SolarEdge Launches Cutting-Edge Products as Thailand's PV Market Thrives

Thailand's PV market is experiencing significant advancement, propelled by several key factors including the push for electrification, the rise of electric vehicles, ongoing decarbonization efforts, and increasing electricity prices. This evolving landscape is driving a shift from standalone PV systems to more sophisticated integrated PV storage solutions, which address the challenge of solar energy intermittency and enable more efficient energy management.

"The market is growing and it is becoming more and more sophisticated with new segments such as the movement from PV only to storage. So we are seeing an increased demand by residential homeowners to have storage systems. We've observed a growing demand in Thailand for solar installations on grounds and ponds. To meet this market opportunity, SolarEdge launched three new products at ASEAN Sustainable Energy Week 2024, held in Bangkok, Thailand," said Einor Alter, General Manager, Southeast Asia, SolarEdge.

SolarEdge TerraMax 330kW Inverter: Designed for large-scale ground and floating solar installations while providing high production efficiency and panel-level visibility, while reducing O&M costs.

SolarEdge ONE: A cloud-based energy optimization platform for Commercial & Industry and EPC with advanced tools for efficient operations and maintenance (O&M) management.

SolarEdge Three Phase Home Solution: Catering to the growing residential solar market, SolarEdge unveils its Three Phase Home Solution. This comprehensive package includes a three-phase inverter 10kW and battery storage 48V, enabling homeowners to maximize solar energy use, optimize self-consumption, and potentially achieve energy independence.

SolarEdge's launch of these products, particularly SolarEdge ONE, reflects a significant shift in the solar industry. "The game is not hardware anymore," explained Alter. "You don't just supply an inverter, an optimizer, or a PV module. The company that can offer a comprehensive solution will be the successful technological partner. This is what we do at SolarEdge - we offer solutions."

Thailand's Solar Sector Shines Bright despite Global Economic Headwinds

"The overall solar market in Thailand is experiencing robust growth, outpacing other Southeast Asian countries. This positive trend is partly attributed to the Thai government's supportive policies, particularly their clear guidelines for solar installations and grid connections. Thailand provides a well-defined regulatory framework that streamlines the process from installation to grid integration. This clarity in policy direction facilitates market expansion and enhances investor confidence in the Thai solar sector," noted Weeruj Techasuwanna, Country Manager, SolarEdge Thailand.  

 "The policy, as I see, is divided into two main sectors, one is safety regulation, how to do it. The other one is incentivised. Both of them, the Thai government decided to take a step toward the future solution," said Alter.

On the safety side, in July 2023, Thai authorities took a significant step by adopting Rapid Shutdown regulations and issuing guidelines for safe solar system deployment, a standard that SolarEdge's systems already meet without modification. On the incentive side, the government is encouraging green energy adoption by allowing private Power Purchase Agreements (PPAs) and introducing mechanisms that make solar more attractive to consumers and businesses. These policies demonstrate Thailand's commitment to safe, sustainable energy solutions while creating a more favorable market environment for solar adoption.

Despite the current economic downturn affecting Thailand and the global economy, the outlook for the solar industry in Thailand and Southeast Asia remains surprisingly positive. While global markets like the US are facing challenges due to higher interest rates, the Thai and regional PV markets present a different picture. Solar systems continue to be viewed as strong investments, supported by financiers and driven by several factors. The increasing need for electrification across various sectors, the growing adoption of electric vehicles, and rising electricity prices are all contributing to the robust growth of the PV market in Thailand and Southeast Asia. These trends are creating substantial business opportunities in the region, making PV installations an attractive investment even in the face of broader economic concerns.

About SolarEdge

SolarEdge is a global leader in smart energy. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC-optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, , and grid services solutions. SolarEdge is online at solaredge.com