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Enphase (ENPH) Unveils Enphase Installer Network in Mexico
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Enphase Energy, Inc.(ENPH - Free Report) recently expanded in Mexico with the launch of the Enphase Installer Network (EIN). The move is in sync with Enphase’s aim to expand its presence globally through its range of products.
Benefits of the EIN
As part of its aim to grow strategically, EIN has been built to provide an outstanding experience to both homeowners and installers. EIN members get a state-of-the-art digital platform that delivers sales leads and self-service tools. Members can also utilize the metrics and analytics to increase business efficiency and drive their bottom line.
Undoubtedly this aids Enphase’s EIN in attracting more members, which in turn enables the company to grow its business and improve its top line. The company is rapidly expanding its EIN network in the local and overseas market. Prior to this development, the company had introduced EIN in Europe in April 2021, and also made successful launches in the United States and Australia in 2020.
Homeowners are increasingly adapting services provided by EIN members. Enphase products, which utilize the most innovative technologies, provide homeowners with a great experience. Homeowners can easily locate an EIN installer in their area using the ‘Find an Installer’ tool available on the Enphase website.
Enphase’s Growth Prospects in Mexico
Mexican solar market provides significant growth opportunities primarily due to increased investment and deployment of solar plants and various government policies favoring the development. According toa report of Mordor Intelligence, the Mexican solar market is poised to witness a CAGR of 8% through 2025.
Considering the boom in the solar market in Mexico, the battery storage market boasts solid growth prospects in the long haul. This, in turn, is likely to boost demand for Enphase’s battery and inverters through its EIN network.
Global Boom in Battery Storage Market
Nations worldwide are rapidly adopting renewable sources of energy for a cleaner environment. In this context, adoption of solar energy has been rapidly gaining momentum owing to its low-cost feature. This has provided a platform of growth for the battery storage system market, as it is directly correlated with the penetration of renewable energy.
According to a report from Markets and Markets firm, the global battery storage system market is projected to reach $12.1 billion by 2025at a CAGR of 32.8%.
To reap the benefits of the robust growth in the battery storage market, other solar players namely SolarEdge Technologies (SEDG - Free Report) , SunRun (RUN - Free Report) and Canadian Solar (CSIQ - Free Report) are increasingly deploying capital in this space.
SolarEdge’s StorEdge battery storage system helps meet energy demands with less or cheaper electricity. The company recently strengthened its presence in the United States by launching its SolarEdge Energy Bank residential battery.
The long-term earnings growth rate of SolarEdge stands at 17.69%. Shares of SEDG have gained 27.1% in the past six months.
SunRun’s Brightbox solar battery storage system comes with top-notch innovation in lithium-ion battery technology. The company is one of the prominent battery storage companies in the United States.
SunRun delivered an earnings surprise of 120% in the last reported quarter. The company’s Zacks Consensus Estimate for 2021 sales indicates an improvement of 70.1% over the 2020’s figure.
Canadian Solar is developing one of the largest battery storage project pipelines in the world. As of Sep 30, 2021, the company had 2.9 gigawatt-hour (GWh) of battery storage projects under construction and 21 GWh of the total storage development pipeline.
Canadian Solar’s long-term earnings growth rate is pegged at 12%. The company’s Zacks Consensus Estimate for 2021 sales suggests growth of 52.3% over the 2020 figure.
Price Movement
In the past one year, shares of Enphase have gained 33.1%, against the industry’s decline of 20.7%.
Image: Bigstock
Enphase (ENPH) Unveils Enphase Installer Network in Mexico
Enphase Energy, Inc.(ENPH - Free Report) recently expanded in Mexico with the launch of the Enphase Installer Network (EIN). The move is in sync with Enphase’s aim to expand its presence globally through its range of products.
Benefits of the EIN
As part of its aim to grow strategically, EIN has been built to provide an outstanding experience to both homeowners and installers. EIN members get a state-of-the-art digital platform that delivers sales leads and self-service tools. Members can also utilize the metrics and analytics to increase business efficiency and drive their bottom line.
Undoubtedly this aids Enphase’s EIN in attracting more members, which in turn enables the company to grow its business and improve its top line. The company is rapidly expanding its EIN network in the local and overseas market. Prior to this development, the company had introduced EIN in Europe in April 2021, and also made successful launches in the United States and Australia in 2020.
Homeowners are increasingly adapting services provided by EIN members. Enphase products, which utilize the most innovative technologies, provide homeowners with a great experience. Homeowners can easily locate an EIN installer in their area using the ‘Find an Installer’ tool available on the Enphase website.
Enphase’s Growth Prospects in Mexico
Mexican solar market provides significant growth opportunities primarily due to increased investment and deployment of solar plants and various government policies favoring the development. According toa report of Mordor Intelligence, the Mexican solar market is poised to witness a CAGR of 8% through 2025.
Considering the boom in the solar market in Mexico, the battery storage market boasts solid growth prospects in the long haul. This, in turn, is likely to boost demand for Enphase’s battery and inverters through its EIN network.
Global Boom in Battery Storage Market
Nations worldwide are rapidly adopting renewable sources of energy for a cleaner environment. In this context, adoption of solar energy has been rapidly gaining momentum owing to its low-cost feature. This has provided a platform of growth for the battery storage system market, as it is directly correlated with the penetration of renewable energy.
According to a report from Markets and Markets firm, the global battery storage system market is projected to reach $12.1 billion by 2025at a CAGR of 32.8%.
To reap the benefits of the robust growth in the battery storage market, other solar players namely SolarEdge Technologies (SEDG - Free Report) , SunRun (RUN - Free Report) and Canadian Solar (CSIQ - Free Report) are increasingly deploying capital in this space.
SolarEdge’s StorEdge battery storage system helps meet energy demands with less or cheaper electricity. The company recently strengthened its presence in the United States by launching its SolarEdge Energy Bank residential battery.
The long-term earnings growth rate of SolarEdge stands at 17.69%. Shares of SEDG have gained 27.1% in the past six months.
SunRun’s Brightbox solar battery storage system comes with top-notch innovation in lithium-ion battery technology. The company is one of the prominent battery storage companies in the United States.
SunRun delivered an earnings surprise of 120% in the last reported quarter. The company’s Zacks Consensus Estimate for 2021 sales indicates an improvement of 70.1% over the 2020’s figure.
Canadian Solar is developing one of the largest battery storage project pipelines in the world. As of Sep 30, 2021, the company had 2.9 gigawatt-hour (GWh) of battery storage projects under construction and 21 GWh of the total storage development pipeline.
Canadian Solar’s long-term earnings growth rate is pegged at 12%. The company’s Zacks Consensus Estimate for 2021 sales suggests growth of 52.3% over the 2020 figure.
Price Movement
In the past one year, shares of Enphase have gained 33.1%, against the industry’s decline of 20.7%.
Zacks Rank
Enphase currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.