Smart energy management company SolarEdge is acquiring Hark Systems, a vendor of industrial Internet of Things technology and energy analytics to improve energy efficiency, reduce waste, and maximize power generation while lowering costs.
"Hark's cloud and edge technology securely streams data from entire estates at an asset-specific level and analyses that data in real time, providing actionable information for Energy Managers and Asset Operators," the press release from SolarEdge mentioned.
Cloud and edge technology means a combination of centralized systems that run software on behalf of customers as well as computing present in local devices that can perform processing tasks without everything needed to travel over networks to and from the cloud system.
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SolarEdge specializes in systems that control photovoltaic solar panels. Some of the capabilities it claims are the ability to optimize each panel for more efficient generation, reduce effects of partial shading, avoid power module clipping that happens when panels generate more electricity than an inverter can handle, and monitor power operations of each panel though an app. The company also produces products for PV storage, EV charging, batteries, electric vehicle powertrains, and grid services solutions.
While SolarEdge does have one focus on consumer home products, it also has participated in projects including rooftop solar for industrial, commercial, and public buildings as well as installations in agriculture and floating systems.
Hark Systems' products and knowledge is a logical fit for the commercial aspect.
"The Hark Platform's intuitive user interface, asset connectivity technology, automations and custom dashboards enable rapid solution deployment for Energy Management, Asset Health Management, and Industrial Maintenance," the release also mentioned.
Hark's capabilities include providing ongoing data that can help inform such practices as preventative maintenance, regulatory compliance, asset control, and energy management.
Data comes in from sensors and gateways that gather and deliver data from data. There are tools to note anomalies that indicate a need for maintenance, monitor energy consumption, and use various alerts and automation to reduce energy waste.
The acquisition provides an entire major aspect of energy use and management that is complementary and not duplicative of what SolarEdge does. It's the difference between monitoring and controlling the generation of solar power and controlling the use of power, regardless of the way it is generated, by a wide array of companies. The deal should allow SolarEdge to both expand the services it can offer its current solar customers and to move into even larger markets that need energy management but don't necessarily yet have solar generation capability.
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