Global Leader in International Renewable Industry News

posted in:

Enphase installations outpacing U.S. residential solar growth in 2013

Wednesday, Dec 18, 2013

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.

“While solar incentives and markets ebb and flow in the U.S., the constant is Enphase installation growth.”

“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.

Source: Business Wire

posted in:

Other Renewable News

Canadian Solar to supply 43MW of solar modules in Japan 23-04-2014
Nice-Pak products and PDI complete largest Rooftop solar array in Rockland County 22-04-2014
Renewable Energy Group achieves one billion gallon milestone 22-04-2014
KYOCERA invests in solar projects valued at $38M with U.S. Light Energy 22-04-2014
InterGen announces agreement with IEnova for the purchase of 50 percent of the first phase of the EnergĂ­a Sierra Juarez wind project 22-04-2014
Southern Company subsidiary and Turner Renewable Energy strengthen renewable portfolio by closing on second California solar plant 22-04-2014
SunEdison closes on 20 MW Adobe Solar plant 22-04-2014
Everblue awarded IREC Training Program Accreditation for solar installer and sales courses 21-04-2014
JinkoSolar files 2013 annual report on Form 20-F 21-04-2014
Trina Solar announces grid connection for 23.8 MW PV projects in UK 18-04-2014