Investing.com — Enphase Energy Inc (NASDAQ:ENPH) has been selected by Vermont-based utility provider Green Mountain Power (GMP) for its home battery grid services program.
The deal means GMP will offer Enphase Energy Systems to its customers in a battery lease grid services pilot program. In addition, homeowners will be able to enroll in GMP’s “Bring Your Own Device” grid services program, which allows customers with their own Enphase Energy Systems to earn an incentive.
Enphase shares are trading 1.8% higher Monday.
The pilot lease program will provide 100 eligible customers with two Enphase IQ Battery 10 units for $65 per month for ten years or for one payment of $6,500.
In addition, Enphase said it is also launching its Grid Services Manager, a resource management system that GMP will use to manage virtual power plants with Enphase Energy Systems.
Enphase Energy’s Chief Commercial Officer, Dave Ranhoff said the company is “proud to work with Green Mountain Power on this program to offer Vermont homeowners Enphase IQ Batteries and IQ Microinverters.”