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Enphase Energy, Inc. (ENPH) Renews Inverter Solution Agreement With Vivint Solar

|Includes: Enphase Energy Inc. (ENPH)

Enphase Energy, a prominent supplier of home technology services, including a wide range of wireless features and components that deliver simple, affordable home security, energy management, home automation, and solar solutions, announced today that its relationship with Vivint Solar has been renewed for 2013 regarding Enphase's inverter solution. Vivint Solar is an affiliate of Vivint Inc., a leading provider of home technology services in North America.

"We are delighted to continue building off our powerful strategic relationship with Vivint Solar. For over a year-and-a-half, our advanced inverter technology, coupled with Vivint Solar's unique go-to-market, has helped accelerate them toward their goal of becoming the top U.S. installer of residential rooftop solar systems," said Jeff Loebbaka, senior vice president of worldwide sales and field operations of Enphase Energy.

Vivint Solar saves customers money on energy through a power purchase agreement (NYSEARCA:PPA). A PPA stipulates that customers will purchase electricity generated by a solar photovoltaic system installed on their home, at rates that are typically cheaper than their local utility. In exchange for this opportunity to use cheaper electricity, Vivint Solar designs, installs, operates, and maintains the system without any additional cost to customers. This business model gives homeowners access to cheap, renewable solar energy without the large, upfront investment.

"We are focused on nationwide expansion of our affordable solar offering, and we adopted Enphase early on because of the value their inverter solution delivers," said Dan Rock, vice president of installs of Vivint Solar. "Enphase inverters provide flexibility to Vivint Solar's installation crews and provide Vivint Solar's customers with more efficient solar energy systems, resulting in enhanced savings to our customers."

The Enphase Microinverter System, the primary product in the collaboration between Enphase and Vivint, delivers a revolutionary new approach to the installation, operation, and maintenance of photovoltaic systems. Enphase Microinverters, the Envoy Communications Gateway, and Enlighten web-based monitoring and analysis software collaborate to provide increased energy harvest and cutting-edge solar system intelligence. Over the life of the company, Enphase has shipped more than 3 million microinverters and is selling into ten countries across Europe, North America, and Asia Pacific.

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