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Enphase (ENPH) Launches Solargarf Software Platform in Brazil
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Enphase Energy, Inc. (ENPH - Free Report) recently launched its cloud-based design and proposal software platform, Solargarf, in Brazil. The solar installers utilize this platform to develop production system proposals and plan documents for residential and commercial clients.
The launch of this platform, already available in the U.S. and Canadian solar markets, should expand ENPH’s footprint in the rapidly growing global solar space.
Importance of Solargarf
The goal of Enphase's all-in-one system design and proposal tool, Solargarf, is to make the end-to-end sales and installation process as simple and quick as possible for solar professionals. With more than 1,000 installers, it has a user-friendly and accurate interface, which has revolutionized the way the company can plan and design solar energy systems.
Through shade reports, built-in bill of materials calculator, autopitch detection, e-signing of contracts and workflow management from any PC, tablet, or mobile device, the platform offers solar installers essential pre-sales client engagement. For post-sale assistance, the virtual site assessment feature helps homeowners apply for permits and receive financing.
ENPH’s Prospects in Global Solar Market
Per the Mordor Intelligence report, the solar energy market is estimated to be at 1166.23 GW by the end of 2023. It is projected to reach 2122.21 GW in the next five years, registering a CAGR of 15% during the forecast period.
To this end, it is imperative to mention that as a leading U.S. manufacturer of microinverters, First Solar shipped approximately 63 million units as of Mar 31, 2023. The company also enjoys a valuable position in the solar market by manufacturing fully integrated energy storage solutions. As of Mar 31, 2023, it had shipped 917.5 megawatt-hour (MWh) of IQ Batteries and is on the path to launch its third-generation battery.
Considering the abounding growth prospects offered by the global solar market and the latest developments, including Solargarf’s supply announcement, we expect ENPH to tap the due benefits.
Peer Moves
Apart from Enphase, other prominent players like Canadian Solar Inc. (CSIQ - Free Report) , First Solar Inc. (FSLR - Free Report) and Emeren Group Ltd. (SOL - Free Report) are also expanding their solar footprint globally.
Canadian Solar delivered 6.1 gigawatts (GW) of solar modules in first-quarter 2023, and the figure is expected to total 30-35 GW in 2023. During the quarter, it delivered 2.7 gigawatt-hour (GWh) of battery storage units. In June 2023, CSIQ announced that it is building a solar photovoltaic module manufacturing plant in Texas with a capacity of 5 GW.
The Zacks Consensus Estimate for CSIQ’s 2023 sales implies a rise of 24.4% over 2022’s reported figure. It delivered a trailing four-quarter earnings surprise of 106.28%, on average.
First Solar produced 2.36 GW of Series 6 and 170 megawatt (MW) of Series 7 solar modules in first-quarter 2023. The company aims to expand its manufacturing capacity by 11GW by 2025, with expansions planned in India, Ohio and Alabama. Recently, FSLR inked an agreement with Energix Renewables to supply them with 5 gigawatts-direct current of its ultra-low-carbon thin-film solar modules.
The Zacks Consensus Estimate for First Solar’s 2023 sales implies a rise of 33.4% over 2022’s reported figure. Its shares have witnessed an improvement of 180.2% in the past year.
Emeren Group had more than 3 GW mid-to-late stage project pipeline and 6.2 GWh storage pipeline as of Mar 31, 2023. Europe, China and North America are the major markets for SOL. In June 2023, it collaborated with Matrix Renewables to develop up to 1.5 GW of a portfolio of Battery Energy Storage Systems in Italy.
The Zacks Consensus Estimate for SOL’s 2023 sales implies a rise of 97% over 2022’s reported figure. It delivered a trailing four-quarter earnings surprise of 31.25%.
Price Performance
Over the past month, shares of ENPH have gained 10.6% compared with the industry’s 8.6% increase.
