Dynamic rate plans are gradually being introduced across Europe, with Germany set to make it mandatory for all electricity providers to offer at least one dynamic rate plan by the start of 2025
SolarEdge Technologies, Inc. ("SolarEdge") (NASDAQ: SEDG), a global leader in smart energy technology, today announced the introduction of its dynamic rate optimization capability for homeowners with a dynamic rate plan in Germany.
Dynamic rate plans are gradually being introduced across Europe in order to support the clean energy transition with grid balancing with Germany set to make it mandatory for all electricity providers to offer at least one dynamic rate plan by the start of 2025.
SolarEdge's dynamic rate optimization capability is available with a SolarEdge Home system as part of the Company's new SolarEdge ONE AI-based energy optimization system, working seamlessly with applicable SolarEdge Home inverters and batteries. Designed to maximize savings for homeowners with a dynamic rate plan, this capability is designed to autonomously optimize energy production and consumption by:
- linking to day-ahead electricity markets;
- developing a personalized 24-hour optimized energy plan for the home;
- adapting to individual energy needs using predictive AI algorithms;
- making hundreds of real-time decisions throughout the day based on weather forecasts, changing utility rates, home consumption patterns, solar production and homeowner preferences.
Based on AI predictions and real-time decisions, SolarEdge ONE diverts excess PV to prioritized home devices, takes advantage of off-peak pricing to charge a battery, or maximize feed-in revenue by discharging during peak pricing hours. The dynamic rate optimization capability will be available for most existing SolarEdge single and three phase inverters and batteries.
Alfred Karlstetter, Europe General Manager at SolarEdge Technologies, said: "Dynamic rate plans are gradually being introduced across Europe. We believe that energy management is an important enabler for homeowners in reducing their energy use during peak hours. SolarEdge ONE will enable homeowners in Germany to embrace dynamic rates while their energy consumption is autonomously optimized, using our AI-driven smart energy management capability."
About SolarEdge
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 maximise 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 and grid services solutions. SolarEdge is online at solaredge.com
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