Middle East

The inverter manufacturer met expectations of growth, slowed down 4th quarter projections, talked of ramping Vietnamese and Hungarian facilities, and generally sounded healthy.

A tribute to Guy Sella has hailed him as “a brilliant man” and a “revolutionary trailblazer”.

During the second quarter SolarEdge increased manufacturing capacity by 25% and shipped over 3.7 million optimizers, which totaled over 1.3 GWac. This upped revenue 43% year on year, and company officials say they are highly confident in their even larger projected ~70% Q3 revenue growth.

U.S. President Donald Trump has removed Turkey from the list of developing nations not subject to Section 201 tariffs on PV cells and modules.

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

Things are hotting up in the tracker world as the desire to squeeze down the price per Watt of solar power intensifies. And the rise of the trackers is attracting some well-known businesses to buy their way into the field.

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.

Caterpillar-branded SunPower modules will be available in Southeast Asia, Africa, South America, and the Middle East – but not yet the United States.

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.