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Investing.com -- Enphase Energy Inc (NASDAQ:ENPH) stock rose 2.8% Thursday after the company announced a new safe harbor agreement with a leading solar financing company, projected to generate nearly $68 million in revenue over 12-24 months beginning in 2026.
The agreement, which is the first of multiple expected with this third-party ownership (TPO) provider, covers Enphase’s IQ9 Microinverters for residential projects. These microinverters will be produced at U.S. manufacturing facilities with shipments expected to begin in the first quarter of 2026.
This marks Enphase’s third safe harbor agreement since the new U.S. federal budget bill was signed into law in July 2025. The company noted that additional revenue is expected from other system components based on customer needs.
"Safe harbor agreements allow developers and financing partners to move quickly and confidently in a shifting policy environment," said Ken Fong, senior vice president of sales at Enphase Energy.
The safe harboring mechanism helps future projects preserve eligibility for both the base investment tax credit and the domestic content bonus credit, reducing risk from potential policy changes. Enphase collaborated with the customer on a customized IQ9 Microinverter designed to meet the federal "physical work test" and support incentive qualification.
Enphase, which describes itself as the world’s leading supplier of microinverter-based solar and battery systems, expects additional financing providers to follow suit in the coming months, potentially expanding its pipeline of TPO safe harbor agreements under the new rules.
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