[Click eStock] "Hanwha Solutions Benefits from US Restrictions on Chinese Imports"

Daishin Securities forecasted on the 31st that Hanwha Solutions will benefit from the U.S. restrictions on imports of Chinese solar modules.

Wi Jeong-won, a researcher at Daishin Securities, stated, "In the first quarter of this year, concerns about deteriorating performance arose as the average selling price (ASP) declined due to a sharp increase in solar module inventory in the North American region," adding, "However, with the recent U.S. restrictions on imports of Chinese modules, inventory reduction can be expected as we move into the second half of the year."

Wi explained, "Hanwha Solutions is currently ramping up solar module production at its Cartersville Plant 3 in the U.S., and cell, ingot, and wafer facilities will be fully operational starting next year," adding, "This will complete vertical integration of solar cells and modules in the North American region."

He added, "As production in the U.S. increases, an additional 10% tax credit can be obtained under the Domestic Content Adder (DCA) condition," and expressed expectations that "this will enhance price negotiation power compared to competitors and secure competitiveness in the residential solar financing business, thereby establishing a favorable business position locally."

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