Enphase Energy and Vivint Solar Renew Inverter Solution Agreement
Vivint Solar chooses Enphase as 2013 inverter supplier
PETALUMA, Calif. -- April 03, 2013
Enphase Energy (Nasdaq: ENPH) today announced the renewal of its relationship
with Vivint Solar, Inc. to be their inverter solution for 2013. Vivint Solar
is an affiliate of Vivint Inc., a leading provider of home technology services
in North America.
“We are delighted to continue building off our powerful strategic relationship
with Vivint Solar. For over a year-and-a-half, our advanced inverter
technology, coupled with Vivint Solar’s unique go-to-market, has helped
accelerate them toward their goal of becoming the top U.S. installer of
residential rooftop solar systems,” said Jeff Loebbaka, senior vice president
of worldwide sales and field operations of Enphase Energy.
Vivint Solar customers save money on energy through a power purchase agreement
(PPA) in which customers agree to buy the power generated by a solar
photovoltaic system installed on their home, at rates that are generally lower
than their local utility. In exchange, Vivint Solar designs, installs,
operates and maintains the system with no additional out-of-pocket costs for
the customers. This business model provides homeowners the benefits of
renewable solar energy without a large, upfront investment.
“We are focused on nationwide expansion of our affordable solar offering, and
we adopted Enphase early on because of the value their inverter solution
delivers,” said Dan Rock, vice president of installs of Vivint Solar. “Enphase
inverters provide flexibility to Vivint Solar’s installation crews and provide
Vivint Solar’s customers with more efficient solar energy systems, resulting
in enhanced savings to our customers.”
Vivint Solar currently operates in California, Hawaii, Maryland,
Massachusetts, New Jersey, New York, and Washington D.C. For more information
on Vivint Solar’s products and services, visit www.vivintsolar.com.
The Enphase Microinverter System offers a revolutionary new approach to the
installation, operation and maintenance of solar energy systems. Enphase
Microinverters, the Envoy Communications Gateway and Enlighten web-based
monitoring and analysis software work together to deliver increased energy
harvest and unparalleled solar system intelligence. To date, Enphase has
shipped over 3 million microinverters and is selling into ten countries across
Europe, North America and Asia Pacific.
Vivint is a leading provider of home technology services in North America.
Vivint’s technology-based platform integrates a wide range of wireless
features and components that deliver simple, affordable home security, energy
management, home automation, and solar solutions. In 2011, Vivint's Home
Automation package and Advanced Security package received a Consumers Digest
"Best Buy" rating. Dedicated to protecting families, increasing energy
efficiency, and simplifying lives, Vivint has more than 13 years of experience
and supports over 700,000 customers throughout the United States and Canada.
For more information, visit www.vivint.com.
About Vivint Solar
Vivint Solar is a leading provider of simple, affordable solar solutions and
one of the fastest growing residential solar power providers in North America.
As an early adopter of the power purchase agreement (PPA) model, Vivint Solar
designs, installs, and maintains cost-effective solar energy systems, allowing
consumers to enjoy the benefits of solar with little to no up-front costs. The
company is dedicated to providing superior service and support while helping
consumers save money, gain energy independence, and go green. For more
information, visit www.vivintsolar.com.
About Enphase Energy, Inc.
Enphase Energy delivers microinverter 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. Our semiconductor-based
microinverter system converts energy at the individual solar module level and
brings a systems-based, high technology approach to solar energy generation.
Connect with Enphase on Facebook and follow us on Twitter. www.enphase.com
This press release contains forward-looking statements, including, but not
limited to, statements related to market demands for Enphase Energy’s
microinverters, advantages of its technology, market trends and future
financial performance. These forward-looking statements are based on the
company’s current expectations and inherently involve significant risks and
uncertainties. Enphase Energy’s 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, which include, without limitation,
risks related to: the future demands for solar energy solutions; the
reduction, elimination or expiration of government subsidies and economic
incentives for on-grid solar electricity applications; the company’s ability
to achieve broad market acceptance of its microinverter systems and to develop
new and enhanced products in response to customer demands and rapid market and
technological changes in the solar industry; the success of competing solar
solutions that are or become available; the company’s ability to effectively
manage the growth of its organization and to maintain or achieve anticipated
product quality, product performance and cost metrics; competition; general
economic conditions; and other risks detailed in the “Risk Factors” and
elsewhere in Enphase Energy’s Securities and Exchange Commission filings and
reports, including its Annual Report on Form 10-K for the year ended December
31, 2012. 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.
Enphase Energy®, the Enphase logo and other trademarks or service names are
the trademarks of Enphase Energy, Inc.
Kady Cooper, +1-707-763-4784
Industry Public Relations Manager
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