Enphase (ENPH) Soars 14% on Demand Surge Ahead of Tax Credit Deadline

Enphase Energy Inc. (NASDAQ:ENPH) is one of the 10 Stocks With Unbelievable Gains.

Enphase Energy rallied for a second day on Thursday, soaring 14.31 percent to close at $48.01 apiece, as investors cheered a new marketing strategy to lure more commercial customers for its most powerful microinverter to date before the looming deadline of federal solar tax credits.

In a statement, Enphase Energy Inc. (NASDAQ:ENPH) said that customers can now place preorders for its new IQ9S-3P Commercial Microinverter, a new product capable of supporting 770-watt solar panels to remain eligible for the 30 percent commercial tax credit before the July 4 deadline.

“Preorders … allow customers to safe harbor equipment ahead of upcoming federal tax credit deadlines while finalizing project designs,” it said.

Enphase Energy Inc.’s (NASDAQ:ENPH) new microinverter is capable of supporting 18A of continuous DC current, deliver up to 548 VA of continuous output power, and is designed for high-wattage solar panels for commercial customers.

It is likewise equipped with advanced GaN technology, enabling high performance, cooler operation, and an industry-leading CEC weighted efficiency of 97.5 percent.

In other news, Enphase Energy Inc. (NASDAQ:ENPH) swung to a net loss of $7.4 million in the first quarter of the year from a $29.7 million net income in the same period last year, as revenues fell by 20 percent to $282.9 million from $356 million year-on-year.

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