SolarEdge announces record revenues in 2022

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From pv magazine USA

SolarEdge Technologies, an Israel-based inverter specialist, has reported record revenues of $1.29 billion for the full year to Dec. 31, 2022, with $1.2 billion coming from the solar segment. Shipments in 2022 amounted to 14 GW of inverters and 6 MWh of batteries. The company said its revenue of $4.5 billion rose 58% year over year from 2021.

Th company recently announced that its energy storage division had begun shipping battery cells for stationary energy storage applications from its Sella 2 gigafactory in South Korea. It began shipments of nickel manganese cobalt pouch cells optimised for energy storage applications in the residential, commercial and utility-scale segments.

“The global economic and geopolitical events coupled with post pandemic dynamics created an unprecedented demand for solar energy in general and our products in particular,” said Zvi Lando, chief executive officer of SolarEdge.

For the first quarter of 2023, the company expects revenues to fall within the range of $1.33 billion to $1.37 billion. It expects revenues from the solar segment to be within the range of $1.27 billion to $1.3 billion, and a gross margin from the solar segment of 31% to 34%.

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