Enphase, a subsidiary of the US-based solar equipment manufacturer, has reported a 70% fall in European revenue between Q3 2023 and Q4 2023, blaming a decline in equipment sales in Europe. The company attributed this decline to reduced shipments to manage high inventory at distribution partners and a softening in demand. However, the company’s results were slightly positive on a longer period, with operating income stabilising and net income increasing between 2022 and 2023. Enphase also plans to expand its manufacturing capacity in the US, which could help protect its financial results from fluctuations in demand from markets like Europe. However it has announced plans to close operations at manufacturing plants in Romania, and the US state of Wisconsin, alongside layoffs of 10% of its workforce.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
