{"id":88253,"date":"2024-11-29T03:58:08","date_gmt":"2024-11-28T18:28:08","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=88253"},"modified":"2024-11-29T03:58:08","modified_gmt":"2024-11-28T18:28:08","slug":"solaredge-energy-storage-mb3062","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/solaredge-energy-storage-mb3062\/","title":{"rendered":"SolarEdge Clarifies Energy Storage Division Exit"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-88254\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/solaredge-energy-storage.jpg\" alt=\"SolarEdge battery storage\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/solaredge-energy-storage.jpg 1200w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/solaredge-energy-storage-300x158.jpg 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/solaredge-energy-storage-1024x538.jpg 1024w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/solaredge-energy-storage-768x403.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p>An announcement from SolarEdge had some scratching their heads over the future of the firm&#8217;s involvement in battery storage. Here&#8217;s what&#8217;s happening.<!--more--><\/p>\n<p>SolarEdge has announced the company will cease all activities of its Energy Storage Division to focus on its core solar activities. The decision will see approximately 500 employees lose their jobs, mostly in South Korea.<\/p>\n<blockquote><p>&#8220;The decision to close our Energy Storage division was the result of a thoughtful analysis of our portfolio of businesses and product lines, industry trends, and the competitive environment,&#8221; <a href=\"https:\/\/investors.solaredge.com\/news-releases\/news-release-details\/solaredge-announces-closure-energy-storage-division\">said<\/a> interim CEO Ronen Faier<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/solaredge-energy-storage-mb3062\/#en-88253-1' id='enref-88253-1' onclick='return hhEndnotes_show(88253)'>1<\/a><\/sup>.<\/p><\/blockquote>\n<p>It&#8217;s the company&#8217;s intention to sell assets related to the storage division, including manufacturing facilities for battery cells and packs. But there was also a somewhat vague statement in the release that wasn&#8217;t really explained further.<\/p>\n<blockquote><p>&#8220;This does not impact the solar business sale of batteries for residential and C&amp;I markets.&#8221;<\/p><\/blockquote>\n<h2>So, What Gives?<\/h2>\n<p>SQ&#8217;s Jono (who is also a <a href=\"https:\/\/www.solarquotes.com.au\/battery-storage\/reviews\/solaredge-review.html\">SolarEdge Home Battery<\/a> owner<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/solaredge-energy-storage-mb3062\/#en-88253-2' id='enref-88253-2' onclick='return hhEndnotes_show(88253)'>2<\/a><\/sup>) contacted the firm yesterday and received the following reply from Gavin Merchant, SolarEdge&#8217;s Country Manager for Australia and New Zealand:<\/p>\n<blockquote><p>&#8220;The recent announcement regarding the closure of our Energy Storage Division has no impact on our solar-connected battery business. SolarEdge continues to develop, produce, and sell both residential and commercial &amp; storage solutions.<\/p>\n<p>&nbsp;<\/p>\n<p>This decision relates exclusively to the manufacturing of lithium-ion cells and BESS solutions for <strong>utility-scale markets<\/strong>, which was the focus of the Energy Storage Division. Our commitment to delivering reliable storage solutions for residential and commercial markets remains unchanged, including both our current offerings and the development roadmap for future innovations.<\/p>\n<p>&nbsp;<\/p>\n<p>Residential and Commercial storage has been an extremely successful component of our product and service offering since 2016 (particularly in Australia) and we\u2019re looking to further develop and enhance that capability into 2025.&#8221;<\/p><\/blockquote>\n<h2>Third Quarter Results<\/h2>\n<p>In other relatively recent SolarEdge news, the firm released its financial results for the third quarter ended September 30, 2024 early this month.<\/p>\n<p>The company reported revenues of\u00a0 USD $260.9 million, which was down 2% from $265.4 million in the prior quarter and down 64% from $725.3 million in the same quarter in 2023. Revenues from its solar segment were $247.5 million, up 3% from $241.2 million in Q2 and down 63% from $676.9 million in Q3 last year.<\/p>\n<p>The firm reported 850 Megawatts (AC) of <a href=\"https:\/\/www.solarquotes.com.au\/inverters\/solaredge-review.html\">SolarEdge inverters<\/a> were shipped during Q3, and 189MWh of batteries for PV applications.<\/p>\n<p>For this quarter, revenues are expected to be within the range of $180 million to $200 million.<\/p>\n<p>This week&#8217;s announcement wasn&#8217;t the first this year signaling staff reductions. In late January SolarEdge revealed a restructuring plan that included approximately 900 employees being laid off; around or 16% of its workforce at the time. In July, then-CEO Zvi Lando said a further <a href=\"https:\/\/www.solarquotes.com.au\/blog\/solaredge-staff-layoffs-mb2967\/\">400 employees would go<\/a> (not long before he did in a way &#8211; see footnotes).<\/p>\n<h2>SolarEdge Isn&#8217;t Robinson Crusoe<\/h2>\n<p>SolarEdge isn&#8217;t alone in facing tougher times, with most manufacturers in the solar space feeling the pinch of particularly fierce competition among other issues.<\/p>\n<p>Other premium <a href=\"https:\/\/www.solarquotes.com.au\/inverters\/\">solar inverter<\/a> manufacturers such as Enphase, Fronius and SMA have also shed staff; or are preparing to do so. Earlier this month, SMA said further &#8220;optimising&#8221; of its organizational structure and processes will result in job cuts by the end of 2025 impacting up to 1,100 full-time positions worldwide. Approximately two-thirds of the positions will be in Germany.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An announcement from SolarEdge had some scratching their heads over the future of the firm&#8217;s involvement in battery storage. Here&#8217;s what&#8217;s happening.<\/p>\n","protected":false},"author":17,"featured_media":88254,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-88253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>SolarEdge Clarifies Energy Storage Division Exit<\/title>\n<meta name=\"description\" content=\"Announcement from SolarEdge had some scratching their heads over the future of its involvement in battery storage. Here&#039;s what&#039;s happening.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.solarquotes.com.au\/blog\/solaredge-energy-storage-mb3062\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SolarEdge Clarifies Energy Storage Division Exit\" \/>\n<meta property=\"og:description\" content=\"Announcement from SolarEdge had some scratching their heads over the future of its involvement in battery storage. 