Enphase Energy, a global energy tech leader, announces Q4 2023 financial results where it posted Q4 2023 revenue of $302.6 million, with a 50.3% non-GAAP gross margin. They shipped 1,595,677 microinverters and 80.7 MW hours of IQ Batteries. In the same quarter, 913,000 microinverters made in the U.S. were sent out, anticipating a global capacity of 7.25 million microinverters per quarter once two U.S. sites reach full production. For Q1 2024, revenue is estimated between $260.0 million to $300.0 million, including 70 to 90 MWh of IQ Batteries. Net IRA benefit is projected between $12.0 to $14.0 million.
Enphase Energy ships record 1.6M Microinverters in Q4
In Q4, Enphase Energy contributed to the domestic market by delivering around 913,000 microinverters manufactured in the United States. (Image Credit: SolarBytes).
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)