SolarEdge Technologies Inc. has introduced an inverter that manages and monitors solar energy generation, consumption, and storage, according to a release.
The Israeli company says its StorEdge energy storage solution is compatible with Tesla’s home battery, the Powerwall, and has been installed in select locations and it is now internationally available.
SolarEdge says StorEdge also supports time-of-use management and serve as a source of backup power during electric outages.
Since the introduction of Powerwall last spring, companies have been popping up to compete with or complement Tesla’s home storage device.
The latest is SolarEdge Technologies of Israel, which on Jan. 12 touted its StorEdge energy storage solution, saying it is compatible with Tesla’s Powerwall. In May, SolarEdge announced its collaboration with Tesla to provide an inverter solution that would allow for grid and photovoltaic integration with the Powerwall.
“With the evolution of the solar energy market and subsidy programs, innovative solutions are increasingly necessary to create synergy between distributed solar energy and storage,” Lior Handelsman, SolarEdge’s vice president of marketing and product, said in a company statement.
The Powerwall system does not include an inverter or installation and is priced at about $3,000 for a 7 kWh system. That has apparently left an opening for competitors such as Sonnen of Germany, which in December took on Tesla, saying that it had shipped its first storage system products to the U.S.
According to press reports, the U.S. price for a 2.5 kW, 4 kWh Sonnen battery, including inverter and control software, is $9,900. Another manufacturer, Orison, is offering its 2-kWh battery with built-in demand management functions that sells for $1,600 to $2,000. An expanded to 8-kWh system can be had for $4,900.
Tesla’s strategy has also left an opening for companies hoping to ride on the coat tails of Powerwall sales, either as providers or partners. Tesla’s installation partner, SolarCity, plans to offer the Powerwall plus inverter, control systems and installation for $7,140, or for $5,000 as part of a nine-year lease.
In December, Tesla teamed up with Green Mountain Power to offer its 7 kWh Powerwall system for $6,500. Tesla and GMP aim to install 500 systems in 2016.