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Enphase Is Capitalizing On The Booming Home Energy Market (NASDAQ:ENPH)

Enphase Is Capitalizing On The Booming Home Energy Market (NASDAQ:ENPH)

The solar industry has been on fire over the past few quarters. Solar MLPE giant Enphase (ENPH) has been on a particularly solid run and continues to surge upwards. Despite an ongoing pandemic, Enphase has approximately quadrupled in market capitalization since March.

Enphase is an increasingly dominant force in the promising solar MLPE space. The company is also successfully moving into the even larger home energy industry. Enphase is at the forefront of a rapidly changing distributed energy industry and continues to innovate at a rapid rate.

Strong Performance Continues

Enphase continues to be one of the strongest performers in the revitalized solar industry. The company has consistently outperformed expectations, which has contributed to the company stunning rise over the past year. While the company’s Q2 revenue of $125.5 million decreased ~6% Y/Y, this revenue figures still impressive considering the industry-wide impact of COVID-19.

Enphase has transformed from one of the most overlooked solar companies to one of the largest solar companies in the world. The company’s success in the MLPE space, particularly with microinverters, has allowed it to expand its reach far beyond just solar MLPE products. Enphase is now a serious contender in the far larger home energy market.

Enphase has seen its value skyrocket in recent years.

Data by YCharts

Source: YCharts

Expanding Reach

The energy industry is set to undergo dramatic changes in the coming years. The arrival of cost-effective solar PV and energy storage is changing the dynamic of how energy is delivered. The residential market is already starting to transform with the arrival of cost-effective distributed energy.

Enphase is contributing greatly to this transformation with its innovative solar MLPE products. However, the company is now starting to dramatically widen its addressable market by moving into the wider home energy market. The opportunities in the

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