Enphase Energy Announces Participation in Arizona Public Service Pilot Grid Services Program

Rhea-AI Summary

Enphase Energy (NASDAQ: ENPH) has joined Arizona Public Service’s (APS) residential battery pilot program, providing financial incentives for homeowners with new IQ Batteries. Participants can earn up to $3,750 by sharing data with APS and allowing the utility to access stored energy. The program, limited to new installations, offers $500 per kilowatt of battery capacity. Enphase aims to enhance the adoption of its solar and battery systems in Arizona, supported by positive feedback from industry professionals.

Positive

• Incentives can reach up to $3,750 per home, boosting demand for Enphase IQ Batteries.
• Incentives encourage homeowners to adopt Enphase's solar systems, enhancing market presence in Arizona.
• Program supports the utility's ability to manage grid demand more efficiently.

Negative

• Existing battery owners cannot participate, limiting market benefits.

Incentive can pay up to $3,750 for qualified new IQ™ Battery 10 owners

FREMONT, Calif., Dec. 02, 2021 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, today announced its participation in Arizona Public Service’s (APS) residential battery pilot grid services program.

The program offers homeowners with Enphase IQ Batteries in APS’s service territory two ways to participate and earn money through one-time, upfront incentives. Customers who sign up for the program and simply share their data with APS, including basic information about them and their Enphase Energy System, will earn $500 per installed kilowatt of battery capacity with a cap of $2,500 per home. Alternatively, homeowners can enroll in the program, share their data with APS, and allow the utility to use the stored energy from their batteries on demand. These customers will be eligible to earn the same $500 per installed kilowatt of battery capacity (up to $2,500 per home), plus an additional one-time payment of up to $1,250, for a total maximum incentive of $3,750 per home. Program participants will be enrolled for a term of three years with both options.

APS expects to call upon enrolled batteries for additional power to meet demand up to 100 times per year. Participants must be APS residential customers and be on a Time-of-Use (TOU) service plan or a grandfathered service plan with a solar energy rate rider. The program is designed for newly interconnected batteries. Customers with existing batteries are not eligible to enroll.

“These incentives make adding an Enphase IQ battery an easy decision for homeowners that we are working with,” said John Black, founder of Black Platinum Solar. “It’s a win-win for everyone. Homeowners get a more affordable battery, and the utility company gets a better understanding of how to scale distributed energy resources in the future.”

“Batteries are now discussed in nearly all of our conversations with customers, whether for backup protection or additional savings by using stored solar energy at night,” said Ryan Saffarini, chief executive officer at PE Solar. “With this new incentive from APS, the math works out for many more homeowners to add new Enphase IQ batteries to their solar systems.”

“This valuable new program from APS will help accelerate the adoption of all-in-one energy systems,” said Dave Ranhoff, chief commercial officer at Enphase Energy. “More Arizonans than ever before will get to experience the benefits of Enphase solar and battery systems, while also helping to make the grid more reliable. We are excited to work with our installers in Arizona to encourage homeowners to sign up for these incentives.”

Enphase delivers a safer solar-plus-battery solution which does not expose installers or homeowners to high-voltage DC. The Enphase IQ Battery features Lithium Iron Phosphate (LFP) battery chemistry, which provides a long cycle life and safer operation through excellent thermal stability. Enphase batteries are equipped with Enphase Power Start™ technology, which helps seamlessly power-up air conditioners and well-pumps. Homeowners have insight into their systems through the Enphase App™, as well as the ability to go off-grid from the app. The Enphase IQ Battery offers over-the-air software upgrades and comes with a 10-year limited warranty with an optional 5-year limited warranty extension available for purchase.

Learn more about Enphase and the APS residential battery pilot program here. 

About Enphase Energy, Inc. 

Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 39 million microinverters, and over 1.7 million Enphase-based systems have been deployed in more than 130 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.

© 2021 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, IQ Battery, Power Start, Enphase App, and certain other names and marks are registered trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.

Forward Looking Statements

This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products; the market adoption of our products; the payment of incentives under third-party programs; our customer service operations; and the performance by the utility. These forward-looking statements are based on Enphase’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphase’s most recent Annual Report on Form 10-K and other documents on file with the SEC and available on the SEC’s website at www.sec.gov. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law. 

Contact:

Enphase Energy 
press@enphaseenergy.com 

FAQ

What is the incentive program by APS for Enphase IQ Batteries?

The APS program offers homeowners up to $3,750 for new IQ Batteries based on sharing data and allowing energy access.

What is the maximum incentive available for installing an Enphase battery?

Homeowners can earn a maximum incentive of $3,750 under the APS program.

Are existing battery owners eligible for the APS incentive program?

No, the program is designed exclusively for newly interconnected batteries.

How often does APS expect to utilize the enrolled batteries?

APS expects to call upon enrolled batteries up to 100 times per year.

What is the expected participation duration for homeowners in the APS program?

Participants are enrolled in the program for a term of three years.