Enphase Energy, Inc.

Overview

Enphase Energy, Inc. is a global energy-technology company founded in 2006. It designs, develops, manufactures, and sells solar and home-energy systems built around semiconductor-based microinverters, with networking and software to manage solar generation, energy storage, control, and communications. Its key products include IQ Microinverters and IQ Batteries, alongside system controllers, EV chargers, gateways, and energy-management software.[1]+3 The company describes its mission as “Advancing a sustainable future for all.” [5]

Enphase serves residential and commercial customers across markets in North America, Europe, Asia-Pacific, Latin America, and the Caribbean. At year-end 2025, it reported more than 5.1 million systems deployed in over 160 countries and approximately 86.4 million microinverters shipped.[6][7] For the year ended December 31, 2025, net revenue was approximately $1.47 billion.[8] [1]+7

Products & services

Enphase’s residential and small-commercial portfolio centers on the Enphase Energy System, combining IQ microinverters, IQ Batteries, IQ Load Controllers and the IQ EV Charger with system monitoring and control. IQ8 microinverters serve residential and small-commercial installations; the IQ8P-3P is rated for 480 W AC peak output and 14 A continuous DC input. Enphase began shipping its IQ9N-3P commercial microinverter in December 2025, designed for three-phase 480Y/277 V systems.[3]+2

Storage products include the modular, 5 kWh IQ Battery 5P, which provides 3.84 kW continuous output, and the fourth-generation IQ Battery 10C, which began shipping in the U.S. in June 2025. Accessories include the IQ Meter Collar for microgrid interconnection and whole-home backup, and the IQ Combiner 6C. The IQ EV Charger 2 supports charging up to 22 kW on three-phase systems and can operate independently or alongside Enphase microinverters and batteries. The IQ Balcony Solar System, launched in Germany and Belgium, uses IQ8HC microinverters and a Balcony Gateway; IQ PowerPack 1500 is a 1,500 Wh portable backup system.[10]+7

Software and services include IQ Energy Management, which forecasts solar generation, household consumption and electricity prices to coordinate energy use, and IQ Energy Router products for compatible EV chargers, water heaters and heat pumps in supported markets. The Enphase platform also provides system design and proposals, permitting and installation support, cloud monitoring, remote software updates and maintenance, and Enphase Care services.[3]+3

Enphase reports aggregate product and service revenue rather than a product-by-product revenue split. In Q2 2026, revenue was $291.9 million; the company reported shipments of approximately 1.59 million microinverters, representing 725.2 MW DC, and 113.8 MWh of IQ Batteries.[20][18] [3]+13

Geographic presence

Enphase Energy’s revenue is concentrated in the United States: it accounted for 81% of net revenue in 2025, compared with 70% in 2024 and 64% in 2023; the remaining 19% in 2025 was generated outside the U.S.[21] The company targets markets in the U.S., Canada, Mexico, Puerto Rico, Europe, Australia, New Zealand, India, Thailand, Central America, the Caribbean and certain Asian countries.[22] In Q2 2026, it reported IQ8 microinverters shipped to 58 countries, with products and battery systems available across a broader set of markets including multiple European countries, Brazil, South Africa, India, Southeast Asia and Australia.[23][24]

At December 31, 2025, Enphase had 2,872 full-time employees: 1,743 in India, 717 in the U.S., 202 in Europe, 133 in New Zealand, 21 each in Australia and China, and 35 in other countries. India accounted for approximately 61% of staff and was a base for R&D, procurement, customer support and other support functions.[25][26] Its leased facilities included the corporate headquarters in Fremont, California, and locations in Boise and Petaluma, California; Austin and Arlington, Texas; Eschborn, Germany; Bengaluru, India; Christchurch, New Zealand; Melbourne, Australia; ’s-Hertogenbosch, the Netherlands; and Puerto Rico.[27]

Manufacturing is geographically distributed: in Q2 2026 the company said it had shifted a significant portion of manufacturing to the U.S. while continuing contract manufacturing in China and India. It also reported sourcing LFP battery cells solely from two vendors based in China.[28] [21]+8

Business segments

Enphase Energy reports one operating and reportable segment, with no separately named segment. Its single business activity is the design, development, manufacture and sale of solutions for the solar photovoltaic industry; this segment therefore represents 100% of consolidated revenue.[29]

The segment’s focus is integrated home-energy systems, including microinverters, batteries, load controllers, EV charging, monitoring and cloud-based energy management.[2][3] Enphase also describes its offerings as a single product line, rather than reporting revenue contributions for separate product segments.[30] [29]+3

Company history

Enphase Energy was founded in California in March 2006 by Raghu Belur and Martin Fornage. In 2008, it launched its first microinverter-based solar system in North America, establishing the product approach at the center of its early business [1]+2. Enphase began trading on the Nasdaq Global Market as ENPH on March 30, 2012 [32][33].

The company expanded into energy storage with its AC Battery announcement in October 2014 [34]. Badri Kothandaraman became president and CEO in September 2017 [35]. Enphase completed its acquisition of SunPower’s microinverter business in August 2018 [36][37].

In October 2021, Enphase announced IQ8, a microinverter designed to form a microgrid [38]. In 2022, it completed acquisitions of electric-vehicle charging company ClipperCreek and energy-management software company GreenCom Networks [39][40]. In June 2025, Enphase began U.S. shipments of its fourth-generation Energy System, which included a new battery, meter collar and combiner [11]. [1]+21

Sources

• Enphase Energy, Inc. — Full financial report (2025 Y)
  20 citations

  [1][2][3][4][6][7][8][9][10][11][12][13][14][18][22][25][26][27][29][30]
• enphase.com[5]
• enphase.com[15]
• enphase.com[16]
• enphase.com[17]
• enphase.com[19]
• Enphase Energy, Inc. — Press release (2026 Q 2)[20]
• www.sec.gov[21]
• Enphase Energy, Inc. — Full financial report (2026 Q 2)
  3 citations

  [23][24][28]
• enphase.com[31]
• Enphase Energy, Inc. — Full financial report (2012 Y)[32]
• ir.nasdaq.com[33]
• newsroom.enphase.com[34]
• newsroom.enphase.com[35]
• Enphase Energy, Inc. — Full financial report (2018 Y)[36]
• investor.enphase.com[37]
• enphaseenergy.gcs-web.com[38]
• investor.enphase.com[39]
• www.nasdaq.com[40]