Enphase Energy Expands Battery Storage in Iowa

Rhea-AI Summary

Enphase Energy, Inc. (NASDAQ: ENPH) announced increased deployments of its Energy System powered by IQ Microinverters and IQ Batteries in Iowa. The U.S. Energy Storage Monitor estimates a ten-fold growth in residential battery capacity by 2026. Installers praise Enphase's durable products, such as the new IQ8 Microinverters, which offer Sunlight Backup during outages. Enphase's IQ Batteries utilize Lithium Iron Phosphate technology, ensuring safety and longevity. Homeowners benefit from enhanced energy resilience and management, with a growing demand for backup power sources due to grid outages.

Positive

• Year-over-year deployment growth of Enphase Energy Systems in Iowa.
• Expected ten-fold increase in residential battery capacity by 2026.
• Launch of IQ8 Microinverters allowing for Sunlight Backup during outages.
• Use of Lithium Iron Phosphate technology in IQ Batteries for enhanced safety and cycle life.
• Homeowners gain better energy management and resilience.

Negative

• None.

FREMONT, Calif., April 14, 2022 (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, announced today that installers of Enphase^® products in Iowa have seen growing deployments of the Enphase Energy System powered by IQ™ Microinverters and IQ™ Batteries.

Residential battery capacity in Iowa is growing year-over-year with forecasts estimating deployments will multiply ten-fold by 2026, according to the most recent U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie.

“Our customers are looking for a durable and reliable source of clean energy,” said Ethan Holtman, operations manager at Shinnova Solar, an Enphase Gold level installer. “Enphase’s IQ Microinverters and IQ Batteries are designed to perform and last, making them the easy choice to satisfy each customer’s unique needs, whether it’s solar only or with a battery for ultimate control and independence.”

Iowa homeowners can now also choose to install Enphase’s revolutionary IQ8™ Microinverters. IQ8-based systems can provide Sunlight Backup during an outage, even without a battery. For homeowners who want a battery backup, there are no sizing restrictions on pairing an Enphase IQ Battery with IQ8 microinverters. In addition, with the Sunlight Jump Start™ feature, IQ8 Microinverters can restart a home energy system using sunlight only after prolonged grid outages that result in a fully depleted battery. This eliminates the need for a manual restart of the system and gives homeowners even greater resilience.

“Our customers are looking for solutions that give them peace of mind and control over their home energy,” said Travis Eichelberger, president at Moxie Solar, an Enphase Silver level installer. “The new Enphase IQ8 Microinverters will give homeowners backup power from the sun, with or without a battery, when they need it most.”

"There are many reasons to like the Enphase product line," said Joel Teslow, owner of Decora Electric Inc., an Enphase Silver level installer. "The microinverters offer a long lifespan, flexibility in system design, and no single point of system failure to name a few. The Enphase Energy System with IQ Batteries does not deviate from these positive attributes. The system allows for an energy storage system to be designed very incrementally to meet the customer's needs. The IQ System Controller works with the system seamlessly, gathering your energy inputs into one place and distributing them to your loads as you see fit. The IQ Battery utilizes multiple microinverters to access its stored energy, giving our customers peace of mind knowing they can depend on this system to give them energy when they need it most."

Enphase delivers a safer solar-plus-battery solution which does not expose installers or homeowners to high-voltage DC. Enphase IQ Batteries feature Lithium Iron Phosphate (LFP) battery chemistry, which provides a long cycle life and safer operation through excellent thermal stability. The batteries are equipped with Enphase Power Start™ technology, which helps seamlessly power-up air conditioners and well-pumps. The Enphase IQ Batteries accommodate over-the-air software upgrades and come with a 10-year limited warranty, while Enphase IQ8 solar microinverters come with a 25-year limited warranty.

“In Iowa, more homeowners than ever are investing in a backup power source to stay more secure and comfortable during grid outages,” said Dave Ranhoff, chief commercial officer at Enphase Energy. “With IQ8 Microinverters and the IQ Batteries, homeowners get the reliable energy resilience they are looking for, plus they can better manage their energy bills and reduce their carbon footprint.”

For more information about Enphase IQ Batteries and IQ8 Microinverters, please visit the Enphase 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 more than 42 million microinverters, and approximately 1.9 million Enphase-based systems have been deployed in more than 130 countries. For more information, visit www.enphase.com and follow the company on Facebook, LinkedIn, and Twitter.

© 2022 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, IQ, IQ8, Power Start, Sunlight Jump Start, 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, including safety, quality and reliability; the availability and market adoption of our products; market growth; market demand; increased deployments; and the performance by our installation partners. 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 did Enphase Energy announce on April 14, 2022?

Enphase Energy announced increased deployments of its Energy System powered by IQ Microinverters and IQ Batteries in Iowa.

What is the forecast for residential battery capacity in Iowa according to the U.S. Energy Storage Monitor?

The forecast estimates a ten-fold increase in residential battery capacity in Iowa by 2026.

What features do the new IQ8 Microinverters from Enphase offer?

The IQ8 Microinverters offer Sunlight Backup during outages and can restart energy systems using sunlight after prolonged outages.

What technology is used in Enphase IQ Batteries?

Enphase IQ Batteries use Lithium Iron Phosphate (LFP) technology, which offers high safety and a longer cycle life.

How does Enphase Energy's solutions benefit homeowners?

Homeowners benefit from enhanced energy resilience and the ability to better manage their energy bills.