On July 9, Sunrun, the largest residential solar company in the US., and SolarEdge, a worldwide leader in photovoltaic inverters, power optimizers and module-level monitoring services, agreed to form a strategic supply partnership, according to an official press release.
SolarEdge will now be Sunrun's favored choice for these PV parts and equipment for residential home solar installations. The two plan to optimize their partnership to give residents more options with home solar installations.
Chief Operating Officer for Sunrun Paul Winnowski believes the relationship will help deliver better solar power systems and equipment to residents.
"Sunrun has focused on integrating innovative technologies into our business so we continue to deliver the best experience to new and existing customers," Winnowski said. "We're excited to partner with SolarEdge to ensure Sunrun customers have high quality home solar systems resulting in increased energy production and lower electricity costs."
According to Insider Trading Report, SolarEdge has witnessed a decline in stock shares, but the new agreement could add more value to the company and make it a "strong buy."
The technology used by the two companies allows residents to troubleshoot any problems remotely and access real-time performance data through a cloud based monitoring system from SolarEdge.
"As one of the largest inverter companies supplying the U.S. residential market, we're pleased that our optimized products are part of the Sunrun family product offering," SolarEdge's North America Manager Peter Mathews, said. "We are proud to align ourselves with a respected organization like Sunrun and look forward to working together to elevate the solar experience for more consumers nationwide."
Both the companies aspire to bring more solar power technology to the residential market.