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Trump emergency order targets foreign bulk-power systems
The order could limit how foreign-made bulk-power equipment is used and serviced in the US, potentially creating a gap for domestic suppliers like SolarEdge.
Yahoo Finance reports that US President Donald Trump signed an emergency order on Aug. 26 aimed at stopping the purchase, import, and installation of foreign-made bulk-power systems and associated software.
The executive order says such systems could be used by actors seeking malicious acts against the US, including malicious cyber activity, with risks described as potentially affecting the US economy, human health and safety, and national defense.
The order also sets up the possibility of conditions for the continued use, maintenance, and servicing of foreign-made or foreign-operated bulk-power systems, which could reduce availability and leave room for companies providing alternative equipment.
Yahoo Finance adds that SolarEdge, a smart energy company with products including power optimizers, inverters, energy storage systems, EV chargers, and cloud-based monitoring, has a market capitalization of $1.98 billion, while its stock has fallen marginally over the past 52 weeks and gained 13.0% year-to-date as investors weigh the company’s recovery.