Hanwha Q Cells is 1st choice for U.S. homesHanwha Q Cells kept its place as the largest residential solar provider in the United States in the first quarter this year, the company said Tuesday.
The solar cell producer under Hanwha Group was the largest residential solar module provider in the United States for the whole of 2018 with a 14.5 percent market share, according to data accumulated by market tracker Wood Mackenzie.
In the first quarter this year, it solidified its leadership with a 27 percent market share, beating U.S. firm SunPower and Korean rival LG Electronics.
While the market share difference between the Hanwha subsidiary and SunPower was only 0.5 percentage points last year, the gap widened to 16.3 percentage points in the first quarter this year.
Hanwha Q Cells said it is the result of it consistently offering high-efficiency solar products in the United States in a statement Tuesday. The company’s major product sold in the United States is the Q.PEAK DUO module series, first launched in 2017.
The Q.PEAK DUO is a half-cell module that offers a high power yield, according to Hanwha. As half-cut cells generate half the electric current of a standard cell, resistive losses while connecting solar modules are reduced.
“It is showing the brand power of Hanwha Q Cells to take the top rank by market share in the U.S. residential solar module market known to prefer high-efficiency and high-quality products,” said Kim Hee-cheul, CEO of Hanwha Q Cells. “We will further tackle the premium solar module market in the U.S.”
According to Hanwha, the U.S. solar market has been growing with the western part of the country, particularly due to having long sunshine hours.
There are other growth factors as well. For instance, from 2020, it is mandatory for newly built houses in California to set up solar panels.
More in Industry
Battery business eclipses oil as demand shifts for good
Kakao proves Japan has an appetite for Korean webtoons
Korea seeks to import remdesivir to treat coronavirus
Samsung’s de facto leader appears for more questioning
Hyundai's take on flying car may star alongside Spider-Man