GlobeNewswire Inc | Sep 21, 2021 08:00AM EDT

September 21, 2021

FREMONT, Calif., Sept. 21, 2021 (GLOBE NEWSWIRE) -- Enphase Energy, Inc.(NASDAQ: ENPH), a global energy management technology company and the worlds leading supplier of microinverter-based solar-plus-storage systems, today announcedits participation in Hawaiian ElectricsBattery Bonus grid services program.

The program offers a new incentive for homeowners onthe island ofOahuwho install a new home battery.The first customers accepted by Hawaiian Electric into the Battery Bonus program will be eligible to receive $850 per kW that they commit to make available to Hawaiian Electric during a fixed two-hour period each day for example, qualified newEncharge10 battery owners may be eligible to earn up to $3,264.

Existing Hawaiian Electric net energy metering (NEM) customersenrolling in the Battery Bonus programare also eligible to add up to 5 kW of new solar capacity totheirroofs without losing their existing NEM rate agreement, resultingin even more savings.

This incentive helps make solar and battery energy systems more affordable and attractive than ever before for our customers, saidRoy Skaggs,director ofsales atAlternate Energy. Because the program also allows existing solar owners to add more solar on their homes without jeopardizing their existing NEM rates, we are seeing particular interest from our existing clients looking to upgradeand growtheir systems.

Our customers know and trust Enphase products, said Mike Tanuvasa, founder at SolarTech Industries. With this new incentive, the choice to upgrade a system with Enphase batteries is an easy one.In particular, beingable to manage the all-in-one system with a single app puts power in the hands of our customers.

The Battery Bonus program is fantastic, said DaveRanhoff, chief commercial officer at Enphase Energy.Theprogram helps realize Hawaiian Electrics goal of a 100 percent renewable power grid by2045, and more homeowners than ever before can have a solar-plus-storage system.We are thrilled to work with our installers in Oahu to make enrolling our batteries into this program simple and easy.

Enphase delivers a safe solar-plus-storage solution which does not expose installers or homeowners to high-voltage DC. Enphase Encharge batteries feature Lithium Iron Phosphate (LFP) battery chemistry, which provides a long cycle life, safe operation through excellent thermal stability, and a UL9540A fire safety certification. Enphase batteries are equipped with Enphase Power Start technology, which helps seamlessly power-up air conditioners and well-pumps. Homeowners have insight into their systems through the Enphase Enlighten mobile app, including the ability to go off-grid from the app. Encharge batteries offer the confidence and convenience of a maintenance-free system, over-the-air software upgrades, and a 10-year limited warranty with an optional 5-year limited warranty extension.

Learn more about Enphase and the Battery Bonus programhere.

About Enphase Energy, Inc.

Enphase Energy, a global energy technology company, delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one intelligent platform. The Company revolutionized the solar industry with its microinverter-based technology and produces a fully integrated solar-plus-storage solution. Enphase has shipped more than 36 million microinverters, and approximately 1.5 million Enphase-based systems have been deployed in more than 130 countries. For more information, visit https://enphase.com/andfollow the company onFacebook,LinkedInandTwitter.

Enphase Energy, Enphase, the E logo, Encharge, and other trademarks or service names are the trademarks ofEnphase Energy, Inc.Other names are for informational purposes and may be trademarks of their respective owners.

Forward Looking Statements

This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energys technology and products; the payment of incentives under third-party programs; our customer service operations; and the performance by our installation partners. These forward-looking statements are based on Enphases current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphases most recent Annual Report on Form 10-K and other documents on file with the SEC and available on the SECs website atwww.sec.gov. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.

Contact:

Enphase Energypress@enphaseenergy.com