Enphase Energy Co., Ltd. ENPH announced that it has begun shipping its IQ8 microinverter with 384 W peak output AC power in Belgium to support new high-power solar modules.
The company provides the flexibility needed for a variety of solar modules on the market, helping more homeowners switch to clean and reliable energy.
IQ8 Importance of Microinverter
IQ8 microinverters enable even more customization options for home energy systems, as the latest series is compatible with powerful solar modules.
Capable of handling 14 amps of constant DC current, the IQ8 microinverter is designed to optimize energy yield by increasing energy harvesting and support higher output solar modules.
The three new microinverters, namely IQ8MC, IQ8AC, and IQ8HC, are made to work with various solar modules up to 560 W DC, with peak output powers of 330 W, 366 W, and 384 W, respectively. I am. Enphase offers a 25-year limited warranty on these his IQ8 microinverters activated in Belgium.
Belgian prospects
Apart from IQ microinverters, Belgium’s Enphase Energy Systems also includes IQ batteries. This comprehensive solution allows households to store energy for future use and avoid expensive grid energy.
In Belgium, homeowners looking to save on energy bills are prioritizing energy systems that can be monitored remotely.
growth prospects
According to a report by Markets and Mrakets, the global microinverter market was valued at $4.9 billion in 2024 and is estimated to reach $14.5 billion by 2029, registering a CAGR of 24.1% over the same period. Masu.
Government subsidies, incentives, and the introduction of renewable energy are increasing the demand for microinverters. Also, increasing investments in solar energy and technological advancements in solar energy systems are also driving the market growth.
Peer movement
This positive growth forecast is expected to benefit other solar companies as well. These companies are discussed below.
solar edge technologies SEDG has launched a new high-power three-phase complementary H1300 power optimizer in the United States. During the third quarter of 2023, SolarEdge also introduced the latest versions of its market-leading SolarEdge home hubs and wave inverters in the United States.
SEDG’s long-term (3-5 years) earnings growth rate is 18.73%. The Zacks Consensus Estimate for 2024 EPS is pegged at 61 cents.
Sunpower Co., Ltd. SPWR has over 10 years of experience in designing, manufacturing and supplying large-scale solar power systems. The company has developed the ability to offer AC panels with factory-integrated microinverters.
SPWR’s long-term earnings growth rate is 7.53%. The Zacks Consensus Estimate for 2024 earnings indicates a year-over-year increase of 42.4%.
canadian solar CSIQ introduced EP Cube Lite in the US in September 2023 to expand its home battery storage products. EP Cube Lite is Canadian Solar’s compact and efficient grid-connected energy storage solution.
CSIQ’s Zacks Consensus Estimate for 2024 EPS is pegged at $2.66. It has delivered an impressive return of 67.9% over the last four quarters, on average.
price performance
Over the past six months, ENPH stock has declined 40.9%, compared to an industry decline of 43.7%.
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Zacks Rank
The company currently carries a Zacks Rank #3 (Hold).You can view You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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