Enphase Energy Stock Price, News & Analysis

Enphase Energy (NASDAQ:ENPH) announced a partnership expansion with Palomar Solar, a leading solar installation company in Southern California. This collaboration enhances Enphase's storage business and reflects a longstanding relationship that began in 2009. Palomar Solar has installed solar solutions for over 3,000 customers and integrates Enphase Storage into its offerings, benefiting from increased demand. Executives from both companies emphasized the value of their collaboration in driving innovation and improving customer experience.

Enphase Energy reported Q1 2021 revenue of $301.8 million, a 14% increase from the previous quarter. Non-GAAP gross margin improved to 41.1%. The company shipped about 830 megawatts DC, totaling 2,452,765 microinverters. Cash flow from operations stood at $75.8 million, with an ending cash balance of $1,489 million. Enphase acquired Sofdesk, Inc. and the Solar Design Services of DIN Engineering to boost digital transformation. For Q2 2021, revenue is forecasted between $300-$320 million.

On April 19, 2021, Enphase Energy (NASDAQ: ENPH) announced that Transdev selected its microinverters for Australia's first fully solar-powered bus depot. The project, in collaboration with REA Global, features 250 REA Power Series Modules paired with Enphase IQ 7+ microinverters, establishing a 95 kW commercial installation. Enphase's technology emphasizes efficiency, safety, and reliability, with a robust warranty offering. This partnership highlights the shift towards solar-powered public transport, showcasing Enphase's commitment to innovation in energy management.

Enphase Energy will host a conference call and webcast on April 27, 2021, at 4:30 p.m. ET to discuss its first quarter 2021 financial results for the period ending March 31, 2021. Interested participants can access the live call at 877.644.1284 in the U.S. or +1.707.287.9355 internationally. A replay will be available post-call. Enphase, a leader in solar-plus-storage solutions, has shipped over 32 million microinverters and deployed approximately 1.4 million systems globally.

Enphase Energy (NASDAQ:ENPH) has expanded its Enphase Installer Network (EIN) into the Netherlands and Belgium, following successful launches in the U.S. and Australia. The EIN aims to support solar installers with digital tools, sales leads, and business analytics to enhance efficiency and profits. Installers can attain one of three tiers based on performance metrics. This initiative aligns with Enphase's growth strategy in the European solar market, with plans for further expansion in 2021. The EIN is complemented by enhancements to Enphase's Enlighten™ platform.

Enphase Energy (NASDAQ: ENPH) announced 24/7 support for its installers and system owners globally, enhancing customer experience in solar-plus-storage systems. This expansion aligns with the company’s commitment to superior service, complementing existing platforms like Enphase Community and Enphase University. Leaders in the industry acknowledge this move as vital for customer confidence and operational excellence, emphasizing Enphase's evolution towards comprehensive home energy management. In 2020, the company's support service achieved a Net Promoter Score (NPS) of over 60%, reflecting strong customer satisfaction.

Enphase Energy (NASDAQ: ENPH) has successfully completed its acquisition of the Solar Design Services business from DIN Engineering Services LLP, based in Noida, India. This acquisition is set to enhance Enphase's service offerings by providing proposal drawings and permit plan sets for residential solar installers across North America. The integration into Enphase's Enlighten™ platform is anticipated to streamline the sales process and improve customer service. This strategic move aims to reduce soft costs for installers and enhance the overall buying experience for homeowners.

Enphase Energy (NASDAQ: ENPH) has partnered with Rubicon Energy to distribute its IQ™ microinverters in South Africa, targeting residential and commercial installers. This collaboration aims to meet the increasing demand in the South African solar market by providing the IQ 7A™ microinverter, compatible with high-power solar modules. Enphase's technology ensures reliable performance under various environmental conditions, backed by a 25-year warranty in South Africa. This partnership enhances Enphase's global expansion efforts in the renewable energy sector, tapping into Africa's significant solar potential.

Enphase Energy, Inc. (NASDAQ: ENPH) has announced the deployment of a large-scale solar system at the Praxis of Deerfield Beach senior living community in Florida by Urban Solar. The system, spanning nine buildings, is expected to generate 1,040,900 kWh in its first year. The project utilizes 1,798 Enphase IQ 7+ microinverters and nine Envoy communications devices, facilitating efficient energy monitoring. Enphase's microinverters are known for their reliability, backed by a 25-year warranty. This initiative continues to showcase the company’s commitment to providing affordable solar energy solutions.