Image: Bigstock
Enphase (ENPH) Launches Solargarf Software Platform in Brazil
Enphase Energy, Inc. (ENPH - Free Report) recently launched its cloud-based design and proposal software platform, Solargarf, in Brazil. The solar installers utilize this platform to develop production system proposals and plan documents for residential and commercial clients.
The launch of this platform, already available in the U.S. and Canadian solar markets, should expand ENPH’s footprint in the rapidly growing global solar space.
Importance of Solargarf
The goal of Enphase's all-in-one system design and proposal tool, Solargarf, is to make the end-to-end sales and installation process as simple and quick as possible for solar professionals. With more than 1,000 installers, it has a user-friendly and accurate interface, which has revolutionized the way the company can plan and design solar energy systems.
Through shade reports, built-in bill of materials calculator, autopitch detection, e-signing of contracts and workflow management from any PC, tablet, or mobile device, the platform offers solar installers essential pre-sales client engagement. For post-sale assistance, the virtual site assessment feature helps homeowners apply for permits and receive financing.
ENPH’s Prospects in Global Solar Market
Per the Mordor Intelligence report, the solar energy market is estimated to be at 1166.23 GW by the end of 2023. It is projected to reach 2122.21 GW in the next five years, registering a CAGR of 15% during the forecast period.
To this end, it is imperative to mention that as a leading U.S. manufacturer of microinverters, First Solar shipped approximately 63 million units as of Mar 31, 2023. The company also enjoys a valuable position in the solar market by manufacturing fully integrated energy storage solutions. As of Mar 31, 2023, it had shipped 917.5 megawatt-hour (MWh) of IQ Batteries and is on the path to launch its third-generation battery.
Considering the abounding growth prospects offered by the global solar market and the latest developments, including Solargarf’s supply announcement, we expect ENPH to tap the due benefits.
Peer Moves
Apart from Enphase, other prominent players like Canadian Solar Inc. (CSIQ - Free Report) , First Solar Inc. (FSLR - Free Report) and Emeren Group Ltd. (SOL - Free Report) are also expanding their solar footprint globally.
Canadian Solar delivered 6.1 gigawatts (GW) of solar modules in first-quarter 2023, and the figure is expected to total 30-35 GW in 2023. During the quarter, it delivered 2.7 gigawatt-hour (GWh) of battery storage units. In June 2023, CSIQ announced that it is building a solar photovoltaic module manufacturing plant in Texas with a capacity of 5 GW.
The Zacks Consensus Estimate for CSIQ’s 2023 sales implies a rise of 24.4% over 2022’s reported figure. It delivered a trailing four-quarter earnings surprise of 106.28%, on average.
First Solar produced 2.36 GW of Series 6 and 170 megawatt (MW) of Series 7 solar modules in first-quarter 2023. The company aims to expand its manufacturing capacity by 11GW by 2025, with expansions planned in India, Ohio and Alabama. Recently, FSLR inked an agreement with Energix Renewables to supply them with 5 gigawatts-direct current of its ultra-low-carbon thin-film solar modules.
The Zacks Consensus Estimate for First Solar’s 2023 sales implies a rise of 33.4% over 2022’s reported figure. Its shares have witnessed an improvement of 180.2% in the past year.
Emeren Group had more than 3 GW mid-to-late stage project pipeline and 6.2 GWh storage pipeline as of Mar 31, 2023. Europe, China and North America are the major markets for SOL. In June 2023, it collaborated with Matrix Renewables to develop up to 1.5 GW of a portfolio of Battery Energy Storage Systems in Italy.
The Zacks Consensus Estimate for SOL’s 2023 sales implies a rise of 97% over 2022’s reported figure. It delivered a trailing four-quarter earnings surprise of 31.25%.
Price Performance
Over the past month, shares of ENPH have gained 10.6% compared with the industry’s 8.6% increase.
Image Source: Zacks Investment Research
Zacks Rank
Enphase currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.