Tigo Energy Expands Comprehensive Residential Energy Solution for Italy with GO EV Charger

Rhea-AI Summary

Tigo Energy, Inc. (NASDAQ: TYGO) launches GO EV Charger in Italy, offering solar installers a seamless e-mobility solution. The charger integrates with Tigo EI Residential Solar Solution, providing high flexibility, multiple charging modes, and remote management through the Tigo Energy Intelligence app.

Insights

Market Research Analyst

The introduction of the GO EV Charger by Tigo Energy, Inc. in the Italian market represents a strategic move to capitalize on the growing demand for electric vehicle (EV) infrastructure. This expansion aligns with the broader trend of integrating renewable energy solutions with EV charging capabilities, addressing a key market need for seamless home energy systems.

The integration of the GO EV Charger with Tigo's existing residential solar solutions could potentially increase the company's market share in the residential solar-plus-storage sector. Given the European Union's commitment to reducing carbon emissions, products like the GO EV Charger that support e-mobility and renewable energy adoption are likely to see increased demand. This could translate into higher sales volumes and improved revenue streams for Tigo Energy, possibly impacting its stock valuation positively in the medium to long term.

Energy Technology Specialist

The technical specifications of the GO EV Charger, such as the option for single- or three-phase variants up to 22 kW, multiple charging modes and RFID user identification, suggest a product designed to cater to a diverse customer base with varying power needs. The ability to remotely manage the charger through the Tigo Energy Intelligence app adds convenience and positions the product as a user-friendly solution in the residential market.

Moreover, the integration of the charger with solar-plus-storage solutions can enable homeowners to maximize the use of self-generated solar power, enhancing energy independence and potentially reducing electricity costs. This technological synergy may encourage more consumers to invest in solar energy systems, fostering growth in the residential solar market.

Financial Analyst

The launch of the GO EV Charger by Tigo Energy, Inc. in Italy could be seen as a move to diversify the company's product portfolio and capture new revenue streams. The 60-month warranty and the protective enclosure for indoor or outdoor installation indicate a commitment to quality and durability, which may enhance the brand's reputation and customer satisfaction.

Investors should monitor the adoption rate of the GO EV Charger in Italy, as it could serve as an indicator of Tigo Energy's ability to penetrate European markets with new products. Successful deployment and customer satisfaction could signal strong future performance and bolster investor confidence. However, the competitive landscape and the rate at which the Italian market adopts EVs and solar energy solutions will be critical factors influencing the financial impact of this product launch.

Recently installed in Italy by Ferri Quinto, the GO EV Charger will be on display at the KEY tradeshow in Rimini, providing PV installers with an incremental opportunity for a seamless home energy solution.

CAMPBELL, Calif.--(BUSINESS WIRE)-- Tigo Energy, Inc. (NASDAQ: TYGO), a leading provider of intelligent solar and energy software solutions, today announced the launch of the GO EV Charger for the Italian market. A smart residential electric vehicle (EV) charging station, GO EV Charger offers solar installers a way to add e-mobility that seamlessly integrates with the Tigo EI (Energy Intelligence) Residential Solar Solution, which includes inverter, battery system, TS4 MLPE devices, and everything else required for fast, flexible, and dependable solar installations. The Tigo EI Residential Solar Solution will be on display from February 28th to March 1st at KEY - The Energy Transition Expo in Rimini, Italy.

Previously released for the German market, the GO EV Charger features seamless integration with the Tigo EI Residential solar-plus-storage solution. The GO EV Charger is available in single- or three-phase variants, up to 22 kW, and delivers high flexibility with multiple charging modes, current limits, and scheduling options. In addition to integrated RFID for authorized-user identification, end-users can manage the GO EV Charger remotely through the Tigo Energy Intelligence (EI) app. The Tigo Energy Intelligence platform also provides powerful commissioning, monitoring, and fleet management functions for installers. The Tigo GO EV Charger features a protective enclosure for indoor or outdoor installation and a 60-month warranty.

