3rd quarter residential 27.4%, commercial 22.2%…#1 market share for 9th quarter and 4th consecutive quarter
Meets US consumer standards through high-efficiency products and thorough quality control
[에너지신문] Hanwha Q CELLS achieved the No. 1 market share in the US residential and commercial solar module market in the third quarter of 2020.
According to Wood Mackenzie, Hanwha Q Cells ranked first in the US residential solar module market for the 9th consecutive quarter with a 27.4% share in the third quarter. In addition, in the US commercial solar module market, it maintained the No. 1 position for the fourth consecutive quarter with 22.2% market share in the third quarter.
Despite the aftermath of Corona 19, the amount of residential solar facilities installed in the third quarter of the US was similar to the previous year. According to the Wood McKinsey report, the market size in the third quarter was about 738MW, similar to the market size in the same period last year, and the total amount of installations increased. Bloomberg New Energy Finance also revealed that the number of residential solar installations in the U.S. installed through July this year increased by 21% compared to the same period in 2019 (January-July).
Hanwha Q CELLS explained that it satisfies the strict standards of US consumers through thorough quality control. Products released after 2~3 times the quality test of international standard quality standards boast excellent stability and excellent performance. Last month, it was the first in the industry to be certified in the quality inspection of new solar modules by TUV Rheinland, a global verification organization. In this inspection, short-term and long-term reliability evaluation of the module, field sampling inspection, and raw and subsidiary materials inspection were conducted.
The product line that obtained certification in the evaluation of new modules is the Q.PEAK DUO series launched by Hanwha Q Cells this year, and the product achieved the No. 1 market share in solar modules in advanced energy markets such as the United States, Germany, and Japan. It is a core product line that has been made possible and is actively sold in Korea. QPeak Duo applied Q.ANTUM DUO Z technology, removing the space between cells, placing more cells in the same area and increasing the output significantly.
In addition, Hanwha Q CELLS is strengthening its market dominance through active sports marketing. Four players (Kim In-kyung, Ji Eun-hee, Shin Ji-eun, and Nelly Koda) from Hanwha Q CELLS Golf Club, founded in January 2018, are active in the American Women’s Professional Golf (LPGA).
In addition, in March last year, it signed a sponsorship contract with the LA Dodgers in the US major league, becoming an official solar power partner. With this contract, Hanwha Q CELLS is actively using it for U.S. sales by securing advertisements in the stadium such as rear catcher advertisements, outfield fence advertisements, and LED billboard advertisements, as well as greetings before and during the game, and use of exclusive VIP seats.
This year, after establishing the vision of becoming a’total energy solution company’, Hanwha Q CELLS is a solar solution business that combines solar power and energy storage (ESS), a solar power plant development business, and power that directly sells electricity to consumers. It is promoting sales business, etc. In August, it acquired US energy software company’Growing Energy Labs (GELI)’ and is preparing to enter the distributed energy solution market.
Hanwha Q CELLS President Kim Hee-cheol said, “Achieving No. 1 in the US residential and commercial markets, which prefer high-efficiency and high-quality products, is an indication of the brand power of Hanwha Q CELLS. We will accelerate our targeting of the premium solar market.”
Meanwhile, Hanwha Q CELLS is recognized for its high brand recognition outside the United States. In Korea, it was selected as a winning company in the’Global Best Company’ category for three consecutive years at the ‘2020 Korea Consumer Awards’ in September.
In August, it was selected as the No. 1 in the electric industry at the’Highest Reputation Award’ hosted by the leading German economic magazine’FOCUS MONEY’, and in March, Germany’s’Life & Living Awards 2020′ )’It was recognized as a luxury brand, ranking first in the solar power field.
In addition, EuPD Research, a solar energy research institute, has been awarded the Top Brand PV, which evaluates and selects the brand value, for 7 consecutive years in Europe and 5 consecutive years in Australia.
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