Enphase Energy (NASDAQ: ENPH) is the second-worst-performing stock in the S&P 500 this year, outperforming only its largest competitor, SolarEdge Technologies (NASDAQ: SEDG). Over the previous three years, Enphase was up more than 900%, driven by a booming solar industry and a scorching hot growth rate. But even as the stock has cooled off, the company is still putting up good results while retaining a high gross margin.

Let's take a look at why the solar stock is down roughly 70% this year even though Enphase itself is still a great company.

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Source Fool.com