Global energy tech company Enphase Energy just announced the first shipments of its microinverters made in Columbia, South Carolina.
In April, Enphase, which supplies microinverter-based solar and battery systems, announced that it would begin manufacturing its products in the US.
A microinverter is a device used with solar arrays to convert the energy that’s generated (Direct Current) to usable electricity for a home (Alternating Current).
Fremont, California-based Enphase’s (Nasdaq: ENPH) first US contract manufacturing facility is Austin-headquartered manufacturer Flex’s (Nasdaq: FLEX) South Carolina factory.
This is the first production from one of Enphase Energy’s three contract manufacturing partnerships in the US, which it expects will create around 1,800 jobs. In just South Carolina, Enphase and Flex expect to add around 600 jobs.
With all three facilities, Enphase expects to have the capacity to produce 4.5 million microinverters per quarter – or 18 million microinverters per year. That manufacturing capacity will enable 1 million new solar homes annually in the US.
Enphase estimates nearly $20 million in capital investment per US manufacturing facility for a total of $60 million in capital investment, in addition to capital investments from its contract manufacturing partners.
The Biden administration’s Inflation Reduction Act (IRA) is cited by Enphase Energy as the reason it’s been able to kickstart its US manufacturing. Meanwhile, President Joe Biden will be attending a kickoff event and tour tomorrow to mark the milestone at Flex’s factory in West Columbia.
Revathi Advaithi, CEO of Flex, said:
We … thank President Biden and the US Congress for the Inflation Reduction Act, which has increased interest and demand for clean technology and American manufacturing, as evidenced by [our] announcement with Enphase.
Companies have announced $11 billion in manufacturing and clean energy investments in South Carolina as a result of the IRA, and the Biden-Harris Administration has already awarded $2.6 billion in funding there for infrastructure projects.
Photo: Enphase Energy
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