SolarEdge Technologies (SEDG) Announces First Section 45X Credit Sale

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Go back to SolarEdge Technologies (SEDG) Announces First Section 45X Credit Sale

SolarEdge Announces First Section 45X Credit Sale

November 5, 2024 7:00 AM EST

MILPITAS, Calif.--(BUSINESS WIRE)-- SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in smart energy technology, today announced it closed its first transaction for the sale of §45X Advanced Manufacturing Production Tax Credits in consideration for approximately $40 million, net of discounts and fees. The Credits were generated by sales of eligible, U.S. made, inverters in the first half of 2024.

Ronen Faier, Interim Chief Executive Officer of SolarEdge, said: The Inflation Reduction Act and new §45X of the U.S. Internal Revenue Code have made it possible to bring high value... More