Enphase will begin providing smart solar microinverter systems to
Sunrun's direct installation services business
SAN FRANCISCO and PETALUMA, Calif.—July 28, 2015—Enphase Energy, Inc. (NASDAQ: ENPH), the leading energy management technology company for the solar industry, and Sunrun, the largest dedicated residential solar company in the U.S., have entered into a strategic supply agreement to provide Enphase® solar energy systems to Sunrun for its home solar installation business.
While AEE Solar and Sunrun's network of Certified Partners have long sold and installed Enphase systems, this agreement marks the first time that Enphase will provide its module level power electronics (MLPE) systems to Sunrun's direct installation services business. Enphase will continue to work with Sunrun across its multi-channel platform, strengthening its relationship with Sunrun's wholesale distribution business, AEE Solar, and collaborating on operational efficiency-focused product development with SnapNrack, Sunrun's solar photovoltaic (PV) racking and mounting systems group.
"The market-proven, highly reliable Enphase technology will help Sunrun continue to execute its strategy around installation efficiency and system performance," said Paul Winnowski, chief operating officer of Sunrun. "Adding Enphase's 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."
"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," said Paul Nahi, president and CEO of Enphase Energy. "We look forward to working together with Sunrun not only as a preferred supplier, but as a partner in delivering intelligent energy solutions."
About Enphase Energy
Enphase Energy delivers energy management technology for the solar industry that increases energy production, simplifies design and installation, improves system uptime and reliability, reduces fire safety risk and provides a platform for intelligent energy management. Its semiconductor-based microinverter system converts energy at the individual solar module level and brings a system-based high-technology approach to solar energy generation, storage, control and management. For more information, visit www.enphase.com.
Enphase Energy®, the Enphase logo and other trademarks or service names are the trademarks of Enphase Energy, Inc.
Sunrun pioneered solar as a service, a way for homeowners to go solar without a significant upfront investment, and is the largest dedicated residential solar company in the U.S. Sunrun provides end-to-end service for homeowners to choose clean, solar energy and receive predictable pricing for that solar energy for 20 years. The company designs, installs, finances, insures, monitors and maintains the solar panels on a homeowner's roof, while families pay just for the electricity at a lower rate than they pay their current utility. Since Sunrun introduced solar as a service in 2007, it has become the preferred way for consumers to go solar in the nation's top solar markets. For more information, please visit www.sunrun.com.
This press release may contain forward-looking statements, including statements related to Enphase Energy's financial performance, market demands for its products, advantages of its technology, and market trends. These forward-looking statements are based on the company'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 these risks and uncertainties and other risks detailed in the "Risk Factors" and elsewhere in Enphase Energy's latest Securities and Exchange Commission filings and reports. 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.
Michelle Taylor, 707-763-4784
Impress Labs (for Enphase)
Jason Isberg, 415-829-9784
Ketchum (for Sunrun)
Becky Loya, 415-984-6278
Source: Enphase Energy, Inc.