Enphase Energy and GRID Alternatives Renew Collaboration for 2018

April 12, 2018 at 9:00 AM EDT

PETALUMA, Calif., April 12, 2018 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ:ENPH), a global energy technology company and the world's leading supplier of solar microinverters, today announced that it has renewed its commitment to support low-income solar in partnership with GRID Alternatives, the nation's largest nonprofit solar installer. Through donations of its microinverters, Enphase will help GRID Alternatives provide rooftop solar installations and hands-on job training in low-income communities across the United States.

This renewed collaboration is estimated to support 4.3 megawatts (MW) of new capacity serving 1,150 families, offset $40 million in energy costs over the systems' lifetimes, and prevent 82,000 tons of greenhouse gas emissions. The Alegria Apartments in Los Angeles is the most recent affordable housing development to benefit from the partnership. The building's new 35kW solar electric system will free up an estimated $9,000 annually for owner Esperanza Community Housing, helping the nonprofit improve services for its fifteen low-income housing units.

"As GRID's reach and impact have grown over the years, so has Enphase's support, helping more and more communities benefit from solar energy," said Tim Sears, CFO and co-founder of GRID Alternatives. "Our industry partnerships are critical to ensuring that everyone can be part of the clean energy economy."

Enphase Energy has helped GRID Alternatives bring solar power to low-income families and hands-on job training for aspiring solar installers around the country since 2010.

"Our continued partnership with GRID Alternatives aligns with our mission to deliver technology solutions that make clean energy affordable, reliable and accessible to all," said JD Dillon, vice president of marketing of Enphase Energy. "It represents a point of pride that Enphase is able to both drive shareholder value and help the GRID Alternatives team support underserved communities with the latest clean energy innovations."

As part of the formal kick-off of the 2018 partnership between Enphase and GRID Alternatives, on March 29, 2018, a group of Enphase employees joined a team from GRID Alternatives to help install a 2.3 kW solar system on the roof of a home in Sebastopol, Calif. The new system is expected to save the homeowners over $21,000 in electricity costs over the lifetime of the system.

About Enphase Energy, Inc.

Enphase Energy, a global energy technology company, delivers smart, easy-to-use solutions that connect solar generation, storage and management on one intelligent platform. The Company revolutionized solar with its microinverter technology and produces the world's only truly integrated solar plus storage solution. Enphase has shipped over 16 million microinverters, and approximately 739,000 Enphase systems have been deployed in more than 100 countries. For more information, visit https://www.enphase.com  and follow the company on Facebook, LinkedIn and Twitter.

Enphase Energy®, the Enphase logo and other trademarks or service names are the trademarks of Enphase Energy, Inc.

About GRID Alternatives

GRID Alternatives is a national leader in making clean, affordable solar power and solar jobs accessible to low-income communities and communities of color. Using a unique, people-first model, GRID develops and implements solar projects that serve qualifying households and affordable housing providers, while providing hands-on job training. GRID has installed solar for more than 10,000 families to-date and helped households and housing providers save $313 million in lifetime electricity costs, while training over 36,000 people. GRID Alternatives has nine regional offices and affiliates serving California, Colorado, the mid-Atlantic region, and Tribal communities nationwide, and serves communities in Nicaragua, Nepal and Mexico. For more information, visit www.gridalternatives.org.

Forward-Looking Statements

This press release may contain forward-looking statements, including statements related to Enphase Energy's financial performance, market demand for its products, expected performance and advantages of its technology, the expected impacts of Enphase Energy's donations of time and materials on GRID Alternatives and its customers, and market trends. These forward-looking statements are based on the company'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 these risks and uncertainties and other risks detailed in the "Risk Factors" and elsewhere in Enphase Energy's latest Securities and Exchange Commission filings and reports. 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.

Contact: Christian Zdebel, pr@enphaseenergy.com, 484-788-2384

Primary Logo

Source: Enphase Energy, Inc.

News Provided by Acquire Media