled its next-generation single-phase solar + storage solution at RE+ 2024. The new residential offering integrates a scalable battery and a new solar inverter up to 11.5kW, providing flexible whole home backup. Key features include:
- Modular design allowing homeowners to start with PV-only or a smaller 4.4kWh LFP battery
- Scalable up to 211.2kWh per site
- DC-coupled architecture for higher energy yield
- SolarEdge ONE advanced energy management software
- Up to 50% reduction in installation and commissioning time
- Meter Collar for faster whole home backup installations
- Expected U.S. manufacturing to qualify for maximum domestic content incentives
The solution is designed to address varying home needs across the U.S. and is expected to roll out in late 2025.
SolarEdge Technologies, Inc. (NASDAQ: SEDG) announced a significant leadership transition. Zvi Lando has stepped down as CEO but will remain on the Board of Directors and serve as an advisor to the management team. The company has initiated a search for a new CEO with the support of a global executive search firm.
In the interim, Ronen Faier, previously Chief Financial Officer, has been appointed as Interim CEO. As part of the company's previously announced CFO succession plan, Ariel Porat, formerly Senior VP of Finance, has been appointed as the new Chief Financial Officer.
The changes are effective immediately. The company's Board of Directors expressed gratitude for Lando's contributions over his 15-year tenure, including 5 years as CEO. Faier acknowledged the challenges ahead, stating that 'The road to a full recovery of SolarEdge is still ahead of us.'
SolarEdge Technologies (SEDG) reported Q2 2024 financial results, showing revenues of $265.4 million, up 30% from Q1 but down 73% year-over-year. The solar segment contributed $241.2 million. GAAP gross margin was negative 4.1%, while non-GAAP gross margin was 0.2%, including 330 basis points of net IRA benefit. The company reported a GAAP net loss of $130.8 million or $2.31 per share. SolarEdge shipped 873 Megawatts (AC) of inverters and 128 MWh of batteries for PV applications. Despite challenges, CEO Zvi Lando expressed optimism about the 18% growth in sell-through of solar products by distributors. The company expects undershipping to continue in Q3 but anticipates a return to higher revenue levels in H1 2025.
SolarEdge Technologies (NASDAQ: SEDG) announced that Italian luxury fashion house TOD'S has expanded its solar energy deployment with SolarEdge rooftop installations on its headquarters and manufacturing facility in the Marche region, Italy. The installations, totaling 740 kWp, power approximately 78% of daily energy use, resulting in carbon emission reductions of ~126 tCO₂ from April to December 2023.
This expansion builds on TOD'S first SolarEdge installation in 2017 and aligns with the company's corporate sustainability mission. TOD'S also recently installed a 106 kWp solar system at its Montecosaro site. The project, implemented by SARI 2030 - EDILENERGIA, aims to maximize energy generation from available roof space while meeting TOD'S demands for efficiency, performance, and safety.
Kraken Technologies and SolarEdge Technologies (NASDAQ: SEDG) have announced a strategic partnership to provide low-cost, green energy for SolarEdge Home Battery customers worldwide. The integration of SolarEdge batteries into Kraken's energy platform will allow customers to maximize earnings by charging batteries with cheap, clean energy during abundant periods and selling energy back to the grid during peak times. This process will be fully automated by Kraken.
Initially, Octopus Energy customers in the UK and Texas, U.S., will benefit from 'Intelligent Octopus' tariffs, offering up to 50% lower rates than regular tariffs. SolarEdge systems globally will join Kraken's 'Virtual Power Plant', currently at 1.1GW capacity, enabling energy retailers to develop smart tariffs for SolarEdge battery owners. This partnership aims to drive greater energy resiliency for homes and grids, supporting the transition towards net-zero emissions.
SolarEdge Technologies, Inc. (NASDAQ: SEDG), a global leader in smart energy technology, has announced that it will release its financial results for the second quarter ended June 30, 2024, on Wednesday, August 7, 2024, after market close. The company will host a conference call at 4:30 P.M. ET on the same day to discuss the results.
Interested parties can join the call by dialing:
- United States/Canada Toll Free: +1 800-445-7795
- International Toll: +1 785-424-1699
- Conference ID: SEDG
A live webcast will be available in the Investor Relations section of SolarEdge's website. A replay of the webcast will be accessible approximately two hours after the call concludes and will remain available for about 30 calendar days.
SolarEdge Technologies, Inc. (NASDAQ: SEDG) has launched its high-power SolarEdge TerraMax™ Inverter combined with H1300 Power Optimizers in Italy. The SE330K inverter, now certified and available for order, targets small-to-medium utility-scale PV installations. This versatile solution is suitable for various topologies and challenging site conditions, including ground-mounted sites on irregular terrains and dual-use applications like floating PV and Agri-PV with trackers.
The TerraMax Inverter offers advanced Module Level Power Electronics (MLPE), providing increased energy production, built-in safety features, and design flexibility. It will be powered by the SolarEdge ONE for C&I platform, offering high-precision module-level monitoring and PV fleet management. The optimized utility solution boasts 99% inverter efficiency, 200% DC-oversizing, and an integrated night-time PID rectifier, potentially reducing balance of system costs by up to 50%.
SolarEdge Technologies (NASDAQ: SEDG) has achieved significant milestones in its U.S. manufacturing strategy. The company has reached a quarterly manufacturing run rate of 50,000 Home Hub Inverters at its Texas facility by Q2 2024 and shipped the first 20,000 Power Optimizers from its Florida facility. The Florida plant is expected to produce 2 million Power Optimizers per quarter when fully ramped. These milestones will create approximately 1,750 new jobs in the U.S. by the end of 2024. SolarEdge aims to produce DC optimized inverter systems for residential and commercial applications that meet domestic content guidelines, enabling customers to qualify for additional tax credits.
SolarEdge Technologies (SEDG) has been selected by Rutgers University for an agrivoltaics research program in New Jersey. The initiative aims to explore the potential of combining agricultural production with solar energy generation on the same land. The research will support the New Jersey Board of Public Utilities' (NJBPU) Dual-Use Solar Energy Pilot Program, a three-year, 200 MW project. The program involves multiple stakeholders, including the New Jersey Department of Agriculture and the State Agricultural Development Committee. Key study sites will evaluate different mounting methods of solar panels to assess their impact on agriculture and energy production. SolarEdge’s technology will be used for measuring energy output. The results will inform a permanent Dual-Use Solar Program in New Jersey, offering a sustainable solution for farmers facing rising energy costs and climate change challenges.
SolarEdge Technologies has appointed Shuki Nir as the new Chief Marketing Officer (CMO). Nir, with extensive leadership experience from his tenure at SanDisk and board roles at Kornit Digital and IronSource, will replace Yogev Barak, who served as CMO for 3.5 years. CEO Zvi Lando expressed optimism about Nir's ability to enhance the company's brand value, enter new market segments, and expand the product portfolio. During Barak's tenure, SolarEdge saw significant growth and built a robust global marketing team.
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