How much of Enphase’s revenue comes from haram?

Enphase provides semiconductor-based microinverter units used to convert the direct current power collected from solar panels to alternating current, the form of electricity homes, offices, and other buildings can use.

In addition, Enphase offers cloud-based software technologies that provide energy monitoring and control services and battery storage systems. 

Practical Islamic Finance concludes:

None of Enphase’s revenue comes from anything inherently haram.

Does Verisign rely on interest to operate?

Year to Date
for the period ending
March 31, 2021
Fiscal year ended
December 31, 2020
Fiscal year ended
December 31, 2019
Interest Income$73$2,156$2,513
Total Revenue$301,754$774,425$624,333
Interest Expense$7,329$21,001$9,691
Total Expenses$240,368$587,986$521,604
Interest Income / Revenue0.02%0.28%0.40%
Interest Expense / Total Expense3.05%3.57%1.86%
*Numbers in thousands, U.S. dollars

Practical Islamic Finance concludes:

Riba is used but not relied upon in Enphase’s operations.

What is Enphase’s Environmental, Social, and Governance (ESG) impact?

Environment

According to Enphase’s 2020 ESG report, based on the company’s cumulative sales records, Enphase estimates its products have offset 20.8 million metric tons of CO2e, equivalent to providing 3.5 million homes with electricity for a year. 

Social

According to Enphase, the company works with GRID Alternatives to provide low-income communities in the United States with solar power at no cost.

Enphase’s combined efforts with GRID have provided 29 MW of solar power to 8,200 families living in low-income communities.

In addition, Enphase has a relatively high Glassdoor rating of 3.8 out of 5.0 from current and previous employees compared to a 3.3 average for all other Glassdoor rated companies.

Governance

No notable governance highlights.

Practical Islamic Finance concludes:

Enphase has a net positive ESG impact.

Comfort Rating

From Enphase’s business, financial, and ESG reviews, Practical Islamic Finance rates Enphase stock as:

Comfortable to invest in from a Halal perspective.

Sources

How It Works  

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Form 10-K Enphase Energy, Inc. 2020

Form 10-Q 2021 Q1 

2020 Environmental, Social, and Governance Report