SolarEdge to Power Xcel Energy’s New ‘Renewable Battery Connect’ Virtual Power Plant Incentive Program in Colorado
August 22 2023 - 7:30AM
Business Wire
SolarEdge Home Battery owners in Colorado that
are eligible1 to enroll can receive meaningful financial benefits
out of active participation in a new incentive program for
solar-battery energy while helping to stabilize Colorado’s grid
SolarEdge’s innovative software will
automatically manage battery charge and discharge during events,
maximizing benefits for both the utility and program
participants
SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG) today
announced the inclusion of the SolarEdge Home Battery in Xcel
Energy’s new ‘Renewable Battery Connect’ Virtual Power Plant (VPP)
incentive program.
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the full release here:
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SolarEdge to Power Xcel Energy’s New
‘Renewable Battery Connect’ Virtual Power Plant Incentive Program
in Colorado (Photo: Business Wire)
Eligible SolarEdge Home Battery owners in Colorado can now sign
up for the Renewable Battery Connect program and earn meaningful
financial incentives in return for discharging their stored solar
battery energy during times of peak demand, helping to stabilize
the grid.
SolarEdge’s DC-Coupled solution can provide up to 7% more solar
power with industry-leading system efficiency by eliminating the
‘triple-conversion penalty’, with two fewer power conversions
required than AC-coupled alternatives, maximizing benefits for both
homeowners and utilities. SolarEdge’s innovative software is
designed to automatically manage the battery charge and discharge
during scheduled grid control events, simplifying the process for
both the utility and program participants.
Peter Mathews, North America General Manager of
SolarEdge, added: “We worked closely with Xcel Energy to design
a program that meets Colorado’s specific energy requirements, while
also providing an easier and more profitable way for homeowners to
become part of the solution. The combination of our highly
efficient DC-coupled technology and innovative software lays the
groundwork for future VPP growth, as we continue to move towards a
net-zero economy.”
The Renewable Battery Connect incentive program will be added to
SolarEdge’s growing Grid Services portfolio, which saw a 70% growth
in sites enrolled globally in the second quarter of 2023. In the
U.S. 16% of the Company’s battery installations are now enrolled in
grid services programs.
Homeowners interested in learning more about the program can
visit here
About SolarEdge
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, electric vehicle powertrains, and grid
services solutions. SolarEdge is online at www.solaredge.com
1 Xcel Energy residential customers in Colorado who own or lease
a SolarEdge Home Hub Inverter with a SolarEdge Home Battery who
meet the program terms.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230822597157/en/
Investor Contact JB Lowe, Head of Investor Relations
investors@solaredge.com
Press Contact Lily Salkin, Global Public and Media
Relations Manager Lily.salkin@solaredge.com
Dana Noyman, Head of Corporate Communications and Global PR
dana.noyman@solaredge.com
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