The first shot of Enphase's 2024 commercial strategy was fired in the Asian market.

 

 

 

On March 28th, Enphase announced the start of deliveries of its IQ8P™ microinverters for residential and commercial applications in Thailand and the Philippines.

 

 

 

With the intensification of the global microinverters market implosion, the leading Enphase has lost the soaring majesty of the previous years, market share is declining year by year, profitability is slowing down, and there is an urgent need to expand the track.

 

 

 

Tide Power Intelligence is here to explain Enphase's business map in the past three years.

 

 

 

 

Enphase's sales area in the past three years includes the United States, Canada, Mexico, Europe, Australia, New Zealand, India, Brazil, South Africa, Asia.

 

 

 

According to the shipment volume, Enphase has the highest market share in the local U.S. market, followed by Europe and Australia. The company's revenue share in the U.S. market is on a downward trend due to the entry of other companies into the competition.

 

 

 

Benefiting from product updates and expanding sales regions, Enphase's net profit from 2021 to 2023 is $145 million, $397 million, and $439 million, respectively.

 

 

 

However, last year, due to the industry's overall de-stocking, Enphase shipped 15.53 million units of micro inverters, up only 130,000 units year-on-year; in addition, it shipped 351.6 MWh of IQ battery systems.

 

 

 

 

Due to increased competition in the market, Enphase stepped up its R&D efforts last year, investing a total of approximately $230 million, up 35% year-on-year, to launch the new IQ8P™ microinverter, the lIQ8™ commercial microinverter, and the 208V three-phase inverter for the small commercial market. The company holds approximately 400 patents to date.

 

 

 

Enphase has had a stable sales model over the years, selling primarily to solar distributors, or to select large installers, OEMs, industrial equipment suppliers, solar financing solution providers, or directly to homeowners through online stores.

 

 

 

SolarEdge, Fronius, SMA, Renesola, Generac, Tesla, Huawei, Delta, Jinlang Technology, Sunpower, Arrow Energy, and Womai are listed by the company as competitors in the inverter market.

 

 

 

It is worth mentioning that Aero Energy listed Enphase as a competitor before listing, the strength of which can be seen.

 

 

 

Enphase has expanded its business through a series of acquisitions in the past three years, and owns platforms such as design and proposal software, licensing services, predictive software, etc. It has accelerated the promotion of the solar household storage system integrating micro inverters, storage batteries, and electric vehicle charging piles. Tesla, SolarEdge, LG Chem, Sonnen, Generac, Panasonic, BYD, E3/DC, Senec, Schneider, Briggs & Stratton are listed as its competitors in the energy storage market.

 

Translated with DeepL.com (free version)