Enphase Energy Announces IQ Batteries Qualify for New York Battery Incentive Program

Rhea-AI Summary

Enphase Energy (NASDAQ: ENPH) announced that its IQ Batteries now qualify for the NYSERDA New York Battery Incentive Program. Homeowners in major New York utility service territories can receive significant upfront incentives: up to $6,250 in ConEd territory (NYC and Westchester) at $250/kWh, and up to $5,000 in other territories at $200/kWh.

The program covers all major utility service areas including Central Hudson, ConEd, NYSEG, National Grid, Orange and Rockland, and Rochester G&E. NYSERDA opened contractor registration on April 22, 2025, and will begin accepting residential incentive applications on June 10, 2025. Both the IQ Battery 5P and upcoming IQ Battery 10C models are expected to qualify.

Positive

• Significant upfront incentives of up to $6,250 per site reduce customer acquisition costs
• Program covers all major utility service territories in New York
• Large addressable market with tens of thousands of existing Enphase solar-only systems that could add batteries
• Hundreds of active installers can participate in the program

Negative

• None.

Insights

Energy Technology Analyst

Enphase's batteries now qualify for NY incentives up to $6,250, lowering customer costs and potentially accelerating adoption in a major market.

Enphase Energy's announcement that its battery systems now qualify for New York's Battery Incentive Program represents a significant market opportunity for the company in one of America's largest energy markets. The program offers substantial financial incentives—$250 per kWh (up to $6,250) in ConEd territories and $200 per kWh (up to $5,000) in other utility areas for homeowners installing energy storage systems.

This development effectively reduces the high upfront cost barrier that typically constrains residential battery adoption. For perspective, a standard configuration of five IQ Battery 5Ps would qualify for the maximum incentive, substantially improving the value proposition and potentially shortening payback periods for consumers.

Strategically, this announcement has multiple positive implications. First, it creates an immediate incentive for existing Enphase solar customers to add battery storage—the company notes there are "tens of thousands of existing Enphase solar-only systems" that could benefit. Second, it strengthens Enphase's competitive position in New York's energy storage market at a critical time when the state is actively promoting grid resilience.

The timing is particularly advantageous given the mention of "nearly a million homes losing power during major storms in 2024" and "unprecedented utility rate hikes" across New York. These market conditions create a compelling case for homeowners to invest in backup power solutions, with the new incentives making Enphase's offerings more financially accessible.

With applications opening on June 10, 2025, and both current IQ Battery 5Ps and upcoming IQ Battery 10Cs qualifying, Enphase is well-positioned to leverage this program to accelerate its battery attachment rate in a key market.

FREMONT, Calif., May 14, 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 homeowners in all of New York’s major investor-owned electric utility service territories who install Enphase IQ^® Batteries can now qualify to enroll in the NYSERDA New York Battery Incentive Program. Qualifying homeowners can receive an upfront payment of up to $6,250 through the program.

Homeowners in the Central Hudson, ConEd, NYSEG, National Grid, Orange and Rockland, and Rochester G&E service areas could receive the upfront incentive. Homeowners in the ConEd territory of New York City and Westchester County are eligible for an upfront incentive of $250/kWh, capped at $6,250 per site. For example, customers who install five IQ^® Battery 5Ps could earn $6,250 upfront. Additionally, homeowners in all other utility territories are eligible for an upfront incentive of $200/kWh, capped at $5,000 per site. Homeowners who install five IQ Battery 5Ps can earn up to $5,000 upfront.

“This incentive program significantly reduces the upfront cost of energy storage for our customers,” said Michael Catizone, president and co-founder at Long Island Power Solutions, an installer of Enphase products in New York. “The combination of the IQ Battery's reliability with NYSERDA's incentives creates a compelling value proposition for homeowners looking to gain energy independence."

“Our customers consistently praise the seamless integration between Enphase solar and battery products,” said Achilles Tzoulafis, owner of Infinity Energy, an installer of Enphase products in New York. “With this new incentive program, the advanced monitoring and control features of the IQ Battery are now more accessible to New York homeowners concerned about rising energy costs.”

“With nearly a million homes losing power during major storms in 2024 alone, and unprecedented utility rate hikes across New York, homeowners urgently need reliable backup solutions,” said Steve Kasselman, president and CEO of Kasselman Solar, a Platinum level installer of Enphase products in New York. “At Kasselman Solar, we’ve deployed multiple generations of Enphase battery systems statewide — and the IQ Battery 5P is their smartest, most advanced, and dependable technology yet. NYSERDA’s new incentive makes this proven solution more affordable than ever, providing residents immediate energy independence, lasting savings, and peace of mind that the lights will stay on, no matter what.”

“There are hundreds of active installers of Enphase products and tens of thousands of existing Enphase solar-only systems that could benefit from this program,” said Ken Fong, senior vice president and general manager of the Americas and APAC at Enphase Energy. “This program can help accelerate the adoption of reliable home energy storage by supporting homeowner energy independence while potentially providing significant savings.”

NYSERDA opened its registration portal for participating contractors on April 22, 2025, and will start receiving residential incentive applications on June 10, 2025. Enphase IQ Battery 5Ps and soon-to-be-released IQ^® Battery 10Cs are expected to qualify for the program. For instructions on how to register and submit an incentive, installers can view the program manual. For more information about the New York Battery Incentive Program, please visit the NYSERDA 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 81.5 million microinverters, and approximately 4.8 million Enphase-based systems have been deployed in over 160 countries. For more information, visit https://investor.enphase.com.

©2025 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, IQ8, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks 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; expectations regarding NYSERDA New York Battery Incentive Program; and timing and availability of qualifying under the various programs. 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 Quarterly Report on Form 10-Q, 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 much can homeowners save through NYSERDA's battery incentive program for Enphase IQ Batteries?

Homeowners can receive up to $6,250 in ConEd territory (NYC and Westchester) at $250/kWh, and up to $5,000 in other NY territories at $200/kWh.

When will NYSERDA start accepting residential applications for the Enphase battery incentive program?

NYSERDA will begin accepting residential incentive applications on June 10, 2025. Contractor registration opened on April 22, 2025.

Which Enphase battery models qualify for the NYSERDA incentive program?

The IQ Battery 5P and the upcoming IQ Battery 10C models are expected to qualify for the program.

Which utility service territories in New York are eligible for the Enphase battery incentives?

The program covers Central Hudson, ConEd, NYSEG, National Grid, Orange and Rockland, and Rochester G&E service areas.

What is the per kWh incentive rate for ENPH batteries in ConEd territory vs other NY areas?

ConEd territory receives $250/kWh (capped at $6,250), while other utility territories receive $200/kWh (capped at $5,000).