Israeli startup SolarEdge partners with NASDAQ-traded Flextronics (FLEX) to ramp up solar energy harvesting systems.
Solar energy projects in Israel’s northern sectors are sure to get a boost from a signed agreement between SolarEdge Technologies Ltd and Flextronics Inc to produce systems for improving the efficiency of photovoltaic panels at Flextronics’ plant in Migdal Ha’Emek – to be sold all over the world.
SolarEdge which develops a system that maximizes power harvesting from PV installations (PowerBoxes – which are power optimizers that connect to the solar panels, as well as a DC-AC inverter and a monitoring portal), aims to ramp up production of solar power harvesting systems. The company was mentioned by Green Prophet back in August, 2008, in the article A Quick Guide to Israel Solar Energy Companies. And was recently voted by FAST as a Top 10 innovative company. SolarEdge is expecting sales of over 45MW (Mega Watts) of its products for 2010.
“We currently ship our products to North America, the EU, South-East Asia and Australia. Solar projects in North Israel will benefit from our products as well as projects in other parts of Israel and the rest of the world,” a company’s marketing rep tells Green Prophet.
SolarEdge’s power harvesting systems lower the average cost per watt in any typical photovoltaic installation via increased wattage and lower costs, provide for easier and cheaper installation, and help make Photovoltaic (PV) installations relevant in more sites.
The deal being worked out between these two companies will result in the manufacture of solar energy systems that will boost the amount of electricity output by photo voltaic arrays by as much as 25% and “provide superior monitoring and control without increasing costs.”
Flextronics, founded in Silicon Valley in 1969, which employs about 100 people in Israel, expects to hire up to 250 more over the next two years. Solaredge hopes to double its sales to as much as $80 million by 2011. The company raised $11.7M in 2007 and $23M in 2009, despite the world economic downturn. Shareholders include American companies like General Electric, itself a leader in the solar energy field.
SolarEdge was also mentioned last October in another Green Prophet article which mentioned its success in raising funds from GE and other investors. We’ve noted numerous other solar energy companies including Seven Solar Innovators From Israel That Could Fuel Our Planet. Solaredge announced last summer that “it would supply its technology to BPGroup plc’s solar energy unit, BP Solar Global Ltd , which has affiliates in Australia, Europe, India, South Korea, the UK, and the USA.
More articles about SolarEdge and other Israeli Solar Energy Firms:
Solar Energy and 9 Israel Related Clean Tech Companies
A Quick Quide to Israel Solar Energy Companies
Sunday Solar to Build Large Solar Array on “Damaged” Negev Land
(This article was last updated on March 18, 2010).