{"id":85396,"date":"2024-07-25T04:50:47","date_gmt":"2024-07-24T19:20:47","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=85396"},"modified":"2024-07-25T14:55:27","modified_gmt":"2024-07-25T05:25:27","slug":"enphase-q2-results-mb2971","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/enphase-q2-results-mb2971\/","title":{"rendered":"Home Batteries Deliver Enphase A Brighter Quarter, But \u2026"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-85397\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/07\/enphase-results-q2.jpg\" alt=\"Enphase Energy results - Q2 2024\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/07\/enphase-results-q2.jpg 1200w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/07\/enphase-results-q2-300x158.jpg 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/07\/enphase-results-q2-1024x538.jpg 1024w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/07\/enphase-results-q2-768x403.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p>While the second quarter of 2024 was kinder to microinverter, battery and EV charger manufacturer Enphase Energy, revenue was still a far cry from the same period last year.<!--more--><\/p>\n<p><a href=\"https:\/\/www.solarquotes.com.au\/blog\/enphase-iq8-5p-mb2906\/\">Enphase had a pretty rough Q1<\/a>, but CEO Badri Kothandaraman held hopes at the time of a turnaround; believing the company was starting to climb out of \u201cthe bottom\u201d. So, how has that belief held up?<\/p>\n<p><a href=\"https:\/\/investor.enphase.com\/news-releases\/news-release-details\/enphase-energy-reports-financial-results-second-quarter-2024\">Enphase reported<\/a> quarterly revenue of USD $303.5 million for the second quarter of 2024, significantly up on $263.3 million in quarter one, but well down on the $711.1 million in Q2 2023.<\/p>\n<p>During Q2, the company shipped:<\/p>\n<ul>\n<li>1,402,602 microinverters &#8211; similar quantity to Q1.<\/li>\n<li>120.2 megawatt-hours of IQ batteries, compared to 75.5 megawatt- hours in Q1.<\/li>\n<\/ul>\n<p>Figures were not provided for EV charger shipments.<\/p>\n<p>In the United States, revenue for the second quarter increased approximately 32% compared to Q1, but revenue in Europe remained flat. Commenting on the situation in Europe, Mr Kothandaraman said the company was still &#8220;underpenetrated&#8221; in markets such as the UK, Italy, Spain, Belgium, Luxembourg, Switzerland, Austria, Sweden and others.<\/p>\n<p>In terms of Australia, Mr. Kothandaraman said there was &#8220;interest&#8221; in the Enphase Energy System (battery + microinverters + app), but he didn&#8217;t provide an indication of shipments. He mentioned the company will be introducing more products into Australia, including IQ8X microinverters that support high-powered PV modules. When that will happen is anyone&#8217;s guess. After the lengthy <a href=\"https:\/\/www.solarquotes.com.au\/blog\/enphase-iq8-australia-mb2452\/\">delays on the IQ8<\/a> arriving on our shores (now available), I&#8217;ve learned not to ask &#8211; but Mr. Kothandaraman suggested &#8220;later this year&#8221;.<\/p>\n<p>&#8212;<br \/>\n<strong>UPDATE July 25<\/strong>. It seems Mr. Kothandaraman is a bit behind the times. We&#8217;ve been informed by Enphase today that the IQ8X microinverter has been available in the AU market for several weeks, from all the company&#8217;s distribution partners.<br \/>\n&#8212;<\/p>\n<p>Looking at the current quarter, Enphase expects revenue to be within a range of $370.0 million to $410.0 million, and increased shipments again of IQ batteries &#8211; 160 to 180 megawatt-hours. Further ahead, Enphase plans to pilot its fourth generation battery in the US later in the year and begin production in early 2025. Mr. Kothandaraman says it will feature a &#8220;better cost structure&#8221; and a smaller form factor.<\/p>\n<h2>More On Enphase<\/h2>\n<p>Enphase Energy was founded in 2006 in California. By mid-2008, the company had launched the world&#8217;s first microinverters. As the name suggests, <a href=\"https:\/\/www.solarquotes.com.au\/inverters\/micro\/\">microinverters<\/a> are much smaller versions of string <a href=\"https:\/\/www.solarquotes.com.au\/inverters\/\">solar inverters<\/a> most commonly used in home solar installations. Instead of having all panels sending their output to a single large wall-mounted inverter, these paperback sized devices are installed on racking beneath the panels &#8211; usually one per panel; although some microinverters can handle multiple modules.