Enphase Energy, Inc. (NASDAQ: ENPH) saw its shares leap in priceThursday on announcing the latest developments involving its grid network.
The company, a global energy technology company and the world's leading supplier of microinverter-based solar-plus-storage systems, today announced that The Links, South West Rocks, a retirement village in New South Wales, Australia, has selected Enphase IQ 7+™ microinverters to underpin a 1.2 MW private grid network.
The village operator, Sea Spirit Lifestyle Communities, chose Enphase microinverter-based systems for the project because of their ease of installation, design flexibility, smart network connectivity, fire safety, and proven reliability. The initiative by Sea Spirit means it can offer lower energy costs to residents and expect to recover the A$1.3 million cost of deploying the Enphase-based renewable energy microgrid within approximately five years.
Located on Australia’s New South Wales coast, South West Rocks is a popular gated land lease village for retirees seeking a sustainable and comfortable beachside lifestyle community. A key attraction for this carbon-neutral community, which will eventually feature 199 dwellings, is an embedded electricity network in which most residences are fitted with 16 x 370-watt solar panels.
Each solar panel is equipped with an Enphase IQ 7+ microinverter to harvest and share solar energy throughout the village, including common use facilities such as swimming pools, the bowling club and streetlights. Enphase microinverters also enable standardized solar system installation kits for each home and negate the need to find a location on each building for a large string inverter box.
ENPH shares jumped $6.01, or 3.9%, to $159.59.
