Enphase Energy Assists SunPower Customers with Monitoring and Service Solutions

Rhea-AI Summary

Enphase Energy (NASDAQ: ENPH) announced that over 2,500 SunPower customers have switched to Enphase monitoring following SunPower's bankruptcy in August 2024. Several hundred thousand SunPower customers currently use PV Supervisor for monitoring, many with Enphase microinverters installed.

Enphase is offering multiple solutions including:

• System monitoring through the Enphase® Monitoring Kit with IQ® Gateway
• Service plans through Enphase Care
• Full system upgrades via Third-Party Upgrade Program

The Monitoring Kit includes real-time energy tracking capabilities through a mobile app, with hardware covered by a five-year warranty. While compatible with most solar inverters, the system currently doesn't support certain third-party batteries like SunPower SunVault.

Positive

• Capturing market share from bankrupt competitor with 2,500+ customer transitions
• Large potential customer base of several hundred thousand SunPower users
• Multiple revenue streams through monitoring, service plans, and system upgrades

Negative

• compatibility with certain third-party batteries like SunVault
• Requires additional hardware installation and commissioning process

Insights

Financial Analyst

Enphase's strategic move to assist SunPower customers presents a significant opportunity to expand its customer base and revenue streams. The company has already transitioned 2,500 SunPower customers since August 2024, with access to several hundred thousand more potential customers using SunPower's PV Supervisor gateway.

The financial implications are multi-layered. First, Enphase can generate immediate revenue from hardware sales of monitoring kits. Second, and more importantly, Enphase can secure recurring revenue through its annual Enphase Care service plans. Third, the company can drive higher-value conversions through its Third-Party Upgrade Program, replacing legacy equipment with newer Enphase systems.

What's particularly advantageous is that many SunPower systems already contain Enphase microinverters, creating a natural migration path with minimal customer resistance. This represents a rare opportunity to acquire customers with minimal customer acquisition costs, as these homeowners are effectively "orphaned" by SunPower's bankruptcy.

While the article doesn't quantify the potential revenue impact, even a modest conversion rate could meaningfully contribute to Enphase's top line. With Enphase's current market cap of $8.1 billion and share price around $62, this customer acquisition strategy could help stabilize revenue amid the challenging market conditions the solar sector has faced recently.

Energy Industry Expert

Enphase's initiative to support stranded SunPower customers highlights the resilience of microinverter technology in solar installations. When homeowners invest in solar, the expected 25+ year lifespan creates justified concerns when manufacturers face bankruptcy. Enphase's approach solves a critical problem for these customers while strengthening its market position.

The technical aspects are particularly noteworthy. Because many SunPower systems were built with Enphase microinverters, the transition to Enphase monitoring is relatively seamless. The IQ Gateway device can effectively communicate with existing hardware, maintaining system functionality while providing enhanced monitoring capabilities.

However, there's an important technical limitation worth noting: compatibility issues with SunPower's SunVault batteries. This indicates the complexity of energy storage integration across different manufacturers' ecosystems - a challenge throughout the solar industry.

From a competitive perspective, this move strengthens Enphase's position during industry consolidation. By demonstrating reliability when competitors falter, Enphase enhances its reputation among both consumers and installers. The company is leveraging its existing hardware presence in SunPower installations to deepen customer relationships and potentially drive full system conversions over time.

This approach underscores how distributed architecture in solar installations provides resilience against manufacturer bankruptcy - a key advantage of microinverter systems versus string inverters.

FREMONT, Calif., April 01, 2025 (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 that more than 2,500 SunPower customers have transitioned to Enphase monitoring since SunPower’s bankruptcy filing in August 2024.

Several hundred thousand SunPower customers currently use its proprietary PV Supervisor communications gateway for monitoring. Many of these systems are built with Enphase microinverters. Enphase is offering various options for these homeowners ranging from system monitoring, service plans, and even full system upgrades.

“At Enphase, we understand the uncertainty SunPower system owners are facing,” said Nitish Mathur, SVP of customer experience at Enphase Energy. “We’re fully committed to honoring warranties for our microinverters used in SunPower systems and ensuring a seamless transition to Enphase monitoring. Thousands of customers have already made the switch, and we’re moving quickly to support many more, helping them manage their systems with confidence and ease.”

The Enphase^® Monitoring Kit enables homeowners to track energy production and consumption in real time through the Enphase mobile app. The kit includes an IQ^® Gateway device along with current transformers and can be commissioned by Enphase’s field service team in coordination with our installer partners. The hardware is covered by a five-year limited warranty. While the kit works seamlessly with most solar inverters, compatibility with certain third-party batteries such as SunPower SunVault is not yet available.

Enphase is also offering SunPower customers its annual service plan solution, Enphase Care, as well as access to its Third-Party Upgrade Program to replace older string inverters and legacy SolarBridge microinverters with IQ Microinverter-based systems. For more information and resources regarding support for SunPower systems, please visit the Enphase support website.

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 approximately 80.0 million microinverters, and approximately 4.7 million Enphase-based systems have been deployed in more than 160 countries. For more information, visit https://enphase.com/.

©2025 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. in the U.S. and other countries. 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, including safety, quality, and reliability; and Enphase Energy’s expectations regarding its Third Party Upgrade Program. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties including those risks described in more detail in Enphase Energy’s most recently filed Annual Report on Form 10-K and other documents filed by Enphase Energy from time to time with the SEC. 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

This press release was published by a CLEAR® Verified individual.

FAQ

How many SunPower customers have switched to Enphase monitoring since SunPower's bankruptcy?

Over 2,500 SunPower customers have transitioned to Enphase monitoring since SunPower's bankruptcy in August 2024.

What monitoring solutions is ENPH offering to former SunPower customers?

Enphase offers system monitoring through the Enphase Monitoring Kit with IQ Gateway, Enphase Care service plans, and full system upgrades via their Third-Party Upgrade Program.

Does the Enphase Monitoring Kit work with SunPower SunVault batteries?

No, the Enphase Monitoring Kit is not yet compatible with certain third-party batteries, including SunPower SunVault.

What warranty coverage does ENPH provide for the Monitoring Kit hardware?

The Enphase Monitoring Kit hardware is covered by a five-year warranty.