|[August 12, 2014]
Enphase Energy and Vivint Solar Sign Three-Year Strategic Agreement
PETALUMA, Calif. --(Business Wire)--
Enphase Energy (NASDAQ: ENPH) announced today the renewal of its
strategic inverter agreement with an affiliate of Vivint Solar, Inc., a
leading provider of residential solar energy systems in the United
States. The new multi-year agreement expands on the existing
relationship between the two companies.
"The renewal of Enphase's inverter supply agreement with Vivint Solar
strengthens our ongoing strategic relationship," said Jeff Loebbaka,
senior vice president of worldwide sales and field operations at
Enphase. "We believe the winning combination of the Enphase
microinverter-based solar energy management system and Vivint Solar's
innovative consumer-friendly business approach provides a compelling
offering for the U.S. residential rooftop solar sector."
"Enphase Energy is a valued technology partner to Vivint Solar and we
are proud to continue installing its microinverters on residential solar
rooftops," said Jan Newman, vice president of business development at
Vivint Solar designs, installs, monitors and services the system with no
upfront costs to the homeowner. Through a power purchase agreement (PPA)
or solar energy system lease, a homeowner can use the power generated by
a solar photovoltaic system and generally realize savings relative to
the prevailing electric utility provider rates. Vivint Solar currently
operates in Arizona, California,
Jersey and New
Enphase continues to see robust demand for its market-leading
microinverter technology with current and new customers from larger
companies like Vivint Solar to small professional solar installers. The
company has shipped more than 5.7 million microinverters worldwide,
which are installed in 160,000-plus systems, accounting for over 1.2GW
of installed solar generating capacity.
About Vivint Solar
in 2011, Vivint Solar is a leading provider of residential solar
energy systems in the United States. Vivint Solar designs, installs, and
maintains cost-effective solar energy systems. Through a power purchase
agreement or solar energy system lease, a homeowner can use the power
generated by a solar photovoltaic system and generally realize savings
relative to the prevailing electric utility provider rates. For more
information, visit www.vivintsolar.com
or follow @VivintSolar.
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.
This press release contains forward-looking statements of Enphase
Energy, Inc., including, but not limited to, statements related to the
expected benefits of its agreement with Vivint Solar, future demands for
its microinverters, advantages of its technology, and market trends.
These forward-looking statements are based on Enphase'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 provided by Vivint Solar and other risks included under the
captions "Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" in Enphase Energy, Inc.'s
Quarterly Report on Form 10-Q for the quarter ended June 30, 2014, which
is on file with the SEC (News - Alert) and available on the SEC's website at www.sec.gov.
All information set forth in this press release is as of August 12,
2014. Enphase 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.
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