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Samsung Electronics and Hanwha Q Cells sign an MOU

Published: 05 Jul. 2021, 19:32

Hanwha Q Cells CEO Kim Hee-chul, left, poses for a photo with Lee Jae-seung, head of Samsung Electronics' home appliance unit, after signing a memorandum of understanding on July 2. [SAMSUNG ELECTRONICS]

Samsung Electronics and solar panel manufacturer Hanwha Q Cells have partnered to enter the smart home energy management systems market abroad, aiming to reduce carbon emissions.

Samsung Electronics announced on Monday it signed a memorandum of understanding (MOU) with Hanwha Q Cells on July 2 to create “zero energy homes.”

A zero energy home refers to a household that cuts carbon emissions by running on renewable energy, such as solar power.

Hanwha Q Cell’s residential solar power modules and its energy storage system (ESS) will generate and store renewable energy, and Samsung Electronics will use the collected electricity to power home appliances via its SmartThings Energy system. Energy stored in the ESS will also be used to power eco-heating system (EHS) heat pumps.

The two companies will tap in to overseas markets, including the United States and European countries.

“We will target the U.S. and European smart home energy markets through our partnership with Hanwha Q Cells,” said Lee Jae-seung, head of Samsung Electronics' home appliance unit. “We expect to create a synergistic effect by utilizing Hanwha Q Cell’s solar power modules."

BY LEE TAE-HEE [[email protected]]