Enphase Energy (ENPH) Signs $52M Safe Harbor Deal for Domestic IQ9 Microinverters

Enphase Energy Inc. (NASDAQ:ENPH) is one of the best solar energy stocks to buy right now. On May 7, Enphase Energy signed a new $52 million safe harbor agreement with a US solar and battery financing company focused on third-party ownership/TPO models. The deal involves the supply of IQ9 Microinverters produced at domestic manufacturing facilities for use in future residential and commercial projects.

This agreement is designed to help project owners secure eligibility for the base investment tax credit and the domestic content bonus credit. With this latest contract, Enphase’s total physical work test/PWT order backlog with TPO providers has reached approximately $873.7 million. Most of this volume was secured throughout early 2026, totaling $754 million before the most recent agreement.

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Enphase Energy Inc. (NASDAQ:ENPH) expects to recognize the associated revenue between 2027 and 2030, depending on specific customer project timelines and market demand. The current backlog exclusively covers IQ9 Microinverters, leaving room for additional revenue through the future attachment of IQ Batteries, cables, and other accessories.

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.

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