Enphase Energy Inc

ENPH: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$93.00	Bswl	Xhfjrbdhs

Residential Battery Adoption in Europe Exceeds United States

Brett Castelli

Mar 15, 2023

Rising adoption of residential batteries represents a secular growth driver for our solar inverter coverage, Enphase and SolarEdge. Batteries accounted for approximately 12% and 1% of revenue for Enphase and SolarEdge in 2021, respectively, but we expect this to rise to 21% and 20% in 2026.

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