Deal sees the U.S. microinverter specialist license its marketing, sales and manufacturing rights to Flextronics, one of the world’s largest global electronics manufacturers and a longstanding partner of Enphase.
The U.S. microinverter manufacturer reported a lower than expected revenue in the latest quarter, with shipments decreasing slightly year-on-year. The company, however, was able to strenghten its cash position after implementing a restructuring plan in the previous quarters.
Latest market data from analysts shows that Huawei shipped the most inverters last year, followed by Sungrow, while SMA, Huawei and SolarEdge pulled in the most revenue worldwide.
As loans increasingly replace third party solar as the dominant business model for residential solar, the landscape of loan providers is also growing more diverse.
The Enphase IQ microinverter is around 30% lighter than previous iterations and will serve to usher in Enphase Energized AC Modules to the U.S. residential solar sector.
The company appears to be making progress with its restructuring, as it continues to launch increasingly sophisticated home energy solutions.
SEC filing outlines proposed changes, described by company CEO Paul Nahi as “necessary to create path to sustained profitability”. Restructuring will cost estimated $2 million and follows announcement last year of staff losses.
The struggling microinverter manufacturer, which has posted quarterly losses in every quarter since Q3 2015, received a $10 million bailout from two institutional investors.
Solar microinverters and power optimizer suppliers are embracing off-the-shelf integrated solar AC and smart modules as landscape for the MLPE sector evolves and grows, according to an IHS Markit analysis.
We bring you interviews with Sonnen, Enphase and Ideal Power from the SPI 2016 trade show
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