Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology
company and the world's leading supplier of microinverter-based
solar and battery systems, announced today that it is expanding its
support for virtual power plants (VPPs) through grid services
programs across the United States powered by the new IQ® Battery
5P. Grid services help utility companies avoid using electricity
from expensive, polluting power plants when electricity demand is
high. In return, homeowners can receive hundreds to thousands of
dollars from the utilities towards their purchase of an Enphase®
Energy System™ with IQ Battery 5P or as annual incentive payments.
Most recently, homeowners who install Enphase IQ Batteries are
now eligible to enroll in Pacific Gas and Electric’s (PG&E)
Emergency Load Reduction Program (ELRP). Homeowners with IQ
Batteries can also now enroll in Public Service Enterprise Group
(PSEG) Long Island’s Battery Storage Rewards Program and
Connecticut’s Energy Storage Solutions Program.
PG&E Emergency Load Reduction Program
California homeowners in PG&E territory who install Enphase
IQ Batteries and enroll in the program will earn $2 per
kilowatt-hour from PG&E for using the electricity stored in
their IQ Batteries to help reduce demand on the grid during peak
load periods. The ELRP demand response events are scheduled to
occur during hot summer days between May and October, and last from
one to five hours between 4pm and 9pm. Between 20 and 60 event
hours will be scheduled during each ELRP “season,” with homeowners
expecting to earn between $100 to $250 per year. Learn more about
the program on the Enphase website.
PSEG Long Island’s Battery Storage Rewards
Program
Currently, Long Island homeowners who install Enphase IQ
Batteries and enroll in PSEG Long Island’s Battery Storage Rewards
program will receive an upfront incentive from installers of
Enphase products of at least $250 per kilowatt-hour of useable
battery capacity with a cap of $6,250 per household. For example,
homeowners with two IQ Battery 5Ps offering 10 kilowatt-hours of
useable capacity will receive an upfront discount of $2,500 from
their Enphase installer as part of the program. Low-to-moderate
income homeowners may be eligible for a larger $400 per
kilowatt-hour discount or $4,000 for installing two IQ Battery 5Ps
with 10 kilowatt-hours of useable capacity. In return for the
upfront incentive, participating homeowners agree to let PSEG Long
Island use the electricity stored in their batteries to help reduce
demand on the grid during peak load periods about 10 times per
year. The power sharing would occur automatically, and participants
would keep the functionality of their IQ Batteries, including
backup power. Learn more about the program on the Enphase
website.
Connecticut Energy Storage Solutions
Program
Connecticut homeowners who install Enphase IQ Batteries and are
electric customers of United Illuminating or Eversource Energy are
eligible to enroll in the Energy Storage Solutions program.
Enrolled homeowners currently receive an upfront incentive from the
Connecticut Green Bank of at least $250 per kilowatt-hour of
useable battery capacity with a cap of $16,000 per project, or 50
percent of the battery plus installation cost (whichever is
lowest). For example, homeowners with two IQ Battery 5Ps offering
10 kilowatt-hours of useable capacity will receive an upfront
incentive of at least $2,500 from the program. Underserved
communities, lower-income households, and “grid edge” customers
(homeowners in areas with more frequent or longer grid outages) may
qualify for an even larger incentive of between $450 - $900 per
kilowatt-hour of useable battery capacity. In addition, the upfront
incentive can be coupled with seasonal performance incentives from
United Illuminating or Eversource of up to $200 per kilowatt each
summer and $25 per kilowatt each winter for sharing the electricity
stored in the homeowner’s IQ Batteries to help reduce demand on the
grid during peak load periods. Learn more about the program on the
Enphase website.
“Home solar and batteries can play an essential role in
maintaining grid operations and keeping electricity costs down for
everyone,” said Aaron Nitzkin, executive vice president of solar at
Citadel Roofing and Solar, an installer of Enphase products with
operations in California. “Enphase plays a key role in the clean
energy future thanks to its reliable, high-performance, and safe
home energy technology that’s outfitting more and more homes across
California.”
“Grid services programs unlock more value for homeowners with
batteries, which expand access to this critical technology,”
said Michael Catizone, president and
co-founder at Long Island Power Solutions, a leading
solar installation company in New York. “As electrification
increases and demand on the grid grows, we’re excited to expand
deployments of IQ Batteries to support powering homes and a more
resilient energy future for the community at large.”
“Every homeowner deserves an Enphase home battery system, and
grid services programs help to make the technology more accessible
for our customers,” said Alex Yackery, co-founder of Venture Solar,
an installer of Enphase products with operations in Connecticut.
“Our customers benefit from reliable power using Enphase IQ
Batteries, and now they can maximize the value of their system and
create a more reliable grid overall.”
“Grid services are an essential part of the clean energy
future,” said Mehran Sedigh, vice president and general manager of
the storage business unit at Enphase Energy. “We designed our
industry-leading software and hardware to make participating in
these programs easier than ever for homeowners. The new IQ Battery
5P is at the center of everything, offering industry-leading power,
resilience, and value for homeowners across the United States.”
For more information about grid services, please visit the
Enphase website.
About Enphase Energy, Inc.
Enphase Energy, Inc., a global energy technology company based
in Fremont, CA, is the world's leading supplier of
microinverter-based solar and battery systems that enable people to
harness the sun to make, use, save, and sell their own power—and
control it all with a smart mobile app. The company revolutionized
the solar industry with its microinverter-based technology and
builds all-in-one solar, battery, and software solutions. Enphase
has shipped approximately 72 million microinverters, and
approximately 3.8 million Enphase-based systems have been deployed
in over 145 countries. For more information,
visit https://www.enphase.com and follow the company
on Facebook, LinkedIn and X (formerly
Twitter).
©2023 Enphase Energy, Inc. All rights reserved. Enphase, the “e”
logo, IQ8, IQ and certain other marks listed at
https://enphase.com/trademark-usage-guidelines are trademarks of
Enphase Energy, Inc. in the U.S. and other countries. Other names
are for informational purposes and may be trademarks of their
respective owners.
Forward-Looking Statements
This press release may contain forward-looking statements,
including statements related to the expected capabilities and
performance of Enphase Energy’s technology and products, including
safety, quality and reliability; the availability and market
adoption of Enphase products; Enphase’s ability to expand its
support for VPPs; and expectations of incentives under the various
programs. These forward-looking statements are based on Enphase’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 certain risks and uncertainties,
including those risks described in more detail in Enphase’s most
recently filed Quarterly Report on Form 10-Q for the quarter ended
Sept. 30, 2023, its Annual Report on Form 10-K for the year ended
December 31, 2022 and other documents on file with the SEC from
time to time, which are available on the SEC’s website
at https://www.sec.gov/. 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, except as required by law.
Contact:
Enphase Energypress@enphaseenergy.com
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