Connect with us

Hi, what are you looking for?


Clean Power

Strong Quarter For SolarEdge Despite US Slowdown

solaredge productsIsrael-based solar PV inverter manufacturer SolarEdge has reported strong quarterly results, citing record revenues and 51% annual growth, despite a general slowdown in the US residential market hampering already strong figures.

SolarEdge published its fourth quarter 2016 and full-year (year ended June 30) 2016 financial results last week, to a generally approving market. The company boasted of “record revenues” of $124.8 million for the fourth quarter, and $489.8 million for the fiscal year 2016 — though its fourth quarter revenue was on the lower end of its own guidance.

The company reported GAAP gross margin for Q4’16 of 31.4%, and 31.0% for the full fiscal year 2016, while GAAP net income was $17.3 million and $76.6 million respectively.

“Our fiscal 2016 results demonstrate consistent and strong execution with record revenues and 51% annual growth. We maintain our profitability and continue to generate cash flow from our operations, quarter over quarter,” said Guy Sella, Founder, Chairman and CEO of SolarEdge. “While this quarter is characterized by a general slowdown in the residential US market, we were able to compensate with increased sales in other geographic regions in which we sell. We remain on target with our plans to grow our business and increase market share without sacrificing gross margins and profitability.”

The slowdown in the US residential market is being seen across the spectrum of solar PV growth of late. The surprise extension of the federal Investment Tax Credit (ITC) for the solar industry in December put a halt to the mad developer-rush to complete projects immediately, which has resulted in the United States’ utility-scale solar pipeline stretching out to an impressive 10 GW — though that is 10 GW that will not necessarily need to be completed this year, with most experts believing some of this will slip into 2017.

Looking forward to SolarEdge’s first quarter (July through September), the company expects revenues to be in the range of $130 million to $139 million, with gross margins in the range of 30% to 32%.

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Former Tesla Battery Expert Leading Lyten Into New Lithium-Sulfur Battery Era — Podcast:

I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps — gasp — grow. So ...
If you like what we do and want to support us, please chip in a bit monthly via PayPal or Patreon to help our team do what we do! Thank you!
Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (, and can be found writing articles for a variety of other sites. Check me out at for more.


You May Also Like


Solar energy is critical to almost all forms of farming. As we learn as kids, sunshine is a critical ingredient to plant growth. But...


SolarEdge has launched its first “battery virtual power plant” in support of the UK’s national grid. More specifically, it is providing grid support through...

Clean Power

Several new commercial developments in Romania will feature rooftop solar systems from TESLA 50Hz and SolarEdge.

Clean Power

Trade shows are often dull, with lots of technical detail at booths. And…that’s necessary, of course, but it’s always so nice to see tech-y...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.