Enphase Energy Announces Technology Integration into Octopus Energy Smart Tariff Program in the United Kingdom
Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced that the Enphase Energy System has integrated into Octopus Energy’s smart tariffs, such as “Intelligent Octopus Flux” (IO Flux), which can save customers money on electricity bills.
Last year, Enphase announced a new strategic relationship with Octopus to deploy IQ8 Microinverters and IQ Battery 5P in the U.K. Octopus Energy uses Kraken - its proprietary software platform - to manage, control, and optimize distributed energy resources (DERs), allowing customers to flexibly control Enphase’s solar and battery systems. Many Octopus customers have already integrated this technology to unlock low-cost home energy rates.
Now, Octopus customers with Enphase solar and battery systems can benefit from Intelligent Octopus Flux - a smart import and export tariff. The product optimizes the charging and discharging of solar and battery systems, aiming to provide customers the best rates for consuming and selling electricity.
According to Octopus, more than 40% of IO Flux customers make a profit on their energy bills', getting paid for the energy they export rather than paying for energy import. Octopus customers with Enphase batteries can automatically charge when prices are lowest and export surplus energy during peak times, maximizing savings and supporting grid balance.
"Intelligent Octopus Flux helps customers make the most of their solar panels, optimizing usage in real time to cut bills,” said Nick Chaset, executive vice president at Octopus Energy. “Teaming up with Enphase, renowned for its reliable, top-notch tech, means we can deliver even more value to U.K. homeowners - saving money while building a smarter, greener grid together.”
Octopus Energy is the largest energy provider in the U.K., offering customer service and energy products to more than nine million households. The company has operations in 27 countries and its advanced data and machine learning platform, Kraken, supports more than 60 million customers worldwide.
The third-generation Enphase Energy System with IQ Battery 5P and IQ8 Microinverters offers a significantly improved experience for homeowners and installers because of more power, resilient wired communication, and an improved commissioning experience. Homeowners can also use the Enphase App to monitor performance and intelligently manage their systems. Enphase Energy Systems are fully G100-2 compliant to support the latest U.K. Electricity Networks Association requirements for grid connection of solar and battery storage. In addition, Enphase offers 24/7 customer support and an industry-leading warranty for both solar and battery products. This includes a 25-year warranty for all IQ8 Microinverters and a 15-year warranty for all IQ Batteries activated in the United Kingdom.
"This partnership with Octopus Energy represents the next step in our mission to deliver more value to homeowners by combining advanced technology with innovative energy programs,” said Marco Krapels, vice president of worldwide business development at Enphase Energy. “We're excited to work with Octopus on a global scale to provide meaningful wins for homeowners, Octopus, and all ratepayers, ultimately driving a cleaner, more cost-effective energy future."
Enphase Energy is also a participant in the Octopus Energy GridBoost battery program in Texas.
Enphase Energy | https://enphase.com/
Octopus Energy | https://octopus.energy/
