Why Enphase Energy Shares Are Rising

Enphase Energy Inc ENPH shares are trading higher after the company announced it expanded its Enphase Installer Network in Victoria, Australia.

Enphase Energy says Victoria's commitment to solar energy is spearheaded by the Solar Homes Program, which is driven by Solar Victoria, the only state body in the country specifically formed to promote solar energy growth. 

The stock may also be trading higher possibly due to the Russia-Ukraine conflict which has caused an increase in oil prices and pressure on some countries to become less dependent on Russian gas.

Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage and communication on one platform. 

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Enphase Energy has a 52-week high of $282.46 and a 52-week low of $108.88.