Participation improves economics of SolarEdge systems for installers and system owners
SolarEdge Technologies, Inc. ("SolarEdge") (NASDAQ: SEDG), a global leader in smart energy, announced today that its StorEdge® inverters were selected to be part of National Grid's ConnectedSolutions program that is being rolled out in Massachusetts and Rhode Island. Owners of new and pre-installed StorEdge inverters are eligible to receive financial incentives for participating in the program that relies on SolarEdge's centrally managed grid services platform. This program enables National Grid to provide affordable and additional types of energy to customers to help meet energy demand peaks.
Launched in the beginning of July, the ConnectedSolutions program will charge and discharge batteries of participating StorEdge system owners in order to supply energy during times of high demand. By improving the payback for solar-plus-storage systems and encouraging higher volumes of installations, the program offers benefits to both system owners and PV installers.
"National Grid's leadership in supporting distributed renewable energy resources demonstrates how the energy market is undergoing a strategic transition," stated Lior Handelsman, SolarEdge's VP of Marketing and Product Strategy, Founder. "SolarEdge is dedicated to help drive this transition with innovative energy ecosystems that support smart management at both the local and grid level."
"At National Grid, we are committed to implementing creative and innovative solutions to provide cleaner and more cost-effective energy to our customers. We are excited that SolarEdge is a key player in the launch and continued expansion of our ConnectedSolutions program," stated John Isberg, Vice President of Customer Solutions at National Grid. "SolarEdge's fleet of pre-installed StorEdge inverters are helping us successfully kick off this program and its many qualified installers will also assist in adding new participants in order to significantly increase the program's reach."
More information regarding eligibility and participation in the ConnectedSolutions program is available at: https://www.solaredge.com/us/connected-solutions-ma
SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, UPS, and grid services solutions. SolarEdge is online at solaredge.com