Earlier in July, Enphase Energy made a big splash when it started rolling out IQ8 Microinverters from a facility in Columbia, S.C., produced by global manufacturer Flex. This was the first production of Enphase product via contract manufacturing in the United States — a big enough deal that President Biden stopped by to make some remarks.
In its Q2 earnings report released last week, Enphase snuck in news that its second U.S.-based contract manufacturing facility is now online as well.
“We began shipments from our new contract manufacturing partner Foxconn in Mount Pleasant, Wisconsin. We shipped approximately 50,000 units from these two U.S. contract manufacturers in the second quarter of 2023 and realized a net IRA benefit of $1.6 million. The Inflation Reduction Act (IRA) has enabled us to begin manufacturing in the United States, creating new jobs, advancing the country’s clean energy economy, and contributing to the growth of our business.
Enphase leadership also says they remain on track to begin shipments from a third U.S. contract manufacturer in the third quarter of 2023.
Total revenue for the second quarter of 2023 was $711.1 million, compared to $726.0 million in the first quarter of 2023. Our revenue in the United States for the second quarter of 2023 decreased over 12% due to macroeconomic conditions, while our revenue in Europe increased approximately 25%, compared to the first quarter of 2023.
IQ8 Microinverters constituted approximately 78% of all our microinverter shipments during the second quarter of 2023. In addition to the U.S., Enphase is now shipping IQ8 Microinverters into France, the Netherlands, Spain, Portugal, Poland, and Germany.
IQ Battery shipments were 82.3 MWh in the second quarter of 2023, compared to 102.4 megawatt hours in the first quarter of 2023. The IQ Battery 5P is modular and can deliver 3.84 kW continuous power and 7.68 kW peak power. More than 3,500 installers worldwide are certified to install IQ Batteries.
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