Enphase Energy (NASDAQ: ENPH), the world’s leading supplier of micro-inverter based solar and battery systems, announced today that the company has been selected by Canadian-based Green Mountain Power (GMP) for a cutting-edge pilot program. GM will offer Enphase Energy Systems to its customers in a battery lease grid services program. Also, homeowners will be able to enroll in GMP’s new “Bring Your Own Device” grid services program, enabling GMP customers with Enphase systems to earn an immediate incentive through participation.
The leasing program will see 100 eligible customers provided with two Enphase IQ Battery 10 units for $65 per month for 10 years, or equally a single payment of $6,500. This allows homeowners to benefit hugely from trustworthy, consistent backup power, while at the same time giving back stored energy at times of high demand, helping to limit the overall cost for all GMP customers.
Equally, homeowners will also be given the option to purchase a new Enphase Energy System or rather enroll an existing system in GMP’s BYOD program; which will not limit the number of participants and enables customers to earn money with their Enphase IQ Batteries through a one-time upfront incentive. Customers who find themselves eligible are able to sign up and monitor participation through the Enphase App, as well as receive a payment of up to $9,500 along with four Enphase IQ Battery 10s.
Furthermore, the company is officially launching its Grid Services Manager, a distributed energy resource management system used by GMP for the management of virtual power plants with Enphase systems. This product is expected to be offered to utility grid managers in the near future.
Josh Castonguay, VP of Innovation and Engineering at GMP stated:
“We are excited to offer customers another option for storage, as we create a stronger and more resilient energy system…Our storage programs are leading the way, helping to cut carbon and costs for all of our customers. This pilot expands on our innovative work, allowing for more customers to access storage technology.”
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Oliver is a financial writer and analyst specialising in the US stock market, with years of personal experience in understanding micro/macroeconomic structures, market trends and fundamental analysis.