Why Enphase Stock Just Popped
Enphase Energy (NASDAQ: ENPH) doesn't report Q3 earnings until later this month, but that fact isn't holding the stock back this morning. Shares of the solar power microinverter manufacturer were up 3.2% as of 9:40 a.m. EDT on some good news from Down Under.
Enphase announced this morning that an entire community in Australia -- specifically, "The Links, South West Rocks" retirement village in New South Wales -- has elected to install Enphase IQ7+ microinverters "to underpin a 1.2 MW private [solar power] grid network."
According to Enphase, this "carbon-neutral community ... will eventually feature 199 dwellings," most of which will be equipped with "16 x 370-watt solar panels." That sounds like a lot, but in fact, Enphase notes that the total cost of deploying its equipment will be just $950,000.
Source Fool.com
