Enphase Energy (Nasdaq: ENPH) today announced the renewal of its relationship with Vivint Solar, Inc. to be their inverter solution for 2013. Vivint Solar is an affiliate of Vivint Inc., a leading provider of home technology services in North America
Enphase Energy and Vivint Solar Renew Inverter Solution Agreement
Vivint Solar chooses Enphase as 2013 inverter supplier
PETALUMA, Calif., April 3, 2013 -- Enphase Energy (Nasdaq: ENPH) today announced the renewal of its relationship with Vivint Solar, Inc. to be their inverter solution for 2013. 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 customers save money on energy through a power purchase agreement (PPA) in which customers agree to buy the power generated by a solar photovoltaic system installed on their home, at rates that are generally lower than their local utility. In exchange, Vivint Solar designs, installs, operates and maintains the system with no additional out-of-pocket costs for the customers. This business model provides homeowners the benefits of renewable solar energy without a 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."
Vivint Solar currently operates in California, Hawaii, Maryland, Massachusetts, New Jersey, New York, and Washington D.C. For more information on Vivint Solar's products and services, visit www.vivintsolar.com.
The Enphase Microinverter System offers a revolutionary new approach to the installation, operation and maintenance of solar energy systems. Enphase Microinverters, the Envoy Communications Gateway and Enlighten web-based monitoring and analysis software work together to deliver increased energy harvest and unparalleled solar system intelligence. To date, Enphase has shipped over 3 million microinverters and is selling into ten countries across Europe, North America and Asia Pacific.
Vivint is a leading provider of home technology services in North America. Vivint's technology-based platform integrates a wide range of wireless features and components that deliver simple, affordable home security, energy management, home automation, and solar solutions. In 2011, Vivint's Home Automation package and Advanced Security package received a Consumers Digest "Best Buy" rating. Dedicated to protecting families, increasing energy efficiency, and simplifying lives, Vivint has more than 13 years of experience and supports over 700,000 customers throughout the United States and Canada. For more information, visit www.vivint.com.
About Vivint Solar
Vivint Solar is a leading provider of simple, affordable solar solutions and one of the fastest growing residential solar power providers in North America. As an early adopter of the power purchase agreement (PPA) model, Vivint Solar designs, installs, and maintains cost-effective solar energy systems, allowing consumers to enjoy the benefits of solar with little to no up-front costs. The company is dedicated to providing superior service and support while helping consumers save money, gain energy independence, and go green. For more information, visit www.vivintsolar.com.
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. www.enphase.com
Industry Public Relations Manager
This press release contains forward-looking statements, including, but not limited to, statements related to market demands for Enphase Energy's microinverters, advantages of its technology, market trends and future financial performance. These forward-looking statements are based on the company'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; the reduction, elimination or expiration of government subsidies and economic incentives for on-grid solar electricity applications; the company's ability to achieve broad market acceptance of its microinverter systems and to develop new and enhanced products in response to customer demands and rapid market and technological changes in the solar industry; the success of competing solar solutions that are or become available; the company's ability to effectively manage the growth of its organization and to maintain or achieve anticipated product quality, product performance and cost metrics; competition; general economic conditions; and other risks detailed in the "Risk Factors" and elsewhere in Enphase Energy's Securities and Exchange Commission filings and reports, including its Annual Report on Form 10-K for the year ended December 31, 2012. 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.
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