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ENPHASE ENERGY, INC.

(ENPH)
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Enphase Energy : And GRID Alternatives Renew Partnership Increasing Access To Solar

08/26/2021 | 08:01am EDT

FREMONT, Calif., Aug. 26, 2021 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy management technology company and the world’s leading supplier of microinverter-based solar-plus-storage systems, announced today that it has renewed its partnership with GRID Alternatives, a national nonprofit providing access to clean, affordable, renewable energy, transportation, and jobs to economic and environmental justice communities.

Enphase will continue donating its industry-leading microinverter technology as part of the partnership to help GRID achieve its mission of accelerating a rapid, equitable transition to a world powered by renewable energy. Enphase technology is already powering more than 8,000 homes in low-income communities and communities of color through GRID Alternatives’ ongoing programs. These homes will see an estimated lifetime savings of more than $220 million and help prevent nearly 450,000 tons of greenhouse gas emissions.

"We're pleased to continue our partnership with GRID Alternatives in support of our mission to advance a sustainable future for all," said Badri Kothandaraman, President and CEO of Enphase Energy. "As we transition to a new energy future, it’s our shared responsibility to ensure everyone can participate and no community is left behind."

Enphase has worked with GRID Alternatives as a philanthropic partner since 2010 and as a major national equipment partner since 2012. Enphase employees have volunteered more than 3,000 hours over the past decade, which led to the installation of solar on dozens of low-income homes and community buildings.

“We are thrilled to be continuing our partnership with Enphase,” said Erica Mackie, CEO of GRID Alternatives. “With Enphase’s support and equipment, we’ve been able to build community-powered solutions to advance economic and environmental justice through renewable energy, benefiting families nationwide.”

Nationally, GRID Alternatives has installed more than 30 megawatts of solar power for low-income communities using Enphase microinverters. This work has provided job trainees and volunteers with more than 500,000 hours of solar education and training.

For more information about the impact Enphase has had in collaboration with GRID Alternatives, please visit the GRID Alternatives website.

About Enphase Energy, Inc.
  
Enphase Energy, a global energy technology company, delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one intelligent platform. The Company revolutionized the solar industry with its microinverter-based technology and produces a fully integrated solar-plus-storage solution. Enphase has shipped more than 36 million microinverters, and approximately 1.5 million Enphase-based systems have been deployed in more than 130 countries. For more information, visit https://enphase.com/ and follow the company on Facebook, LinkedIn and Twitter.
  
About GRID Alternatives

GRID Alternatives is a national leader in making clean, affordable solar power and solar jobs accessible to economic and environmental justice communities. Using a unique, people-first model, GRID develops and implements solar projects that serve qualifying households and affordable housing providers, while providing hands-on job training and connections to clean mobility and battery storage incentive programs. GRID has installed solar for more than 20,000 families to-date and helped households and housing providers save $643 million in lifetime electricity costs, while training over 32,000 people. GRID Alternatives has eight regional offices and affiliates serving California, Colorado, the mid-Atlantic region, and Tribal communities nationwide, and serves communities in Nicaragua, Nepal and Mexico. For more information, visit gridalternatives.org.

Forward Looking Statements

This press release may contain forward-looking statements, including statements related to savings on energy costs and the reduction of greenhouse gas emissions. 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 recent Annual Report on Form 10-Q and other documents on file with the SEC and available on the SEC's website at 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:

Andy Newbold
Enphase Energy
Corporate Communications
press@enphaseenergy.com

Kirsten Rumsey
GRID Alternatives
Content and Media Manager
media@gridalternatives.org  


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Source: Enphase Energy, Inc.

2021 GlobeNewswire, Inc., source Press Releases

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Sales 2021 1 335 M - -
Net income 2021 129 M - -
Net cash 2021 417 M - -
P/E ratio 2021 198x
Yield 2021 -
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Badrinarayanan Kothandaraman President, Chief Executive Officer & Director
Eric Branderiz Chief Financial Officer & Executive Vice President
Martin Fornage Chief Technology Officer
Jeff McNeil Chief Operating Officer & Executive VP
Ben Kortlang Independent Director
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