Microinverter supplier Enphase Energy is witnessing soaring demand for its products in Europe for self-consumption as the continent''s energy crisis is increasing causing people to look to residential solar PV, paired with battery storage in many cases.
Enphase, which is ramping up its efforts to provide holistic home energy solutions and management systems, told this site that demand for its products in Europe has always been strong but that the current energy crisis has seen this go up to another level.
In order to better service this mounting demand, Enphase has expanded its global manufacturing capacity by partnering with manufacturer Flex in Timisoara, Romania for its European base.
Speaking with PV Tech at the RE+ industry event in Anaheim, California, Andy Newbold, Enphase''s senior director of communications, said the company was actively exploring the idea of bringing manufacturing to the US following the passing of the Inflation Reduction Act (IRA) and the manufacturing incentives it bring, especially for microinverters which has its own subcategory.
More details on that should be released soon but there is still some uncertainty as to how the legal language included in the IRA will be translated to actual policy support, Newbold said.
Meanwhile, the company is working to develop a whole home energy solution system that will provide customers with smart energy options as it strives to offer greater home energy management.
Newbold said the acquisition of GreenCom, which provides smart home energy solutions in its home market of Germany, will allow it to offer better services to its other customers by drawing on GreenCom''s knowledge of the sector and lessons from other markets.
Microinverter supplier Enphase Energy almost doubled its Q2 2022 revenue year-on-year as homeowner demand for self-consumption increases on the back of rising energy prices.
The California-headquartered company''s revenue in Europe was up 89% on the same quarter last year and 69% on Q1 2022, led by strong demand for microinverters in the Netherlands, France, Germany, Belgium, Spain and Portugal.
"We have an incredible opportunity in Europe," Enphase CEO Badri Kothandaraman said on a conference call with investors, adding that there is a growing demand for home electrification in the region, driven by both the proliferation of electric vehicles (EVs) and natural gas shortages.
A research note published by analysts at financial services firm Wells Fargo said that with Enphase''s significant European expansion underway, the company''s growth in the continent is likely to remain elevated into Q4 as it deploys additional battery supply into the region.
Kothandaraman said production at the Romania facility will increase the company''s quarterly microinverter capacity across all its contract manufacturing facilities from around 5 million to 6 million.
This year has seen Enphase complete its acquisition of EVcharging station manufacturer ClipperCreek, with Enphase co-founder Raghu Belur telling PV Tech Premium earlier this year the company is accelerating efforts to develop bi-directional EV charging.
Kothandaraman said during the conference call that the company is on track to manufacture Enphase branded EV chargers at its contract manufacturing facility in Mexico this quarter, helping it to scale and drop costs.
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