Hanwha Q Cells, which is part of Hanwha Solutions and manufactures photovoltaic solar cells, announced on Wednesday that it once again finished first in both the residential and commercial photovoltaic solar module markets in the U.S. based on market share.
According to a global energy consulting company called Wood Mackenzie, Hanwha Q Cells was responsible for 27.4% of the residential photovoltaic solar module market in the third quarter and maintained the first place for nine quarters in a row. At the same time, the company accounted for 22.2% of the commercial module market and maintained the first place for four quarters in a row.
The residential photovoltaic solar module market’s scale in 2020 has been similar to that of last year despite the global pandemic. On the other hand, the number of installations was actually bigger than that of last year. According to a market research company called BloombergNEF, the number of residential photovoltaic solar cells between January and July of 2020 increased by 21% compared to the same period of 2019.
Hanwha Q Cells has been targeting the markets with its Q.PEAK DUO series. This series is applied with the company’s Q. antum Duo Z technology that removes spaces between cells so that more cells can be placed and provide more power compared to other photovoltaic solar modules.
Kim Hee-cheol, who is the president of Hanwha Q Cells, said that placing first in both residential and commercial photovoltaic solar module markets in the U.S. where consumers prefer high-efficient and high-quality products proves power in the company’s brand and that the company will gradually shift its focus towards the premium photovoltaic solar cell market in the U.S. based on its unrivaled technology and quality.
Staff Reporter Ryu, Taewoong | bigheroryu@etnews.com