Even with net metering, it is anticipated that batteries will be increasingly added to solar energy systems to reduce grid imbalance and enable dynamic energy contracts, while keeping payback attractive for consumers
FREMONT, Calif., Feb. 14, 2024 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, applauded the Dutch Senate’s decision on Feb. 13, 2024 to provide certainty for the solar energy market in the Netherlands by rejecting a bill that would have phased out net energy metering (NEM). As a result of the decision, existing and new residential solar customers in the Netherlands will maintain access to the current benefits from NEM.
Enphase believes the decision is positive for homeowners and is expected to maintain an average estimated payback of less than five years for solar-only systems, according to data in Enphase’s recently released white paper. It is also important for homeowners to future proof and maximize their solar investment with or without NEM by adding batteries and energy management software. An Enphase solar plus battery system is designed to help homeowners intelligently manage their energy, helping avoid solar export penalties, and enabling support for energy providers through dynamic tariffs and virtual power plants (VPPs) that contribute to the grid imbalance marketplace.
“The Dutch Senate’s decision shows an ongoing commitment to leading the clean energy transition with solar power as front and center,” said Marco Krapels, vice president of international sales at Enphase Energy. “Enphase is committed to helping deliver value to homeowners who want to invest in solar, while also supporting energy providers and grid operators with intelligent battery technology and software to create a cleaner, more reliable and affordable grid for everyone.”
Enphase estimates that homeowners with Enphase’s solar plus battery systems that are participating in dynamic tariffs and VPPs could nearly triple their lifetime savings over 25 years compared to solar-only systems, according to Enphase’s findings. Enphase expects to enable support for dynamic tariffs by the end of the second quarter of 2024 and support for VPPs by the end of 2024.
Enphase recently hosted its “Solar Next” event with more than 800 installers and industry leaders from across the Netherlands to promote a comprehensive solar, battery and software solution for the Dutch market. For more information about the Enphase solution, please visit the Netherlands website.
About Enphase Energy, Inc.
Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 73 million microinverters, and approximately 4.0 million Enphase-based systems have been deployed in more than 150 countries. For more information, visit https://enphase.com/.
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Forward-Looking Statements
This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality and reliability; the benefits of NEM in the Netherlands; expectations regarding the payback period for solar-only homeowners; the ability of solar homeowners to intelligently manager their energy; and potential savings with Enphase solar-plus battery systems. These forward-looking statements are based on Enphase’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphase’s most recently filed Annual Report on Form 10-K for the year ended December 31, 2023 and other documents on file with the SEC from time to time, which are available on the SEC’s website at https://www.sec.gov/. 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, except as required by law.
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