Hanwha Q CELLS Surpasses 100,000 Households in Germany Residential Power Supply Business

[Asia Economy Reporter Hwang Yoon-joo] Hanwha Q CELLS, the green energy business division of Hanwha Solutions, has surpassed 100,000 subscribed households for its home power supply business "Q.ENERGY" in Germany. This remarkable achievement was reached just one year after the business officially launched last year.

Since the privatization of the power industry in Germany in 1998, private power companies authorized by the government have been contracting with households to supply electricity. Hanwha Q CELLS received permission for the power business in 2019 and officially entered the German power market the following year with Q.ENERGY, a home power supply business.

Q.ENERGY is a power retail business that supplies eco-friendly electricity generated from renewable energy power plants in Germany and Austria to ordinary households. Hanwha Q CELLS supplies electricity directly to homes, similar to Korea Electric Power Corporation (KEPCO). Customers can check the estimated electricity charges for the next 24 hours in advance and adjust their power usage patterns by increasing consumption during cheaper hours, thereby reducing their electricity bills. Hanwha Q CELLS plans to accelerate its market penetration based on a differentiated strategy of economical electricity rates, eco-friendly power, and customized customer solutions.

Hanwha Q CELLS’ early stabilization and success in the power retail business were largely due to its high brand awareness and local partner network built through its solar power business. Last year, Hanwha Q CELLS was selected as the number one company in the solar power sector at Germany’s "Life & Living Awards 2020," which involved evaluations by tens of thousands of consumers. It also ranked first in the electricity industry at the "Highest Reputation Award" hosted by FOCUS MONEY, a leading German economic magazine, proving its brand power.

Kim Hee-chul, President of Hanwha Q CELLS, said, "The power retail business is one of the core businesses that will lead Hanwha Q CELLS’ future. We will establish ourselves as a leading company through aggressive market penetration."

Meanwhile, Hanwha Q CELLS introduced a business last year in Germany that allows corporate customers to install solar power facilities and use solar power without an initial investment burden. This business is broadly divided into the "Power Contract" model and the "Plant Lease" model.

The Power Contract model installs solar power facilities free of charge, with ownership retained by Hanwha Q CELLS, while customers pay monthly electricity fees to Hanwha Q CELLS based on their solar power usage. Since eco-friendly electricity produced by rooftop solar is cheaper than externally sourced electricity, customers can reduce their monthly electricity bills. On the other hand, the Plant Lease model allows customers to use the electricity generated by solar power for free while paying a monthly equipment rental fee.

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