Israel

Just two years after reaching 500,000 monitored PV systems, SolarEdge has doubled the mark; one million for anybody keeping score at home.

SolarEdge has recently purchased an Italian EV system manufacturer, a South Korean battery maker, an Israeli UPS producer, internally developed a virtual power plant grid service, and now they’re working with Google to integrate energy management tools into Google Assistant.

In a slow global solar market, SolarEdge grew total shipments 44% year-over-year, expanded its presence in the C&I market, and grew global sales. Margins did slip, and growth rates were slower.

The power electronics maker will buy 75% of Kokam’s shares for $88 million, with an intent to acquire the remainder thereafter. Strategic company acquisitions and close partnerships are characterizing this year’s inverter market, as companies seek to diversify and integrate storage systems and other technologies.

Revenue for the power electronics company rises 22% sequentially in third quarter to reach $167 million, with more than 676 MW of inverters shipped

Israeli module level power electronics firm posts highest gross margin to date despite slowdown in U.S. residential market, which remains the firm’s chief revenue stream.