Enphase Energy reports increased battery system deployments in Pennsylvania; shares slip 5%
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Enphase Energy (NASDAQ:ENPH) has dropped 5.40% pre-market after reporting a growing number of Enphase Energy System deployments among residential customers in Pennsylvania.
The Enphase Energy System is powered by IQ Microinverters and IQ Batteries. The battery has a Lithium Iron Phosphate battery chemistry that offers a long cycle life and safer operation through excellent thermal stability. The batteries are equipped with Enphase Power Start technology that helps power-up air conditioners and well-pumps.

Micah Gold-Markel, founder of Solar States, an Enphase Gold installer, says that "The Enphase IQ Battery has proven to be one of the most reliable, advanced batteries on the market right now. Paired with on-site solar and the Enphase Appâ¢, homeowners are using the product to ensure they have energy independence when needed most."
However, ENPH shares have slipped pre-market following the news
In recent days, the company has issued similar reports claiming expanded battery storage in Illinois, Colorado and New York.
Enphase Energy recently was upgraded to a Buy rating by analysts at Guggenheim, but Bank of America downgraded the stock to Neutral, seeing 2022 as a transition year for the company.
Read a recent bullish analysis on the stock