The leading supplier of solar microinverters globally Enphase recently released its financial results for the first quarter of 2017.
The company’s total revenue for the first quarter was $54.8 million US ( Australian $7.4 million) with the company exiting the quarter with a total cash balance of $30.0 million.
During the first quarter of 2017, Enphase sold approximately 138MW (AC) or 573,000 microinverters, which is a win for solar energy globally.
The company’s gross margin was lower than anticipated because of a decreased revenue volume.
“Our revenue for the first quarter was lower than expected due to the extraordinarily wet winter in California, where we have a significant presence,” said Paul Nahi, president and CEO of Enphase Energy.
Enphase Solar Microinverters: The year that has been
“We started shipping our Enphase Home Energy Solution with IQ™, our sixth-generation integrated solar, storage and energy management offering, in the U.S. at the end of the first quarter.”
This new energy solution promises to be an all-round win for consumers and installers alike. Quick to install and promising 97% Microinverter efficiency they hope this whole home solution which includes the Q 6+ Microinverter and the IQ Envoy will help to bolster their second quarter.
“We look forward to the U.S. launch of our integrated AC solar modules, developed with our partners, during the second quarter. These modules, which we believe are the future of rooftop solar, will include our sixth-generation microinverters, creating a simpler and more consolidated solution”Paul saying.
Emphases local availability
Enphase Energy, a global energy technology company, delivers smart, easy-to-use solutions that connect solar generation, storage and management on one intelligent platform.
Worldwide Enphase has sold 14 Million Inveters and 620,000 Enphase systems that have been sold in over 100 countries.
Energy Matters stocks Enphase products that are available for purchase now. There are energy solutions whether you are a business, a commercial enterprise or need products for a residential dwelling.
Enphase also provides batteries to help transform your energy set up. Enphase AC batteries provide advanced safety and an easy online interface to help to monitor your energy. More information on Energy Matters battery solutions can be found here.
