Enphase expands virtual power plant capabilities across Europe

FREMONT - Enphase Energy, Inc. (NASDAQ:ENPH), a profitable energy technology company with $1.48 billion in revenue over the last twelve months, announced expanded support for virtual power plants (VPPs) across Europe with new grid management features and enhanced smart home integration capabilities, according to a press release issued Monday. According to InvestingPro analysis, the company appears undervalued based on its Fair Value model.

The company has introduced one-minute data streaming for real-time energy monitoring, on-demand system maintenance data access, home solar curtailment capabilities, and integrated control of heat pumps and electric vehicle chargers through its VPP API when paired with the Enphase IQ Energy Router.

Over the past year, Enphase has increased its VPP presence in Europe tenfold, with thousands of homes in the Netherlands, Germany, United Kingdom, and Belgium now connecting their Enphase Energy Systems with IQ Batteries to smart tariff programs. The company maintains a strong financial position with a current ratio of 1.97 and more cash than debt on its balance sheet, positioning it well for continued expansion.

"Virtual power plants are critical to building a resilient, flexible energy future," said Sabbas Daniel, senior vice president of sales at Enphase Energy.

Several European energy partners have commented on the expanded capabilities. Wren White, general manager of residential flexibility at Kraken, stated, "With smarter control and instant data, we can move at grid-speed, deliver greater value to customers, and accelerate the shift to a cleaner, more affordable energy future."

The new features allow for faster response times to grid events, better customer service, and enhanced monitoring capabilities. The solar curtailment function helps stabilize the grid during periods of excess generation or negative electricity prices, while the integration with heat pumps and EV chargers enables shifting energy use to optimal times.

Homeowners with IQ Battery 5Ps and Enphase’s home energy management software can enroll in VPP programs with select energy providers in Europe. While the stock has seen a 66% decline over the past year, InvestingPro data shows strong fundamentals with expected net income growth and a PEG ratio of 0.69, suggesting potential value for investors. Enphase plans to continue expanding its VPP offering throughout Europe this year. For detailed analysis and 12 additional exclusive ProTips about ENPH, visit the comprehensive Pro Research Report on InvestingPro.

In other recent news, Enphase Energy has introduced its IQ Battery 5P with FlexPhase technology to the Indian market, catering to both residential and small commercial customers. This new battery system supports single-phase and three-phase applications, addressing India’s diverse electrical infrastructure needs. Additionally, Enphase has partnered with Essent in the Netherlands to offer financial incentives for customers expanding their solar systems with Enphase IQ Batteries, potentially providing homeowners with up to €122 in monthly compensation. Jefferies has also raised its price target for Enphase Energy to $41 from $36, maintaining a Hold rating, citing an improving outlook in the residential solar industry.

In the United States, Enphase has begun accepting pre-orders for its next-generation IQ EV Charger 2, which will start shipping by November 2025. This smart charger can function independently or integrate with Enphase’s solar and battery systems, offering significant power for both residential and commercial applications. Furthermore, Enphase has unveiled its IQ Bidirectional EV Charger, designed for vehicle-to-home and vehicle-to-grid capabilities, allowing homeowners to use their electric vehicles for home backup power and grid energy sharing. These developments highlight Enphase Energy’s ongoing innovations and strategic partnerships in the renewable energy sector.

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