Yahoo Finance Enphase Energy & Q CELLS Ink Deal to Launch New AC Modules
Enphase Energy, Inc. ENPH and module producer Q CELLS have recently entered into a partnership to develop AC modules (ACM) for the U.S. residential solar market. These modules will be Enphase Energized Q CELLS AC Modules (ACMs) based on seventh-generation Enphase IQ microinverters.
Specialty of the Newest AC Module
The ACM involved in the aforementioned partnership is the first Enphase Energized ACM from Q CELLS to be launched in the market. The ACM would offer a 25-year product warranty and one of the lowest degradation rates in the industry. These modules are powered with Q CELLS’ Q.ANTUM DUO mono-crystalline half-cell technology, combined with proprietary circuitry and 6-busbar cell design.
How Will the Partnership Benefit Enphase?
To reap the benefits of the booming global solar market, Enphase has been collaborating with companies across the globe to expand its distribution network and product quality. Its microinverters have been enjoying solid global demand, as they are easy to install and produce more energy than traditional central inverter photovoltaic (PV) systems. Notably, the recent collaboration with Q CELLS will help Enphase attract more users, going ahead, as customers will benefit from faster installations and reduced operating costs, enabled by the new AC modules.
Other Major Collaborations by Enphase
Per the International Renewable Energy Agency (IRENA), global electricity generation from solar energy is expected to increase to nearly 360 GW per year by 2050 from the current level of 109 GW. Keeping such opportunities in sight, Enphase has been collaborating with companies over the past year for sizeable global expansion.
In April 2020, the company inked a deal with Courant Naturel — a residential solar installer in southwest France — to deliver its IQ 7X microinverters. Through the partnership, Courant Naturel also gained access to 96 cell modules from SunPower SPWR X-Series.
In September 2019, Enphase Energy announced a partnership with Sunrun RUN for supplying its seventh-generation IQ microinverters to the latter for installations at its residential solar projects.
Meanwhile, in July 2019, Enphase extended its manufacturing agreement with Flex Ltd FLEX. The agreement entailed Flex to deliver IQ microinverters and other products manufactured in Mexico to the U.S. market.
Price Performance & Zacks Rank
Enphase Energy’s stock has surged 159.3% in the past year compared with the industry’s growth of 17%.
The company currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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