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Enphase Energy - Power To The People!

TJ Roberts profile picture
TJ Roberts


  • Centralized energy monopolies are threatened by the rising tide of decentralized energy resources available to the people.
  • Utilities are moving toward renewables to maintain their energy monopoly.
  • Cheap solar hardware prices and energy company bureaucracies are getting more people to make the jump to solar PV and energy storage.
  • Enphase Energy is helping spread decentralized solar PV and energy storage at a blistering pace.
  • Do not let the monopolies kill residential solar or the electric vehicle (again).

People are being awakened to new alternatives to the long-standing, well-established, centralized energy monopoly, and with this awakening, new emerging markets like residential solar PV and energy storage, are threatening the 100-year-old energy monopoly. Social media like Twitter, FaceBook, and YouTube are accelerating the adoption of new ideas and technologies more quickly than ever before. And political populism is in the air - people know that the monopolies are trying to wrangle power from them, literally, and the nascent residential solar PV and energy storage markets are gaining momentum.

Enphase Energy (NASDAQ:ENPH), a pillar in the residential solar PV market, and preferred by installers, is rescuing homeowners, allowing them to escape their energy company's "plantation". Enphase Energy's technology is the epitome of decentralized power and

what residential solar photovoltaics ((PV)) is all about. Solar PV and energy storage systems are mini-utilities which allow residential homeowners, apartment complexes, small businesses, et cetera, to have their "own" energy, and with the advent of residential energy storage, a "real" alternative to the energy monopoly is being exposed.

Nevertheless, investors in the residential solar PV and energy storage markets need to be aware that in the upcoming election in their specific state, there may be questions on the ballot which affect the longevity of residential solar PV and energy storage. Bureaucracy can either set a level playing field between the utilities and residential PV owners, or it can set a rigged field thereby giving the utilities the upper hand. For example, an amendment question sponsored by the energy monopolies, which is appearing on the ballot in Florida this November, aims to undermine solar. If you are not with the sponsors of this amendment, then the only correct answer is a resounding "No", for although many people may not

This article was written by

TJ Roberts profile picture
I've written research articles on Enphase Energy (ENPH), Alpha & Omega Semiconductor (AOSL), Amprius (AMPX), Enovix (ENVX), Equitrans Midstream (ETRN), FTC Solar (FTCI), Katapult (KPLT), and Profound Medical (PROF).  Enphase has been by far my most successful endeavor, and their energy systems are the best in terms of reliability, safety, performance and longevity.  My articles on Amprius and Enovix spotlight an incredibly bright future for these battery companies that could offer a huge return for investors.  My article on Lease-to-Own company, Katapult (KPLT), discusses a beat-down company that is starting to show signs of life with 2023 being their pivotal year.  My article on Equitrans Midstream (ETRN) discusses the highly political Mountain Valley Pipeline.  Please enjoy my articles, and as always, do your own due diligence.  Good luck!

Analyst’s Disclosure: I am/we are long "ENPH". I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (121)

Penny stock
whitehead1 profile picture
Thank you for providing useful information.
Good to now they have very good product.
question for investor is whether or not this company be profitable and make money for stock hordes? So far you would have lost big chunks of your investment if you would have invested any money in this company.
I don't have much time to comment but after reading this article and some of the comments it is clear to me that none, if not most of you do not have any experience in the actual solar installation and/or solar industry. Ask any installer and they will tell you Enphase is the "game changer", the best micro inverter on the market and they continue to get better. It is amazing to me what little people know about this technology but understandably which is why they listen to my professional opinion. With hundreds of installations I've personally have sold, designed and installed over the years Enphase has consistently out performed them all. Their online monitoring is the best of the market which is what you'd expect from an industry leader. Yes, you will hear from others that Solar Edge is better but the reality is that it is just cheaper. Our SE arrays have never outperformed our Enphase arrays. In fact some of our SE arrays have actually performed worse than our installations with just string inverters.
I do not and have not held any position with Enphase or SE but just thought I'd share my thoughts.
$1.07 -- lets see if it continues in the same direction Monday? At least I did not pick up any AMZN in the past couple weeks.
Just a little micro inverter delivery. http://tinyurl.com/huw...
WallStPirate profile picture
I have read many articles here is a good endorsement from a company who will ultimately be the real front line seller ( they control the consumer ):


I have no position yet but as I do more dd the battery system really looks excellent. Hoping for a good cc. At $1.00 it is a real possible three bagger on good news. I am liking the risk reward.
Just another large install completed yesterday of Enphase Battery http://tinyurl.com/h9a...
sonnycoates profile picture
I'm an $ENPH shareholder, that said- that $ENPH battery install seems so complex in comparison to ONE 14Kwh Tesla Powerall 2.0... dunno
jesus7 profile picture
It's pretty much the same just x?, agree that larger capacities would be preferable(for some); thinking with the emergency loan they wanted to maximise their electronics discount/volume/ and simplicity in understanding generational performance data.

