The global transition toward decentralized, decarbonized energy grids has catalyzed profound technological shifts within the residential and commercial solar markets. Enphase Energy, Inc. operates at the vanguard of this transition, fundamentally disrupting the traditional solar hardware landscape through its proprietary semiconductor-based microinverter architecture.1 Unlike conventional string inverters, which convert direct current (DC) to alternating current (AC) across an entire array of solar modules—thereby rendering the entire system vulnerable to the weakest or shaded panel—Enphase’s distributed architecture converts energy at the individual module level.2 This module-level power electronics (MLPE) approach eliminates high-voltage DC hazards on residential rooftops, significantly mitigates single-point-of-failure risks, and maximizes ene ...