Solar leasers have been deploying module-level electronics for some time, with the additional data and performance it delivers making a good fit for companies such as SolarCity, Vivint and Sungevity. Sunrun will roll out Enphase inverters in some of its systems in a deepening of the relationship between the two companies, with a new strategic supply agreement having been signed.
While Enphase microinverters have gone into some Sunrun arrays in the past, the new deal will see Enphase supply Sunruns direct wholesale business, AEE Solar.
The market-proven, highly reliable Enphase technology will help Sunrun continue to
execute its strategy around installation efficiency and system performance, said Paul
Winnowski, Sunruns COO in a statement. Adding Enphases high-quality solar energy systems to our current product suite enables Sunrun to deliver best-in-class service and long-term savings to our customers. It is a great partnership between two market innovators.
Enphases stock price has not had a happy time of late, having fallen from a high of close to US$18/share a little less than 12 months ago, to around $5.60 this week. While the reason for the decline is not explicitly clear, the expansion of rival SolarEdge in the U.S. market, and in particular with lease providers such as SolarCity, seems likely to have played a role. In light of this, the news of the strengthened relationship between Enphase and Sunrun may allay some market fears about the companys prospects.
Last October at the Solar Power International trade show, Enphase unveiled its AC Battery unit. It is beginning to roll out the AC Battery units in select markets this quarter. Sunrun will likely deploy the AC Battery as a part of its offering, in occasions where a battery will add value to the customer.
We look forward to working together with Sunrun not only as a preferred supplier, but as a partner in delivering intelligent energy solutions, said Paul Nahi, Enphases president and CEO. As the pioneer in providing solar as a service to homeowners, Sunrun recognizes that Enphase offers a smart, differentiated and financially compelling approach to clean energy generation that delivers cash flow savings and excellent system performance over the life of the project.
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