Enphase Confidently Moves Forward
Enphase Energy has announced strong gross margin expansion in the fourth quarter of 2017. The fourth quarter revenue for 2017 was $79.7 million.
Enphase shipped 221 megawatts DC and 755,000 microinverters. The non-GAAP gross margin was 24.2%, an increase of 240 basis points from 21.8% in the prior quarter. The increase was primarily due to the IQ 6 transition in North America, supply chain optimization and pricing management.
Recently Enphase opened an R&D centre in Bangalore, India to establish a best-in-class technology development centre. India is an important part of Enphase's overall global strategy, as the country is driving the growth in solar with its ambitious targets for clean energy
In addition, Enphase announced the availability of its IQ Combiner+ with the IQ Envoy. The IQ Combiner+ consolidates residential solar interconnection equipment into a single enclosure and streamlines PV and storage installations by providing a consistent, pre-wired solution for residential applications.
Enphase also completed its transition to IQ 6 in North America in 2017, contributing to gross margin expansion. We began shipping IQ 7 microinverters to customers in the U.S. during the first quarter of 2018. IQ 7 will be phased into worldwide markets throughout 2018.
In recent weeks Enphase announced a strategic partnership with Panasonic Corporation of North America for the development of high efficiency AC modules, using our 320W IQ 7X Microinverter which is compatible with 96-cell DC modules.