Enphase sees over 200% year-over-year growth in California during the
third quarter of 2013
PETALUMA, Calif.--(BUSINESS WIRE)--
Enphase
Energy, Inc. (NASDAQ: ENPH), today announced Enphase installations
were up 62 percent during the first three quarters of 2013 compared to
the first three quarters of 2012, based on MW installed in the U.S.
residential market. According to the recently released U.S.
Solar Market Insight™ (SMI) Q3 2013 report from GTM Research and the
Solar Energy Industries Association (SEIA), this outpaces overall U.S.
residential market growth, which was 49 percent during the first three
quarters of 2013 compared to the first three quarters of 2012.
"Our breakthrough solar technology, coupled with our ability to execute
on key business initiatives, has propelled Enphase to become the
dominant inverter technology used on homes in the Americas," said Paul
Nahi, CEO of Enphase. "While solar incentives and markets ebb and flow
in the U.S., the constant is Enphase installation growth."
In the third quarter 2013, Enphase also reported strong business growth
in California, with installed units increasing over 200 percent on a
year-over-year basis. The SMI report shows that California remains the
largest residential solar market in the U.S., with 99MW installed during
the quarter, up 85 percent on a year-over-year basis. In addition,
Enphase continues to see healthy growth in other U.S. residential
markets, such as New Jersey, New York, Maryland, Colorado, Arizona and
other states.
"Based on these numbers, Enphase continues to grow its market share in
the overall U.S. residential market, with a great performance in the
California market," said Kris Sennesael, CFO of Enphase.
Notably, 2013 is likely to be the first time in more than 15 years that
the U.S. installs more solar than world leader Germany, according to SMI
report forecasts. It also forecasts the U.S. residential market for 2013
to be 753MW, growing to 1,031MW in 2014. This is a sequential increase
of 37 percent.
About Enphase Energy, Inc.
Enphase Energy delivers microinverter technology for the solar industry
that increases energy production, simplifies design and installation,
improves system uptime and reliability, reduces fire safety risk and
provides a platform for intelligent energy management. Our
semiconductor-based microinverter system converts energy at the
individual solar module level and brings a systems-based, high
technology approach to solar energy generation. Connect with Enphase on Facebook
and follow us on Twitter.
www.enphase.com
Forward-Looking Statements
This press release may contain forward-looking statements, including
statements related to Enphase Energy's financial performance, market
demands for its products, advantages of its technology and market
trends. These forward-looking statements are based on the company's
current expectations and inherently involve significant risks and
uncertainties. Actual results and the timing of events could differ
materially from those anticipated in such forward-looking statements as
a result of these risks and uncertainties and other risks detailed in
the "Risk Factors" and elsewhere in Enphase Energy's latest Securities
and Exchange Commission filings and reports. Enphase Energy undertakes
no duty or obligation to update any forward-looking statements contained
in this release as a result of new information, future events or changes
in its expectations.
Enphase Energy®, the Enphase logo and other trademarks or service names
are the trademarks of Enphase Energy, Inc.
Enphase Energy
Christine Bennett, +1-707-763-4784
Global
Corporate Communication Manager
pr@enphaseenergy.com
Source: Enphase Energy, Inc.
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