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Enphase Energy Strengthens Battery Storage Footprint Globally

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Key Takeaways

  • Enphase shipped 190.9 MWh of IQ Batteries in Q2 2025, up 58.8% from last year.
  • IQ Battery 5P with FlexPhase expands to multiple European markets and Australia.
  • Fourth-gen IQ Battery ships in US as work advances on higher-density fifth-gen model.

Enphase Energy, Inc. ((ENPH - Free Report) ) continues to make significant strides in the global battery storage market, building on its position as one of the leading providers of fully integrated solar-plus-storage solutions. In the second quarter of 2025, the company shipped 190.9 megawatt-hour (MWh) of IQ Batteries, reflecting an impressive 58.8% year-over-year growth. This robust performance highlights the strong demand for Enphase Energy’s battery products.

Enphase Energy currently ships its third-generation IQ Battery 5P to a wide range of global markets, including the United States, Australia, New Zealand, Puerto Rico, Mexico, Canada, the United Kingdom, Italy, France, the Netherlands, Luxembourg, Belgium, Romania and India. The company recently broadened its European footprint by introducing the IQ Battery 5P with FlexPhase for customers in Germany, Austria, Switzerland, Luxembourg, Poland, Spain, Portugal, France, the Netherlands, Belgium, Sweden, Denmark, Greece, Croatia, Slovenia, Romania and Slovakia.

Additionally, in August 2025, the company launched the IQ Battery 5P with FlexPhase for customers in Australia. In June, Enphase Energy began shipments of its fourth-generation IQ Battery systems in the United States, while simultaneously advancing its fifth-generation IQ Battery. The upcoming product is expected to deliver 50% higher energy density along with significant cost reductions, a move that could further enhance ENPH’s competitive edge in the fast-growing battery storage market.

Peers Worth Watching

As the global energy storage market expands rapidly, other clean energy players like Canadian Solar Inc. ((CSIQ - Free Report) ) and Sunrun Inc. ((RUN - Free Report) ) also stand to gain from this market’s growth momentum.

CSIQ is making significant progress in the storage market with its e-STORAGE division. In April 2025, e-STORAGE signed a contract with Colbún, one of Chile's leading power generation companies, to supply a 228 MW/912 MWh Battery Energy Storage System (BESS) for the Diego de Almagro Sur project in Chile's Atacama Region.

On the other hand, Sunrun is one of the largest residential solar energy companies in the United States, which also offers cutting-edge battery storage products. Impressively, in the second quarter of 2025, RUN’s storage attachment rate reached 70%, up from 54% in the prior-year period, indicating growing demand for its storage solutions.

ENPH’s Price Performance, Valuation and Estimates

Shares of ENPH have lost 69.3% in the past year compared with the industry’s 31.7% decline.

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The company’s shares are trading at a premium on a relative basis, with its forward 12-month Price/Sales being 3.17X compared with its industry’s average of 1.23X.

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Image Source: Zacks Investment Research

The Zacks Consensus Estimate for ENPH’s near-term earnings has moved upward in the past 60 days.

Zacks Investment Research
Image Source: Zacks Investment Research

ENPH stock currently carries a Zacks Rank #4 (Sell).

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


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