A $23 million funding round to support SolarEdge's development of residential and large-scale photovoltaic sites has been made by GE Energy Financial Services.

GE Energy Financial Services is investing in Israel for the first time, and this announcement was made at the GE Global Research, during a media forum on clean tech venture capital investing, at the GE's research and technology development center in Niskayuna, New York.

The energy output and cost efficiency of solar PV units is maximized with SolarEdge's holistic power harvesting and monitoring technology. BP Solar, Schott Solar, Isofoton, HaWi Energitechnik, Gehrlicher solar are among some of the companies that the company has been working with to embed their technology into solar panels, increasing their power output by 25% and providing superior monitoring and control, without an increase in cost.

Alex Urquhart, President and CEO of GE Energy Financial Services, said at the GE venture capital media forum, "Our investment in SolarEdge reflects our confidence in the company's ability to thrive in the growing global solar industry. SolarEdge is a smart company, with smart technology that fits well with GE's ecomagination program to help customers meet their environmental challenges. We view this investment as the beginning of a broader collaboration between GE and SolarEdge that could include joint product development and distribution."