PV MagazineDecember 27, 2019662
Enphase matters. It’s making money, it’s got the good-looking gear, and there might just be an ace up its sleeve. On Dec. 12, the solar company hosted institutional investors and financial analysts at its annual “Analyst Day” presentation.
Much of the presentation was, of course, financial information. The solar company noted that full-year revenue was projected at $619 million in 2019, with operating income at $122 million. These values were up 96% and 495% year on year. The solar company hopes to expand to eight new European countries in 2020, doubling its revenue from the continent within the year.
Based upon a combination of estimates from third parties, Enphase sees the global residential “serviceable available market” (SAM) expanding from $2.5 billion this year, to $4 billion in 2022. When adding in residential storage, small commercial solar panel installations, and off-grid solar+storage, the solar company projects its SAM to grow from $3.3 billion to $12.5 billion by 2022. A recent analysis by Wood Mackenzie Renewables & Power suggested that its products have been an installed with 19% of residential rooftop solar-powered systems this year.
There was much talk regarding the solar company’s Ensemble line, as well as the soon-to-launch IQ8 grid-forming micro-inverter. The full-on Ensemble 2.0 suite includes IQ8 solar power inverters, an Enpower Switch – which sits between the home and the power grid – and the energy storage solution, which is wired directly to the switch. All items are wirelessly connected.
Lastly, the company showed off its “Ensemble in a Box” which allows two solar panels to be connected to a case that includes energy storage, solar power inverters, and plugs to power things. The solar company said the hardware was focused on the Indian market, where energy poverty is a true societal challenge.
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