Prime Minister Han Duck-soo Visits Hanwha Q CELLS Georgia Plant, North America's Largest Solar Panel Manufacturer

Korean Prime Minister Takes Initiative to Support Raw Material Procurement
Examines Trends in U.S. Renewable Energy Industry

On the 16th (local time), Choi Byung-yong, plant manager of Hanwha Q CELLS Dalton factory in Dalton, Georgia, USA, is introducing the solar module factory to Prime Minister Han Duck-soo. Photo by Hanwha Solutions

[Asia Economy Reporter Donghoon Jung] Prime Minister Han Duck-soo visited Hanwha Solutions' solar module factory in Georgia, USA, as the final schedule of his overseas tour to promote the 2030 Busan Expo bid and strengthen economic security cooperation.

Hanwha Solutions Q CELLS division (Hanwha Q CELLS) announced on the 17th that Prime Minister Han Duck-soo visited the solar module factory located in Dalton, Georgia, USA, on the 16th (local time) together with Cho Tae-yong, Ambassador to the United States, and Cho Hyun-dong, First Vice Minister of Foreign Affairs.

On his return from the South America tour, Prime Minister Han stopped over in Georgia, held a meeting with domestic battery companies operating locally on the 15th, and as his final schedule, visited the Hanwha Q CELLS factory to review the trends of U.S. renewable energy support policies and toured the solar production line.

Ryu Sung-joo, Head of Hanwha Q CELLS U.S. Manufacturing Headquarters, who explained the factory's operational status that day, cited statistics from the U.S. Energy Information Administration, forecasting that "the U.S. solar installation capacity will grow at an average annual rate of 19% over the next 10 years, increasing from 16GW annually this year to 75GW by 2031." He added that the share of renewable energy in total U.S. power generation will more than double from 21% in 2020 to 44% in 2050, with solar power accounting for more than half of that share.

Hanwha Q CELLS is the largest solar module manufacturer in North America, holding the number one market share for 16 consecutive quarters in the U.S. residential market and 11 consecutive quarters in the commercial market through the second quarter. The Georgia Q CELLS factory, which began operations in the first half of 2019, currently has an annual module production capacity of 1.7GW, which is expected to increase to over 3.1GW after July next year. This amount of electricity can power approximately 2 million people for one year.

The company is also considering large-scale additional investments following the recent passage of the Inflation Reduction Act (IRA) in the U.S. Congress, which includes support for the renewable energy industry to address climate change. Companies with solar manufacturing facilities in the U.S. will be eligible for various government supports such as tax credits starting next year.

Prime Minister Han stated, "Amid the global trend of expanding renewable energy driven by global companies joining RE100, we plan to prepare various support policies so that the renewable energy industry can grow in Korea as well."

Head Ryu said, "The importance of renewable energy will increase further in the U.S. to achieve carbon neutrality and energy security. Hanwha Q CELLS will do its best not only to firmly maintain its number one position in the U.S. market but also to serve as a model case for strengthening Korea-U.S. economic cooperation from the perspective of energy security."

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