Solaredge Technologies Inc Stock Price, News & Analysis

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.

SolarEdge Technologies (NASDAQ: SEDG) has unveiled its new S-Series Power Optimizers at RE+ in Anaheim, California, marking a significant advancement in commercial photovoltaic (PV) safety and efficiency. The new optimizers integrate SolarEdge Sense Connect technology, which detects overheating at the connector level to prevent electric arcs, enhancing operational safety. With a 99.5% efficiency rating and designed for high-power modules, the S-Series optimizers promise reduced operational costs and improved energy yield.

SolarEdge Technologies (NASDAQ: SEDG) has unveiled the SolarEdge Home Load Controller at the RE+ trade show in Anaheim, California. This innovative device allows homeowners to manage significant energy loads such as air conditioners and pumps through the mySolarEdge App, enhancing backup times during grid outages. Compact and easy to install, it integrates wirelessly into the SolarEdge ecosystem without complicated wiring. By optimizing energy consumption, the device aims to increase solar self-consumption and promote energy independence.

Ampt LLC announced that the U.S. International Trade Commission (ITC) has launched an investigation into SolarEdge Technologies (NASDAQ: SEDG) based on allegations of patent infringement. The investigation stems from Ampt's complaint requesting a ban on the import and sale of SolarEdge's power systems and components that violate Ampt’s patents. The involved products include power optimizers and inverters. Ampt aims for a decision by the end of 2023. Additionally, Ampt filed a patent infringement lawsuit in Delaware, seeking substantial damages and an injunction.

SolarEdge Technologies, Inc. (Nasdaq: SEDG) reported record revenues of $727.8 million for Q2 2022, marking an 11% increase quarter-over-quarter and a 52% rise year-over-year. The solar segment alone generated $687.6 million, up 13% from the prior quarter. However, GAAP net income fell 54% to $15.1 million, and net diluted EPS decreased to $0.26. The company expects Q3 revenues between $810 million and $840 million, with non-GAAP gross margins projected at 26% to 29%. Despite supply chain challenges, SolarEdge aims for sustainable growth.

Ampt LLC has filed a complaint with the U.S. International Trade Commission against SolarEdge Technologies (NASDAQ: SEDG), seeking to ban the import of its infringing products. The complaint alleges that SolarEdge unlawfully uses Ampt's patented optimizer technology. Concurrently, Ampt has initiated a similar action in the U.S. District Court in Delaware for substantial monetary damages. The ITC action requests an exclusion order against SolarEdge's infringing systems and components, which include power optimizers and inverters.

SolarEdge Technologies (NASDAQ: SEDG) will announce its Q2 2022 financial results on August 2, 2022, after the market closes. A conference call is scheduled for 4:30 P.M. ET on the same day to discuss the results. Interested parties can access the live call by dialing the provided phone numbers or via a webcast available on SolarEdge’s Investor Relations website. A recording will be accessible for about 30 days post-call.

SolarEdge Technologies has announced the opening of its new battery cell manufacturing facility, Sella 2, in South Korea. This 2 GWh facility will produce test cells and is expected to ramp up production in the second half of 2022. Sella 2 aims to bolster SolarEdge's supply of lithium-ion batteries, supporting its energy storage solutions and enhancing supply chain resilience. The facility is designed to manufacture batteries for various applications, including residential solar and energy storage systems.