FREMONT, Calif., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced today that it is expanding its support for grid services programs – or virtual power plants (VPPs) – in New Hampshire, North Carolina, and California, powered by the new IQ® Battery 5P.
Grid services programs are managed by regional utilities and use energy stored in home batteries to help power communities when it is needed most, like during periods of peak electricity demand. This reduces reliance on costly and polluting power plants for electricity and, in return, provides incentives to homeowners from their own utilities. Incentive programs may serve as a discount on the purchase of an Enphase® Energy System™ with IQ Batteries or as ongoing payments to participating homeowners. Most recently, homeowners who install Enphase IQ Batteries are now eligible to enroll in the following programs:
Duke Energy PowerPair Program: Participants enrolled in this program who install three IQ Battery 5Ps and at least 10 kW of solar with a Duke Energy Trade Ally installer are eligible to receive an upfront incentive of $9,000. Customers who also enroll in Duke Energy’s battery control programs - Duke Energy Power Manager or Duke Energy Progress EnergyWise - are eligible to receive additional ongoing monthly bill credits. Learn more about the details of the program on the Enphase website.
"Enphase’s dependable, high-performance, and safe home energy technology is enabling the clean energy future," said Edward Wright, co-owner of Rhino Renewables Solar & Electric, an installer of Enphase products based in North Carolina. "Home solar systems and batteries are crucial for supporting grid operations and reducing electricity costs for everyone.”
San Diego Community Power Solar Battery Savings Program: Participants enrolled in this program who install two IQ Battery 5Ps are eligible to receive an upfront incentive rebate of $3,150. Customers are also eligible to receive ongoing performance incentive payments worth approximately $3,000 over the ten-year participation period, from the time of enrollment. Learn more about the details of the program on the San Diego Community Power website.
“Enphase’s innovative battery solutions are a game-changer for homeowners looking to boost their energy resilience,” said Jeff Carelli, president and CEO of Sunlight Solar, an installer of Enphase products based in California and a Solar Battery Savings Program approved contractor. “By participating in grid services programs, our customers can not only maximize their energy independence but also contribute to a more sustainable energy future here in California.”
Eversource New Hampshire Clean Energy Fund (NHCEF) for Battery Storage Program: Participants enrolled in this demand response program who install three IQ Battery 5Ps are eligible to receive an upfront incentive rebate of $3,000 for residential customers and $3,750 for commercial customers (up to $10,000 for eight IQ Battery 5Ps). Learn more about the details of the program on the Enphase website.
“Our customers can now enhance the value of their system while contributing to a more sustainable and resilient grid,” said Hunter Judd owner of Sunup Solar, an installer of Enphase products based in New Hampshire. “Grid services programs make Enphase’s technology more accessible so more homeowners can enjoy the benefits of Enphase home battery systems.”
“Our cutting-edge software and hardware are designed to simplify participation in grid services programs for homeowners,” said Mehran Sedigh, senior vice president of sales at Enphase Energy. “Central to this effort is the new IQ Battery 5P, providing exceptional durability and value for homeowners. We are proud to expand our support for virtual power plants across the United States."
For more information about grid services, please visit the Enphase website.
About Enphase Energy, Inc.
Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 76.3 million microinverters, and over 4.3 million Enphase-based systems have been deployed in more than 150 countries. For more information, visit https://enphase.com/.
©2024 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.
Forward-Looking Statements
This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality and reliability; the availability and market adoption of Enphase products; Enphase’s ability to expand its support for VPPs; and expectations of and eligibility for incentives under the various incentive programs. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties including those risks described in more detail in Enphase Energy’s most recently filed Quarterly Report on Form 10-Q, Annual Report on Form 10-K, and other documents filed by Enphase Energy from time to time with the SEC. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.
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