Enphase Energy shines as company sees rising residential battery use
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Enphase Energy (ENPH
+5.6%) shoots higher after saying installers in Washington state are seeing more residential customers deploying its battery systems, although the company provides no specifics.
Enphase says heat waves and winter storms in the Pacific Northwest are causing more people to think about installing energy storage.

Residential storage capacity is growing in Washington state, with deployments expected to nearly triple by 2024, according to recent studies.
In recent days, the company has issued similar reports claiming expanded battery storage in Illinois, Colorado and New York, but Enphase shares have dropped more than 20% YTD.
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.