Enphase Energy Expands IQ8 Microinverter Deployments in Washington

Rhea-AI Summary

Enphase Energy (NASDAQ: ENPH) reported a surge in installations of its Energy Systems powered by IQ8 Microinverters in Washington state. Following the product's launch, the state anticipates residential solar deployments will exceed 75 MW in 2022, marking a 63% increase year-over-year. The forecast for residential battery capacity indicates near quadrupling by 2026. The IQ8 systems offer energy security during outages and feature Sunlight Backup, enhancing resilience. Enphase aims to address energy independence and rising costs as the demand for clean energy grows.

Positive

• Increase in installations of Enphase Energy Systems powered by IQ8 Microinverters in Washington state.
• Residential solar deployments in Washington projected to exceed 75 MW in 2022, a 63% increase from the previous year.
• Predicted quadrupling of residential battery capacity in Washington by 2026.

Negative

• None.

FREMONT, Calif., June 27, 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 Washington state have seen growing deployments of Enphase Energy Systems powered by IQ8™ Microinverters following the product’s launch in North America late last year. IQ8 Microinverters paired with Enphase’s industry leading IQ™ Batteries give homeowners more energy security as power outages from extreme weather and high summertime demand grow increasingly common.

According to the most recent U.S. Solar Market Insight report from Wood Mackenzie and the Solar Energy Industries Association, residential solar deployments in Washington state are predicted to reach over 75 MW in 2022, representing an approximately 63 percent increase from the previous year. Additionally, residential battery capacity in Washington is increasing steadily year-over-year with forecasts estimating deployments will nearly quadruple by the end of 2026, according to the U.S. Energy Storage Monitor 2021 Year in Review report from the Energy Storage Association and Wood Mackenzie.

“We are on a mission to make solar and battery storage more accessible, while educating the community on the benefits of energy resilience and training the future clean energy workforce," said Edwin Wanji, founder and chief executive officer at Sphere Solar Energy, an Enphase Platinum level installer. “The IQ8-based Enphase Energy System is one of the best products on the market for homeowners to safeguard against grid outages and help control rising energy costs.”

“As a testament to the rapidly growing demand for clean, reliable power, we’re already booking installations for the 2023 calendar year,” said Markus Virta, director of sales and business development at Western Solar, an Enphase Gold level installer. “The Enphase Energy System doubles as an investment in both renewable energy and in backup power, helping homeowners become more energy independent while accelerating Washington’s goal of unlocking clean energy for the entire state.”

Enphase’s revolutionary IQ8-based systems can provide Sunlight Backup™ during an outage, even without a battery. For homeowners who want battery backup, there are no sizing restrictions on pairing an Enphase IQ Batteries 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 may result in a fully depleted battery. This eliminates the need for a manual restart of the system and gives homeowners even greater resilience. Enphase IQ8 solar microinverters come with a 25-year limited warranty.

“Solar-powered batteries offer virtually unlimited clean power to keep critical appliances going day and night, giving homeowners the ultimate peace of mind,” said Jordan Weisman, general manager at Sunbridge Solar, an Enphase Silver level installer. “Enphase’s IQ8 Microinverters and IQ Batteries make the perfect and highly customizable solution for homeowners looking to become more energy independent and future-proof their homes from rising energy costs.”

“At Artisan Electric, we offer our customers cutting edge products that provide them with the best value for decades to come,” said Evan Leonard, vice president at Artisan Electric, an Enphase Silver level installer. “Enphase has set the industry standards for quality, design, durability, and safety. From ease of installation and system performance to real-time monitoring and management, the Enphase Energy System is the turnkey home energy solution that delivers everything our customers would want, especially with the new IQ8 Microinverter technology offering a whole new paradigm for home energy.”

The IQ8 Microinverter system is the first in the world to be certified by UL, a global safety science leader, for the new North American safety and grid interconnection standards for connecting solar inverters, energy storage systems, and distributed energy resources to the grid. Enphase’s IQ8 Microinverters, paired with the IQ™ Combiner 4/4C and IQ™ Gateway, create the first complete residential DER system certified by UL.

“We are excited to work with the growing Enphase Installer Network in Washington to help bring more energy independence to homeowners across the state,” said Dave Ranhoff, chief commercial officer at Enphase Energy. “Enphase is guided by a commitment to innovation, quality, and customer-centered service as we work to unlock a more sustainable future for all with industry-leading products like IQ Microinverters and IQ Batteries.”

For more information about Enphase IQ8 Microinverters and IQ Batteries, 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 45 million microinverters, and over 2.0 million Enphase-based systems have been deployed in more than 135 countries. For more information, visit https://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, Sunlight Backup, Sunlight Jump Start, IQ Combiner, IQ Gateway, and certain other names and marks are 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 Enphase products; market demand for residential solar and battery deployments; and growth in deployments of Enphase Energy Systems. 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 recently filed Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, its Annual Report on Form 10-K for the year ended December 31, 2021 and other documents on file with the SEC from time to time, which are available on the SEC’s website at https://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 Enphase Energy's recent announcement regarding IQ8 Microinverters in Washington?

Enphase Energy announced a significant rise in deployments of its Energy Systems powered by IQ8 Microinverters in Washington state, with solar installations expected to exceed 75 MW in 2022.

How much is the increase in residential solar installations forecasted for Washington state in 2022?

Residential solar installations in Washington state are projected to increase by approximately 63% in 2022, reaching over 75 MW.

What are the key features of Enphase's IQ8 Microinverters?

Enphase's IQ8 Microinverters are designed to provide energy security with features like Sunlight Backup during power outages, enhancing homeowners' resilience.

What is the forecast for residential battery capacity in Washington state?

Residential battery capacity in Washington is expected to nearly quadruple by the end of 2026, indicating strong growth in energy storage.