Enphase reveals U.S. inverter manufacturing prepare for 2023
- Microinverter maker Enphase has announced plans to launch four to 6 manufacturing lines in the United States by the second half of 2023 to capitalize on manufacturing production tax credits in the Inflation Reduction Act (IRA). Microinverters are qualified for up to 11 cents/ WAC in manufacturing tax credits in the IRA.
President and chief executive officer Badri Kothandaraman said on an October 25 revenues telephone call that Enphase has signed letters of intent with three agreement manufacturing partners, one new as well as two the company is currently working with. Kothandaraman stated Enphase is growing so quick that new manufacturing lines are required anyway, so it makes good sense to website them in the USA.
"The logic is we are anyway expanding fast as a company. We need to build extra lines somewhere. And consequently, these lines that I buy, they're not going to be wasted. They're not mosting likely to be extra. They will possibly be called for. You can think of it as I'm increasing them by a few months," he stated.
Enphase is still awaiting more clarification from the Dept. of the Treasury relating to requirements around domestic content make-up of inverters, but the firm is working with sector companions to give their input to the government.
"We are mosting likely to straighten out those information, ideally in the next three months, as well as things will certainly be a lot clearer. But also for currently, we are buying it," Kothandaraman claimed.
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