Enphase Energy Launches IQ8 Microinverters in Finland
Rhea-AI Summary
Enphase Energy (NASDAQ: ENPH) has launched its IQ8 Microinverters in Finland, marking its entry into the Finnish solar market. The new IQ8 series—including IQ8MC, IQ8AC, and IQ8HC—offers peak output power of 330W, 366W, and 384W, respectively, and supports solar modules up to 560W DC. Finland's solar capacity reached 1 GW by the end of 2023, with projections to triple by 2030. Each IQ8 Microinverter comes with a 25-year warranty and integrates with the Enphase Energy System for streamlined monitoring and maintenance. Orders are available starting today.
Positive
- Enphase Energy expands into the Finnish solar market, tapping into a growing sector.
- IQ8 Microinverters offer high peak output power of up to 384W, supporting efficient energy production.
- The new product supports solar modules up to 560W DC, making it versatile for various applications.
- Finland's solar capacity is projected to triple by 2030, presenting significant growth potential.
- Each IQ8 Microinverter comes with a 25-year warranty, indicating product reliability.
- Integration with the Enphase Energy System allows for easy monitoring and maintenance.
Negative
- The press release does not specify pricing details, which could raise cost-related concerns.
- No concrete financial projections or sales targets were provided, leaving investors uncertain about potential revenue impact.
- The entry into a new market involves inherent risks, including potential regulatory and operational challenges.
News Market Reaction 1 Alert
On the day this news was published, ENPH declined 1.72%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
FREMONT, Calif., May 21, 2024 (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 it has entered the solar market in Finland with the introduction of IQ8™ Microinverters, with peak output AC power of up to 384 W.
Finland’s solar market has been steadily growing year over year. The country's installed solar capacity reached approximately 1 GW by the end of 2023 and numbers are expected to nearly triple by 2030, according to research by Solar Power Europe.
IQ8 Microinverters are designed to maximize energy production and can manage a continuous DC current of 14 amperes, supporting higher-powered solar modules through increased energy harvesting. The three new microinverters – IQ8MC™, IQ8AC™, and IQ8HC™ – feature a peak output power of 330 W, 366 W, and 384 W, respectively, and are designed to seamlessly pair with a full range of solar modules up to 560 W DC. All IQ8 series microinverters activated in Finland come with a 25-year limited warranty.
“We partner with Enphase throughout Europe because of their amazing reputation for building quality products that can last the test of time,” said David Sätterman, COO of 1KOMMA5 Nordics, a distributor of Enphase products in Sweden, Denmark, and Finland. “We’re excited to work with Enphase’s latest products in the Finnish solar market, supporting growing demand for high-performance, reliable, and safe home energy solutions across the country.”
The Enphase® Energy System™ integrates with the IQ® Gateway, which can be connected to the internet to enable over-the-air updates and connect to the Enphase® App monitoring platform. The IQ Gateway and IQ® Microinverters make per-panel energy monitoring and insights for operations and maintenance simple for homeowners and small businesses.
“We’re excited to continue our expansion into Europe with our new IQ8 Microinverter-based solar energy systems,” said Sabbas Daniel, senior vice president of sales at Enphase Energy. “Our industry-leading products combined with our dedication to excellent customer service will help installers in the region expand their businesses without sacrificing quality.”
Distributors and installers can order IQ8 Microinverters in Finland starting today. For more information on Enphase, please visit the Finland 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 75 million microinverters, and approximately 4.1 million Enphase-based systems have been deployed in more than 150 countries. For more information, visit https://enphase.com/.
©2024 Enphase Energy, Inc. All rights reserved. Enphase, the “e” logo, IQ, IQ8, IQ8MC, IQ8AC, IQ8HC and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks of Enphase Energy, Inc. in the United States and other countries. 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 Energy products in Finland; and expectations about growth in Finland’s solar market. 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
FAQ
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