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The company shipped 3 million\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"SolarEdge Q3 results","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/11\/solaredge-results.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/11\/solaredge-results.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/11\/solaredge-results.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/11\/solaredge-results.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":88747,"url":"https:\/\/www.solarquotes.com.au\/blog\/solaredge-layoffs-again-mb3090\/","url_meta":{"origin":88253,"position":1},"title":"Yet Another Round Of Staff Cuts At SolarEdge","author":"Michael Bloch","date":"January 8, 2025","format":false,"excerpt":"After three rounds of layoffs announced in 2024, solar manufacturer SolarEdge will be shedding staff again - with hundreds more jobs to go. In January last year, SolarEdge announced a restructuring plan that included approximately 900 employees being laid off. In July, then-CEO Zvi Lando revealed there would be a\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"SolarEdge layoffs","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2025\/01\/solaredge-layoffs.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2025\/01\/solaredge-layoffs.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2025\/01\/solaredge-layoffs.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2025\/01\/solaredge-layoffs.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2025\/01\/solaredge-layoffs.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":25043,"url":"https:\/\/www.solarquotes.com.au\/blog\/solaredge-kokam-acquisition-mb0783\/","url_meta":{"origin":88253,"position":2},"title":"SolarEdge To Acquire Energy Storage Manufacturer","author":"Michael Bloch","date":"October 15, 2018","format":false,"excerpt":"SolarEdge Technologies, Inc. announced on Friday it had entered into agreements to acquire a major stake in South Korea based energy storage manufacturer Kokam Co., Ltd.\u00a0 If the Kokam name sounds familiar, that could be due to a high-profile large-scale energy project the company was involved with in Australia. Back\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"SolarEdge to acquire Kokam","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/10\/solaredge-kokam.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/10\/solaredge-kokam.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/10\/solaredge-kokam.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/10\/solaredge-kokam.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":13099,"url":"https:\/\/www.solarquotes.com.au\/blog\/solaredge-inverter-ev-charger-mb0121\/","url_meta":{"origin":88253,"position":3},"title":"SolarEdge Showcases Solar Inverter-Integrated EV Charger","author":"Michael Bloch","date":"July 12, 2017","format":false,"excerpt":"SolarEdge has shown off its electric vehicle charger integrated inverter at Intersolar North America early today, a product the company says is a world-first. The charger is embedded into SolarEdge\u2019s HD-Wave inverter and makes use of a \"solar boost\" mode that utilises grid electricity and solar input simultaneously to charge\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"All in one - solar inverter and EV charger","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/07\/solar-inverter-ev-charger.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/07\/solar-inverter-ev-charger.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/07\/solar-inverter-ev-charger.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/07\/solar-inverter-ev-charger.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":52622,"url":"https:\/\/www.solarquotes.com.au\/blog\/solaredge-q2-report-mb2102\/","url_meta":{"origin":88253,"position":4},"title":"SolarEdge Announces Record Revenues","author":"Michael Bloch","date":"August 4, 2021","format":false,"excerpt":"Israel-headquartered inverter and power optimiser manufacturer SolarEdge saw record revenues in both its solar and non-solar businesses in the second quarter. Founded in 2006, SolarEdge pioneered the concept of a string solar inverter matched with individual 'DC optimisers' attached to each solar panel that enable panel level monitoring, optimisation and\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"SolarEdge inverters","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/08\/solaredge-inverters.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/08\/solaredge-inverters.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/08\/solaredge-inverters.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/08\/solaredge-inverters.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/08\/solaredge-inverters.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":70275,"url":"https:\/\/www.solarquotes.com.au\/blog\/solaredge-flexible-exports-mb2801\/","url_meta":{"origin":88253,"position":5},"title":"SolarEdge Goes Native On Flexible Solar Exports","author":"Michael Bloch","date":"January 24, 2023","format":false,"excerpt":"Inverter, optimiser and battery storage manufacturer SolarEdge has claimed a first in relation to an upcoming requirement in South Australia for flexible solar exports support. Inverters capable of dynamic\/flexible solar exports can adapt to network conditions, based on instructions from a network operator. SA Power Networks (SAPN) has been tinkering\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"SolarEdge inverters flexible exports compatible","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/01\/solaredge-flexible-exports-2.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/01\/solaredge-flexible-exports-2.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/01\/solaredge-flexible-exports-2.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/01\/solaredge-flexible-exports-2.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/01\/solaredge-flexible-exports-2.png?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/88253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/comments?post=88253"}],"version-history":[{"count":3,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/88253\/revisions"}],"predecessor-version":[{"id":88257,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/88253\/revisions\/88257"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media\/88254"}],"wp:attachment":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media?parent=88253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/categories?post=88253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/tags?post=88253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}