DC-coupled design offers higher efficiency
enabling up to 10 days of additional energy per year*
SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a
global leader in smart energy technology, and Sunnova Energy
International, Inc. ("Sunnova") (NYSE: NOVA), a leading U.S. Energy
as a Service (EaaS) provider, today announced the expansion of
their long-standing partnership with the addition of the SolarEdge
Home Battery to the Sunnova EaaS portfolio. The expansion of the
partnership will enable Sunnova’s network of dealers to offer the
SolarEdge Home Battery, in order to better meet homeowners’ demand
for increased energy efficiency and resiliency – crucial in the
current climate of energy price inflation and grid instability.
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The SolarEdge Home Battery offers more
backup power compared to AC-coupled battery solutions (Photo:
SolarEdge Technologies, Inc.)
The SolarEdge Home Battery’s highly efficient DC-coupled design
requires just one power conversion when consuming PV stored energy,
compared to three with AC-coupled batteries. This can add up to 10
days of saved energy for every year of use when compared to a
typical 10kW PV system in self consumption mode. In addition, the
SolarEdge Home Battery provides continuous power, enabling
consumers to power more and larger devices, such as washing
machines and HVACs, for longer periods of time.
William J. (John) Berger, founder and Chief Executive Officer
of Sunnova commented: “Homeowners’ energy demands are
increasing at a time when utility bills are skyrocketing and grid
instability is becoming more frequent. The addition of the
SolarEdge Home Battery to our Energy as a Service offering marks an
important next step forward in our mission to deliver highly
robust, industry-leading solutions that meet homeowner demand to
live in a more energy-efficient and energy-independent way.”
“Sunnova’s extensive network of dealers now have access to our
highly efficient, high-power DC battery that will enable homeowners
to take even greater control of their energy usage and power more
of their lives with clean, renewable solar energy,” commented
Zvi Lando, CEO, SolarEdge Technologies. “We look forward to
building on our successful relationship with Sunnova to help unlock
the full potential of solar power for additional homeowners across
the U.S.”
Each SolarEdge Home Battery provides 9.7kWh of backup capacity
and up to nine batteries (three per inverter) can be stacked on a
single backup system, for up to 87.3kWh of backup capacity and 30kW
of continuous power. The battery is compliant with the UL9540A
advanced safety standard. It is also designed to meet installer
demand for a residential solution that is fast and cost effective
to install. Accessible cable management and wireless communication
speed up installation and decrease commissioning times.
* when compared to a typical 10kW PV system in self consumption
mode
About Sunnova
Sunnova Energy International Inc. (NYSE: NOVA) is a leading U.S.
Energy as a Service (EaaS) provider with customers across the U.S.
and its territories. Sunnova's goal is to be the source of clean,
affordable, and reliable energy with a simple mission: to power
energy independence so that homeowners have the freedom to live
life uninterrupted®. For more information, please visit
sunnova.com.
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
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act and Section 21E of
the Securities Exchange Act of 1934, as amended. Forward-looking
statements generally relate to future events or Sunnova’s future
financial or operating performance. In some cases, you can identify
forward-looking statements because they contain words such as
“may,” “will,” “should,” “expect,” “plan,” “anticipate,” “going
to,” “could,” “intend,” “target,” “project,” “contemplates,”
“believe,” “estimate,” “predict,” “potential” or “continue” or the
negative of these words or other similar terms or expressions that
concern Sunnova’s expectations, strategy, priorities, plans or
intentions. Forward-looking statements in this press release
include, but are not limited to, statements regarding the benefits
and impact of Sunnova’s current and future product offerings to
consumers. Sunnova’s expectations and beliefs regarding these
matters may not materialize, and actual results in future periods
are subject to risks and uncertainties that could cause actual
results to differ materially from those projected, including risks
regarding our ability to forecast our business due to our limited
operating history, the effects of the coronavirus pandemic on our
business and operations, results of operations and financial
position, our competition, changes in regulations applicable to our
business, fluctuations in the solar and home-building markets,
availability of capital, supply chain uncertainty, our ability to
attract and retain dealers and customers and our dealer and
strategic partner relationships. The forward-looking statements
contained in this press release are also subject to other risks and
uncertainties, including those more fully described in Sunnova’s
filings with the SEC, including our Annual Report on Form 10-K for
the year ended December 31, 2021, and our subsequent Quarterly
Reports on Form 10-Q. The forward-looking statements in this press
release are based on information available to Sunnova as of the
date hereof, and Sunnova disclaims any obligation to update any
forward-looking statements, except as required by law.
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SolarEdge SolarEdge Media Contacts: 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
SolarEdge Investor Contacts: SolarEdge Technologies, Inc. Ronen
Faier, Chief Financial Officer +1 510-498-3263
investors@solaredge.com
Sapphire Investor Relations, LLC Erica Mannion or Michael Funari
+1 617-542-6180 investors@solaredge.com
Sunnova Energy International Sunnova Media Contact: Matt
Dallas 917-363-1333 matt.dallas@icrinc.com
Sunnova Investor & Analyst Contact Rodney McMahan
281-971-3323 Rodney.McMahan@sunnova.com
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