10 Best Energy Storage Stocks to Buy According to Hedge Funds

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6. Enphase Energy, Inc. (NASDAQ:ENPH)

Number of Hedge Funds Holding: 44

Stock Upside: 35.14%

Enphase Energy, Inc. (NASDAQ:ENPH) is one of the best energy storage stocks to buy according to hedge funds. On March 26, Enphase Energy, Inc. (NASDAQ:ENPH) launched its IQ Energy Management platform in Australia and New Zealand. The company said in a press release that the system is an artificial-intelligence-driven software platform that integrates with Enphase solar panels, IQ Battery storage systems, and the IQ Energy Router suite of hardware. This enables users to intelligently manage a home’s energy across solar generation, battery storage, electric water heaters, and EV chargers. It also allows users to control all of these devices through the Enphase App.

The system continuously monitors electricity rates, forecasts solar production and home energy demand, and then decides the optimal time to heat water or charge an EV, the company said. It added that the system enables users to prioritize self-generated solar energy and off-peak grid rates over expensive peak-time power.

According to the company, intelligent monitoring matters a lot in the Australia and New Zealand markets because electric water heating alone accounts for 15%-30% of a typical consumer household’s electricity bill. When combined with the rising uptake of EVs, the opportunity for AI-driven optimization across these loads is substantial, Enphase noted in the release.

The company’s SVP of Sales Ken Fong described Australia and New Zealand as “global leaders in residential electrification.” He added that IQ Energy Management platform’s launch is designed to give installers “a powerful new way to increase the value of every Enphase system by optimizing key home appliances from one intelligent platform.”

Enphase Energy, Inc. (NASDAQ:ENPH) is an energy technology company. It designs and manufactures microinverter-based solar and battery storage systems for residential and commercial applications.

While we acknowledge the potential of ENPH to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ENPH and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see the 5 Best Energy Storage Stocks to Buy According to Hedge Funds.

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