We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Enphase Energy & REA Global to Expand IQ7+ Use in Australia
Read MoreHide Full Article
Enphase Energy, Inc. (ENPH - Free Report) recently joined REA Global to combine its IQ 7+™ microinverters with the latter’s proprietary high efficiency, high-density cell solar modules. This pair will produce greater solar power from a smaller space for both residential and commercial customers across Australia.
Benefits of the Deal
Since 2006, REA Global's solar division REA Solar has offered turnkey solar energy solutions, which help its customers reduce their energy bills and dependency on the electricity grid. Enphase’s microinverters will improve customer services, enabling both entities to monitor every installed solar panel to automatically detect and respond to issues.
Remarkably, the deal will aid both companies to deliver peak yields to their clients with superior efficiency, reliability and safety.
Significance of IQ 7+
Enphase IQ 7+ microinverters are capable of simplifying the design and installation process, and offering a complete AC system that produces no high-voltage DC, thereby providing a safe solar solution. IQ 7+ and IQ 7 constitute the company’s seventh-generation microinverter.
With Enphase enjoying a global customer base, every region of the world where its products are sold is now using this seventh-generation microinverter. In 2019, 98% of the company’s microinverter shipments consisted of IQ 7.Enphase's microinverters are designed to be durable energy assets and are backed by a 10-year warranty in the Australian solar market, which can be extended for a fee to 15, 20 or 25 years.
Moreover, the company’s first-quarter 2020 gross margin grew5.9 basis points on a year-over-year basis, driven by higher product margins as a result of increased shipment of its IQ 7+ family of microinverters.
On Jul 15, 2020, Enphase reached an agreement with SunPower (SPWR - Free Report) to produce the new Enphase Energized™ Maxeon AC Module and expand its distributions, globally. The product will feature a factory-integrated seventh-generation Enphase IQ™ microinverter.
Enphase’s Prospects in Australia
The solar market in Australia is gaining momentum, courtesy of tumbling installation costs along with improved technology. Notably, per a report by Australia Governmment’s Department of Industry, Science, Energy and Resources, the nation registered the maximum uptake of solar energy globally with 21% of homes comprising rooftop solar PV. As of May 31, 2020, more than 2.43 million rooftop solar power systems and 1.23 million solar water heaters were installed across the nation.
Being a prominent microinverter supplier in the global solar space, Enphase’s products are frequently preferred by countries across the world, and Australia is no exception. In fact, another project is already ongoing with collaboration between Enphase and Excel Power, which will equip the Queensland Fire and Emergency Services (QFES) with rugged, high-performance solar resource to boost operational efficiency and enhance sustainability.
The latest deal further fortifies Enphase’s footprint in the rapidly-growing solar market in Australia. Considering the fact that Australia’s government has been investing amply in the nation’s solar market expansion, we expect Enphase to clinch more such deals in the coming days.
Other Solar Players Venturing Into the Market
Realizing the prospects of the Australian solar market, other solar players are also growing their presence in this space. In August 2019, Canadian Solar Inc. (CSIQ - Free Report) signed agreement contract for providing Operations & Maintenance (O&M) services to three Australia-based solar photovoltaic (PV) plants with an aim to minimize downtime and increase site availability.
Last July, JinkoSolar (JKS - Free Report) announced the supply of its monocrystalline solar panels to its Australia-based arm Vena Energy, which is the largest renewable energy company in the Asia Pacific region.
Enphase’s stock has skyrocketed 198.8% in the past year, outperforming the industry’s rally of 53.3%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Image: Bigstock
Enphase Energy & REA Global to Expand IQ7+ Use in Australia
Enphase Energy, Inc. (ENPH - Free Report) recently joined REA Global to combine its IQ 7+™ microinverters with the latter’s proprietary high efficiency, high-density cell solar modules. This pair will produce greater solar power from a smaller space for both residential and commercial customers across Australia.
Benefits of the Deal
Since 2006, REA Global's solar division REA Solar has offered turnkey solar energy solutions, which help its customers reduce their energy bills and dependency on the electricity grid. Enphase’s microinverters will improve customer services, enabling both entities to monitor every installed solar panel to automatically detect and respond to issues.
Remarkably, the deal will aid both companies to deliver peak yields to their clients with superior efficiency, reliability and safety.
Significance of IQ 7+
Enphase IQ 7+ microinverters are capable of simplifying the design and installation process, and offering a complete AC system that produces no high-voltage DC, thereby providing a safe solar solution. IQ 7+ and IQ 7 constitute the company’s seventh-generation microinverter.
With Enphase enjoying a global customer base, every region of the world where its products are sold is now using this seventh-generation microinverter. In 2019, 98% of the company’s microinverter shipments consisted of IQ 7.Enphase's microinverters are designed to be durable energy assets and are backed by a 10-year warranty in the Australian solar market, which can be extended for a fee to 15, 20 or 25 years.
Moreover, the company’s first-quarter 2020 gross margin grew5.9 basis points on a year-over-year basis, driven by higher product margins as a result of increased shipment of its IQ 7+ family of microinverters.
On Jul 15, 2020, Enphase reached an agreement with SunPower (SPWR - Free Report) to produce the new Enphase Energized™ Maxeon AC Module and expand its distributions, globally. The product will feature a factory-integrated seventh-generation Enphase IQ™ microinverter.
Enphase’s Prospects in Australia
The solar market in Australia is gaining momentum, courtesy of tumbling installation costs along with improved technology. Notably, per a report by Australia Governmment’s Department of Industry, Science, Energy and Resources, the nation registered the maximum uptake of solar energy globally with 21% of homes comprising rooftop solar PV. As of May 31, 2020, more than 2.43 million rooftop solar power systems and 1.23 million solar water heaters were installed across the nation.
Being a prominent microinverter supplier in the global solar space, Enphase’s products are frequently preferred by countries across the world, and Australia is no exception. In fact, another project is already ongoing with collaboration between Enphase and Excel Power, which will equip the Queensland Fire and Emergency Services (QFES) with rugged, high-performance solar resource to boost operational efficiency and enhance sustainability.
The latest deal further fortifies Enphase’s footprint in the rapidly-growing solar market in Australia. Considering the fact that Australia’s government has been investing amply in the nation’s solar market expansion, we expect Enphase to clinch more such deals in the coming days.
Other Solar Players Venturing Into the Market
Realizing the prospects of the Australian solar market, other solar players are also growing their presence in this space. In August 2019, Canadian Solar Inc. (CSIQ - Free Report) signed agreement contract for providing Operations & Maintenance (O&M) services to three Australia-based solar photovoltaic (PV) plants with an aim to minimize downtime and increase site availability.
Last July, JinkoSolar (JKS - Free Report) announced the supply of its monocrystalline solar panels to its Australia-based arm Vena Energy, which is the largest renewable energy company in the Asia Pacific region.
Zacks Rank& Price Performance
The company currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Enphase’s stock has skyrocketed 198.8% in the past year, outperforming the industry’s rally of 53.3%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>