Enphase Energy reportedly laid off about 160 employees in January, which is close to 6% of the solar inverter, energy storage and EV charger manufacturers’ workforce.
Badri Kothandaraman, president and CEO of Enphase, stated in a document published in the Securities and Exchange Commission that the layoffs are largely caused by the now inactive residential investment tax credit (25D).
“We are aligning our cost structure to match current market conditions while staying disciplined against our financing operating model,” Kothandaraman wrote.
The document also states that an undisclosed “small number” of other employees will be laid off. The layoffs will be effective February 16. The affected staff is receiving a minimum of 13 weeks of severance pay.
Enphase has been operating at about $80 million quarterly, but plans to reduce those expenditures by between $5 to $10 million by Q3 2026, according to the document. The company is reportedly investing $4.6 million in several cost savings initiatives, that include product research and development, as well as implementing AI and automation in customer service, product diagnostics and operations.
Enphase announced yesterday that it is planning to start production of its IQ Bidirectional EV Charging Platform in Q4 2026.
