Connect with us

Hi, what are you looking for?

Image Credit: SolarEdge

Clean Power

SolarEdge Continues Record Growth On Back Of Strong European Demand

Israeli smart energy technology company SolarEdge published its first quarter 2019 earnings earlier this month and again showed record growth for the quarter thanks to strong demand in Europe.

Israeli smart energy technology company SolarEdge published its first quarter 2019 earnings earlier this month and again showed record growth for the quarter thanks to strong demand in Europe.

Image Credit: SolarEdge

SolarEdge has been growing from strength to strength over the last few years, repeatedly reporting record quarters with ever-increasing revenues. For the first quarter of 2019, SolarEdge again reported record revenues of $271.9 million, including record revenues from solar products of $253.1 million.

The company shipped a total of 1.1 gigawatts (GW) of solar inverters and walked away with net (non-GAAP) earnings per share of $0.64 and net income of $32.9 million for the quarter, up 5% from the previous quarter but down 23% from the $42.5 million taken during the first quarter of 2018.

SolarEdge, which has been diversifying its brand in the last few quarters to include new products such as EV charging and energy storage options, was bolstered by strong demand in Europe.

“We opened 2019 with a strong quarter and record revenues driven by substantial growth, particularly in Europe, which demonstrates our leading position in the global solar inverter market,” said Guy Sella, Founder, Chairman and CEO of SolarEdge. “This quarter we concluded the acquisition of SMRE which provides us with an entry into the e-mobility market and we continued the integration of Kokam and the building of our UPS business. We are very happy to be able to continue to grow our solar business while leveraging profits for further investment in our new areas of technology development, which include UPS products, lithium-ion batteries and integrated powertrain electronics for electric vehicles.”

“Continued expansion in international solar-product sales, particularly in Europe and Australia, is enabling faster top-line growth at SolarEdge than previously anticipated by the market,” explained James Evans of Bloomberg Intelligence, who provided his analysis upon request.

“A strengthening of solar energy gross margin is underway, from a 4Q low, which should enable further profitability gains in 2Q. The potential for higher U.S. tariffs on Chinese imports could impede profitability gains, yet SolarEdge is ramping up new supply from Vietnamese plants that could help offset this toward year-end. Non-solar growth is anticipated to be relatively flat in coming quarters, with potential for growth in 2020.

“SolarEdge’s 2Q sales emerged above prior consensus, with a 2Q guidance range of $310-$320 million significantly above the $279 million previously assumed by the market.” – Evans

Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

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


SolarEdge Technologies has announced that it has been chosen to supply the full electric powertrain units and batteries for the production of Fiat’s E-Ducato...


Kokam Co., Ltd, a subsidiary of SolarEdge and a provider of lithium-ion batteries and integrated energy solutions, announced today the launch of a new advanced and...


The innovative clean tech kids at SolarEdge launched a new inverter optimized for integration of solar and energy storage. The new Energy Hub Inverter...

Clean Transport

SolarEdge was a late entrant to the world of electric vehicle chargers, but after spending some time with the SolarEdge Smart EV Charger, the...

Copyright © 2021 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.