Virtual power plants (VPPs) coordinate home energy resources, dispatching power to the grid at key times of high electricity demand in exchange for compensation.
Microinverter supplier Enphase is slipping in share price as revenues dip. It has announced a $1 billion stock buyback program.
Enphase is now waiting for final approval from the EU authorities and expects to finalize its plans to buy GreenCom Networks in the fourth quarter.
The US micro-inverter manufacturer issued strong guidance for Q3 as its revenues and earnings per share beat estimates.
Long-overdue safety and compliance regulation increases came into effect in May. US-based Enphase Energy claims its technology’s exemption from much of nation-wide regulations means installers across the country are opting for its products exclusively.
Enphase expects the volume of business generated to rise again for the April-June period, accompanied by another bump in battery shipments.
This is Enphase Energy’s fourth recent acquisition, which enhances Enphase Energy’s planned digital platform for installers.
Microinverter provider Enphase has signed a deal with Swell Energy to participate in distributed virtual power plants in California, New York and Hawaii.
The AC module incorporates Enphase IQ 7+ microinverters and has now a higher wattage of 385 W.