SolarEdge and Freedom Forever Announce Multi-Year Agreement that Includes PV and Battery Storage Systems

Rhea-AI Summary

SolarEdge Technologies has signed a multi-year agreement with Freedom Forever, a leading U.S. residential solar installer, to supply smart energy products. This includes the SolarEdge Home Smart Energy Ecosystem featuring the SolarEdge Home Hub Inverter, Power Optimizers, Home Battery, and Smart Energy Devices like the EV Charger. The partnership aims to meet the growing demand for solar solutions driven by rising electricity costs and recent regulatory changes, such as California's Net Energy Metering 3.0. SolarEdge's CEO, Zvi Lando, emphasized the importance of this strategic cooperation in enhancing energy efficiency for U.S. homes.

Positive

• Multi-year agreement with Freedom Forever enhances product distribution.
• Collaboration positions SolarEdge to meet rising demand for residential solar solutions.

Negative

• None.

MILPITAS, Calif.--(BUSINESS WIRE)-- SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy technology, announced today that it entered into a multi-year agreement with Freedom Forever, a leading U.S. residential solar installer, for the supply of residential smart energy products and solutions.

The SolarEdge Home Battery will be part of the residential smart energy solution now offered to Freedom Forever customers (Photo: Business Wire)

As part of the multi-year agreement between the companies, Freedom Forever will offer its customers the SolarEdge Home Smart Energy Ecosystem, including the SolarEdge Home Hub Inverter, SolarEdge Power Optimizers, SolarEdge Home Battery, Backup Interface, Smart Energy Devices such as the SolarEdge EV Charger and Load Controllers.

Brett Bouchy, CEO of Freedom Forever, said: “As the nation’s largest residential installer, it is imperative that we align with world-class organizations like SolarEdge as we embark on our goal to become the first company to install a gigawatt of residential solar in a 12-month period.”

“Electricity costs, recent weather events, and new regulations, like the California’s Net Energy Metering 3.0, are bringing solar and battery solutions to the forefront”, said Zvi Lando, Chief Executive Officer of SolarEdge. “We are proud to enter this strategic cooperation with Freedom Forever to provide smarter, more efficient, and more powerful solar and battery solutions to homes across the United States.”

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, electric vehicle powertrains, and grid services solutions. Visit us at: solaredge.com

About Freedom Forever

Freedom Forever and its family of companies focuses on residential solar installations that deliver best-in-class Engineering, Procurement, and Construction for its dealer network. Since 2011, Freedom Forever has enabled its dealer network to succeed with a premium offering and aggressive pricing flexibility. Freedom Forever's 25-year production guarantee provides the ultimate peace-of-mind for homeowners reluctant to make a big investment when purchasing their solar systems. With Freedom Forever, homeowners know what they're getting every time. For more information, please visit https://freedomforever.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230209005471/en/

SolarEdge Technologies, Inc.

Lily Salkin Global Public and Media Relations Manager

Lily.salkin@solaredge.com

+972-522028240

SolarEdge Technologies, Inc.

Dana Noyman Head of Corporate Communications and Global PR

dana.noyman@solaredge.com

+972 54 999 8809

Source: SolarEdge Technologies, Inc.

FAQ

What is the recent agreement between SolarEdge (SEDG) and Freedom Forever?

SolarEdge has entered a multi-year agreement with Freedom Forever to supply residential smart energy products.

How will the agreement affect SolarEdge's (SEDG) market position?

The agreement aims to enhance SolarEdge's market position by meeting the increasing demand for solar solutions in the U.S.

What products will Freedom Forever offer through SolarEdge (SEDG)?

Freedom Forever will offer SolarEdge's Home Smart Energy Ecosystem, including inverters, power optimizers, and batteries.

How does the new regulation influence SolarEdge (SEDG) and Freedom Forever's agreement?

New regulations like California’s Net Energy Metering 3.0 are driving demand for solar and battery solutions, influencing the partnership.