What Happened?
Shares of home energy technology company Enphase (NASDAQ: ENPH) rose in the morning session after it announced a new partnership with Green Mountain Power (GMP) to launch a home battery lease program in Vermont. The partnership involved Green Mountain Power selecting Enphase to join its home battery lease program. Under the agreement, eligible customers in Vermont were offered a ten-year lease on two IQ Battery 10C systems for $55 per month or a single payment of $5,500. This arrangement provided customers with backup power while also allowing them to share stored energy during peak times. This shared energy supported GMP's 75 MW virtual power plant, the largest of its kind in Vermont, helping to lower costs for all customers and improve grid stability. Enphase also noted a planned 2026 launch for a new bidirectional EV charger.
After the initial pop the shares cooled down to $30.62, down 0.7% from previous close.
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What Is The Market Telling Us
Enphase’s shares are extremely volatile and have had 45 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 7 days ago when the stock gained 5.1% on the news that its CEO, Badrinarayanan Kothandaraman, purchased 10,000 shares of company stock. The total investment was valued at $309,317 and signaled strong confidence from the executive. This purchase followed four other instances of the CEO buying stock over the previous year. Adding to the positive news, Enphase announced that its IQ Battery systems were eligible for a rebate program from San Diego Community Power. The program provided residential customers with rebates up to $350 per kilowatt-hour for new solar-plus-battery installations, which could make the company's products more appealing to consumers and help drive sales.
Enphase is down 57.1% since the beginning of the year, and at $30.62 per share, it is trading 59.9% below its 52-week high of $76.39 from December 2024. Investors who bought $1,000 worth of Enphase’s shares 5 years ago would now be looking at an investment worth $261.24.
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