<\/p>\n<p>While bringing microinverters to the world and remaining the leader in the space, <a href=\"https:\/\/www.solarquotes.com.au\/inverters\/enphase-review.html\">Enphase<\/a> isn&#8217;t the only show in town for these devices. Among competitors of note are <a href=\"https:\/\/www.solarquotes.com.au\/inverters\/hoymiles-review.html\">Hoymiles<\/a> and more recently, <a href=\"https:\/\/www.solarquotes.com.au\/blog\/sungrow-microinverters-mb2966\/\">Sungrow&#8217;s microinverter<\/a> &#8211; which was only very recently unveiled and is yet to prove its mettle.<\/p>\n<p>Enphase&#8217;s first effort in home energy storage solutions was the AC Battery, installations of which began in Australia in 2016. A modular system, each battery module provided 1.2 kWh of energy storage and just 260W of continuous power output. Enphase batteries have come a long way since. Its third generation product, the 5P, is another modular system with total usable capacity of 5 kWh and a continuous power rating of 3.84 kW. Further details of the 5P can be found on SolarQuotes&#8217; <a href=\"https:\/\/www.solarquotes.com.au\/battery-storage\/comparison-table\/\">solar battery comparison table.<\/a><\/p>\n<p>Additionally, the company manufacturers home EV chargers &#8211; but we&#8217;re yet to see those available in Australia. Enphase is also still working on a <a href=\"https:\/\/www.solarquotes.com.au\/blog\/enphase-bidirectional-charger-mb2817\/\">bi-directional EV charger<\/a> for <a href=\"https:\/\/www.solarquotes.com.au\/electric-vehicles\/v2l-v2g-v2h\/\">V2H and V2G<\/a> applications.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While the second quarter of 2024 was kinder to microinverter, battery and EV charger manufacturer Enphase Energy, revenue was still a far cry from the same period last year.<\/p>\n","protected":false},"author":17,"featured_media":85397,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-85396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Home Batteries Deliver Enphase A Brighter Quarter, But \u2026<\/title>\n<meta name=\"description\" content=\"Q2 2024 was kinder to microinverter and battery manufacturer Enphase Energy, but revenue was still a far cry from the same period in 2023.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.solarquotes.com.au\/blog\/enphase-q2-results-mb2971\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Home Batteries Deliver Enphase A Brighter Quarter, But \u2026\" \/>\n<meta property=\"og:description\" content=\"Q2 2024 was kinder to microinverter and battery manufacturer Enphase Energy, but revenue was still a far cry from the same period in 2023.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.solarquotes.com.au\/blog\/enphase-q2-results-mb2971\/\" \/>\n<meta property=\"og:site_name\" content=\"SolarQuotes Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SolarQuotes\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-24T19:20:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-25T05:25:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/07\/enphase-results-q2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Michael Bloch\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@solar_quotes\" \/>\n<meta name=\"twitter:site\" content=\"@solar_quotes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/enphase-q2-results-mb2971\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/enphase-q2-results-mb2971\/\"},\"author\":{\"name\":\"Michael Bloch\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#\/schema\/person\/66afd571aa00c2e442f0192ebac2f6f1\"},\"headline\":\"Home Batteries Deliver Enphase A Brighter Quarter, But \u2026\",\"datePublished\":\"2024-07-24T19:20:47+00:00\",\"dateModified\":\"2024-07-25T05:25:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/enphase-q2-results-mb2971\/\"},\"wordCount\":612,\"commentCount\":3,\"publisher\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/enphase-q2-results-mb2971\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/07\/enphase-results-q2.jpg\",\"articleSection\":[\"General Solar &amp; 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