Surely soon, they will add a 2x 4x etc..
TJ Roberts profile picture
Not complex, just duplicative! Think Modularity, 100% fault-tolerance, scalability. A single central string inverter is simple, too, compared to multiple micro inverters, but micro inverters offer reliability and fault-tolerance. Still, if people have the money, getting a garage full of these batboys is a killer backup system.
evjohn profile picture
We are very "real", we all spend our hard earned money on solar which will pay us back over time. Who really wants to pay a utility bill for the rest of their life when you can invest in a solar system (having virtually no maintenance) and start getting money back into your pocket as soon as you turn it on, instead of having a utility company dipping into your pocket indefinitely. Power to the people, times are changing.
TJ Roberts profile picture
[instead of having a utility company dipping into your pocket indefinitely] YES! I have an article coming out that sheds light on not only the facade of NV Energy and Berkshire Hathaway Energy Company, but on entities like Crescent Dunes where our DoE funded 737-million, but the owners listed are now 3 huge international companies — SolarReserve LLC, ACS Cobra, and Banco Satander — http://tinyurl.com/nrk... ==> http://tinyurl.com/hum...
"I would really like to know if there's not a problem with LG Chem's Battery". It seems from reading these posts I presume from Installers that their Battery is not discharging or charging as they specify or claim that it will. http://tinyurl.com/z3v...
sonnycoates profile picture
$SEDG is getting merked... good correction. Hopefully we correct as well.. back to $3-4 per
sonnycoates profile picture
Verrryyy speculative play for me... Nov 1 is do or die. We're testing the "D-List" on the reg...
TJ Roberts profile picture
A lot of people have bashed Enphase, but if you look at the whole residential solar PV sector, it's depressed. One real good piece of news I recently read was a GTM article on the new president of the utility regulators organization, Travis Kuvalla. Travis Kuvalla, has an ideology which favors laissez-faire capitalism, not crony capitalism. Mr. Kuvalla sees the energy "monopoly industry laden with perverse incentives to over-invest in capital on the part of the utility", and he is "very skeptical of this type of corporate behavior that results from a cost-of-service regulatory monopoly"; he understands the 2 types of republicanism colliding - "one which is more likely to side with incumbent monopolies" and the other that is "more likely to side with open markets"; the new president of the utility regulators favors the latter which is a godsend for the residential solar PV industry. The electric car was already killed once by the oil monopolies and their collusions with our government having an oilman in the WH. We run the same risk of the EV being killed again if the utilities get their way with demand-charge fees, grid-connect fees, etc. Mr. Kuvalla seems to understand the issues at hand, so cross your fingers. What happened in Nevada, Arizona must stop. The utilities are using anti-competitive bureaucracies and are in bed with the government. In Florida on November 8th, the utility monopolies are trying to get an amendment passed which would give them a blank check to kill residential solar; using their $30M deep pockets and the MSM propaganda machine. These are some of the major issues affecting residential solar PV, and Enphase.
riverside1993 profile picture

The BEV died 100 years ago because it couldn't compete. It still can't; it's more expensive, has less range, less flexibility, and is too cumbersome to refuel. The only thing propping it up is government subsidies and government mandates.
jesus7 profile picture
Not really that speculative; at these levels.

Not that do or die. Kinda like britney spears, when she was down n out ;)

Reviewing the pop on the previous quarterlies, be patient sometimes it takes a couple days to really pop.
ESP equity research profile picture
Fair enough - just don't get catch up in TJ - this author's hype he appears to be married to this one stock....Could be a good short term speculative trade...
Here what Tom Sedgwick had to say about Enphase on August 30th you can find it en Enphase Australia and New Zealand Facebook pag.

5starIt's simply the best solar system available in Australia. Online monitoring, remote updates of firmware, safe, battery ready, panel level control. Highly recommended.

