Enphase Energy Selected by Green Mountain Power for Home Battery Grid Services Program

Rhea-AI Summary

Enphase Energy (NASDAQ: ENPH) has announced a partnership with Green Mountain Power to offer Enphase Energy Systems through a battery lease grid services pilot in Vermont. The program allows homeowners to lease two Enphase IQ Battery 10 units for $65/month or pay $6,500 upfront, benefiting from reliable backup power and reduced energy costs. Participants in the 'Bring Your Own Device' program can receive an upfront payment up to $9,500. Additionally, the launch of the Grid Services Manager will help manage virtual power plants. The IQ Batteries feature advanced technology and come with a 10-year warranty.

Positive

• Partnership with Green Mountain Power expands customer reach in Vermont.
• Battery lease program allows homeowners affordable access to energy storage.
• Participants can earn up to $9,500, enhancing customer incentives.
• Introduction of Grid Services Manager to manage virtual power plants.
• IQ Batteries equipped with innovative technology offering 10-year warranty.

Negative

• None.

FREMONT, Calif., March 28, 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, today announced that Vermont-based utility Green Mountain Power (GMP) will offer Enphase^® Energy Systems to its customers in a cutting-edge battery lease grid services pilot program. Homeowners can also enroll in GMP’s “Bring Your Own Device” (BYOD) grid services program, which enables customers with their own Enphase Energy Systems to participate and earn an up-front incentive.

The lease program will provide 100 eligible customers with two Enphase IQ Battery 10 units for $65 per month for ten years, or for a single payment of $6,500. That cost does not include installation. Homeowners benefit from reliable backup power, while also sharing stored energy during times of high demand to help reduce overall costs for all GMP customers.

Alternatively, homeowners can buy a new Enphase Energy System or enroll their existing system in GMP’s BYOD program, which doesn’t have a limit to the number of participants and enables them to earn money with their Enphase IQ Batteries through a one-time, upfront incentive. Eligible customers can sign up and monitor participation in the Enphase^® App and will receive an upfront payment of up to $9,500 with four Enphase IQ Battery 10s. If homeowners are retrofitting an existing solar system in one of the areas of the state where battery power is needed most, they may be eligible to receive an extra $100 per kilowatt. Program participants will be enrolled for a term of a minimum of ten years.

Enphase is also launching its Grid Services Manager, a distributed energy resource management system (DERMS) that GMP will use to manage virtual power plants with Enphase Energy Systems. Enphase expects to offer this software product for utility grid managers and distributed energy resource aggregators in the future.

“We are excited to offer customers another option for storage, as we create a stronger and more resilient energy system,” said Josh Castonguay, VP of innovation and engineering at Green Mountain Power. “Our storage programs are leading the way, helping to cut carbon and costs for all of our customers. This pilot expands on our innovative work, allowing for more customers to access storage technology.”

Vermont homeowners can now also choose to install Enphase’s revolutionary IQ8™ solar microinverters. IQ8 eliminates sizing restrictions on pairing an Enphase IQ Battery with the IQ8 solar system. This allows homeowners flexibility to start small by backing up essential loads only and then grow their home battery systems over time to better meet their needs.

"This new battery backup leasing program makes getting an Enphase Energy System with its exceptional IQ Batteries an even easier decision for Vermont homeowners,” said Liam Madden, director of solar energy at HB Energy Solutions. “With the new IQ8 ​microinverters, our customers will be able to easily expand their home battery system over time, giving them even more peace of mind about their energy future. This partnership allows the homeowners, local contractors, and utilities to use Enphase's state of the art technology to help create a more reliable, affordable, and cleaner grid for all of Vermont.”  

"We rely on Enphase IQ microinverters for most of our rooftop solar customers. Bringing the same integrated communications platform with detailed energy monitoring and solar production information for each solar panel, and now for energy storage, is very exciting," said Simon Piluski, founder of Southern Vermont Solar. "GMP and Enphase are great partners with us in serving our community's energy needs now and into the future."

“Everyone should have access to home battery systems, and this new program is helping make the technology more attractive than ever before for our customers,” said Alex Mintz, CEO at Power Guru. “Not only do our customers benefit from reliable power using Enphase IQ Microinverters and IQ Batteries, but all customers also benefit by taking advantage of clean, local energy from the sun when it’s needed most.”

“We’re excited to work with GMP and Enphase to help Vermont homeowners get greater access to home solar and battery technology,” said James Moore, co-president at SunCommon. “The Enphase Energy System is a world-class home energy management solution designed to meet the unique needs of all our customers, while exceeding their expectations.”

​​The 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. Enphase IQ Batteries accommodate over-the-air software upgrades and come with a 10-year limited warranty with an optional 5-year limited warranty extension available for purchase, while Enphase IQ8 solar microinverters come with a 25-year limited warranty.

“We’re proud to work with Green Mountain Power on this program to offer Vermont homeowners Enphase IQ Batteries and IQ Microinverters,” said Dave Ranhoff, chief commercial officer at Enphase Energy. “Our industry-leading software and hardware make building and deploying virtual power plants easier than ever. And none of this would be possible without the professionalism and experience of our local installer partners, who all offer a best-in-class experience for our mutual customers.”

Learn more about Enphase and the Green Mountain Power home battery grid services programs 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 42 million microinverters, and approximately 1.9 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.

© 2022 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, IQ, 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, products, and services, including safety, quality and reliability; the availability and market adoption of our products and services; market growth; increased deployments; and the performance by our grid services and 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 is the new program Enphase Energy announced with Green Mountain Power?

Enphase Energy launched a battery lease grid services pilot program in partnership with Green Mountain Power, offering homeowners options for energy storage.

How much does the battery lease program cost for Vermont homeowners?

The program allows customers to lease two Enphase IQ Battery 10 units for $65 per month or pay $6,500 upfront.

What incentives can participants earn in the BYOD program with Enphase Energy?

Participants can receive an upfront payment of up to $9,500 when enrolling in the 'Bring Your Own Device' program.

What is the Grid Services Manager introduced by Enphase Energy?

It is a distributed energy resource management system (DERMS) designed to help manage virtual power plants with Enphase Energy Systems.

What warranty do Enphase IQ Batteries come with?

Enphase IQ Batteries come with a 10-year limited warranty, with an optional 5-year warranty extension available.