SolarEdge, whose technology increases solar power systems’ output by up to 25 percent, announced today that GE unit GE Energy Financial Services has joined a US$23 million funding round to support growth in residential and large-scale photovoltaic sites. SolarEdge’s other investors are US venture capital leaders Opus Capital and Walden International, the Israeli funds Genesis Partners and Vertex Venture Capital, and the Singaporean fund JP Capital Asia.

“This investment from GE in SolarEdge confirms one of the trends we described in our PV inverters report: Decentralization of monitoring and controls enables the entire PV plant to run at higher performances without modifying the solar cell technonology", said Brice Le Gouic, Technical Market Analyst of Yole Développement. "This type of device is projected to have a big impact on tomorrow's PV electricity production.”, Le Gouic added.

SolarEdge provides holistic photovoltaic power harvesting and monitoring technology to maximize the energy output and cost efficiency of solar PV units. The company works with industry-leading partners such as BP Solar and Schott Solar, Isofoton, HaWi Energitechnik, Gehrlicher solar and many others to embed its technology into photovoltaic panels to increase their power output by up to 25 percent and provide superior monitoring and control, without increasing costs. GE Global Research provided a technical, hands-on perspective to GE Energy Financial Services as it considered this investment.

SolarEdge is a provider of smart, holistic PV power harvesting and monitoring solutions for maximum energy at a lower cost per watt. The company works with industry-leading partners to embed its active electronic solution directly into PV panels. Unlike centralized architectures that cannot optimize the power of each panel, only SolarEdge performs MPPT per panel while communicating across existing power lines for granular visibility and control.