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Enphase (ENPH), Sunpro Ink Deal, Latter to Market Its Batteries

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Enphase Energy, Inc. (ENPH - Free Report) announces expansion of its partnership with Sunpro Solar by giving the latter the right to install and promote Encharge™ battery storage systems and solar systems. Currently, Sunpro has operations in 21 states and has plans to expand nationwide, which in a way assist in spreading Enphase’s solar-plus-storage devices across the country.

Prior to this, in the second quarter, the company started shipments of its Encharge battery storage systems to customers in Germany. Also, it introduced load control for its Encharge battery storage systems so that heavy loads can be automatically shared through a onetime app setting. Further, it expects to launch these products in other markets of Europe and Australia.

Benefits of the Systems

The company’s solar-plus-storage solution does not put the installers or homeowners to the risk of high-voltage DC. Its battery provides a long cycle life, safe operation through thermal stability and a UL9540A fire safety certification. The same has an Enphase Power Start™ technology that helps power air conditioners and well-pumps.

It is also easily accessible via mobile apps. It comes with an offer of over-the-air software upgrades and has a 10-year limited warranty with an added flexibility to extend for another 5-years period.

Other Efforts

In order to benefit from rising demand in the solar market and provide better services to its customers, the company constantly comes up with newer versions of micro inverters. Enphase launched its Enphase Installation Network (EIN) in Europe and India during the second quarter. It also introduced EIN in the Mexican solar market.

Also, the company is making good progress in launching the IQ 8 photovoltaic (PV), the world’s first grid independent microinverter. It is working on the compliance, reliability and system testing of these products. Enphase expects first shipments of the IQ 8D product in the fourth quarter of 2021. Moreover, Enphase projects to launch the portable Ensemble-in-a-Box solution in the December quarter.

Zacks Rank & Price Performance

The company currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

In a year’s time, shares of Enphase have gained 65.8% against the industry’s decline of 9.7%.

One Year’s Price Performance

Zacks Investment ResearchImage Source: Zacks Investment Research

Stocks to Consider

A few better-ranked stocks are Eni SpA (E - Free Report) , OMV AG (OMVJF - Free Report) and Renesola Ltd. (SOL - Free Report) . While Eni SpA flaunts a Zacks Rank #1, the other two carry a Zacks Rank #2 (Buy) at present.

Eni SpA’s long-term (three-five years) earnings growth rate is pegged at 20.65%. The Zacks Consensus Estimate for 2021 earnings has moved 24.2% north in the past 60 days.

OMV AG came up with an earnings surprise of 18.11%, on average, in the last four quarters. The Zacks Consensus Estimate for 2021 earnings has moved 12% north in the past 60 days.

Renesola came up with an earnings surprise of 242.5%, on average, in the trailing four quarters. The Zacks Consensus Estimate for 2021 earnings has been revised 50% upward in the past 60 days.

In-Depth Zacks Research for the Tickers Above

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Renesola Ltd. (SOL) - free report >>

Eni SpA (E) - free report >>

Enphase Energy, Inc. (ENPH) - free report >>

OMV AG (OMVJF) - free report >>