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SolarEdge Introduces Solar-Attached EV Management Solution for the Commercial and Industrial Segment

Business Wire
·3-min read

MILPITAS, Calif., June 05, 2023--(BUSINESS WIRE)--SolarEdge Technologies, Inc. ("SolarEdge" or the "Company") (NASDAQ: SEDG), a global leader in smart energy technology, today announced the launch of a solar-attached Electric Vehicle (EV) management solution for the Commercial and Industrial (C&I) segment.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230605005424/en/

EV charging management solution (credit: SolarEdge)

The new software-based solution, which further expands SolarEdge’s growing suite of C&I-focused products and software, manages and optimizes the EV charging process for sites that require dynamic load management and have large quantities of EVs, such as apartment buildings, workplaces and public charging locations. Built on advanced AI-based predictive algorithms, the solution incorporates real-time data analytics and considers solar production, dynamic electricity prices and tiered charging schedules. By integrating seamlessly with SolarEdge’s energy management system, this new offering orchestrates and optimizes interactions between facility solar generation, stationary battery storage and large-scale EV charging, taking into account grid and infrastructure limitations.

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The EV charging management solution is powered by technology developed by Wevo Energy ("Wevo"), a startup specializing in EV charging optimization and management software, in which SolarEdge is an investor.

"As more companies are taking active measures to electrify their car fleets, combining solar PV and EV charging is a cost-effective and sustainable way to manage these fleets," said Zvi Lando, CEO of SolarEdge Technologies. "We believe SolarEdge C&I PV solutions, combined with Wevo's advanced EV charging management capabilities, will help businesses use energy more economically and sustainably."

"Wevo’s solution is already deployed at thousands of parking spaces globally. The combination of Wevo’s software with SolarEdge's leading PV solution and market presence will enable the accelerated deployment of load-balanced EV charging infrastructure," said Teddy Flatau, CEO of Wevo Energy.

SolarEdge will showcase the new solar-attached C&I EV charging solution and Wevo Energy’s software at Intersolar Booth B4. 110. It will initially be launched in Germany and the UK, with plans to expand to other markets quickly.

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. Visit us at: solaredge.com

About Wevo Energy

Wevo Energy was founded in 2021 to bring simple, efficient, and cost-effective EV charging to the most energy-demanding environments. Since then, it has gained a reputation for its AI-powered, energy management capabilities and simplicity. Wevo Energy is electrifying over 5,000 parking spaces globally. This funding round will allow the company to continue its mission and bring its innovative EV charging platform to larger audiences. For more information about Wevo Energy and its EV charging platform, please visit www.wevo.energy.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230605005424/en/

Contacts

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