Hanwha Q CELLS ranks first in residential solar module sales for 9 consecutive quarters in the US

No. 1 in residential use for 4 consecutive quarters

Hanwha Q CELLS solar module installed in US house
Hanwha Q CELLS solar module installed in US house

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(Seoul = Yonhap News) Reporter Kim Chul-seon = Hanwha Solutions[009830]On the 23rd, Hanwha Q Cells in the solar solution division of the company announced on the 23rd that it maintained the No. 1 market share in the US residential and commercial solar module market in the third quarter of this year.

According to a report released by Wood Mackenzie, a global energy consulting organization, Hanwha Q CELLS recorded 27.4% share in the US residential solar module market in the third quarter of this year, ranking first for the 9th consecutive quarter.

The cumulative market share until the third quarter of this year was 24%, about twice that of LG Electronics (12.9%), the second-largest company.

In the US commercial photovoltaic module market, it maintained the No. 1 position for the fourth consecutive quarter, accounting for 22.2% of the market share in the third quarter of this year.

This year’s cumulative market share was 20.8%, more than twice as high as JA Solar (10.1%), the second largest company.

According to the report, the solar power facility market size in the third quarter of this year was about 738MW (megawatts), and it was found that the new coronavirus infection (Corona 19) situation was similar to the same period last year.

Hanwha Q CELLS President Kim Hee-cheol said, “Achieving the first place in the US residential and commercial markets, which prefers 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.”

Earlier, Hanwha Solutions recently decided to issue a capital increase worth 1.2 trillion won, and announced that it will use 1 trillion won of the capital increase for research and development and production of next-generation solar power products and investment in related businesses.

Hanwha Solutions expects to generate 12 trillion won in sales in the solar-based energy business alone by 2025 through the expansion of the solar business.

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