How did SolarEdge navigate the past year?
Christian Carraro: 2025 was very challenging for the solar industry in general. We took important steps to stabilise the business and reposition it commercially, operationally and financially.
Which measures did you take to stabilise the business?
Our strategy was built on four pillars. We strengthened our financial position by focusing on core, profitable activities. We gained market share, particularly in the US, while refining our go-to-market approach in Europe. Innovation regained priority, with product simplification to support competitiveness and strong investment in new product development, including the new CSS solution for the C&I segment and our much-anticipated SolarEdge Nexis residential solution.
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How did you develop production and the supply chain?
Finally, in the past year SolarEdge has placed strong emphasis on its manufacturing processes. We shifted nearly our entire manufacturing footprint to the US, combining high-quality production with a more competitive cost structure and simplified logistics.
Private and C&I applications depend on strong installation partners. Have you introduced new programmes to support them?
A key focus was also to support our partner installers in both the residential and commercial segments by developing and delivering new products focused on their needs and by providing technical sales tools to support their business. We did this intensively across all markets. This has meant a lot to our customers and contributed to our market share. In a stagnating market, delivering top-line value is how we differentiate ourselves from other players.
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2025 was a year of dramatic change for the industry. Which trends stood out most?
Market-wise, we have seen the adoption of storage solutions growing across all regions and segments. Most notably, we are finally seeing the beginning of a real shift in France and the Netherlands. In terms of segments, C&I storage applications have shown consistent growth across the board, more strongly than ever before.
You mentioned your factories in the US. Does this mean that all your products supplied to Europe come from there?
From a SolarEdge perspective, we first built new factories in the United States. All our new products are manufactured there and delivered to Europe. We now operate three factories in the US and have already begun shipping several product families to Europe. Soon, all power optimisers and inverters for residential and commercial use will come from North America.
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That covers production. What about new products?
Last year, we rolled out our new C&I storage system. It has already seen strong adoption, as battery storage becomes increasingly central in commercial applications, much as it is in the residential market. This year, we are extending the range with a larger 197 kWh battery.
I remember SolarEdge’s early days as a provider of DC optimisers and later inverters. How has this evolved?
Over the years, SolarEdge has evolved from a PV inverter manufacturer into a full solution provider, covering solar, storage, EV charging and EMS. This shift is reflected in our new products, including the upcoming Nexis solution, an innovative MultiRange Concept inverter paired with modular storage for residential customers. The MultiRange concept will be rolled out across most existing inverters, and all new solutions continue to incorporate robust safety and cybersecurity features. This remains a key consideration for customers, and rightly so.
Which markets are currently most important for SolarEdge?
In the US, Wood Mackenzie recently reported that as of Q3 2025, we are the market leader in both residential and C&I inverters. In the EU, we have also strengthened our position, and the European market continues to offer significant potential.
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Which European markets performed particularly well?
Some markets are recovering faster than others, depending on the individual market environment. The DACH countries have remained very strong in the solar-plus-storage segment, particularly Germany. In Germany, Italy, the Netherlands and the UK, concerns around grid stability are increasing the focus on energy storage. For this and other reasons, momentum has been particularly strong in Italy and the UK, where the new government has further encouraged PV and storage adoption.
And where did you encounter the most serious problems?
I prefer to call them challenges, because they are problems that can be overcome and are better understood as opportunities. In the Netherlands, we are seeing the end of net metering. This was expected and initially led to a decline in new PV installations. However, it accelerated the shift towards a more mature market and drove the adoption of energy storage, creating a significant upsell opportunity for installers. The change found us well prepared with our product portfolio, and already last year we saw retrofit storage solutions increase sharply.
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And what about France, as you mentioned earlier?
In France, the market was hampered by the political situation and sudden changes to the subsidies scheme in January 2025, the effects of which we already saw last year, especially in the residential segment where the market dropped due to legislation uncertainty. The positive note for 2026 is that all is clear, and the residential market is expected to switch to self-consumption, therefore boosting homeowner demand for higher value solutions including storage.
And in the east, let us say, in Poland?
In Poland, we expect a new subsidy in the near future to support the residential market following recent upheaval, and the industry is optimistic about its impact. SolarEdge solutions remain strong in the C&I segment, and we have many new C&I projects in our pipeline, which we welcome.
What is your outlook for 2026?
As things stand, the era of PV-only installations is over. However, there are strong reasons to be optimistic. Storage systems are now driving the solar market. Synchronized and efficient smart energy solutions, built around customer-centric technology, are key to success. C&I storage solutions are expected to expand across Europe, creating a significant market opportunity. In addition, the modernisation of older PV installations and the need for reliable electricity supply during blackouts will support further storage deployment and new distributed solar generation.
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Do you expect prices to rise?
Not necessarily – prices have come down a lot in recent years. Of course, we adapt to market circumstances, but as a company SolarEdge is focused on delivering the best value to the end customer through premium, leading-edge products at competitive prices.
Do you also see some breathing space?
Our new production facilities in the US give us greater flexibility and a more efficient cost structure, allowing us to compete more effectively without necessarily sacrificing margins. Combined with our strong product portfolio and market opportunities, this positions us well for growth, and there is clear room to expand.
Interview by Heiko Schwarzburger
Christian Carraro serves as Vice President Europe Strategic Accounts and Programs at SolarEdge, which he joined in 2016. He brings more than 17 years of experience in the solar industry, spanning the entire value chain, including solar cell manufacturing, EPC businesses and distribution channels. He has extensive experience in business development and organisational start-ups. Prior to SolarEdge, he was EMEA General Manager at Tigo Energy. He holds a degree in electrical engineering from the University of Genoa, Italy.
