Enphase Energy, Inc. - ENPH STOCK NEWS

Enphase Energy has announced the initial shipments of IQ Battery 5Ps manufactured in the United States, eligible for the Domestic Content Bonus Credit under the Inflation Reduction Act (IRA). This tax credit is available to commercial asset owners and PPA/lease providers who own residential solar and battery projects. The company has also begun shipping IQ8HC Microinverters from U.S. facilities with higher domestic content, marked with a 'DOM' suffix. Projects using these U.S.-made Enphase products, along with some additional U.S.-made solar racking equipment, could qualify for the tax credits.

Enphase Energy has announced a safe harbor agreement with IGS Solar to expand deployments of IQ8 Microinverters manufactured in the United States. The agreement enables IGS Solar-financed leases to qualify for the domestic content bonus tax credit under the Inflation Reduction Act when using IQ8HC Microinverters with 'DOM' suffix SKUs. Leading solar installers including Venture Solar, Momentum Solar, and Ecohouse Solar will install these U.S.-made microinverters on IGS Solar owned projects. The safe harbor mechanism allows IGS Solar to freeze domestic content requirements year-over-year, providing installation partners time to develop domestic content equipment strategies while maintaining economics.

Enphase Energy has launched a new AI-powered DIY permit plan feature for its Solargraf platform, reducing solar permit plan creation time by up to 95%. The feature automates the complex solar and battery permitting process, enabling installers to create complete permit plans in under 10 minutes. Key capabilities include automated proposal-to-permit conversion, advanced electrical design with NEC compliance, and access to data from over 16,000 AHJs and 245 utility providers. The platform has already generated more than 300 permit plans across 50+ AHJs, streamlining the solar installation process and improving operational efficiency.

Enphase Energy has launched its most advanced energy system in Romania, featuring the new IQ Battery 5P and IQ8 Microinverters. The system offers configurations from 5 to 60 kWh and includes improved wired communication and commissioning. The IQ8 Microinverters can handle up to 560W DC modules with 14 amperes continuous DC current. Three new microinverter models (IQ8MC, IQ8AC, and IQ8HC) offer peak outputs of 330W, 366W, and 384W respectively. The products come with a 15-year warranty and 24/7 customer support, allowing homeowners to monitor performance through the Enphase App.

Enphase Energy (ENPH) reported Q3 2024 financial results with revenue of $380.9 million, up from $303.5 million in Q2 2024. The company shipped 1,731,768 microinverters (730.0 megawatts DC) and 172.9 megawatt hours of IQ® Batteries. Key highlights include:

- Non-GAAP gross margin of 48.1% with net IRA benefit
- GAAP net income of $45.8 million; non-GAAP net income of $88.4 million
- GAAP diluted EPS of $0.33; non-GAAP diluted EPS of $0.65
- Free cash flow of $161.6 million

U.S. revenue increased 43% quarter-over-quarter, while European revenue decreased 15%. The company ended Q3 with $1.77 billion in cash and marketable securities. For Q4 2024, Enphase expects revenue between $360.0-$400.0 million and non-GAAP gross margin of 49.0-52.0% with net IRA benefit.

Enphase Energy (NASDAQ: ENPH) has expanded its IQ8™ Microinverter offerings to new markets. The company has launched IQ8X Microinverters in the Netherlands and Austria, designed to support high-powered solar panels up to 560 W DC. Additionally, Enphase has entered the solar markets in Malta and New Caledonia for the first time, introducing various IQ8 Microinverter models.

In Malta, Enphase introduced three microinverters: IQ8MC™, IQ8AC™, and IQ8HC™, with peak output powers of 330 W, 366 W, and 384 W, respectively. New Caledonia received the IQ8AC and IQ8HC models. These microinverters come with a 25-year warranty and are compatible with solar modules up to 560 W DC.

Installers in these regions have praised the IQ8 Microinverters for their reliability, performance, and ease of installation. The expansion reinforces Enphase's commitment to driving innovation in diverse markets worldwide.

Enphase Energy (NASDAQ: ENPH) has expanded its support for grid services programs in New Hampshire, North Carolina, and California, powered by the new IQ® Battery 5P. These programs, also known as virtual power plants (VPPs), use energy stored in home batteries to help power communities during peak electricity demand, reducing reliance on costly and polluting power plants.

Homeowners with Enphase IQ Batteries can now enroll in the following programs:

• Duke Energy PowerPair Program: Offers up to $9,000 upfront incentive for installing three IQ Battery 5Ps and 10 kW of solar
• San Diego Community Power Solar Battery Savings Program: Provides $3,150 upfront rebate for two IQ Battery 5Ps, plus ongoing payments
• Eversource New Hampshire Clean Energy Fund (NHCEF) for Battery Storage Program: Offers $3,000 rebate for residential and $3,750 for commercial customers installing three IQ Battery 5Ps

These programs aim to make Enphase's technology more accessible while contributing to a more sustainable and resilient grid.

Enphase Energy (NASDAQ: ENPH), a global energy technology company and leading supplier of microinverter-based solar and battery systems, has announced a conference call and webcast to discuss its third quarter 2024 financial results. The event is scheduled for Tuesday, Oct. 22, 2024 at 4:30 p.m. Eastern Time.

The live webcast will be accessible on the Enphase Energy Investor Relations website at investor.enphase.com. A recorded version will be available approximately one hour after the call. For those wishing to join the live call, the U.S. number is 833.634.5018, and the international number is +1.412.902.4214. Replay options are also provided for U.S., international, and Canadian callers, with a replay access code of 2677879.

Enphase Energy (NASDAQ: ENPH) has announced the launch of its IQ8X™ Microinverters in Australia, designed to support higher-powered solar modules up to 505 W DC. These microinverters feature a peak output AC power of 384 W and can support modules with higher cell counts, including 96-cells and 88 or 80 half-cut cells.

Additionally, Enphase has extended the warranty on all IQ8 Microinverters activated from Oct. 1, 2024, in Australia to an industry-leading 25-year warranty. This represents the longest standard residential warranty available in the Australian market, demonstrating Enphase's commitment to product quality and customer satisfaction.