The 2009 Frost & Sullivan European Solar Photovoltaic Hot Investment Opportunity Award is presented to SolarEdge Technologies Inc. (SolarEdge). The company has a strong focus on Germany, United States, France, Italy, Spain and Japan, all of which have displayed the largest growth potential for solar photovoltaics (PV). With its groundbreaking distributed direct current (DC) system architecture, SolarEdge is comfortably placed to gain the most out of the revolutionary changes it promises to bring to the solar energy industry.
"One of the key strengths of SolarEdge that sets it a whole year ahead of its competitors is the intellectual property that it has gathered over the two and half years since its inception," notes Frost & Sullivan Research Analyst Sivapriya Ramakrishnan. "The company is the proud owner of the proprietary distributed DC system, which includes the SolarEdge PowerBox™, the SolarEdge inverter and SolarEdge Monitoring Portal."
SolarEdge’s technology has proved to be a vital catalyst in increasing the competitiveness of solar energy in comparison to conventional energy sources. The technology has significantly altered the efficiency levels of a PV module and the cost involved in producing solar energy. The company has already filed 25 patents to protect its basic architecture in distributed solar power harvesting technologies, exhibiting its immensely innovative capabilities.
"SolarEdge has managed to develop and launch products that are not only differentiated from similar technologies available in the market, but has also succeeded in enhancing the efficiency of PV modules," remarks Ramakrishnan. "The company’s power harvesting technology promises to boost efficiency by an impressive 15 to 20 per cent and reduce the cost of maintenance by 15 per cent."
Moreover, SolarEdge’s system fares better than its immediate competitors, which include central power harvesting systems and micro-inverters. While micro-inverters add to the cost component of the panel, central systems have a lifespan of below ten years. SolarEdge’s DC architecture is projected to last up to 25 years and is priced the same as conventional power harvesting systems.
"SolarEdge’s architecture will be available for general consumption from June 2009 and it has already set a target of 20 megawatts booking by the end of 2009, of which half is already queued up," comments Ramakrishnan. "The company’s primary client focus is on Germany, United States, Japan and other European countries such as France, Italy and Spain."
The company has forged strategic alliances with several leading module manufacturers and PV system integrators in the solar energy domain. The company has key partnerships with BP Solar and Schott Solar, while additional partnerships have been signed with module companies in Asia, Spain, France and Germany. SolarEdge plans to forge similar alliances with module companies in Japan to expand its product’s reach.
The Frost & Sullivan Hot Investment Opportunity Award is bestowed each year upon the private company that has demonstrated excellence in managing its growth, attracting venture capital funding, maintaining a strong management team, and establishing a sustainable competitive advantage in an attractive market. The Award recipient must be well positioned in a growing market and have demonstrated the potential to obtain market leadership in the near-term. Finally, clear exit paths must exist, along with the potential for exceptional investment returns at an acceptable risk level for potential investors.
Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About SolarEdge Technologies Inc.
SolarEdge is a provider of smart, holistic PV power harvesting and monitoring solutions for maximum energy at a lower cost per watt. The company works with industry-leading partners to embed its active electronic solution directly into PV panels. Unlike centralized architectures that cannot optimize the power of each panel, only SolarEdge performs MPPT per panel while communicating across existing power lines for granular visibility and control. As a result, the SolarEdge systemic approach provides more power from any given installation, eliminates design constraints, provides complete visibility, solves all safety issues and provides anti-theft, all while reducing the cost of energy. SolarEdge is online at www.solaredge.com.
Yael Eldar, SolarEdge, +972-54-4419940, email@example.com
Tiffany Archambault, Schwartz Communications, +1 (781) 684-0770, firstname.lastname@example.org
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Ciara Jamie Connolly, Senior Events & Promotions Executive/ EMEA, Best Practices, Frost & Sullivan, email@example.com, P: 0044 (0) 207.915.7868, F: 0044 (0) 207.730.3343, www.frost.com