Investors in this ground-breaking technology include Rockport Capital Partners, Third Point Ventures and Applied Ventures, the venture capital arm of solar equipment manufacturer Applied Materials.
Enphase Energy's CEO Paul Nahi said the company raised money earlier than expected due to strong demand for its microinverters.
So what are these microinverters?
The Enphase Micro-inverter shifts DC to AC conversion from a large, centralized inverter to a compact unit attached directly to each solar module in the power system.
Distributing the conversion process to each module makes the entire solar power system more productive, reliable, and smarter than traditional solar panel inverter systems.
Usually, one single inverter is dedicated to a rooftop array of panels for a homeowner. Enphase Energy, however, have built a DC-to-AC inverter that is placed on each single panel.
This makes it more reliable than a centralized inverter and more efficient, so panels can generate more electricity, Nahi said.
Enphase has already started shipping its microinverters and has tied up deals with several panel distributors and installers.
The future of inverters?
Enphase Energy has been able to improve the DC-to-AC conversion efficiency to around 95%.
Because of this, Nahi predicted more companies will turn to decentralized inverters.
"There's been very little question on the benefits of microinverters, but people didn't think it was possible to get the efficiency levels required," he said.
Now it seems that they have.
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· 10 years ago