Tom Sedfwick is Solaray Energ's marketing manager and is Enphase largest Installer in Australia" Solaray has a slew of products to choose from. Here you can ck out their website http://solaray.com.au

PureGen is another one. http://tinyurl.com/j3n...
TJ Roberts profile picture
PureGen finally backs a home storage product for our Solar clients. A safe and simple solution with a great warranty, that maximises solar self consumption and lowers overall cost of your energy.

ESP equity research profile picture
ENPH has some good IP, but it has been unable to manufacture and sell for a profit. This stock is very speculative, with a good change of going bankrupt - please review ENPH past earnings and balance sheet.

Better buys in the solar place - FSLR, CSIQ, JKS, SEDG, JASO IMHO....
WallStPirate profile picture
Thanks, I saw their financials and also that they needed to do a raise too.

What intrigues me is the large order from Australia and USA coming online.

From doing some simple DD I read a few articles about them and the fact that they have a complete system for only 10k battery and redundant power backup. Thinking they could sell a lot of them and what about Europe.

I am not an investor in this space more tech, bio and real estate but the price seems cheap and could be a good short term trade. Just watching now on thi sone and also WATT which I really hope is legit tech.
Energy Solutions,

The reason they haven't been profitable they've spent their profits on R&D around $50 Million in 2015. According to Raghu Belur, a founder, Enphase spent $100 Million and 4 years towards the 5th Generation bi-directional micro-inverter to be used in the now battery storage system where they've said they have 70,000 preorders in Australia alone more than double their earlier projections. Enphase spent double what SEDG did in 2014 & 2015 in R&D. In fact I think it's more than double, I have to agree with TJ on what he says about Enphase. Enphase is an innovator, why in the world would you suggest to anyone to buy a commoditized module manufacturer for?

That money's been spent and now they will reap the reward but they'll be on a tight budget. I think is the reason they did the Offering was to be able to cover the manufacturing costs with Eliiy Power on battery packs and the needed final assembly from Flextronic to bring to market the Battery as well as the Evoy S. The larger the quantity the better the price (reduced costs in manufacturing) is going to be.
ESP equity research profile picture
I agree with you - I think ENPH is an innovator, and their R&D spend is impressive, but look at the financials - you should be spending $$ including R&D within your cash flow like SEDG has done. SEDG has over 60 patents, with another 100 in review. 3-4 full time staff just doing R&D and staying within their positive free cash flow - as an investor thats what counts.

ENPH doing an equity raise at a SP that is at an all time low is a sign of desperation - But I am rooting for ENPH - I am not a short. I would love to see ENPH back over $10 a share!
WallStPirate profile picture
Thank you both I now believe I did understand the net metering issue.

One other question regarding the battery.

How long can it supply a regular 3 br home for regardless of season just an avg.

At first blush it does look like the Enphase is selling for pretty much their ip value and then maybe still cheap, but I know nothing about solar in general so I could be all wrong.

Thanks again.

this video explains some of what you're asking about http://tinyurl.com/gmc...

Enphase battery can be retrofitted with any panel installation. That's one of the beauties of the system plus it has the safest battery chemistry lithium ion phosphate no thermal runway and a longer life cycle with more DoD than others. Plus 1 person can install 5 batteries in an 1.5 hrs. With Tesla's 1 Battery installation you are looking at an install time of 5 hrs using 2 electricians and could be longer if the wall can not carry that weight the wall will need to be rebuilt to support it. A lot of batteries out there but Enphase makes sense.
ESP equity research profile picture
Solar + storage(battery) for a house works like this - during 10/11am thru 4pmish - the rooftop solar array in the summer will probably be producing more energy than your home consumes - so then the energy goes back to the grid. The battle is in some states - they don;t want to give you full credit for this net-metered energy.

So to avoid netting back to the grid - you install batteries(DC) so that extra energy gets stored and not passed back to the grid. Then after 4pm - when solar production starts to fade - your battery will provide energy for your home. For more info on this net-metering battle look at article from yesterday:


As for the presidential race - I really don't think it matters in the long run - these economic decision around tax cred, solar, etc - will be made by congress not POTUS. Trump has stated he loves coal - I can figure that one out, so short term the solar stocks will take a hit if he wins - that would be a buying op IMHO...
WallStPirate profile picture
TJ etal, I seek the true experts here.

What could be any political ramifications regarding the presidency, congress in terms of rebates, tax credits, gov cash subsidizing or grants that could impact sales of any of their products or solar in general?

