Enphase Energy Launches IQ Batteries In Austria

Rhea-AI Summary

Enphase Energy (NASDAQ: ENPH) has begun shipping its IQ Batteries to customers in Austria, enhancing their European market presence. This move aligns with Austria's legal commitment to reach 100% renewable energy by 2030. In 2022, the country's newly installed solar capacity was estimated between 1.0 and 1.4 gigawatts, with significant growth projected in the residential battery storage market. The Enphase IQ Energy System offers modular configurations, over-the-air upgrades, and a 10-year warranty. The company's partnership with local installers aims to deliver reliable and safe energy products to homeowners.

Positive

• Expansion of IQ Batteries into the Austrian market, reflecting a commitment to renewable energy.
• Partnerships with leading solar installers in Austria strengthen market position.
• IQ Batteries come with a 10-year limited warranty, enhancing consumer confidence.

Negative

• None.

FREMONT, Calif., Feb. 21, 2023 (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 it has started shipping IQ™ Batteries to customers in Austria, further expanding the product’s availability in the European market. IQ Batteries are also currently available to customers in Belgium, Germany, and North America.

In 2021, the Austrian National Parliament established a law to move Austria to 100 percent renewable energy generation by 2030. According to a recent report by Photovoltaic Austria, newly installed solar capacity in the country doubled between 2020 and 2021. In 2022, Photovoltaic Austria estimates newly installed solar capacity was between 1.0 and 1.4 gigawatts. Additionally, Austria is listed as a top four residential battery storage market in Europe, which is expected to grow more than 400 percent by 2025, according to the European Market Outlook for Residential Battery Storage 2021-2025 analyses by SolarPower Europe.

The Enphase^® Energy System™ with IQ Batteries offers configurations ranging from 3.5kWh to an aggregate 42kWh and can be upgraded throughout the lifetime of the system. Enphase IQ Batteries accommodate over-the-air software upgrades for enhanced longevity and come with a 10-year limited warranty. Homeowners can also use the Enphase^® App to monitor performance and intelligently manage their system. This includes the self-consumption feature, which minimizes the use of electricity from the grid. In addition, Enphase offers 24/7 customer support.

“We are excited to partner with Enphase to offer our customers an innovative and reliable home energy system with IQ Batteries,” said Max Ostendorp, co-founder of HalloSonne. “IQ Batteries complement our solar solution and create a flexible and scalable energy system that can grow with our customers’ needs.”

Enphase delivers a safe solar-plus-battery solution that does not expose installers or homeowners to high-voltage direct current (DC). Enphase IQ Batteries feature Lithium Iron Phosphate (LFP) battery chemistry, which provides a long cycle life and safer operation through excellent thermal stability.

“As an installer, safety during installation and operation is of utmost importance, so IQ Batteries are a major selling point for us,” said Gerhard Bradler, CEO at Chargewell GmbH. “We’re proud to now offer one of the most flexible and reliable home energy systems to our customers in Austria.”

The Enphase IQ^® Microinverters are also available to homeowners in Austria. IQ Microinverters leverage Enphase’s unique software-defined architecture and semiconductor integration for excellent reliability and economies of scale. Enphase microinverters are subjected to a rigorous reliability and quality testing regimen with more than one million hours of cumulative power-on testing, in the aggregate, to help ensure exceptional performance under heat, high humidity, salty air, and extreme cold. The microinverters are designed to be long-lasting energy assets and are backed by a 25-year limited warranty in Austria.

“We appreciate Enphase’s commitment to high-quality products and services,” said Manfred Weissenbacher, technical director at Plus PV GmbH. “IQ Batteries paired with the complete Enphase Energy System give our customers one of the best home energy management solutions on the market." 

“We are excited to be working with some of the leading solar installers in Austria dedicated to delivering high-quality and reliable energy products to homeowners,” said Dave Ranhoff, chief commercial officer at Enphase Energy. “Enphase is committed to providing our European customers with best-in-class home energy management systems and enhanced energy security.”

For more information about Enphase in Austria, 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 approximately 58 million microinverters, and over 3.0 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.

© 2023 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, IQ, IQ Batteries, Enphase Energy System, Enphase App, 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 in Europe; growth in newly installed solar capacity in Austria; and growth of residential battery storage market in Europe. 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 Annual Report on Form 10-K for the year ended December 31, 2022 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 doing in Austria regarding IQ Batteries?

Enphase Energy has started shipping IQ Batteries to customers in Austria, expanding its market presence.

What is the significance of the 100% renewable energy law in Austria for Enphase Energy?

Austria's law mandating 100% renewable energy by 2030 presents a favorable market for Enphase Energy's solar and battery solutions.

How much solar capacity was installed in Austria in 2022?

In 2022, Austria's newly installed solar capacity was estimated between 1.0 and 1.4 gigawatts.

What warranty do Enphase IQ Batteries come with?

Enphase IQ Batteries come with a 10-year limited warranty.

What market growth is predicted for residential battery storage in Europe?

The residential battery storage market in Europe is expected to grow more than 400% by 2025.