SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy, was awarded the 2018 Stratus Award in Cloud Computing for its grid services and virtual power plant solution by The Business Intelligence Group. The Stratus Awards recognize companies and individuals innovating in the cloud and providing technologies that are truly disruptive.
Supporting a new model of energy generation, SolarEdge’s grid services offer aggregative control and data reporting, enabling the pooling of PV and storage in the cloud for the creation of virtual power plants. Offering benefits to all stakeholders, the solution provides utilities with the tools to leverage distributed energy generation systems to more efficiently meet demand. Energy retailers enjoy protection from price peaks and PV system owners can increase their revenue from joining this new shared energy economy.
“With its cloud-based virtual power plant, SolarEdge is clearly an industry disruptor and is a visionary in its approach to changing the way energy is managed,” said Maria Jimenez, Chief Nominations Officer of Business Intelligence Group. “Just like electricity, the cloud is now part of all of our daily lives and the staff and volunteer judges are pleased to shed light on these innovative services and organizations.”
“With the recent launch of our grid services, SolarEdge envisioned leading the transition to a more stable and cost-effective grid in which people have more control over their energy,” stated Lior Handelsman, VP of Marketing and Product Strategy, Founder of SolarEdge. “With a number of SolarEdge’s virtual power plants already deployed, we are honored to be selected as a 2018 Stratus Award winner in cloud computing, which recognizes companies leading the cloud revolution.”