“We take pride in providing our customers with a system that not only delivers high performance, ease of use, and reliability but empowers us on the installer side to provide outstanding support remotely,” said Quinto Ferri, Owner of Ferri Quinto & C. s.n.c. “We rely on the Tigo EI Residential solution because it is designed to enable faster installation and commissioning, thus allowing our customers to benefit from solar energy sooner. We also understand that every customer's energy requirements are unique, so the flexibility offered by Tigo's solar-plus-storage solution allows us to provide bespoke solutions that cater to each individual's needs and help them achieve their specific energy goals.”

“Solar installers like Quinto lead the way in sustainable home energy in Italy, and with a record of multiple Tigo EI Residential systems already deployed, Ferri Quinto & C. s.n.c. has repeatedly demonstrated their ability to design winning unique solutions that meet customer needs,” said Mirko Bindi, Senior VP Sales EMEA & MD Europe at Tigo Energy. “Exciting times ahead as we unveil a captivating array of innovative solutions, further enriching our products and services our installations partners can offer their customers. As the stack of Tigo EI Residential products expands with options like EV charging, homeowners benefit from a home energy system that optimizes production and consumption, enabling the best possible return on investment.”

In the European market, the Tigo EI Residential Solar Solution now includes the Tigo GO EV Charger as well as Tigo TS4 Flex MLPE products, single-phase and three-phase Tigo inverters, modular DC-coupled Tigo energy storage components, and the Tigo EI Link device. The Tigo TS4 platform is a fundamental building block for solar systems of all sizes and significantly increases energy production by mitigating the impact of shading and module mismatch, providing first-responder safety with rapid shutdown, and enabling system performance insights through module-level monitoring. With module-level monitoring, Tigo EI software processes energy data from the EI Residential System, allowing system owners to manage and monitor energy and installers to monitor and manage their fleets of customer systems efficiently. Since 2007, Tigo has deployed 3.5 GW of Tigo MLPE devices across more than 100 countries on all seven continents, of which Tigo Energy Intelligence monitors more than 1 GWh of daily solar production.

Learn more about Tigo solutions at KEY – The Energy Transition Expo (Quartiere Fieristico di Rimini, Italy, Pav. D1, Booth 001) from February 28th to March 1st. Please use this link to schedule a meeting with a Tigo representative or view the list of Tigo partners exhibiting at the event.

About Tigo Energy

Founded in 2007, Tigo is a worldwide leader in the development and manufacture of smart hardware and software solutions that enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems. Tigo combines its Flex MLPE (Module Level Power Electronics) and solar optimizer technology with intelligent, cloud-based software capabilities for advanced energy monitoring and control. Tigo MLPE products maximize performance, enable real-time energy monitoring, and provide code-required rapid shutdown at the module level. The company also develops and manufactures products such as inverters and battery storage systems for the residential solar-plus-storage market. For more information, please visit www.tigoenergy.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240221652197/en/

Technica Communications

Cait Caviness

Email: tigoenergy@technica.inc

Source: Tigo

FAQ

What is the ticker symbol for Tigo Energy, Inc.?

The ticker symbol for Tigo Energy, Inc. is TYGO.

What is the GO EV Charger launched by Tigo Energy, Inc.?

The GO EV Charger is a smart residential electric vehicle charging station that integrates with the Tigo EI Residential Solar Solution.

Where will the Tigo EI Residential Solar Solution be displayed?

The Tigo EI Residential Solar Solution will be on display at KEY - The Energy Transition Expo in Rimini, Italy from February 28th to March 1st.

What features does the GO EV Charger offer?

The GO EV Charger offers seamless integration, multiple charging modes, current limits, scheduling options, integrated RFID, and remote management through the Tigo Energy Intelligence app.

What warranty does the Tigo GO EV Charger come with?

The Tigo GO EV Charger comes with a 60-month warranty.