Enphase Energy Inc. (ENPH - Snapshot Report) announced the utilization of its Enphase M215 Microinverter systems in a 2.3MW (2MW AC) solar venture at Vine Fresh Produce, Ltd., in Ontario, Canada. Sentinel Solar worked on the installation of more than 9,000 Enphase inverters and JinkoSolar Holding Co., Ltd.’s (JKS - Snapshot Report) solar modules on the three-phase rooftop solar photovoltaic (PV) program.
Straddled on Vine Fresh Produce’s existing greenhouse complex, the solar rooftop project, Enphase Energy’s largest to date, is a part of the region’s Feed-in-Tariff (FIT) program. The solar array replaces a part of the roof structure of the greenhouse facility exposing the underside of each solar module which offers easy accessibility and maintenance.
Enphase Energy’s cutting edge microinverter system provides high-quality installation, operation and maintenance solutions to solar energy systems. Combined with its Envoy Communications Gateway and Enlighten web-based software platform, Enphase Energy’s products deliver increased energy yield and unmatched solar intelligence services.
The streamlined features of Enphase Energy’s microinverters along with the safety of an all-AC system will enable Vine Fresh Produce’s owners to install and maintain their own solar assets.
Enphase Energy’s products have successfully managed to hold its presence in the markets of Europe and Asia as well as the emerging solar market of Australia. In Jun 2013, the company announced a major commercial solar initiative in Europe, which involves superior commercial solution, resources and training for the use of Enphase Energy’s microinverters in solar projects. It would also support installers in the growth of their business.
Although microinverters have steadily gained traction in the North American market, the modern high-tech features associated with these inverters make it costly compared to its cheaper counterpart, string inverters. Despite the effort to bring more parity in costs of these two types of inverters, the estimated 15% to 20% decrease in three-phase string inverter prices in 2013 will likely be a damper for the company.
Enphase Energy currently holds a Zacks Rank #4 (Sell). Other solar product manufacturers worth considering at the moment are Zacks Ranked #1 (Strong Buy) SunPower Corp. (SPWR - Analyst Report) and Zacks Ranked #2 (Buy) Yingli Green Energy Holding Company Limited (YGE - Snapshot Report).