Microinverter supplier Enphase Energy has acquired lead generation company SolarLeadFactory for an undisclosed amount.
The California-headquartered company made the purchase with the objective of substantially increasing lead volumes and conversion rates to help drive down the customer acquisition costs for installers.
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Enphase already has a platform where installers can use tools to design, permit, install, monitor and maintain solar and battery systems, it said, noting the acquisition of SolarLeadFactory further builds on this toolkit by adding lead generation functions to the platform.
“For the past two years, we have executed on our installer digital platform strategy with the acquisitions of Sofdesk for solar design software, DIN’s solar business for proposal and permitting services, 365 Pronto for O&M platform software, and now SolarLeadFactory for high-quality lead generation,” said Badri Kothandaraman, president and CEO of Enphase Energy.
SolarLeadFactory CEO Clayton Cornell said the company could help reduce installers’ customer acquisition costs, which are high in the US, and that by leveraging Enphase’s resources it could “rapidly accelerate improvements in our lead qualification and conversion efforts”.
Last month, Enphase posted strong financial results for Q4 2021 that showed substantial revenue growth and a 53% jump in orders of its IQ batteries, compared with the previous quarter. In response to the surge in demand for batteries, it has added extra capacity to its facilities in Mexico and India.
Meanwhile, having completed its entry into the electric vehicle sector, Enphase is accelerating efforts to develop bi-directional charging to offer a package that benefits homeowners and its installer partners while easing pressure on the grid.