Can their battery product be use don other companies inverters / panels?

Lastly i am confused regarding the battery, does it actually store power and allow the house to be run off it or does it release the power back to the grid?


Good luck to all ENPH investors gambling on this $50 mil market cap penny stock. I don't own it, but I hope it works our great for you. Just be aware this writer is an obvious shill. The language of this article is marketing language, not investing language.
jesus7 profile picture
TJ is rumored to have a solar brewery in his house ;)

Loves his solar, I like my profets :p

Thanks for the dumping, you absolutely must look at the balance sheet, review recent news, ponder energy infrastructure outflows world wide and under Hillary. Additionally please visit the enphase website, its as if Milton Hershey designed it himself.

Not your average down out stock here.

I have nothing against the stock. Don't know enough about it to have a strong opinion one way or another.

I was curious and took a quick look at the chart and the financials. The chart is obviously a disaster. The financials are OK -- OK margins, not too much debt, etc -- but the gamble here is on growth and the financials don't tell you how much business they are going to do next year.

To restate my point, I wish the investors in this stock well. I hope it goes back to $15. But this article should not be used to make that evaluation. It is marketing material, not a serious assessment of the company and its prospects. It should be marked as advertising, not an investment opinion.
Giofis I bought at the low i researched it and like you said most bozos go straight to the financials and their brain cease to work past that. GL to U 2
Stock price is in a daily downward spiral. I am a new investor with little knowledge of the market. I invested since the systems were going up all around my town. ENPH is beating me up daily with no bottom in sight.
TJ Roberts profile picture
Conference call Nov 1st @ 430pm EST is going to be Enlightening! It's going to be a bumpy ride this quarter, and possibly even 4th qtr, but a lot of activity is happening in the Enphase camp. AC modules being released end of Q1/Q2 timeframe by LG and SolarWorld; new IQ6/6+ microinverters being released Q1; AC battery sales in Hawaii and US for Q1 with heavy battery sales revenue hitting the books for Q4. By Q4, the OpEx reduction should be behind them. Then you have NEC 2017 bureaucracy which favors Enphase, as well as other bureaucracies favoring solar PV + energy storage.
jesus7 profile picture
It's a hft milking algo, designed to depress you into selling.. Majority holder wants more, quick up and slow steady down.
I hope you are right TJ Roberts. I hope the Enphase Camp comes out with some good news. If it gets any bumpier we are going to hit the runway.

I came close to clicking the sell button two days ago at 1.11. Like a drunken gambler my finger hit the purchase button. Soon I may seek help and go back to the relative safety of a Mutual Fund, or buy that annuity my financial planner has been pushing. Probably going back without my ENPH Stock money. With the $ lost on this stock in the past month, I could have funded a nice trip to Vegas.
sonnycoates profile picture
Yeah, yeah, yeah.....while it's really heartwarming that everyone here is slapping each other on the back, only the Nov. 1 earnings call will reveal if $ENPH is headed in the right direction. Everything else is just feel good speculation / propaganda (which, I really hope is correct🔆)
No feel good to what I wrote Just what I frigging read. Why no media release of these batteries that caught fire, ha? No slapping backs here from me. This is a game with shorts and it's not a smart one at this level, extremely stupid.
jesus7 profile picture
Exploded battery was a Chinese brand GROWATT LITHIUM ION.


Lint to reneweconomy.com Australian home battery fire chinese:


EnPhase battery is

‘Safer • No high voltage DC in system •Cells safety-tested and certified by TÜV Rheinland • Prismatic cells are highly stable over time and offer Greater Reliability • Lithium iron phosphate (LFP) chemistry for long cycle life • 10-year warranty • Modular design promotes redundancy’

Link to EnPhase battery spec sheet:
TJ Roberts profile picture
That is powerful news. I think Enphase's AC Battery product is going to be a surprise with future rev's getting even more powerful; people can get a few now, then add more to their farm later — the Enphase Way!! Enphase will do for batteries what they did for solar panels. 2017 is going to be their year!
I was reviewing accredidation guidelines in Australia and read an Installation Company for Solar and Energy Storage was attempting to test Energy batteries delivered to them and they caught fire resulting in $25,000 of damage to the enrgy storage systems.

Enphase uses safe Lithium ion phosphate LifePo4 Chemistry battery packs from Eliiy Power with no thermal runway, just saying.
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