Hanwha Q CELLS Achieves No.1 Position in U.S. Solar Module Market

Residential Sector 3 Years Consecutive No.1... 1 in 4 Modules Are Hanwha Q CELLS
Commercial Sector Achieves No.1 for 2 Consecutive Years

[Asia Economy Reporter Yoonju Hwang] Hanwha Q CELLS achieved the number one market share in both the U.S. residential and commercial solar module markets in 2020.

According to a recent survey released on the 8th by Wood Mackenzie, a global energy consulting firm, Hanwha Q CELLS recorded a 24.8% market share in the U.S. residential solar module market in 2020, securing the top position for three consecutive years. Additionally, in the commercial solar module market, it maintained the number one spot for two consecutive years with a market share of 19.1%, up approximately 5 percentage points from the previous year.

Fueled by the Biden administration's eco-friendly energy policies, the U.S. solar market is expected to continue its strong growth. President Biden pledged to replace 50% of the total energy mix in the U.S. with clean energy by 2050 and promised to invest $2 trillion over the next four years to build clean energy facilities. The U.S. Energy Information Administration (EIA) also forecasts that the U.S. reliance on renewable energy will increase to 42% by 2050.

In line with the robust growth of the U.S. solar market, Hanwha Q CELLS plans to maintain its dominant position in the U.S. market, which prefers premium products, through strict quality control. Hanwha Q CELLS conducts quality management under conditions up to three times more stringent than the International Electrotechnical Commission (IEC) quality inspection standards. In December last year, it became the first in the industry to obtain the Quality Controlled PV (QCPV) certification for new solar module quality inspection from the global verification organization T?V Rheinland.

The product group that obtained certification in the new solar module quality evaluation is Hanwha Q CELLS' flagship Q.PEAK DUO series. This product line is the core group that enabled Hanwha Q CELLS to achieve the number one market share in solar modules in advanced energy markets such as the U.S., Germany, and Japan, and it is also actively sold domestically. The recently launched Q.PEAK DUO products apply Q.ANTUM DUO Z technology, which eliminates the space between cells to place more cells in the same area, significantly increasing output.

Hanwha Q CELLS has also shown achievements in large-scale power plant projects, entering the top 10 in the 'Top Solar EPC Award' selected by Solar Power World, a leading U.S. solar media outlet, in 2019. Furthermore, it recently developed, constructed, and sold an 81MW solar power plant located in Texas, USA, to a client. To enable more systematic and stable distributed power management, Hanwha Q CELLS acquired the U.S. energy software company Growing Energy Labs (GELI) in December last year.

Meanwhile, Hanwha Q CELLS is becoming a more familiar brand to U.S. consumers through sports marketing. Hanwha Q CELLS is the official sponsor of the LA Dodgers, the former team of player Ryu Hyun-jin and the 2020 World Series champions for the first time in 32 years, engaging in sports marketing activities. Additionally, players from the Hanwha Q CELLS golf team, including Nelly Korda, In-Kyung Kim, Ji Eun-hee, and Shin Ji-eun, are active on the U.S. Ladies Professional Golf Association (LPGA) tour.