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Solaray Director Jonathan Fisk moves a solar panel at the solar power installation company’s Sydney facility.
Jason Reed | Reuters

Shares of Enphase Energy surged more than 12% during extended trading on Tuesday after the company reported record revenue during the third quarter, despite ongoing headwinds from supply chain bottlenecks.

The company, which makes microinverters and backup energy storage for solar systems, posted sales of $351.5 million during the period, compared to the $345 million analysts surveyed by StreetAccount were expecting.

Revenue jumped 11% quarter over quarter, and was nearly double the $178.5 million earned during the third quarter of 2020. The company also issued upbeat guidance, saying it expects fourth quarter revenue to be between $390 million and $410 million. Wall Street analysts were expecting revenue guidance of $373.6 million, according to estimates from StreetAccount.

Still, while CEO Badri Kothandaraman said business is booming, Enphase, like companies across sectors and industries, is facing supply chain constraints. In an effort to get products to consumers faster, the company qualified alternate suppliers during the quarter, and also chose to airship some microinverters. That significantly increases costs, and combined with ocean freight rates rising by eight times, the company opted to pass along some of those costs to the consumer by raising prices. Enphase is planning to once again raise prices during the fourth quarter.

“Every component in the supply chain is stressed,” Kothandaraman told CNBC. “It is all hand to mouth…every cost is going up and that’s happening right now.” He noted that a shipping container that cost $2,000 last year now costs $16,000.

While Kothandaraman expects the company to navigate the supply chain headwinds during the current quarter, he did not issue any guidance for next year. But this is not a deviation from the normal — Enphase never issues outlook beyond the current period.

“The situation is dynamic. What’s happening on logistics tomorrow may be totally different…the situation is changing every day,” he said, while adding that the fourth quarter looks better on the microinverter front than the third quarter, just as the third quarter looked better than the second quarter. Logistics around batteries, which can’t be shipped by air, have gotten worse, however.

But the company doesn’t envision any slowdown in demand for products despite longer delivery times. Enphase expects to ship between 90 and 100 megawatt hours of storage systems in the fourth quarter, up from 65 megawatt hours during the third quarter.

Enphase has focused on cutting costs, and raising prices for consumers will help offset growing expenses. But gross margins could edge lower during the current quarter. Third-quarter GAAP gross margins came in at 39.9%. Guidance for the fourth quarter puts that number between 37% and 40%.

The company is also expanding its product base. On Monday Enphase announced the IQ8 — a new microinverter that allows a solar system to continuing functioning even if the grid goes down, and without on-site storage.

“Overall, it was a strong quarter, as higher logistics costs were offset by pricing increases and cost management and microinverter demand continues to outstrip supply,” Citi wrote in a note to clients following the earnings announcement.

Shares of Enphase are down 1% for 2021 as of Tuesday’s close.

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China overhauls EV charging: 100,000 ultra-fast public stations by 2027

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7 hours ago

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July 9, 2025

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China overhauls EV charging: 100,000 ultra-fast public stations by 2027

BYD EV fast charger China

China just laid out a plan to roll out over 100,000 ultra-fast EV charging stations by 2027 – and they’ll all be open to the public.

The National Development and Reform Commission’s (NDRC) joint notice, issued on Monday, asks local authorities to put together construction plans for highway service areas and prioritize the ones that see 40% or more usage during holiday travel rushes.

The NDRC notes that China’s ultra-fast EV charging infrastructure needs upgrading as more 800V EVs hit the road. Those high-voltage platforms can handle super-fast charging in as little as 10 to 30 minutes, but only if the charging hardware is up to speed.

China had 31.4 million EVs on the road at the end of 2024 – nearly 9% of the country’s total vehicle fleet. But charging access is still catching up. As of May 2025, there were 14.4 million charging points, or roughly 1 for every 2.2 EVs.

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To keep the grid running smoothly, China wants new chargers to be smart, with dynamic pricing to incentivize off-peak charging and solar and storage to power the charging stations.

To make the business side work, the government is pushing for 10-year leases for charging station operators, and it’s backing the buildout with local government bonds.

The NDRC emphasized that the DC fast chargers built will be open to the public. This is a big deal because a lot of fast chargers in China aren’t. For example, BYD’s new megawatt chargers aren’t open to third-party vehicles.

As of September 2024, China had expanded its charging infrastructure to 11.4 million EV chargers, but only 3.3 million were public.

Read more: California now has nearly 50% more EV chargers than gas nozzles

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Two charged in $650 million global crypto scam that promised 300% returns

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9 hours ago

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July 8, 2025

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Two charged in 0 million global crypto scam that promised 300% returns

A U.S. Justice Department logo or seal showing Justice Department headquarters, known as “Main Justice,” is seen behind the podium in the Department’s headquarters briefing room before a news conference with the Attorney General in Washington, January 24, 2023.

Kevin Lamarque | Reuters

Federal prosecutors have charged two men in connection with a sprawling cryptocurrency investment scheme that defrauded victims out of more than $650 million.

The indictment, unsealed in the District of Puerto Rico, accuses Michael Shannon Sims, 48, of Georgia and Florida, and Juan Carlos Reynoso, 57, of New Jersey and Florida, of operating and promoting OmegaPro, an international crypto multi-level marketing scheme that promised investors 300% returns over 16 months through foreign exchange trading.

“This case exposes the ruthless reality of modern financial crime,” said the Internal Revenue Service’s Chief of Criminal Investigations Guy Ficco. “OmegaPro promised financial freedom but delivered financial ruin.”

From 2019 to 2023, Sims, Reynoso and their co-conspirators allegedly lured thousands of victims worldwide to purchase “investment packages” using cryptocurrency, falsely claiming the funds would be safely managed by elite forex traders, the Department of Justice said.

Prosecutors said the pair flaunted their wealth through social media and extravagant events — including projecting the OmegaPro logo onto the Burj Khalifa, Dubai’s tallest building — to convince investors the operation was legitimate.

A video posted to the company’s LinkedIn page shows guests in evening attire posing for photos and watching the spectacle in Dubai.

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In reality, authorities allege, OmegaPro was a pyramid-style fraud.

When the company later claimed it had suffered a hack, the defendants told victims they had transferred their funds to a new platform called Broker Group, the DOJ said. Users were never able to withdraw their money from either platform.

The two men face charges of conspiracy to commit wire fraud and conspiracy to commit money laundering, each carrying a maximum sentence of 20 years in prison.

The Justice Department, FBI, IRS-Criminal Investigation, and Homeland Security Investigations led the multiagency investigation, with help from international partners.

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Tesla forced to refund $10,000 FSD payment and 0% interest on Cybertruck

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10 hours ago

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July 8, 2025

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Tesla forced to refund ,000 FSD payment and 0% interest on Cybertruck

Tesla is starting to experience some consequences for misleading Full Self Driving customers – at least that’s the finding of one arbitration ruling that has Tesla refunding one customer $10,000 plus legal fees for failing to deliver on their promises. Find out more on today’s legally challenging episode of Quick Charge!

An arbitration “court” found that Tesla misled customers with its Full Self Driving product, and has now been forced to refund at least one person’s $10,000 payment (plus legal fees) for the not-quite autonomous driving software. France, too, is piling on claims of deceptive business practices – but there’s some good news for FSD fans! If you’re still willing to pay for it, Tesla will thrown in 0% financing on a brand new Cybertruck.

Check out the relevant links, below, to learn more.

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple Podcasts, Spotify, TuneIn, and our RSS feed for Overcast and other podcast players.

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New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.

Got news? Let us know!
Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.

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Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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