Hanwha Q CELLS Achieves No.1 Position in US Solar Module Market in Q3

[Asia Economy Reporter Park So-yeon] Hanwha Q CELLS, the solar solutions division of Hanwha Solutions, achieved the number one market share in the U.S. residential and commercial solar module markets in the third quarter of 2020.

According to a survey released on the 23rd by global energy consulting firm Wood Mackenzie, Hanwha Q CELLS recorded a 27.4% market share in the U.S. residential solar module market in the third quarter, securing the top position for nine consecutive quarters. Additionally, in the U.S. commercial solar module market, it maintained the number one spot for four consecutive quarters with a 22.2% market share in the third quarter.

Despite the impact of the novel coronavirus disease (COVID-19), the installation volume of U.S. residential solar systems in the third quarter was similar to that of the previous year. According to the Wood Mackenzie report, the market size in the third quarter of 2020 was approximately 738MW, comparable to the third quarter of 2019, and the total installation volume actually increased. Market research specialist Bloomberg New Energy Finance also reported that U.S. residential solar installations up to July this year increased by 21% compared to the same period (January to July) in 2019.

Hanwha Q CELLS products meet the strict standards of U.S. consumers through rigorous quality control. Products released after undergoing quality tests two to three times the international standard quality criteria boast excellent stability and superior performance. Last month, Hanwha Q CELLS became the first in the industry to obtain certification in the new solar module quality inspection by the global verification organization TUV Rheinland.

Kim Hee-chul, President of Hanwha Q CELLS, stated, "Achieving simultaneous number one positions in both the U.S. residential and commercial markets, which prefer high-efficiency and high-quality products, demonstrates the brand power of Hanwha Q CELLS." He added, "We will accelerate our efforts to target the U.S. premium solar market based on Hanwha Q CELLS' unique technological capabilities and quality."

This content was produced with the assistance of AI translation services.