Dive Brief:
- Solar panel maker SunPower has acquired microinverter developer SolarBridge Technologies, and plans to develop a new generation of inverters to work alongside its high-efficiency solar panels. Terms of the deal were not revealed, reports GigaOm.
- Microinverters are an emerging technology that can be embedded in a single panel and can, on a small scale, optimize the energy being produced.
- Austin-based SolarBridge developed a reliable microinverter solution for roof-ready alternating current solar panels, eliminating the need to mount or assemble additional components on the roof or the side of a home.
Dive Insight:
Sunpower was mum on the terms of the deal, but GigaOm noted in its coverage that the microinverter startup has raised at least $105 million in capital so far.
"SunPower's acquisition of SolarBridge and its high performance microinverter technology will allow us to develop a differentiated product specifically optimized for our high efficiency solar panels," said Tom Werner, SunPower president and CEO. "This is the beginning of integrating electronics into our world-class solar panel technology."
Microinverters have been developed in recent years, and GigaOm named Shea Ventures, Battery Ventures, Rho Ventures, Constellation Technology Ventures, and Osage University Partners as investors in SolarBridge's technology. SolarBridge says its microinverter technology offers a design life in excess of 25 years.
The combined companies, said Werner, "will provide our residential customers with an elegant, reliable and complete solution that fits their home specifications, including system design flexibility, ease of installation and maintenance and improved overall aesthetics."