SolarEdge Announces Expanded Supply Agreement With Sunrun
February 23, 2021 at 08:30 AM EST
SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy technology, announced that it has entered into a strategic supply agreement with Sunrun (Nasdaq: RUN), a leading U.S. provider of residential solar, battery storage, and energy services. As part of the agreement, Sunrun will offer SolarEdge’s next generation PV inverter, Energy Hub, for residential customers.
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SolarEdge's Energy Hub Inverter (Graphic: Business Wire)
SolarEdge is a key partner helping Sunrun to support a complete residential energy ecosystem with seamless integration of smart energy devices and optimized home energy management through its Energy Hub inverter. SolarEdge and Sunrun believe in an electrified future and a continued reduction in reliance upon fossil fuels. Together, the companies are focused on expanding value to customers through the offering of products such as smart energy devices, battery storage, EV chargers, and other products to further the electrification of the home.
“SolarEdge is pleased to expand its partnership with Sunrun, a company that is instrumental in bridging the gap between utilities and managed networks of home solar energy systems,“ said Zivi Lando, CEO of SolarEdge.
“We’re expanding our new supply agreement with SolarEdge and advancing our shared vision to accelerate the adoption of innovative, smart energy technologies to power a future that runs on the sun,” said Lynn Jurich, co-founder and CEO of Sunrun. “Sunrun using the SolarEdge Energy Hub will help drive the adoption of more affordable and reliable electricity, powered by home solar and batteries.”
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, UPS, electric vehicle powertrains, and grid services solutions. SolarEdge is online at solaredge.com
Sunrun Inc. (Nasdaq: RUN) is the nation's leading home solar, battery storage, and energy services company. Founded in 2007, Sunrun pioneered home solar service plans to make local clean energy more accessible to everyone for little to no upfront cost. Sunrun's innovative home battery solution, Brightbox, brings families affordable, resilient, and reliable energy. The company can also manage and share stored solar energy from the batteries to provide benefits to households, utilities, and the electric grid while reducing our reliance on polluting energy sources. For more information, please visit www.sunrun.com.