SolarEdge Technologies, Inc., a global leader in smart energy solutions, has announced significant milestones to support the U.S. solar market. The company signed safe harbor agreements with Sunrun and another major residential solar financier. These agreements will see SolarEdge supplying inverters, Power Optimizers, and batteries manufactured in its U.S. facilities throughout 2025. The domestically made products, when paired with other U.S.-sourced equipment, are expected to qualify for domestic content bonus tax credits under U.S. guidelines.
These agreements enable SolarEdge’s partners to secure investment and domestic content bonus tax credits, providing better financial clarity and enhancing project economics. Additionally, SolarEdge completed its second sale of §45X Advanced Manufacturing Production Tax Credits. This transaction, facilitated through the Crux platform, involved credits generated in Q3 2024, backed by U.S.-made inverters and Power Optimizers. These products qualified for the 11 cents per watt advanced manufacturing production credit.
Bertrand Vandewiele, General Manager of SolarEdge in North America, stated “We are proud to be supporting two of the largest installers and financiers of residential solar installations in the United States with our U.S. manufactured technology, including inverters, Power Optimizers and batteries. These agreements will help our partners to secure a reliable supply of high-quality, domestically-produced equipment.”
Shuki Nir, Chief Executive Officer of SolarEdge, mentioned, “The safe harbor agreements and 45X credit sale announced today are important milestones on our recovery path. They improve visibility into our business outlook, and we believe that they will enhance our cash position, strengthen our balance sheet and further advance our priority of financial stability. I look forward to sharing further updates on our progress in the quarters ahead.”
){kind=link}