Veles is a smart converter designed to increase the water heating efficiency of photovoltaic panels that the user will be able to control through the application. By analyzing the user's use of water and heating, the converter will adjust the parameters using machine learning in order to achieve as much savings as possible, it will give advice for both monetary savings and education, and will contain the functionalities of protection against failures.

For example, it detects errors that can occur in the system in a timely manner, such as high temperature, short circuit, damaged components and the like. Users will receive notifications through the application in case of failure, and the system limits itself to minimize damage. The inverter works in such a way that photovoltaic panels mounted on the object generate a DC voltage that is supplied via wire to the converter itself. The converter then transforms the same voltage according to the algorithm into AC, using IGBT transistors. The AC voltage and waveform are adjusted in accordance with the connected heat tank to ensure greater energy savings. After the first setup, the device no longer has to connect to the Internet, but it is useful for obtaining information about the system and monitoring user trends. On each subsystem inside the converter there is a protection and sensors that can turn off individual segments.

The application that will be developed as part of the innovative concept connects to servers which contain the database and administrative control of the system. In order to access the database, the user must create their own user account. The user can optimize the operation of the system by setting their preferences when they want the water to be heated, regulate the desired temperature inside the tank, use of a network or solar power source and the like.

Unlike the classic collector water heating system, with pipes from the roof to the water tank, the system used by Veles has several advantages. It ensures easier installation and cheaper maintenance than classic collector heating systems. The same is achieved by the fact that cheaper solar panels are installed that produce electricity. To transfer the energy of the sun pipes with a working medium are no longer needed, instead wires are used. The specificity of the idea is also in the use of an electric water heater that most households already own, and the upgrade of it by adding a Veles converter. Due to the fact that the Veles converter system is regulated, overheating of liquids is prevented. Thus eliminating a number of harmful consequences.

Inverter subsystems would be produced by different manufacturers. For example, Eurocircuits services will be used for PCB and assembly. The components would be procured through Mouser. Housing and passive cooling would be produced locally. Final assembly, testing and packaging would be done in our own space.