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FREMONT, Calif. - Enphase Energy, Inc. (NASDAQ:ENPH), a $5.1 billion market cap company with strong financial health indicators according to InvestingPro, announced today it has started shipping its IQ Battery 5P with increased domestic content from manufacturing facilities in the United States.
The new battery units comply with the recently enacted U.S. federal budget law signed on July 4, which retroactively requires 45% U.S.-sourced materials for solar and battery products starting June 16, 2025, to qualify for federal tax incentives.
According to the company’s press release statement, the domestic content threshold will increase to 50% in 2026 and 55% in 2027. The new IQ Battery 5P units with DOM SKUs are being built to meet not only current requirements but also future thresholds.
The IQ Battery 5P features a modular design with 5 kWh capacity and can be paired with Enphase IQ8 Microinverters. The system allows homeowners to monitor performance and manage their batteries through the Enphase App.
Ken Fong, senior vice president and general manager of the Americas and APAC at Enphase Energy, stated, "We’re pleased to begin U.S. shipments of the IQ Battery 5P with increased domestic content."
Enphase Energy, based in Fremont, California, manufactures microinverter-based solar and battery systems. The company reports it has shipped approximately 81.5 million microinverters, with about 4.8 million Enphase-based systems deployed in over 160 countries.
The increased domestic content in these battery units aims to support American jobs and manufacturing while creating a more resilient domestic supply chain, according to the company’s announcement.
In other recent news, Enphase Energy has been navigating a series of significant developments. RBC Capital Markets raised its price target for the company to $33, acknowledging market share challenges and projecting 2026 revenue at $1.2 billion, which is below consensus expectations. JPMorgan downgraded Enphase from Overweight to Neutral, reducing its price target to $37, citing concerns over solar policy changes impacting the company’s U.S. revenue. Meanwhile, Jefferies cut its price target to $35, expressing concerns about the expiration of the 25D tax credit and its impact on residential solar installations.
Goldman Sachs also downgraded Enphase to Sell, with a new price target of $32, highlighting issues such as supply chain adjustments and margin expectations. Despite these challenges, Enphase has expanded its IQ EV Charger 2 shipments to more European markets, enhancing its product offerings with features like dynamic load balancing and AI-powered optimization. The charger has received E.V. READY certification in France and integrates with the country’s Linky meter. These recent developments reflect the company’s efforts to adapt to changing market dynamics and regulatory environments.
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