Hanwha Q CELLS Launches Residential Energy Solutions in Australia... Aims to Lead Virtual Power Plant Market

Q-Home Core Combines Solar Inverter, ESS, and Software
Facilitates Optimization of Residential Power Usage
Launched Through Victoria State VPP Pilot Project in Australia

Hanwha Q CELLS Moves to Lead Global Virtual Power Plant Market
Virtual Power Plant Market Size Expected to Grow 25% Annually Until 2027

Hanwha Q CELLS modules are installed on the roof of a house in Melbourne, Victoria, Australia. Photo by Hanwha Q CELLS

[Asia Economy Reporter Donghoon Jeong] Hanwha Solutions Q CELLS division announced on the 21st that it will launch Q.HOME CORE, a residential energy solution, in Australia next month.

Q.HOME CORE is an integrated energy solution that combines a solar inverter, energy storage system (ESS), and energy monitoring service. Households using Q.HOME CORE can directly control, manage, and optimize the electricity generated by solar modules. Hanwha Q CELLS also supplies residential solar modules in the United States, Europe, and Japan. In particular, it has proven its high status in the global solar market by ranking first in market share for three consecutive years in the U.S. residential market.

Q.HOME CORE will be unveiled through a virtual power plant (VPP) pilot project implemented by the Victorian State Government in Australia. A virtual power plant is a system that uses ICT technology to connect various distributed energy sources and operate them as a single power plant. It is attracting attention as a way to efficiently manage the rapidly increasing distributed power sources. Hanwha Q CELLS was selected for this Victorian pilot project and plans to supply solar modules and Q.HOME CORE, as well as provide the virtual power plant platform.

Through participation in this pilot project, Hanwha Q CELLS plans to establish a favorable position for entering virtual power plant markets worldwide. Australia is one of the leading countries in building virtual power plants, and the Australian government is currently creating the world's largest virtual power plant. Multiple virtual power plant projects led by various state governments are scheduled within this year. By participating in several pilot projects in the future, Hanwha Q CELLS aims to take a leading role in the Australian virtual power plant market and secure a foothold for virtual power plant business expansion in the U.S., Japan, and Korean markets.

The VPP market size is expected to grow at an average annual rate of about 25% until the end of 2027. In Korea, the virtual power plant market is expected to be fully established once the "Special Act on Activation of Distributed Energy," which was primarily proposed by Assemblyman Kim Seonghwan in July last year, is passed.

Hanwha Q CELLS is also striving to secure a leading position in the residential energy solution and virtual power plant markets in other countries. It plans to introduce Q.HOME CORE in Europe within the first half of this year, and in September last year, it launched 'Q.SUPREME,' a residential solar solution in Japan, accelerating its entry into the Japanese residential solar market. Additionally, Hanwha Q CELLS signed a memorandum of understanding with Jeju Energy Corporation in September last year to cooperate on distributed energy projects in Jeju Island and is discussing various projects.

A Hanwha Q CELLS official said, "Based on our strong brand power in the global solar market, Hanwha Q CELLS will take the lead in entering new businesses. As the virtual power plant market is expected to grow rapidly worldwide, we plan to actively carry out virtual power plant projects in multiple countries."

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