The company has shipped 1,731,768 microinverters, which generated 730 MW of DC power in the third quarter of 2024. (Image Source: SOLARbytes)
US-based Enphase Energy, Inc., has announced its financial results for the third quarter of 2024. Enphase Energy has reported $380.9 million in revenue for the third quarter of 2024, a notable increase from $303.5 million in the second quarter. Enphase also reported a non-GAAP gross margin of 48.1%, improving from 47.1% in Q2 2024. During the third quarter, the company shipped approximately 1,731,768 microinverters, providing around 730 MW of DC power, and 172.9 MWh of IQ Batteries, including its third-generation IQ Battery 5P. The company also began shipping IQ8HC Microinverters with higher domestic content from US manufacturing facilities. Looking ahead for the fourth quarter of 2024, Enphase estimates revenue between $360 million and $400 million, while targeting a gross margin between 47.0% and 50.0%.
The solar project is projected to generate 295 GWh annually, contributing to the Philippines’ target of 35% renewable energy by 2030. (Image Credit/Source: Succo/Pixabay)
The Caucasus region will benefit from Astronergy’s cutting-edge photovoltaic technologies via Photomate. (Image Credit/Source: Linkedin/Photomate Eurasia)
The solar project supports Synopsys’ science-based targets of reducing scope 1 and 2 GHG emissions by 55% by 2032. (Image Credit/Source: MRganso/Pixabay)
BayWa r.e.’s solar portfolio supports tax revenue and renewable energy growth in key US markets. (Image Source: Bawya-re)