Hanwha Q CELLS Maintains No.1 Market Share in US Residential and Commercial Solar Modules

Hanwha Q CELLS' 'Q.PEAK DUO Black' solar module installed in a garage in North Carolina, USA

[Asia Economy Reporter Oh Hyung-gil] Hanwha Solutions Q CELLS division announced on the 11th that it maintained the No. 1 market share in the U.S. residential and commercial solar module markets last year.

According to global energy consulting firm Wood Mackenzie, Hanwha Q CELLS recorded a 24.1% market share in the U.S. residential module market last year, securing the top position for four consecutive years. In the commercial module market, it also held the No. 1 spot for three consecutive years with a 20.6% market share.

The newly installed solar power capacity in the U.S. last year reached a record high of 23.6GW, a 19% increase compared to the previous year, showing rapid growth.

Hanwha Q CELLS is pursuing a premium strategy centered on its flagship product line, the 'Q.PEAK DUO' series. The Q.PEAK DUO series applies proprietary Quantum DUO Z technology to reduce the spacing between solar cells and maximize module output.

Targeting consumers who prefer high-efficiency modules, last year Hanwha Q CELLS launched the 'Q.PEAK DUO G11' with a maximum output of 590Wp, increasing output by more than 100Wp compared to previous products. It also introduced the Q.PEAK DUO Black module, made in black, enhancing customer satisfaction in the residential market where aesthetics are highly valued.

Additionally, Hanwha Q CELLS conducts quality management under standards up to three times more stringent than the International Electrotechnical Commission (IEC) quality inspection criteria, and was the first in the industry to obtain solar module quality inspection certification from T?V Rheinland, a globally recognized verification institution, maintaining high reliability through strict quality control.

Lee Gu-young, CEO of Hanwha Q CELLS, said, "By achieving the No. 1 market share for four consecutive years in the U.S. residential and commercial solar markets, which prefer premium products, we have reaffirmed our strong brand power. We will further strengthen our position in the global solar market through thorough quality management and technological development."