Enphase Energy announced that its IQ Meter Collar, a device that enables behind‑the‑meter solar and battery integration, has received approvals from 48 utilities across the United States, including Pacific Gas and Electric Company (PG&E) and San Diego Gas & Electric (SDG&E).
The IQ Meter Collar plugs into a home’s existing electrical panel and provides utilities with real‑time visibility into distributed energy resources, allowing them to monitor and manage customer‑level solar and battery systems. The device also supports whole‑home backup without the need for a dedicated sub‑panel, simplifying installation and reducing costs for installers and homeowners.
Utilities have approved the collar because it improves grid stability, delivers granular data for demand‑response programs, and meets growing demand for reliable home backup solutions. By enabling utilities to oversee behind‑the‑meter assets, the collar removes a key regulatory barrier that has historically slowed deployment in high‑penetration markets such as California.
Enphase’s IQ Meter Collar differentiates the company from competitors such as Tesla Powerwall, LG Chem, and Sunrun by offering a turnkey solution that integrates the inverter, battery, and monitoring platform in a single, utility‑approved package. The approvals therefore strengthen Enphase’s competitive moat and position it to capture a larger share of the U.S. residential storage market.
Financially, the expansion is expected to drive higher installation volumes and recurring revenue from utility programs. Enphase’s Q3 2025 revenue of $410.4 million and Q4 guidance of $310–$350 million suggest that the company is looking to offset a sequential decline with new market access. The approvals are a tailwind that could help lift installation activity in the coming quarters.
Market sentiment around the announcement was mixed. Enphase’s stock had reached a 52‑week low of $28.86 earlier in November, and analysts were largely “hold” or “sell” on the stock. The utility approvals were viewed positively as a de‑risking factor, but broader concerns about declining revenue growth, competition, and policy changes tempered enthusiasm.
Ken Fong, senior vice president and general manager of the Americas and APAC, said, “With approval from SDG&E, we’re enabling faster, simpler, and more cost‑effective battery installations for California homeowners. The IQ Meter Collar is a key part of what makes our 4th‑generation battery system so streamlined, and we’re working closely with utilities across the country to bring those benefits to more markets.”
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