SolarEdge Announces First Section 45X Credit Sale
SolarEdge Technologies (Nasdaq: SEDG) has completed its first sale of §45X Advanced Manufacturing Production Tax Credits for approximately $40 million, net of discounts and fees. The credits were generated from U.S.-made inverter sales in H1 2024. The company's Austin facility achieved a 500 MW quarterly inverter production run rate in Q2 2024 and exceeded this in Q3. Their Tampa facility began shipping Power Optimizers in Q2 2024, targeting two million units per quarter, with plans to add commercial inverter production in Q1 2025. This transaction strengthens SolarEdge's cash position and supports expansion of U.S. manufacturing operations.
SolarEdge Technologies (Nasdaq: SEDG) ha completato la sua prima vendita di crediti d'imposta per la produzione avanzata §45X per circa 40 milioni di dollari, al netto di sconti e commissioni. I crediti sono stati generati dalle vendite di inverter prodotti negli Stati Uniti nel primo semestre del 2024. L'impianto di Austin dell'azienda ha raggiunto una capacità di produzione di inverter di 500 MW nel secondo trimestre del 2024, superando ulteriormente tale cifra nel terzo trimestre. Il loro stabilimento di Tampa ha iniziato a spedire Power Optimizers nel secondo trimestre del 2024, con l'obiettivo di raggiungere due milioni di unità per trimestre, e prevede di aggiungere la produzione di inverter commerciali nel primo trimestre del 2025. Questa transazione rafforza la posizione di cassa di SolarEdge e supporta l'espansione delle operazioni di produzione negli Stati Uniti.
SolarEdge Technologies (Nasdaq: SEDG) ha completado su primera venta de Créditos Fiscales por Producción Avanzada §45X por aproximadamente 40 millones de dólares, netos de descuentos y tarifas. Los créditos fueron generados a partir de las ventas de inversores fabricados en EE. UU. en el primer semestre de 2024. La instalación de la empresa en Austin alcanzó una tasa de producción trimestral de inversores de 500 MW en el segundo trimestre de 2024 y la superó en el tercer trimestre. Su instalación en Tampa comenzó a enviar Power Optimizers en el segundo trimestre de 2024, con un objetivo de dos millones de unidades por trimestre, y planea agregar producción de inversores comerciales en el primer trimestre de 2025. Esta transacción fortalece la posición de efectivo de SolarEdge y apoya la expansión de las operaciones de fabricación en EE. UU.
SolarEdge Technologies (Nasdaq: SEDG)는 약 4천만 달러의 §45X 고급 제조 생산 세금 크레딧 첫 판매를 완료했습니다. 할인 및 수수료를 제외한 금액입니다. 세금 크레딧은 2024년 상반기 미국 제조 인버터 판매에서 발생했습니다. 회사의 오스틴 시설은 2024년 2분기 500 MW의 분기 인버터 생산 속도를 달성했으며 3분기에는 이를 초과했습니다. 그들의 탬파 시설은 2024년 2분기에 파워 최적기를 배송하기 시작했으며, 분기당 200만 대를 목표로 하고 있으며, 2025년 1분기에는 상업용 인버터 생산을 추가할 계획입니다. 이번 거래는 SolarEdge의 현금 포지션을 강화하고 미국 제조 활동의 확장을 지원합니다.
SolarEdge Technologies (Nasdaq: SEDG) a conclu sa première vente de crédits d'impôt pour la production avancée §45X pour environ 40 millions de dollars, net de remises et de frais. Les crédits ont été générés à partir des ventes d'onduleurs fabriqués aux États-Unis au premier semestre 2024. L'installation de l'entreprise à Austin a atteint un taux de production trimestriel d'onduleurs de 500 MW au deuxième trimestre 2024 et a dépassé ce chiffre au troisième trimestre. Leur installation de Tampa a commencé à expédier des Power Optimizers au deuxième trimestre 2024, visant deux millions d'unités par trimestre, avec des plans pour ajouter la production d'onduleurs commerciaux au premier trimestre 2025. Cette transaction renforce la position de trésorerie de SolarEdge et soutient l'expansion des opérations de fabrication aux États-Unis.
SolarEdge Technologies (Nasdaq: SEDG) hat seinen ersten Verkauf von §45X Steuergutschriften für fortschrittliche Fertigung in Höhe von etwa 40 Millionen Dollar, abzüglich Rabatten und Gebühren, abgeschlossen. Die Gutschriften wurden durch den Verkauf von in den USA hergestellten Wechselrichtern im ersten Halbjahr 2024 generiert. Die Anlage des Unternehmens in Austin erreichte im zweiten Quartal 2024 eine Produktionsrate von 500 MW für Wechselrichter und übertraf diese im dritten Quartal. Ihre Anlage in Tampa begann im zweiten Quartal 2024 mit dem Versand von Power Optimizers, mit dem Ziel, zwei Millionen Einheiten pro Quartal zu versenden, und plant, im ersten Quartal 2025 die Produktion von kommerziellen Wechselrichtern hinzuzufügen. Diese Transaktion stärkt die Liquiditätsposition von SolarEdge und unterstützt die Expansion der Produktionsaktivitäten in den USA.
- Secured $40 million from tax credit sale, improving cash position
- Austin facility exceeded 500 MW production target in Q3 2024
- Tampa facility on track for 2 million Power Optimizers quarterly production
- Expanding manufacturing capabilities with new product lines in Tampa facility
- None.
Insights
The
The successful monetization of §45X credits demonstrates strong market acceptance and validates SolarEdge's U.S. manufacturing investment. With production capacity expanding and a clear path to monetize tax credits, this could generate substantial additional cash flow. The Tampa facility's planned expansion into commercial inverters and optimizers in Q1 2025 suggests further credit generation potential.
The rapid scaling of U.S. manufacturing operations shows impressive execution. The Austin facility reaching 500 MW quarterly production and maintaining it for multiple quarters indicates stable operations and supply chain management. The Tampa facility's expansion timeline and 2 million unit quarterly capacity target for Power Optimizers represents significant domestic manufacturing capability.
This domestic production shift reduces supply chain risks and shipping costs while potentially accelerating delivery times to U.S. customers. The ability to generate and monetize tax credits while building domestic manufacturing expertise creates a competitive advantage in the U.S. market.
Ronen Faier, Interim Chief Executive Officer of SolarEdge, said: “The Inflation Reduction Act and new §45X of the
Ariel Porat, Chief Financial Officer of SolarEdge, said: “The liquidity provided by the sale of these credits will enhance our cash position, further strengthening our balance sheet and enable us to accelerate our investment in our
The tax credits were generated from the sale of inverters produced in the first half of 2024 at SolarEdge’s facility in
SolarEdge’s second
The transaction was facilitated by the Crux Climate platform.
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. SolarEdge is online at www.solaredge.com.
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Investor Contacts
SolarEdge Technologies, Inc.
JB Lowe, Head of Investor Relations
investors@solaredge.com
Sapphire Investor Relations, LLC
Erica Mannion or Michael Funari
investors@solaredge.com
Source: SolarEdge Technologies, Inc.
FAQ
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