solaredge

SolarEdge witnessed record revenues in Europe as sales in North America stagnated in Q3, with the effects of the COVID-19 pandemic still clear and present in the company’s financials.

Inverter manufacturer SolarEdge has joined forces with Schneider Electric to develop a solution the companies say will allow homeowners to control how their solar energy is produced, used and stored.

Inverter manufacturer SolarEdge is seeking to raise up to US$500 million through a private offering, the company confirmed today.

The solar sector’s Q2 results season showed that, for the most part, the pandemic’s impact on deployment in the US was restricted to early in the quarter, helping many companies post better-than-expected performance in Q2. But as Liam Stoker suggests, COVID-19’s tail could be longer than anticipated.

SolarEdge has said the judgement from a patent infringement case against it will have no impact on the company as it confirmed its intent to appeal.

Huawei has won a patent infringement case against SolarEdge in China, with the Guangzhou Intellectual Property Court ordering SolarEdge to pay RMB10 million (US$1.4 million) in compensation.

Having exerted more control over its operational expenditure, SolarEdge has hinted it will take advantage of a broader, more global sales base and deeper talent pool to strengthen its focus on R&D.

SolarEdge has lauded its global strength as strong sales in Europe and Australia helped offset a decline in the US in the second quarter of the year.

In the absence of live events and exhibitions this summer, the solar PV and energy storage supply chains have adopted online and virtual events to ramp up marketing activity.

Firm will keep an eye on potential cancellations after growth in US, Australia, Germany and others helps offset hit in Italy, bringing quarterly revenues to all-time high of US$431.2 million.