Enphase Energy announce that Energy Industry raised $63 million

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Enphase Energy, a Petaluma company that makes “microinverters” for the solar industry, plans to announce today that it has raised $ 63,000,000 in the fifth round of financing.

Kleiner Perkins Caufield & Byers and Bay Partners joined the round, which included existing investors Third Point Ventures, Rockport Capital Partners, Madrone Capital Partners, PCG Asset Management, and Applied Ventures.

inverter is an electronic device that converts direct current, or DC, which is produced by solar panels to alternating current, or AC, which is used in household and distributed by the utility. They are the most visible component of solar systems on roofs, and their importance is often overlooked.

“Inverter is the kind of old technology, a large number of companies make their -. It’s not rocket science,” said Stephen O’Rourke, solar analyst with Deutsche Bank. “But you see the transition from large, central inverter smaller inverter that can optimize power.”

Usually, a few solar panels assembled into an array of roof and share a single inverter. But the shadow of the trees and nearby buildings or dust and litter can have an impact on individual performance and solar panels eventually dragging down the whole system performance.

microinverters Enphase is small enough to be mounted on individual panels, which allows each panel to produce electricity independently from each other. So, if problems arise with the panel, was isolated. I like the series of Christmas lights. With central inverter, if I take one ball out, the whole system down, “said CEO Paul Nahi, the semiconductor industry veteran” When every independent panel., That the entire system more productive, and we can harvest between 5 and 25 percent more energy. ”

Enphase microinverters said the small size makes them easier to install.

“A standard inverter requires many people to install it,” Nahi said. “You can lift microinverter with one hand, and the next will be less than the phones.”

Enphase, founded in 2006, has 115 employees and sells solar microinverters for distributors and manufacturers; largest market is North America.

The company also plans to announce today that Ben Kortlang, a partner at Kleiner Perkins Caufield & Byers is joining the board of directors Enphase’s. enphase inverter review, enphase sponsor