Solaredge Technologies Inc Stock Price, News & Analysis

SolarEdge Technologies (NASDAQ: SEDG) has commenced shipments of its new battery cells for stationary energy storage applications. These cells, produced at the Sella 2 manufacturing facility in South Korea, utilize Nickel Manganese Cobalt (NMC) pouch technology, optimized for various segments including residential, commercial, and utility scale.

The cells boast features like high cycle life (up to 8000 cycles) and high energy density, enhancing their utility in grid-stability applications. With the global stationary storage market projected to increase from 45GWh in 2022 to 164GWh by 2030, SolarEdge aims to bolster its supply chain resilience while meeting the growing demand.

SolarEdge Technologies (NASDAQ: SEDG) and Sunnova Energy International (NYSE: NOVA) have expanded their partnership by incorporating the SolarEdge Home Battery into the Sunnova Energy as a Service portfolio. This collaboration aims to enhance homeowners' energy efficiency and resiliency amid rising energy costs and grid instability. The innovative DC-coupled design of the SolarEdge Home Battery maximizes energy storage, potentially providing up to 10 extra days of energy annually. It features a backup capacity of 9.7kWh and supports scalable installations for greater energy demands.

SolarEdge Technologies (NASDAQ: SEDG) announced its agreement to acquire Hark Systems Ltd., a UK-based IoT SaaS platform that optimizes energy management for commercial and industrial clients. This acquisition aims to enhance SolarEdge's capabilities in energy monitoring, potential savings identification, and carbon emission optimization. Hark's technology is critical for rapid deployment across various industries, including major supermarket chains in the UK. The deal is anticipated to close in Q2 2023, pending customary conditions and regulatory approvals.

SolarEdge Technologies reported record financial results for Q3 2022, achieving revenues of $836.7 million, a 59% increase year-over-year. The solar segment contributed $788.6 million, reflecting a 65% rise. Despite a GAAP gross margin of 26.5%, down from 32.8% last year, operating profit surged 134% quarter-over-quarter to $84.4 million. The company anticipates Q4 revenues between $855 million and $885 million.

SolarEdge Technologies (NASDAQ: SEDG) will announce its Q3 financial results for the period ending September 30, 2022 on November 7, 2022, after market close. A conference call will be held the same day at 4:30 PM ET for discussions regarding these results. Interested parties can join the call through provided contact numbers or via a live webcast available on the company’s investor relations website. A replay will also be accessible approximately two hours post-call for a duration of 30 days.

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.