SolarEdge Technologies will start operations at its new 2GWh lithium-ion cell plant in South Korea in the first half of 2022.
Since 2020, the company started the construction of this factory, called Sella 2.
The new factory is being built to meet the growing global demand for lithium-ion cells and batteries, specifically in the energy storage systems (ESS) and e-Mobility markets.
Sella 2 is expected to begin manufacturing trials in the first half of 2022.
The company is a leading provider of an optimized inverter solution that has changed the way energy is collected and managed in photovoltaic systems.
In particular, its optimized direct current, or DC, inverter system maximizes power generation at the individual photovoltaic module level while reducing the cost of energy produced by the solar photovoltaic system, for a better return on investment.
Additional benefits of the optimized DC inverter system include comprehensive and advanced safety features, improved design flexibility, and improved O&M, or O&M with remote and module-level monitoring.
Additionally, this SolarEdge power hub inverter supports, among other things, connection to a DC battery for full or partial home backup, and optional connection to the SolarEdge smart EV charger.
The typical SolarEdge optimized inverter system consists of power optimizers, inverters, a communication device that enables access to a cloud-based monitoring platform, and in many cases additional smart power management solutions.
Overall, SolarEdge Technologies solutions address a wide range of solar market segments, from residential solar installations to commercial and small-scale utility solar installations.
Since the introduction of the optimized inverter solution in 2010, SolarEdge has expanded its activity to other areas of smart energy technology, both through organic growth and through acquisitions.
Now SolarEdge offers power solutions that include not only residential, commercial and small-scale utility photovoltaic systems, but also product offerings in the areas of energy storage or ESS systems and backup, including our own power bank battery. SolarEdge, electric vehicle or EV components and charging capabilities, home power management, grid services and virtual power plants, lithium-ion batteries, and uninterruptible power supply, known as UPS solutions.
In the third quarter of 2020, the company began commercial shipments to the United States from our manufacturing facility in northern Israel, Sella 1.
Sella 1’s proximity to its R&D team and laboratories enables the company to accelerate new product development cycles, as well as define newly developed equipment and product manufacturing processes that can then be adopted by its contract manufacturers throughout the world.
As of September 30, 2021, the company has shipped approximately 78.8 million power optimizers and 3.3 million inverters.
More than 2.3 million installations, many of which may include multiple inverters, are currently connected and monitored through its cloud-based monitoring platform.
Its revenues for the three months ended September 30, 2021 and 2020 were $ 526.4 million and $ 338.1 million, respectively.