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Enphase (ENPH) to Supply IQ Microinverter to Solar Solution
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Enphase Energy, Inc. (ENPH - Free Report) recently announced that the leading solar contractor Solar Solution will use IQ™ solar microinverter produced by Enphase Energy in its 72-cell solar modules to provide clean solar energy to commercial, non-profit and residential customers in Washington, DC. Since 2010, Solar Solution has deployed nearly 75,000 microinverters supplied by Enphase.
Washington, DC-based Solar Solution believes that the company’s IQ Micros are best suited to support 72-cell modules, as the IQ Micros provide high-power output, great reliability and reduced system outage risk, along with 25 years warranty. These also maximize the solar power generation, which altogether reduces operations and maintenance costs. All these factors enable Solar Solution to keep customers’ electric bills low, while fulfilling the conditions of the PPA.
Enphase’s Microinverter - Outlook
The Enphase IQ Microinverter System simplifies solar installations and provides complete alternating current solution that utilizes no high-voltage direct current. This provides a safe solar solution to homeowners. Enphase introduced the seventh-generation microinverter in first-quarter 2018, which is light and compact, and offers state-of-the-art power performance. The IQ 7 series of microinverter provide nearly 96.5% of efficiency with additional production of 23% compared with the existing microinverter series.
The company is continuously putting in efforts and carrying out R&D to introduce new and better quality microinverters to serve its existing and potential customers. It is also planning to introduce a series of IQ 7X during fourth-quarter 2018. Also, the company is expected to introduce a more powerful and compact IQ 8 system in 2019, which will allow solar systems to operate independently of the power grid.
Importance of Renewable
By 2018 end, EIA expects an additional 5,067 megawatt of solar power to come online. Per the forecast, solar capacity is anticipated to grow 127 gigawatt (GW) in 2050 from 2.3 GW at the end of first half of 2018. Also, electricity produced from solar power will likely account for nearly 14% of the total energy output to be generated during the same period. The above projection from EIA indicates a massive addition of solar generation in the electricity production mix. We can safely conclude there will be increasing demand for Enphase’s microinverters over the long run.
Other companies focusing on renewable energy like solar energy are Canadian Solar Inc. (CSIQ - Free Report) , which currently has multiple late-stage 2.2 gigawatt-peak utility-scale solar power projects in its pipeline including those under construction. Another company in the same space, JinkoSolar Holding Co., Ltd. (JKS - Free Report) , has multiple solar projects in pipeline around the globe. The company has signed a few agreements with international companies to supply solar modules.
Price Movement
In the past year, shares of Enphase have gained a staggering 235.5% compared with its industry’s growth of just 4.4%.
A better-ranked stock from the Zacks Oil & Energy Sector is NextEra Energy Partners, LP (NEP - Free Report) , carrying a Zacks Rank #2 (Buy). The stock has seen the Zacks Consensus Estimate for current-year earnings being revised 16.3% upward over the past 30 days to $3.22 per unit. The company pulled off an average earnings surprise of 67.53% over the trailing four quarters.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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Enphase (ENPH) to Supply IQ Microinverter to Solar Solution
Enphase Energy, Inc. (ENPH - Free Report) recently announced that the leading solar contractor Solar Solution will use IQ™ solar microinverter produced by Enphase Energy in its 72-cell solar modules to provide clean solar energy to commercial, non-profit and residential customers in Washington, DC. Since 2010, Solar Solution has deployed nearly 75,000 microinverters supplied by Enphase.
Washington, DC-based Solar Solution believes that the company’s IQ Micros are best suited to support 72-cell modules, as the IQ Micros provide high-power output, great reliability and reduced system outage risk, along with 25 years warranty. These also maximize the solar power generation, which altogether reduces operations and maintenance costs. All these factors enable Solar Solution to keep customers’ electric bills low, while fulfilling the conditions of the PPA.
Enphase’s Microinverter - Outlook
The Enphase IQ Microinverter System simplifies solar installations and provides complete alternating current solution that utilizes no high-voltage direct current. This provides a safe solar solution to homeowners. Enphase introduced the seventh-generation microinverter in first-quarter 2018, which is light and compact, and offers state-of-the-art power performance. The IQ 7 series of microinverter provide nearly 96.5% of efficiency with additional production of 23% compared with the existing microinverter series.
The company is continuously putting in efforts and carrying out R&D to introduce new and better quality microinverters to serve its existing and potential customers. It is also planning to introduce a series of IQ 7X during fourth-quarter 2018. Also, the company is expected to introduce a more powerful and compact IQ 8 system in 2019, which will allow solar systems to operate independently of the power grid.
Importance of Renewable
By 2018 end, EIA expects an additional 5,067 megawatt of solar power to come online. Per the forecast, solar capacity is anticipated to grow 127 gigawatt (GW) in 2050 from 2.3 GW at the end of first half of 2018. Also, electricity produced from solar power will likely account for nearly 14% of the total energy output to be generated during the same period. The above projection from EIA indicates a massive addition of solar generation in the electricity production mix. We can safely conclude there will be increasing demand for Enphase’s microinverters over the long run.
Other companies focusing on renewable energy like solar energy are Canadian Solar Inc. (CSIQ - Free Report) , which currently has multiple late-stage 2.2 gigawatt-peak utility-scale solar power projects in its pipeline including those under construction. Another company in the same space, JinkoSolar Holding Co., Ltd. (JKS - Free Report) , has multiple solar projects in pipeline around the globe. The company has signed a few agreements with international companies to supply solar modules.
Price Movement
In the past year, shares of Enphase have gained a staggering 235.5% compared with its industry’s growth of just 4.4%.
Zacks Rank & A Key Pick
Enphase currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A better-ranked stock from the Zacks Oil & Energy Sector is NextEra Energy Partners, LP (NEP - Free Report) , carrying a Zacks Rank #2 (Buy). The stock has seen the Zacks Consensus Estimate for current-year earnings being revised 16.3% upward over the past 30 days to $3.22 per unit. The company pulled off an average earnings surprise of 67.53% over the trailing four quarters.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>