SolarEdge’s Annual Sustainability Report Highlights 40M Metric Tons of CO2e Avoided Annually Through Usage of its Solar Solutions

Rhea-AI Summary

SolarEdge Technologies has released its 2023 Sustainability Report, highlighting significant advancements in ESG (Environment, Society, Governance).

Key achievements include avoiding 40 million metric tons of CO2e annually via SolarEdge PV systems, equivalent to removing 9.6 million gasoline cars from roads.

Additionally, over 3.4 million homes and over 50% of Fortune 100 companies use SolarEdge technology.

The company earned high sustainability ratings, including a Silver medal from EcoVadis and placement in the top 10% of ISS ESG ratings for the Electronic Components sector.

SolarEdge also featured in the 2024 Corporate Knights list of the top 100 sustainable corporations globally.

All R&D and manufacturing sites are ISO certified, and employees contributed over 2,300 volunteer hours in 2023.

Positive

• 40 million metric tons of CO2e avoided annually.
• Over 3.4 million homes equipped with SolarEdge PV systems.
• Over 50% of Fortune 100 companies use SolarEdge technology.
• High sustainability ratings: EcoVadis Silver medal, ISS ESG top 10%, MSCI ESG Rating of A.
• Included in the 2024 Corporate Knights list of top 100 sustainable corporations.
• 100% of R&D and manufacturing sites ISO certified.
• 2,300+ volunteer hours promoting sustainability and education.

Negative

• None.

By the end of 2023, over 3.4 million homes were equipped with SolarEdge PV systems; Over 50% of Fortune 100 Companies have SolarEdge Technology on their Rooftops

MILPITAS, Calif.--(BUSINESS WIRE)-- SolarEdge Technologies, Inc. (“SolarEdge” or the “Company”) (NASDAQ: SEDG), a global leader in smart energy technology, today announced the release of its 2023 Sustainability Report, detailing the progress made in the Company’s sustainability strategy in the Environment, Society, Governance (ESG) fields and representing its commitment to accountability and transparency to stakeholders.

SolarEdge 6.6MW ground mount solar installation in Germany (Photo: SolarEdge Technologies)

Zvi Lando, Chief Executive Officer of SolarEdge: “Today’s release of our 2023 Sustainability report highlights the significant advancements we made toward our corporate ESG goals in 2023. We are deeply committed to accelerating the move to a low-carbon world and will continue to make progress on our path to enhance our corporate ESG practices. Our Sustainability Report details the many ways in which we deliver on our promise to power the future of energy through our products, people and business practices.”

Some of the key highlights from the 2023 Sustainability Report include:

• 40 million metric tons CO2e are avoided annually through the usage of SolarEdge DC-optimized PV systems, equivalent to permanently removing ~9.6 million gasoline powered cars off the roads, globally.
• Over 3.4 million homes are equipped with SolarEdge PV systems.
• Over 50% of Fortune 100 companies have SolarEdge technology on at least one of their rooftops.
• SolarEdge was recently included in the 2024 Corporate Knights list of the top 100 sustainable corporations in the world.
• EcoVadis awarded SolarEdge with a ‘Silver medal’ sustainability rating, placing the company in the top 15% of over 130,000 globally rated companies.
• ISS ESG rating among top 10% of highest rated companies in the Electronic Components sector, and best possible ISS Governance Quality Score of ‘1’
• MSCI ESG Rating of A.
• Upper-tier scores in additional ESG ranking, full details here.
• 100% of manufacturing and R&D sites are certified to ISO standards for quality, environmental and safety management.
• Over 2,300 hours of volunteering by employees in 2023, promoting STEM and renewable energy education, supporting sustainability and climate action and enhancing gender equality and diversity.

View SolarEdge’s full 2023 Sustainability Report

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20240520548129/en/

PR Contact

Lily Salkin

Global Public and Media Relations Manager

Lily.salkin@solaredge.com

Dana Noyman

Head of Corporate Communications & PR

dana.noyman@solaredge.com

Investor Contact

JB Lowe

Head of Investor Relations

investors@solaredge.com

Source: SolarEdge Technologies, Inc.

FAQ

What progress did SolarEdge report in its 2023 Sustainability Report?

SolarEdge reported avoiding 40 million metric tons of CO2e annually, equipping over 3.4 million homes with PV systems, and having technology on over 50% of Fortune 100 company rooftops.

How much CO2e does SolarEdge avoid annually with its PV systems?

SolarEdge avoids 40 million metric tons of CO2e annually with its PV systems.

What is the significance of SolarEdge’s sustainability ratings?

SolarEdge received a Silver medal from EcoVadis, placed in the top 10% of ISS ESG ratings for the Electronic Components sector, and earned an MSCI ESG Rating of A.

How many homes are equipped with SolarEdge PV systems?

Over 3.4 million homes are equipped with SolarEdge PV systems.

What percentage of Fortune 100 companies have SolarEdge technology?

Over 50% of Fortune 100 companies have SolarEdge technology on their rooftops.

What certifications do SolarEdge’s R&D and manufacturing sites hold?

All of SolarEdge’s R&D and manufacturing sites are certified to ISO standards for quality, environmental, and safety management.

What are some volunteer initiatives by SolarEdge employees?

SolarEdge employees contributed over 2,300 hours in 2023, promoting STEM and renewable energy education, supporting sustainability, and enhancing gender equality and diversity.