SolarEdge Expands US Manufacturing, Boosts Jobs and Economy

• SolarEdge's U.S. manufacturing expansion in Texas and Florida creates jobs and boosts domestic content production for solar installations, supporting economic growth and tax credits.

SolarEdge has begun shipping products from its second U.S. manufacturing facility in Seminole, Florida, following the opening of the first facility in Austin, Texas in late 2023. The company has reached a quarterly manufacturing run rate of 50,000 residential Home Hub Inverters in Q2 2024 and has shipped the first 20,000 "domestic content" Power Optimizers in the same quarter. The Florida facility is expected to produce approximately 2 million domestic content Power Optimizer units per quarter when fully ramped and plans to begin commercial inverter and Power Optimizer production in early 2025.

SolarEdge's U.S. manufacturing strategy has already created around 1,500 new jobs between the two facilities in Texas and Florida, with expectations to increase to around 1,750 jobs by the end of 2024. The company also plans to produce DC-optimized inverter systems for residential and commercial applications that meet the requirements of the domestic content definition set forth by Treasury, enabling customers to access additional tax credits in solar installations. SolarEdge's commitment to 100% domestic manufacturing aligns with the Inflation Reduction Act plan and aims to provide technological expertise, job opportunities, and economic growth in the U.S. solar industry.

How is SolarEdge's U.S. manufacturing strategy boosting the solar industry?

• SolarEdge's U.S. manufacturing strategy is boosting the solar industry by creating around 1,500 new jobs between its facilities in Texas and Florida, with expectations to increase to around 1,750 jobs by the end of 2024.
  
• The company's commitment to 100% domestic manufacturing aligns with the Inflation Reduction Act plan and aims to provide technological expertise, job opportunities, and economic growth in the U.S. solar industry.
  
• SolarEdge's U.S. manufacturing facilities are producing DC-optimized inverter systems for residential and commercial applications that meet the requirements of the domestic content definition set forth by Treasury, enabling customers to access additional tax credits in solar installations.
  
• The Florida facility is expected to produce approximately 2 million domestic content Power Optimizer units per quarter when fully ramped and plans to begin commercial inverter and Power Optimizer production in early 2025.
• SolarEdge has reached a quarterly manufacturing run rate of 50,000 residential Home Hub Inverters in Q2 2024 and has shipped the first 20,000 "domestic content" Power Optimizers in the same quarter, showcasing the success of its U.S. manufacturing strategy.