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SolarEdge sees European solar growth significantly in 2023,and U.S. growth slowing

SolarEdge sees European solar growth significantly in 2023,and U.S. growth slowing
SolarEdge is a inverter company that develops and markets solar inverters for photovoltaic arrays, energy generation monitoring software, battery energy storage products and other related products and services The company’s chief financial officer, Ronen Faier, said the conflict between Russia and Ukraine will fuel significant growth in the European solar market, while growth in the industry in the United States is expected to slow in 2023. The United States is suffering from a severe shortage of solar panels. The country has few solar panel manufacturers and relies on imports for more than 80% of its solar panels. Due to U.S. trade policies, a large number of solar panels cannot enter the country’s market, and import barriers have severely restricted the growth of installed solar capacity in the United States. Passage of the 《Inflation Reduction Act》 opens a new door for U.S. PV module manufacturers, and the Act helps promote more PV module manufacturers to invest in the United States. There is no doubt that the Inflation Reduction Act is economically attractive to PV manufacturers, opening the door to unprecedented opportunities for them. Ronen Faier sain that although the new Inflation Reduction Act is expected to promote the long-term development of solar energy, high prices and regulatory uncertainty will limit the expansion of solar energy in the United States. However, Faier noted that the conflict between Russia and Ukraine has led to a spike in oil and weather gas prices. Europe has decided to accelerate the transition to renewable energy. Germany and other countries are offering more lucrative incentives for developing solar energy. Some solar markets in Europe, particularly the German-speaking countries and the United Kingdom, are expected to see growth rates of more than 100% in solar installations this year, far exceeding the growth rates seen in the United States this year.