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 sale of Westbridge’s 75% stake in Sunnynook Solar to METLEN was completed, set to power 50,000 Alberta homes. (Image Source: Pixabay)
Module shipments in Q3 2024 reached 25,910 MW, with N-type modules comprising 90% of all shipments. (Image Source: SOLARbytes)
With revenue growth and a strong order book, AGEL sets its sights on 2025 IPO to strengthen financial resilience. (Image Credit/Source: KindelMedia/Pexels)
Runergy provides insights into ITC’s Section 337 timeline, countering misleading interpretations of its 45-day and 60-day procedural references. (Image Source: Runergy)