SolarEdge to supply technology for 500+ commercial rooftop projects

MILPITAS, Calif. - SolarEdge Technologies, Inc. (NASDAQ:SEDG), whose stock has seen an impressive 87% surge over the past six months according to InvestingPro data, has entered into a multi-year agreement with Solar Landscape to provide U.S.-manufactured solar technology for more than 500 commercial rooftop projects across multiple states, according to a press release issued Wednesday.

The projects are scheduled for construction in 2025 and 2026, focusing on large-scale commercial and industrial rooftops. The agreement aims to accelerate solar deployment in the commercial sector, which the companies describe as a largely untapped resource for distributed generation solar. This deal comes as SolarEdge maintains a solid liquidity position with a current ratio of 2.04, though InvestingPro analysis indicates the company faces near-term profitability challenges.

SolarEdge’s domestically manufactured technology will support Solar Landscape’s commercial rooftop portfolio while helping meet U.S. content requirements for solar projects.

"Generating electricity on commercial rooftops and distributing it into the grid is America’s most shovel-ready energy option," said Solar Landscape’s co-founder and CEO Shaun Keegan in the statement.

Solar Landscape, which leased 40 million square feet of commercial rooftop space in the U.S. in 2024, aims to deploy enough solar capacity to power 80,000 households. The company reports having over 80 partners that own more than 2 billion square feet of commercial real estate nationwide.

SolarEdge’s domestic manufacturing facilities have created approximately 2,000 American jobs, according to Naama Ohana, Chief Commercial & Industrial Division at SolarEdge.

The financial terms of the agreement were not disclosed in the press release. Investors watching this development should note that SolarEdge is scheduled to report its next earnings on August 7, 2025. For comprehensive analysis of SolarEdge’s financial health and growth prospects, including 11 additional exclusive ProTips, check out the detailed Pro Research Report available on InvestingPro.

In other recent news, SolarEdge Technologies has been the focus of analyst attention due to changes in tax credits affecting the solar industry. RBC raised its price target for SolarEdge to $22, anticipating positive market share implications from the termination of the 25D tax credits, which is expected to benefit the company’s third-party ownership systems. Meanwhile, JPMorgan downgraded SolarEdge from Overweight to Neutral, despite raising its price target to $23, acknowledging the company’s potential to regain market share in the lease/PPA market. Jefferies also increased its price target to $18, maintaining an Underperform rating, citing the impact of the reintroduced residential leasing under the 48E tax credit provision.

KeyBanc upgraded SolarEdge from Underweight to Sector Weight, highlighting the upcoming expiration of residential solar tax credits by the end of 2025 as a potential challenge. Analysts noted that SolarEdge holds a significant market share in TPO lease/PPA providers, which could see increased demand as the tax credits phase out. The company’s U.S. market share has reportedly stabilized, even with competition from Powerwall 3. These developments suggest that SolarEdge is navigating a complex regulatory landscape, with various analysts adjusting their outlooks in response to tax credit changes.

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