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Enphase (ENPH) Energy System Demand Gains Momentum in Belgium
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Enphase Energy, Inc. (ENPH - Free Report) recently announced that its Enphase Energy System, powered by IQ Microinverters and IQ Batteries, is witnessing increased adoption from customers in Belgium.
With ten years of an established position in the region, such enhanced deployment of its products exemplifies Enphase’s capability to continue to meet the sustainable and reliable energy product requirements of customers in Belgium amid rising energy prices.
Enphase’s Growth Prospects in Belgium
Belgium entails strong growth prospects in the solar market as homeowners fight against energy prices that continue to rise in the region. Further, mounting environmental concerns have boosted the demand for reliable, safe and high-quality solar-based products to minimize reliance on the grid.
Moreover, investments by homeowners in the energy of the future may increase manifold as they hunt for energy independence. Per the reports from Mordor Intelligence, the Belgian solar energy market is likely to witness a CAGR of more than 8% over the 2022-2027 period.
The underlying growth prospects in the Belgium solar market may provide a platform for Enphase to prosper in the market. Buoyed by its strong product portfolio that ensures exceptional performance under all weather conditions, ENPH is likely to benefit.
The recent increased deployment thus entails the bright prospects of Enphase to expand in the region with its capability to continuously evolve its product portfolio per the need of the market.
Global Solar Market Boom
Per the report from Mordor Intelligence, the solar energy market is poised to witness a CAGR of 12.7% during the 2022-2027 period. This exemplifies immense opportunities for solar players in the industry to expand their footprint globally.
Apart from Enphase, other solar players that can enjoy the perks of the expanding global solar market size are SolarEdge Technologies (SEDG - Free Report) , Canadian Solar (CSIQ - Free Report) and ReneSola (SOL - Free Report) .
SolarEdge Technologies’ optimized inverter solutions address a broad range of solar market segments. In the third quarter, the company witnessed record solar revenues, driven by the strong demand for its solar products across all segments and geographies.
SolarEdge registered record revenues in 14 European countries, most notably in Germany, the Netherlands, France and the United Kingdom. The long-term earnings growth rate of SolarEdge stands at 31.8%. Shares of SEDG have risen 18% in the past six months.
Canadian Solar has one of the world’s largest utility-scale solar project development platforms. It caters to a geographically diverse customer base across key markets in the United States, China, Japan, the U.K. and Canada, and emerging markets in Brazil, India, Mexico, Italy, Germany, South Africa and the Middle East.
The Zacks Consensus Estimate for Canadian Solar’s 2022 sales indicates an improvement of 45.9% over the prior-year reported figure. Shares of CSIQ have delivered 25.7% in the past six months.
ReneSola continues to benefit from a steady flow of contracts from domestic and international customers. With the successful execution of its downstream strategy, SOL is currently expanding its business in international markets. It is committed to adding an incremental project pipeline to its core markets, including the United States, the United Kingdom, Spain, Poland, France, Germany and Hungary.
The Zacks Consensus Estimate for 2022 sales suggests a growth rate of 34.2% from the prior-year reported figure. ReneSola shares have increased 7.9% in the past six months.
Price Movement
In the past year, shares of Enphase Energy have risen 18% against the industry’s decline of 12.4%.
Image: Bigstock
Enphase (ENPH) Energy System Demand Gains Momentum in Belgium
Enphase Energy, Inc. (ENPH - Free Report) recently announced that its Enphase Energy System, powered by IQ Microinverters and IQ Batteries, is witnessing increased adoption from customers in Belgium.
With ten years of an established position in the region, such enhanced deployment of its products exemplifies Enphase’s capability to continue to meet the sustainable and reliable energy product requirements of customers in Belgium amid rising energy prices.
Enphase’s Growth Prospects in Belgium
Belgium entails strong growth prospects in the solar market as homeowners fight against energy prices that continue to rise in the region. Further, mounting environmental concerns have boosted the demand for reliable, safe and high-quality solar-based products to minimize reliance on the grid.
Moreover, investments by homeowners in the energy of the future may increase manifold as they hunt for energy independence. Per the reports from Mordor Intelligence, the Belgian solar energy market is likely to witness a CAGR of more than 8% over the 2022-2027 period.
The underlying growth prospects in the Belgium solar market may provide a platform for Enphase to prosper in the market. Buoyed by its strong product portfolio that ensures exceptional performance under all weather conditions, ENPH is likely to benefit.
The recent increased deployment thus entails the bright prospects of Enphase to expand in the region with its capability to continuously evolve its product portfolio per the need of the market.
Global Solar Market Boom
Per the report from Mordor Intelligence, the solar energy market is poised to witness a CAGR of 12.7% during the 2022-2027 period. This exemplifies immense opportunities for solar players in the industry to expand their footprint globally.
Apart from Enphase, other solar players that can enjoy the perks of the expanding global solar market size are SolarEdge Technologies (SEDG - Free Report) , Canadian Solar (CSIQ - Free Report) and ReneSola (SOL - Free Report) .
SolarEdge Technologies’ optimized inverter solutions address a broad range of solar market segments. In the third quarter, the company witnessed record solar revenues, driven by the strong demand for its solar products across all segments and geographies.
SolarEdge registered record revenues in 14 European countries, most notably in Germany, the Netherlands, France and the United Kingdom. The long-term earnings growth rate of SolarEdge stands at 31.8%. Shares of SEDG have risen 18% in the past six months.
Canadian Solar has one of the world’s largest utility-scale solar project development platforms. It caters to a geographically diverse customer base across key markets in the United States, China, Japan, the U.K. and Canada, and emerging markets in Brazil, India, Mexico, Italy, Germany, South Africa and the Middle East.
The Zacks Consensus Estimate for Canadian Solar’s 2022 sales indicates an improvement of 45.9% over the prior-year reported figure. Shares of CSIQ have delivered 25.7% in the past six months.
ReneSola continues to benefit from a steady flow of contracts from domestic and international customers. With the successful execution of its downstream strategy, SOL is currently expanding its business in international markets. It is committed to adding an incremental project pipeline to its core markets, including the United States, the United Kingdom, Spain, Poland, France, Germany and Hungary.
The Zacks Consensus Estimate for 2022 sales suggests a growth rate of 34.2% from the prior-year reported figure. ReneSola shares have increased 7.9% in the past six months.
Price Movement
In the past year, shares of Enphase Energy have risen 18% against the industry’s decline of 12.4%.
Image Source: Zacks Investment Research
Zacks Rank
Enphase Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.