March 8, 2017
The company cites high reliability, ease of installation and compliance to NEC 2014 and 2017 rapid shut down requirements as drivers for the decision
PETALUMA, Calif. and HOUSTON, Tex.—March 8, 2017—Enphase Energy Inc. (NASDAQ: ENPH), a global energy technology company, and Sunnova Energy Corp., a market leader in residential solar services, today announced an expansion of the companies’ partnership through an agreement making Enphase the preferred provider of inverters for Sunnova.
“Sunnova puts customers first and when searching for an inverter solution, we needed something that would deliver the best energy production with the most efficiency,” said John Berger, Chief Executive Officer at Sunnova. “With Enphase’s microinverters, we see higher solar electricity production compared to other systems. Their low-voltage AC products significantly reduce system design and installation time, and combined with the ability for advanced monitoring and remote system troubleshooting, are expected to further reduce Sunnova’s need for homeowner maintenance visits. We are confident that Enphase products will help us and our partners deliver affordable, reliable and clean solar power to our customers as efficiently as possible.”
“The expansion of our partnership with Sunnova is a great win for both our companies,” said Paul Nahi, President and CEO of Enphase. “This is strong validation of the increased production and lower maintenance costs that Enphase delivers, and a win for the network of Sunnova installers who have special pricing access for Enphase products.”
Sunnova is the largest privately-held residential solar services company in the U.S. with tens of thousands of customers across the U.S., including Puerto Rico, Guam and Saipan. The company has raised nearly $1.5 billion in financing since 2013.
Enphase is the world's leading provider of microinverters, with over 13 million installed in more than 540,000 systems around the world. According to Greentech Media, Enphase makes up over 80 percent of the global microinverter market, a market they predict will double in size (by MWac) from 2016 to 2018.
About Enphase Energy, Inc.
Enphase Energy, a global energy technology company, delivers simple, innovative and reliable energy management solutions that advance the worldwide potential of renewable energy. Enphase has shipped over 13 million microinverters, installed in more than 540,000 Enphase residential and commercial systems deployed in at least 100 countries. Enphase Energy®, the Enphase logo, and other trademarks or service names are the trademarks of Enphase Energy, Inc. For more information, visit enphase.com and follow @enphase on Twitter or find us on Facebook or LinkedIn.
Sunnova is simply a different kind of power company, offering rooftop solar service to homeowners within the United States through its network of local sales and installation partners. Our mission is to change the energy industry by providing low-cost, worry-free solar power that generates long-term savings for customers and continued business growth for partners. For more information, visit www.sunnova.com and follow @Sunnova_Solar on Twitter or connect on Facebook and LinkedIn.
Enphase Forward-Looking Statements
This press release may contain forward-looking statements, including statements related to Enphase Energy's future financial performance, product performance, the timing of availability of new products, and advantages of its technology and market trends. These forward-looking statements are based on the company's current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties and other risks detailed in the "Risk Factors" and elsewhere in Enphase Energy's latest Securities and Exchange Commission filings and reports, including its Quarterly Report on Form 10-Q for the quarter ended September 30, 2016. 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.
Enphase Contact: Christian Zdebel, email: firstname.lastname@example.org Phone: 484-788-2384
Sunnova Contact: Thao Pham, Edelman, email: email@example.com Phone: 713-970-2112