Enphase Energy Shares Up As It Signs Deal With Petersen-Deal to Supply Inverters


Over the last trading session, shares of Enphase Energy Inc. (ENPH) were up 2.2%, or 69 cents a share. Year over year, shares of the solar stock are now up 548% from a 2019 low of $4.92. That’s far greater than the year to date returns of 7% on the Energy Select Sector SPRD Fund (XLE), and the 33% returns on the S&P 500.

Enphase Energy, Inc. designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services. It sells its solutions primarily to distributors, as well as directly to large installers, original equipment manufacturers, strategic partners, and homeowners. 

The stock saw incredible earnings in 2019. Revenue was on pace to nearly double, with operating income on course to run up nearly 500%. All thanks to strong sales for its micro-inverts, which convert energy produced by solar panels into usable electricity.

Related: How We Made 50% in Six Weeks from Solar…

Shares of ENPH are running even higher on news it expanded its new-home solar initiative so that residential home developers, solar installers and new-home buyers can all benefit from the high level of design flexibility, reliability, and expandability of Enphase solar and storage products, as noted in the company’s press release.

“We are excited that residential developers and solar installers are using our fundamental design principles to offer homebuyers the option to easily add more solar or storage to their new homes,” said Dave Ranhoff, chief commercial officer at Enphase Energy. “The modular, plug-and-play design of Enphase home energy products also give developers in California the freedom to tailor home energy systems to meet the expectations of their target homebuyers and comply with the state’s new home solar mandate.”

In addition, the company announced that Petersen-Dean, Inc., one of the largest full-service, privately-held roofing and solar companies in the U.S. selected ENPH as its supplier of solar inverters and battery storage systems.

“Enphase provides the most comprehensive and integrated energy solution for solar and storage, and its products deliver the reliability, performance, and design flexibility we need to provide the best possible value to our home builders, developers and consumers,” said Jim Petersen, founder, president, and CEO of Petersen-Dean, Inc. “We are very excited about the prospect of offering our customers Enphase microinverters and Encharge storage systems to help reduce their energy bills and bring a new level of energy security to people who want to protect their homes and businesses from power outages.”

Ian Cooper’s Personal Position in ENPH: None

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