Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology
company and the world's leading supplier of microinverter-based
solar and battery systems, announced today expanded deployments of
its NEM 3.0 product solution with the Enphase® Energy System™,
powered by IQ8™ Microinverters, IQ® Batteries, and advanced
software, with installers across California. The Enphase NEM 3.0
solution is focused on helping homeowners maximize their
return-on-investment (ROI) under California's new net billing
tariff and empowering installers to deliver cost-effective and
efficient solar and battery installations tailored to homeowners'
needs.
Under NEM 3.0, the rates for buying and selling energy vary
depending on the time of day and month. The new rules incentivize
homeowners to use solar and battery systems to avoid buying energy
during high utility rate periods, while compensating homeowners for
selling energy during high export rate times. The sophisticated
software built into the Enphase Energy System can be configured to
automatically enable homeowners to self-consume and sell energy at
the appropriate times to create value, while still offering backup
power when the grid fails.
Enphase also offers a new battery system configuration that
enables energy self-consumption and saving modes of operation
without backup capabilities. This new configuration minimizes the
overall system components, reducing upfront costs and making it
faster and easier to install projects.
“Enphase’s NEM 3.0 product solution, which uses a battery system
with less components to achieve optimal savings with solar, has
been instrumental in helping homeowners in California,” said Brad
Montgomery, vice president of strategy and procurement at Empower
Solar. “We’re currently installing hundreds of these systems per
month and have witnessed firsthand the transformative impact of
this technology for home energy optimization.”
“As California transitions to NEM 3.0, homeowners are
increasingly seeking solutions that offer both financial savings
and energy independence,” said Matthew Margolin, CEO of Sunline
Energy. “Enphase’s product suite not only aligns seamlessly with
the regulatory changes but also delivers tangible benefits to
customers, making it a great choice for those looking to harness
the full potential of solar and batteries.”
In addition, Solargraf®, Enphase’s design, proposal, and
permitting software platform, can help installers design systems
that optimize solar and battery capabilities for savings under the
new California solar rules. The updated Solargraf platform offers a
simplified experience for designing and generating system
proposals, configuring battery sizing by leveraging modularity,
building custom consumption profiles, and enhancing system
operations for self-consumption and energy export to help deliver
electricity bill offset and, where applicable, payback from the
utility. Solargraf incorporates the rates provided by the CPUC to
help installers generate more precise customer system designs and
proposals.
“Enphase’s NEM 3.0 product solution is a game-changer for
homeowners looking to save under California’s new, dynamic energy
landscape,” said Joel McClure, chief information officer at
Southwest Sun Solar. “Enphase enables homeowners to optimize energy
usage, significantly reducing electricity bills while enhancing
energy independence. It’s a win-win for customers seeking long-term
value from their solar investments.”
“The Enphase Energy System is designed to cater to the unique
needs of homeowners in California,” said Mehran Sedigh, senior vice
president of sales at Enphase Energy. “Our IQ Batteries smartly
deliver power during critical times, whether it's for backup during
grid outages or to help homeowners maximize their system's
efficiency. By equipping installers with cutting-edge tools and
resources, Enphase continues to spearhead solar adoption, enabling
customers to fully leverage the advantages of renewable
energy.”
Enphase’s software leverages artificial intelligence and machine
learning to manage the complexity of electricity rate structures to
significantly improve value for homeowners. Enphase expects to
introduce an upgrade to its energy management software for its
solar-plus-battery systems in 2024 to support the rapid shift
toward electrification with electric vehicles, heat pumps, and
more.
For more information, please visit the Enphase NEM 3.0 web page,
download the presentation and white paper, and book a free demo of
the Solargraf platform.
About Enphase Energy, Inc.
Enphase Energy, a global energy technology company based in
Fremont, CA, is the world's leading supplier of microinverter-based
solar and battery systems that enable people to harness the sun to
make, use, save, and sell their own power—and control it all with a
smart mobile app. The company revolutionized the solar industry
with its microinverter-based technology and builds all-in-one
solar, battery, and software solutions. Enphase has shipped
approximately 75 million microinverters, and over 4.1 million
Enphase-based systems have been deployed in more than 150
countries. For more information, visit https://enphase.com/.
© 2024 Enphase Energy, Inc. All rights reserved. Enphase Energy,
Enphase, the “e” logo, IQ, IQ8, Solargraf, and certain other marks
listed at https://enphase.com/trademark-usage-guidelines are
trademarks or service marks of Enphase Energy, Inc. Other names are
for informational purposes and may be trademarks of their
respective owners.
Forward-Looking Statements
This press release may contain forward-looking statements,
including statements related to the expected capabilities and
performance of Enphase Energy’s technology and products, including
safety, quality and reliability; the availability and market
adoption of Enphase products; ability of systems to optimize solar
and storage capabilities for maximum savings under the
new California solar rules; the timing of software
upgrades; and benefits of an Enphase Energy System under NEM 3.0.
These forward-looking statements are based on Enphase Energy’s
current expectations and inherently involve significant risks and
uncertainties. Actual results and the timing of events could differ
materially from those contemplated by these forward-looking
statements as a result of such risks and uncertainties including
those risks described in more detail in Enphase Energy’s most
recently filed Quarterly Report on Form 10-Q, Annual Report on Form
10-K, and other documents filed by Enphase Energy from time to time
with the SEC. Enphase Energy undertakes no duty or obligation to
update any forward-looking statements contained in this release as
a result of new information, future events or changes in its
expectations, except as required by law.
Contact:
Enphase Energy press@enphaseenergy.com
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