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Enphase (ENPH) Initiates Latest IQ8 Microinverters in Belgium
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Enphase Energy, Inc. (ENPH - Free Report) announced that it has started shipping IQ8 Microinverters in Belgium, with peak output AC power of 384 W, to support newer, high-powered solar modules.
The company provides the necessary flexibility for the range of solar modules in the market, helping more homeowners to make the switch to clean, reliable energy.
Significance of IQ8 Microinverters
IQ8 Microinverter will allow for even more customization options for residential energy systems, as its latest series is compatible with powerful solar modules.
With their ability to handle a constant DC current of 14 amperes, IQ8 Microinverters are engineered to optimize energy yield and accommodate higher-powered solar modules by increasing energy harvesting.
The three new microinverters, namely IQ8MC, IQ8AC, and IQ8HC, with peak output power of 330 W, 366 W and 384 W, respectively, are made to work in unison with a wide variety of solar modules up to 560 W DC. Enphase is offering a 25-year limited warranty on these IQ8 Microinverters that were activated in Belgium.
Prospects in Belgium
Apart from IQ Microinverters, the Enphase Energy Systems in Belgium also include IQ Batteries. This comprehensive solution enables households to store energy for future use and avoid the costly grid energy.
In Belgium, homeowners are looking to save money on their energy bills, and priority is given to energy systems that can be monitored remotely.
Growth Prospects
According to a Markets and Mrakets report, the global Microinverters market is valued at $4.9 billion in 2024, and is estimated to reach $14.5 billion by 2029, registering a CAGR of 24.1% during the same period.
Government subsidies, incentives and renewable energy adoption have driven the demand for Microinverters. Also, rising investments in solar energy and technological advancements in solar energy systems are fueling the market’s growth.
Peer Moves
The positive growth projection is expected to benefit other solar companies. These companies have been discussed below.
SolarEdgeTechnologies (SEDG - Free Report) has launched its new high-power, three-phase complementing H1300 Power Optimizer in the United States. During the third quarter of 2023, SolarEdge also introduced the latest version of its market-leading SolarEdge Home Hub and Wave inverters in the United States.
SEDG’s long-term (three-to five-years) earnings growth rate is 18.73%. The Zacks Consensus Estimate for 2024 EPS is pinned at 61 cents.
SunPower Corp. (SPWR - Free Report) has more than a decade of experience in designing, manufacturing and supplying large-scale solar systems. The company has developed the capability to deliver AC panels with factory-integrated microinverters.
SPWR’s long-term earnings growth rate is 7.53%. The Zacks Consensus Estimate for 2024 earnings indicates a year-over-year increase of 42.4%.
Canadian Solar (CSIQ - Free Report) introduced EP Cube Lite in the United States in September 2023 to expand its residential battery storage offerings. EP Cube Lite is a compact and efficient grid-tied energy storage solution of Canadian Solar.
The Zacks Consensus Estimate for CSIQ’s 2024 EPS is pinned at $2.66. It delivered an average earning surprise of 67.9% in the last four quarters.
Price Performance
In the past six months, shares of ENPH have lost 40.9% compared with the industry’s 43.7% decline.
Image: Shutterstock
Enphase (ENPH) Initiates Latest IQ8 Microinverters in Belgium
Enphase Energy, Inc. (ENPH - Free Report) announced that it has started shipping IQ8 Microinverters in Belgium, with peak output AC power of 384 W, to support newer, high-powered solar modules.
The company provides the necessary flexibility for the range of solar modules in the market, helping more homeowners to make the switch to clean, reliable energy.
Significance of IQ8 Microinverters
IQ8 Microinverter will allow for even more customization options for residential energy systems, as its latest series is compatible with powerful solar modules.
With their ability to handle a constant DC current of 14 amperes, IQ8 Microinverters are engineered to optimize energy yield and accommodate higher-powered solar modules by increasing energy harvesting.
The three new microinverters, namely IQ8MC, IQ8AC, and IQ8HC, with peak output power of 330 W, 366 W and 384 W, respectively, are made to work in unison with a wide variety of solar modules up to 560 W DC. Enphase is offering a 25-year limited warranty on these IQ8 Microinverters that were activated in Belgium.
Prospects in Belgium
Apart from IQ Microinverters, the Enphase Energy Systems in Belgium also include IQ Batteries. This comprehensive solution enables households to store energy for future use and avoid the costly grid energy.
In Belgium, homeowners are looking to save money on their energy bills, and priority is given to energy systems that can be monitored remotely.
Growth Prospects
According to a Markets and Mrakets report, the global Microinverters market is valued at $4.9 billion in 2024, and is estimated to reach $14.5 billion by 2029, registering a CAGR of 24.1% during the same period.
Government subsidies, incentives and renewable energy adoption have driven the demand for Microinverters. Also, rising investments in solar energy and technological advancements in solar energy systems are fueling the market’s growth.
Peer Moves
The positive growth projection is expected to benefit other solar companies. These companies have been discussed below.
SolarEdgeTechnologies (SEDG - Free Report) has launched its new high-power, three-phase complementing H1300 Power Optimizer in the United States. During the third quarter of 2023, SolarEdge also introduced the latest version of its market-leading SolarEdge Home Hub and Wave inverters in the United States.
SEDG’s long-term (three-to five-years) earnings growth rate is 18.73%. The Zacks Consensus Estimate for 2024 EPS is pinned at 61 cents.
SunPower Corp. (SPWR - Free Report) has more than a decade of experience in designing, manufacturing and supplying large-scale solar systems. The company has developed the capability to deliver AC panels with factory-integrated microinverters.
SPWR’s long-term earnings growth rate is 7.53%. The Zacks Consensus Estimate for 2024 earnings indicates a year-over-year increase of 42.4%.
Canadian Solar (CSIQ - Free Report) introduced EP Cube Lite in the United States in September 2023 to expand its residential battery storage offerings. EP Cube Lite is a compact and efficient grid-tied energy storage solution of Canadian Solar.
The Zacks Consensus Estimate for CSIQ’s 2024 EPS is pinned at $2.66. It delivered an average earning surprise of 67.9% in the last four quarters.
Price Performance
In the past six months, shares of ENPH have lost 40.9% compared with the industry’s 43.7% decline.
Image Source: Zacks Investment Research
Zacks Rank
The company currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.