Hanwha Q CELLS Achieves No.1 Market Share in US Residential and Commercial Solar Module Market in First Half of the Year

[Asia Economy Reporter Yoonju Hwang] Hanwha Q CELLS achieved the number one market share in the U.S. residential and commercial solar module markets in the first half of 2020. According to a recent survey released by the global energy consulting firm Wood Mackenzie, Hanwha Q CELLS recorded a 22% market share in the U.S. residential solar module market in the first half, securing the top position for eight consecutive quarters. Additionally, in the U.S. commercial solar module market, Hanwha Q CELLS maintained its number one position with a 21.5% market share in the first half, an increase of 8.4 percentage points compared to its annual market share last year.

The U.S. residential solar market installed 2.8 GW (gigawatts) annually as of 2019, growing approximately 15% compared to the previous year. In particular, the solar market continues to grow steadily, centered on the western region, which enjoys longer sunlight hours. The California state government mandated solar installations for new homes starting in 2020, and as a result, an additional demand of over 1 GW is expected for new homes in California from 2020 to 2024. The U.S. commercial solar market also installed 2 GW annually as of 2019, with steady demand of around 2 GW per year expected going forward.

Hanwha Q CELLS products undergo quality tests that are two to three times more rigorous than international standard quality criteria before being released. With excellent product stability and superior performance, Hanwha Q CELLS is strengthening its dominance in the U.S. market. The Q.PEAK DUO G9 product released this year applies Q.ANTUM DUO Z (reference material) technology, which eliminates the space between cells to place more cells in the same area, significantly increasing output. Furthermore, in August, Hanwha Q CELLS acquired the U.S. energy software company Growing Energy Labs (GELI), preparing to enter the distributed energy solutions market.

Hanwha Q CELLS is strengthening its market dominance not only through outstanding product capabilities but also through active sports marketing. Since the establishment of the Hanwha Q CELLS golf team in January 2018, four players (In-Kyung Kim, Eun-Hee Ji, Jenny Shin, and Nelly Korda) have been active in the U.S. Ladies Professional Golf Association (LPGA). Additionally, in March 2019, Hanwha Q CELLS signed a sponsorship contract with the U.S. Major League Baseball team LA Dodgers, becoming the official solar partner. Through this contract, Hanwha Q CELLS secured rights to in-stadium advertisements such as catcher’s back ads, outfield fence ads, LED scoreboard ads, as well as ceremonial first pitches, pre-game greetings, and exclusive VIP seating, actively leveraging these for its U.S. sales efforts.