Disruptor: In the past week SolarEdge has announced partnerships to distribute its technology across Australia and Europe and has been named a Red Herring 100 Winner.
Known for its high costs and lagging efficiency, the solar energy field has been one to watch for many but one to take advantage of for very few. New innovations and incentives in the field however, reported on CNET, offer promise for many solar companies looking to establish themselves. One company that seems to have had little difficulty establishing itself is SolarEdge, a solar power harvesting solution provider based in Israel.
Considered a major disruptor in the field, SolarEdge has been in the news over the past few months regarding everything from partnerships with companies such as Flextronics to products. Yesterday the company announced that it has partnered with Solco to help distribute and install its technology more widely in Australia.
According to Solco CEO Mark Norman,
“Our partnership reflects the intensive quest by both companies to create highly efficient and cost-effective PV systems. The combination of SolarEdge technology and Solco’s technical expertise will significantly enhance the energy output of solar power systems installed in Australia.”
In addition to partnering with Solco, SolarEdge has also partnered with Gadot Solar Solutions to distribute and install SolarEdge technology across Europe.
The distribution deal with Gadot will focus on SolarEdge’s PowerBoxes, which optimizes current solar panel systems and monitors their energy. The PowerBoxes can enable the production of up to 25% more energy and significantly reduce costs.
In March Fast Company listed SolarEdge as one of the world’s 10 Most Innovative Companies in Energy for 2010 and last week SolarEdge was among eight Israeli companies named Red Herring 100 winners. The Red Herring criteria included financial performance, technology innovation and execution of strategy. The company has raised over $57 million in funding, including from GE, and has annual solar sales of about $200 million.
More on solar energy:
SolarEdge Plans Holistic Approach to Solar Energy
Pythagoras Solar Unveils ‘Solar Window’
Quick Guide to Israeli Solar Energy Companies
Taking Israel’s Lead, Solar Water Heater Use on Rise in Egypt