SolarEdge Announces New ‘Rate Saver’ Solar + Battery Solution to Keep Solar Winning in the NEM 3.0 California Market
• New DC-Coupled solar + battery solution provides homeowners who do not require home back-up a more cost-effective way to maximize electricity savings with a battery. • For homeowners, SolarEdge Home ‘Rate Saver’ reduces battery system cost by up to 38% and provides industry-high power yield for maximum Time-of-Use savings, offering superior payback periods. • For Installers, the new time-of-use solution significantly cuts installation and commissioning times. • “This has the potential to be the NEM 3.0 antidote installers are looking for, and homeowners will need, with the loss of net metering,” says longstanding Californian PV installer, Barry Cinnamon, CEO of Cinnamon Energy Systems.
MILPITAS, California - 9 March 2023 - SolarEdge, a global leader in smart energy technology, today announced its new SolarEdge Home ‘Rate Saver' solar + battery solution for California. As the State transitions to a self-consumption market under the new NEM 3.0 Net Billing Tariff, the new DC-Coupled solar + battery solution provides homeowners who do not require home back-up a more cost-effective way to maximize electricity savings with a battery that is integrated with NEM 3.0 specific battery management algorithms.
Amir Cohen, General Manager Solar, North America, SolarEdge, said: "In the U.S. strong demand for batteries for back-up will continue, and now NEM 3.0 will usher in an entirely new use case in California where self-consumption will be the primary driver. As a global leader in smart energy technology, we've experienced Time of Use rate situations in many other markets including Germany, Italy, the UK, and many more countries. Our solution is already in homes around the world and is widely proven for self-consumption markets. In terms of installation complexity, it's as simple as adding an additional module onto the system."
The new SolarEdge Home ‘Rate Saver' solution provides several benefits for California installers that can reduce installation costs and time. In some AC-coupled solutions, commissioning times can last hours, and drive costly incremental days on the job. With the SolarEdge Home, ‘Rate Saver' Solution, there are fewer pieces of equipment to install which reduces wiring time by several hours and does not require a specialist electrician. In addition, no additional breakers in the homes' load center are needed, often eliminating the need for a Main Panel Upgrade (MPU).
Barry Cinnamon, CEO of Cinnamon Energy, commented: "Having sold and installed solar in the California market for several decades, it's clear that the NEM 3.0 Net Billing Tariff requires an entirely new solution for homeowners to see the returns of investment they have become accustomed to. The new SolarEdge Home ‘Rate Saver' solution goes a long way to bridge the savings gap created by NEM 3.0 for homeowners at both the CAPEX and OPEX level, while delivering more installation efficiencies - a win-win for everyone. This has the potential to be the NEM 3.0 antidote installers are looking for, and homeowners will need, with the loss of net metering."
For homeowners looking to add back-up capabilities, back-up can easily be added with the system engineered for high-speed commissioning. Homeowners have two options for back-up: SolarEdge Home ‘Essential Back-Up' to handle essential loads like lights, refrigerators, computers, and garage door openers, and SolarEdge Home ‘Full Home Back-Up', which works across the home managing larger loads like HVAC units and well pumps for longer outage periods.
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, electric vehicle powertrains, and grid services solutions. Visit us at: solaredge.com