Hanwha Q cells Retains No.1 Market Share Spot in U.S. Residential and Commercial PV Module Segments – EQ Mag Pro
The latest U.S. PV Leaderboard report by Wood Mackenzie solidifies Hanwha Qcells as a sustained market leader
Hanwha Qcells recently announced that it has retained its top market share in the U.S. residential and commercial solar module markets, underscoring the Company’s consistent leadership in the industry.
According to the Q1 2022 U.S. PV Leaderboard report by leading energy research and consultancy firm Wood Mackenzie, Hanwha Qcells obtained 24.1 percent market share in the U.S. residential market for FY 2021, marking 14 consecutive quarters of its No.1 position. The Leaderboard report also ranks Hanwha Qcells as the U.S. commercial market leader with 20.6 percent market share, a two percent increase from FY 2020. Hanwha Qcells has held the No.1 position in the commercial segment for the last three fiscal years.
Hanwha Qcells’ long-haul commitment to the U.S. market
Alongside its leading market performance, Hanwha Qcells has achieved milestones solidifying its longstanding commitment to the U.S. market. With the inauguration of its Dalton, Georgia manufacturing facility, the largest module production plant in America, Hanwha Qcells provides up to 1.7 GW of domestically assembled modules annually to the U.S. solar market. Hanwha Qcells’ commitment to the U.S. also extends to its module distribution and fulfillment as well as its growing integrated energy solutions for the residential, commercial and utility solar sectors.
Most recently, Hanwha Qcells’ parent company, Hanwha Solutions, announced plans to launch a multi-billion-dollar expansion to secure capabilities across the full solar value chain including domestically sourced raw materials such as low-carbon polysilicon. This initiative, which would benefit significantly from the passing of the Solar Energy Manufacturing for America Act (SEMA) and smart trade policy, will secure Hanwha Qcells with full control of its solar supply chain while creating thousands of well-paying jobs in the U.S.
Justin Lee, CEO of Hanwha Qcells, said: “Hanwha Qcells is proud to retain the No.1 market share position in the U.S. residential and commercial PV module sectors. Our consistent market leadership in these two segments is made possible by the support and loyalty of our valued customers. Hanwha Qcells will keep reaching to greater heights and strive to continue being the dependable choice for the U.S. market.”
Hanwha Qcells is one of the world’s leading clean energy companies, recognized for its established reputation as a manufacturer of high-performance, high-quality solar cells and modules, portfolio of intelligent storage systems, and growing international pipeline of large-scale renewable energy projects. Hanwha Qcells also provides renewable electricity retail services and packages to end customers the world over. The company is headquartered in Seoul, South Korea (Global Executive HQ), Thalheim, Germany (Technology & Innovation HQ) and San Francisco, USA (Energy Storage/Inverter & Software HQ) with its diverse international manufacturing facilities in the U.S., Malaysia, China, and South Korea. Hanwha Qcells strives to offer Completely Clean Energy through the full spectrum of photovoltaic products, storage solutions, renewable electricity contracting and large-scale solar power plants. Through its growing global business network spanning Europe, North America, Asia, South America, Africa and the Middle East, Hanwha Qcells provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental and residential markets.
Hanwha Solutions aims to deliver sustainable solutions for the planet through smart energy solutions and customer-focused materials. The Company operates its business through five divisions: Qcells, Chemical, Advanced Materials, Galleria and City Development. The Qcells Division offers total energy solutions from photovoltaic module manufacturing, power plant operation to electricity retailing service. The Chemical Division, the first in Korea to produce polyvinyl chloride (PVC), manufactures various chemical products and eco-friendly plasticizers. The Advanced Materials Division produces high-tech materials for automotive, photovoltaic and electronic devices. The Galleria Division, an operator of premium department store chain, provides premium fashion and food services. The City Development Division is a leading real estate developer specializing in industrial complexes. With its innovative technologies for sustainable growth, Hanwha Solutions strives to become a global leader in bringing a better future for humanity.