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Enphase Energy Inc. (ENPH - Snapshot Report) has announced the extension of its strategic partnership with Vivint Solar Inc. – a unit of Vivint Inc. – for the year 2013. Enphase’s Microinverter system ably supplements the solar system provided by Vivint Solar.

Vivint Solar is one of the fastest expanding solar companies in North America due to its unique business model. This model allows the customers to use solar power generally at cheaper rates than what is offered by other utilities in the region.

Per the model, the customers allow their rooftops to be utilized by Vivint Solar for solar cell installation. Vivint Solar will operate and maintain these systems and incur all necessary expenses. Customers in turn will have to enter into a power purchase agreement (PPA) with Vivint Solar and buy the power generated by the solar photovoltaic system installed on their rooftops.

For the proper utilization of the energy generated by the photovoltaic cell, the use of an inverter system is essential. Enphase Energy’s Microinverter system ensures the effective and efficient use of the solar systems installed resulting in better savings for customers.

Enphase Energy’s microinverter systems are gaining traction among solar power generators. Recently, Ariz.-based Cambio Energy decided to utilize Enphase’s cutting-edge Microinverter System for its solar installation at the Tempe Plaza Solar project.

Enphase Energy is working hard to turn profitable since it started to trade a year back, but is yet to report earnings in the green. Enphase Energy currently carries a Zacks Rank # 5 (Strong Sell).  Other solar companies which are performing well and have a positive Zacks Rank are Canadian Solar Inc. (CSIQ - Analyst Report), ReneSola Ltd. (SOL - Analyst Report) and STR Holdings Inc. (STRI). All these are better placed with a Zacks Rank #2 (Buy).

Based in Petaluma, Calif., Enphase Energy, Inc. along with its subsidiaries engages in the design, development, and sale of microinverter systems for the solar photovoltaic industry.

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