Enphase Energy Amplifies Grid Services Support Across Key US States
$ENPH
Enphase Energy, Inc. (NASDAQ: ENPH) has announced a major expansion of its support for grid services programs in key U.S. states, including New Hampshire, North Carolina, and California. This initiative is driven by the launch of the IQ® Battery 5P, which aims to enhance energy resilience and sustainability through virtual power plants (VPPs). These grid services programs, managed by regional utilities, utilize energy stored in home batteries to provide power to communities during peak electricity demand, reducing reliance on traditional, often costly, and polluting power plants.
Homeowners participating in these programs can receive financial incentives, which can take the form of discounts on Enphase® Energy System™ purchases or ongoing payments. In New Hampshire, the Eversource New Hampshire Clean Energy Fund (NHCEF) for Battery Storage Program offers rebates between $3,000 and $3,750 for residential and commercial customers who install three IQ Battery 5Ps.
In North Carolina, participants in the Duke Energy PowerPair Program can earn an upfront incentive of $9,000 by installing three IQ Battery 5Ps along with at least 10 kW of solar through a Duke Energy Trade Ally installer. These customers may also enroll in Duke Energy’s battery control programs for additional monthly bill credits. Meanwhile, California residents can benefit from the San Diego Community Power Solar Battery Savings Program, which provides an upfront incentive rebate of $3,150 for installing two IQ Battery 5Ps, along with potential performance incentive payments of around $3,000 over ten years.
The success of these programs is bolstered by Enphase’s advanced home energy technology, which includes high-performance solar systems and batteries essential for effective grid operations and reducing electricity costs. Industry experts like Edward Wright from Rhino Renewables Solar & Electric and Jeff Carelli, president and CEO of Sunlight Solar, highlight how Enphase’s technology enhances energy independence and contributes to a sustainable energy future.
Mehran Sedigh, Enphase’s senior vice president of sales, emphasized the importance of the company’s innovative software and hardware in facilitating participation in grid services programs. The IQ Battery 5P is central to this initiative, offering exceptional durability and value for homeowners. Headquartered in Fremont, California, Enphase is a leading provider of microinverter-based solar and battery systems. The company has significantly influenced the solar industry with its microinverter technology and continues to innovate through integrated solar, battery, and software solutions.
So far, Enphase has shipped around 76.3 million microinverters and deployed over 4.3 million Enphase-based systems in more than 150 countries. This expansion into grid services highlights Enphase Energy’s dedication to advancing clean energy technologies and meeting the growing demand for energy resilience. As the company supports VPPs across the United States, it solidifies its position as a crucial player in the transition towards a more sustainable and efficient energy landscape.
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