Enphase preps commercial inverters and small off-grid solar+storage box

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Enphase matters. It’s making money, it’s got good-looking gear, and there might just be an ace up its sleeve. On Dec. 12, the company hosted institutional investors and financial analysts at its annual “Analyst Day” presentation.

Much of the presentation was of course financial information. The company noted that full-year revenue was projected at $619 million in 2019, with operating income at $122 million. These values were up 96% and 495% year on year. The company hopes to expand to eight new European countries in 2020, doubling its revenue from the continent within the year.

Based upon a combination of estimates from third parties, Enphase sees the global residential “serviceable available market” (SAM) expanding from $2.5 billion this year, to $4 billion in 2022. When adding in residential storage, small commercial solar, and off-grid solar+storage, the company projects its SAM to grow from $3.3 billion to $12.5 billion by 2022. A recent analysis by Wood Mackenzie Renewables & Power suggested that its products have been installed on 19% of residential rooftops this year.

There was much talk regarding the company’s Ensemble line, as well as the soon-to-launch IQ8 grid-forming micro-inverter. The full-on Ensemble 2.0 suite includes IQ8 inverters, an Enpower Switch – which sits between the home and the power grid – and the energy storage solution, which is wired directly to the switch. All items are wirelessly connected.

Lastly, the company showed off its “Ensemble in a Box” which allows two solar modules to be connected to a case that includes energy storage, inverters, and plugs to power things. The company said the hardware was focused on the Indian market, where energy poverty is a true societal challenge.