SolarEdge Technologies, as part of its focus on its core solar activities, will cease all activities of its Energy Storage division.
The decision will result in a 500 employee reduction, most of whom are in South Korea. The expected quarterly operating expenses savings due to the closure are approximately $7.5 million with the full run rate expected to be achieved by the second half of next year.
The company intends to sell the assets related to the storage division activities, including its manufacturing facilities for battery cells and packs. This decision is not expected to impact the solar business sale of batteries for residential and C&I markets.
“The decision to close our Energy Storage division was the result of a thoughtful analysis of our portfolio of businesses and product lines, industry trends and the competitive environment,” says Ronen Faier, interim CEO of SolarEdge.
“The measures also represent continued execution of two of our main priorities: financial stability through cost reduction, return to cash flow positivity and profitability; and focus on our core business lines of solar, PV-attached storage and energy management capabilities. I wish to thank our Energy Storage division employees for all of their efforts in building this business.”
The post SolarEdge Closes Energy Storage Division appeared first on Solar Industry.
It’s not as if the United States has held the moral high ground throughout its history, with its slavery, the butchering of the Indians, Jim Crow, the support of tyrannical dictatorships around the globe, and the corrupt suppression of the working class in favor of Trump’s billionaire donors.
Yet, it was very recently that the entire nation became a force for the destruction of civil society.
There really are threats to human civilization that seem to be mounting in intensity:
• World fascism. (If it can happen in the U.S., it could conceivably happen anywhere.)
• Environmental collapse.
• Malicious use of AI.
• Pandemics, as misinformation on vaccinations spread and the frozen tundra melts, releasing pathogens never seen by humans.
• Nuclear war.
Addressing the point made at left, is there any scenario in which world governments agree to cooperate so as to stave off the end of an organized society here on Earth? One supposes so, though it sounds far-fetched in today’s world in which the leaders of most of the 200+ sovereign nations are trying so desperately to cling to power.
Obviously, James Carville has been wrong before, but it appears that he’s onto something here.
An ever-increasing number of Americans are realizing that Trump is criminally insane, and is leading this nation to destruction.
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