Goldman has been pumping SEDH and has created a belief that their product is a lot cheaper. In reality they cost the same when you include the central inverter you need to complete a SEDG system. Storage will be a big factor in the future when ENPH releases its AC battery. This is a real breakthrough and it will be a lot cheaper than Tesla's system. Listen to the questions on the ENPH conference call and hear the excitement of the CEO when he says it will be "a lot cheaper" than Tesla's. This was after Tesla had announced their price. Many people on this board seem to think that battery storage is easier with a DC system. Not true! A series string that produces hundreds of volts DC cannot simply be connected to a battery. To convert the voltage requires circuits that convert to AC so that the voltage can be converted to match it to the battery. ENPH has this problem solved with their AC battery. They spent the R&D money to develop this and that is the only reason their profits this quarter were less.
In fact, ENPH spent 8 million more on R&D than SEDG last quarter and 5.5 million more on sales & marketing. Building new products and opening new world markets. That's a total of 13.5 million, which is way more than the difference in net profit between the two companies. SEDG seems to be sacrificing its future for immediate results while ENPH is building a great company for the long haul.