SolarEdge Joins Rocky Mountain Power’s Wattsmart Battery Program Offering Integrated Solar + Storage

Rhea-AI Summary

SolarEdge Technologies (NASDAQ: SEDG) announced its SolarEdge Home Battery has qualified for Rocky Mountain Power's Wattsmart Battery program. This initiative aims to leverage solar power and battery technology for over 60,000 existing rooftop solar customers in Utah and Idaho. The program has already enrolled over 3,000 batteries and focuses on improving grid stability while reducing costs. The partnership highlights the ability of SolarEdge's technology to respond rapidly in grid events, facilitating a more resilient energy system.

Positive

• Qualification of SolarEdge Home Battery for Wattsmart program enhances adoption among rooftop solar customers.
• Partnership aims to improve grid stability and increase renewable energy use in Utah and Idaho.

Negative

• None.

SolarEdge offers an integrated solar + battery storage solution – meeting the utility’s demands for rapid and flexible deployment of backup power and providing enhanced energy efficiency for solar rooftop owners

MILPITAS, Calif. & SALT LAKE CITY--(BUSINESS WIRE)-- SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), and grid operator Rocky Mountain Power today announced the qualification of the SolarEdge Home Battery to join Rocky Mountain Power’s award-winning Wattsmart Battery program.

The integrated solar + battery solution will help improve grid stability, enable greater use of renewables, and keep costs among the lowest in the nation.

This marks an important next step in Rocky Mountain Power’s efforts to leverage customer-generated solar power along with battery technology in the homes of over 60,000 existing rooftop solar customers in Utah and Idaho. SolarEdge’s addition will improve grid stability, enable greater use of renewables, and keep costs among the lowest in the nation.

Launched in 2021, the Wattsmart Battery program utilizes a growing fleet of residential batteries to help manage the electric system during peak usage periods.

The groundbreaking program has over 3,000 batteries currently enrolled in Utah and Idaho. The SolarEdge partnership will allow Rocky Mountain Power to take advantage of the fast response and accurate cloud control of SolarEdge smart inverters and distributed batteries to help balance the grid in real-time while building toward the grid of the future.

“Wattsmart is an innovative program, but what really sets it apart from other VPPs is the speed of deployment. While typical demand-response programs work on a day-ahead basis, the Wattsmart program is designed to respond on-demand with almost immediate response in unplanned grid events,” said Peter Mathews, SolarEdge North America general manager. “The more flexibility and speed battery assets can provide, the more valuable they are to grid operators – both as a contingency and frequency reserve. As we continue to move towards a net-zero economy, this level of optimization will become the standard for VPP models, allowing grid operators such as Rocky Mountain Power to build a resilient and flexible distributed energy grid of the future.”

Homeowners joining the Wattsmart Battery program with the DC-Coupled SolarEdge Home Battery will benefit from higher efficiency due to its ability to directly store DC power from the sun, reducing the number of energy conversions and reducing energy loss.

“When a customer participates in the program, they are partnering with Rocky Mountain Power to innovate for the future and become part of a sustainable energy grid solution,” said Bill Comeau, Rocky Mountain Power vice president of customer experience and innovation. “The SolarEdge Home Battery, along with its advanced grid-connectivity capabilities, will help us to advance that effort.”

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. SolarEdge is online at www.solaredge.com

About Rocky Mountain Power

Rocky Mountain Power provides safe and reliable electric service to more than a million customers in Utah, Wyoming, and Idaho. The company works to meet customers’ growing electricity needs while protecting and enhancing the environment. Rocky Mountain Power is part of PacifiCorp, one of the lowest-cost electricity providers in the United States. More information at rockymountainpower.net.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220928005626/en/

Lily Salkin

Global Public and Media Relations Manager

Lily.salkin@solaredge.com

Dana Noyman

Head of Corporate Communications and Global PR

dana.noyman@solaredge.com

Source: SolarEdge Technologies, Inc.

FAQ

What is the significance of SolarEdge's Home Battery in the Wattsmart program?

The SolarEdge Home Battery improves grid stability and is integrated into Rocky Mountain Power's Wattsmart program, enhancing energy efficiency for solar customers.

How many batteries are currently enrolled in Rocky Mountain Power's Wattsmart program?

Over 3,000 batteries are currently enrolled in the Wattsmart Battery program.

What states are involved in the Wattsmart Battery program with SolarEdge?

The Wattsmart Battery program with SolarEdge involves customers in Utah and Idaho.

What is the role of SolarEdge technology in the Wattsmart program?

SolarEdge technology provides rapid response and accurate cloud control to balance the grid in real-time during peak usage events.