SolarEdge
SolarEdge is an Israeli company that makes and sells solar inverters for photovoltaic arrays, energy monitoring software, battery energy storage systems, and other associated goods and services to residential, commercial, and industrial customers. The company was formed in 2006 and includes offices in the US, Germany, Italy, and Japan. It is set up as a business in Delaware. The company was the first to successfully put power optimizers on the market. These are devices that track the maximum power point (MPPT) at the module level before transmitting the electricity back to a central generator. Many solar PV systems use central inverters. The panels are joined in a series to produce a string, which transfers all the direct current (DC) electricity it makes to the inverter to be turned into alternating current (AC) that may be used on the grid. The most significant problem with this method is that maximum power point tracking (MPPT) is done for the complete string. This means that production is restricted by the output of the panel with the least power. Shade and weather can alter how well something operates.
SolarEdge overcomes this problem using power optimizers, small devices that attach behind each solar panel and offer module-level MPPT before delivering the energy to a central transformer. Power optimizers also help you keep an eye on how much energy is being made at the panel level instead of at the whole or string level, which is how typical central inverters work.
Since it started, SolarEdge has developed a lot, and its financial performance proves this. SolarEdge reached a record $1.2 billion in revenue in 2019, which is a 44% increase from the year before. Gross profit was up by 37% year-over-year to $720 million, and net income went up by 48% to $275 million. Net income rose 48% to $223 million. This year, SolarEdge has proceeded to launch new products and join new markets, which has helped it make even more money.
Founded: 2006
Headquarters: Herzliya, Israel
Website: https://solaredge.com/
