By the end of 2022, over 2.78 million homes were equipped with SolarEdge PV systems; Over 31 million metric tons of greenhouse gases avoided annually through usage of its PV systems
SolarEdge Technologies, Inc. (“SolarEdge” or the “Company”) (NASDAQ: SEDG), a global leader in smart energy technology, today announced the release of its 2022 Sustainability Report, detailing the progress made in the Company’s sustainability strategy in the Environment, Society, Governance (ESG) fields and representing its commitment to accountability and transparency to stakeholders.
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SolarEdge Community Solar Installation in North America (Photo: Business Wire)
Zvi Lando, Chief Executive Officer of SolarEdge, stated: “2022 was a pivotal year for the solar industry as both energy demand and prices continued to climb, historic legislation was enacted and PV technology broadened deployment into storage and energy management. As a key player in this industry, by the end of 2022, over 2.78 million homes around the globe were equipped with SolarEdge PV systems and 50% of Fortune 100 companies have SolarEdge technology on at least one of their sites. Through this widespread usage of our solutions, we are helping support the worldwide transition to clean, distributed, and renewable power generation and consumption. In parallel, we continue to make progress on our path to enhance our corporate ESG practices and our Sustainability Report details the many ways in which we deliver on our promise to power the future of energy through our products, people and business practices.”
SolarEdge’s sustainability strategy leverages high-performance, smart energy technology to power the future of energy, aiming to deliver positive impact for people and society.
The following lists some of the Report highlights:
- 31 million metric tons CO2e are avoided annually through the usage of SolarEdge DC-optimized PV systems, equivalent to permanently removing ~6.7 million petrol cars off the roads, globally.
- 100% of our manufacturing and R&D sites are certified to ISO standards for quality, environmental and safety management.
- 88% of the waste our sites generated in 2022 was either recycled or recovered to energy.
- ISS ESG rating among top 10% of highest rated companies in the Electronic Components sector.
- Enhanced responsible procurement practices, requiring suppliers and contract manufacturers to meet environmental, social and ethical requirements. First on-site audits conducted to assure compliance.
- Progress made towards our quantitative targets of enhancing gender equality in the company’s workforce with emphasis on R&D and managerial roles.
SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, electric vehicle powertrains, and grid services solutions. SolarEdge is online at www.solaredge.com