Ideal Power Inc., (NASDAQ:IPWR), an innovative power conversion technology company, today announced that it has signed a master purchase agreement with NEXTracker, a Flex company and global leader in solar tracker technology. Ideal Power will supply NEXTracker with its 30 kilowatt (kW) SunDial storage-enabled multi-port photovoltaic (PV) string inverter, its 30 kW Stabilitipower conversion system, and a custom NEXTracker-exclusive 15 kW SunDial. NEXTracker will integrate the systems into its NX Fusion Plus solar-plus-storage product and deploy them to various commercial, industrial and utility sites throughout North America.
“Ideal Power’s system is compact and versatile, enabling the seamless integration of solar-plus-storage in one inverter package,” said NEXTracker CTO Alex Au. “Now, project developers and system integrators have a solution for rapid installation, scalability and maximum energy output. We’re pleased to be working with Ideal Power to drive the adoption of integrated solar and storage.”
NEXTracker’s NX Fusion Plus may include either the SunDial, Stabiliti or both, depending on the specific needs of each project, and will come fully equipped, pre-wired, pre-assembled and ready to power up with the systems in place. Ideal Power’s SunDial inverter includes full galvanic isolation and is field upgradeable anytime with a plug-and-play bidirectional direct current (DC) power port kit. The inverter also eliminates the complicated alternating current (AC) coupling that has been traditionally prominent in the industry. Ideal Power’s Stabiliti series is a grid-resilient power conversion system that brings many of the benefits of the SunDial plus grid forming capabilities for microgrid applications.
“NEXTracker’s solar-plus-storage product helps safeguard against the reduction or elimination of net metering incentives for new solar installations happening across North America, while providing a higher return on investment than solar alone,” said Ideal Power CEO Dan Brdar. “Customers should also be able to access the 30 percent federal investment tax credit available for storage installed with new solar. We are pleased to partner with NEXTracker to deliver this superior product.”
“This agreement establishes our relationship with a successful and fast growing global supplier to the solar market,” said Ideal Power Chairman Lon Bell. “Further, it allows us to focus on energy storage markets which we believe benefit from our proprietary multi-port and microgrid-capable products.”
Ideal Power will be selling product initially, before transitioning to licensing. A licensing agreement with Flex for the NX Fusion Plus is already in place.