- Installer data from EuPD Research shows Hanwha Q CELLS captured
the largest share of solar module market in Germany last year
- Leadership position attained by focusing on high efficiency
modules with residential and commercial solutions
- Growth of Q.PARTNER sales network helped boost sales, while
brand awareness increased through sponsorship of German Bundesliga
football club RB Leipzig
- Wood Mackenzie data further indicates Hanwha Q CELLS' market
leadership in U.S. residential solar market in third quarter of
2018
- Hanwha Q CELLS' CEO Mr. Hee Cheul
(Charles) Kim remarked: "Based on superior technology
leadership and quality competitiveness, we will continue to
accelerate Hanwha Q CELLS' market penetration not just in
Germany, but the whole of
Europe."
THALHEIM, Germany, Jan. 15, 2019 /PRNewswire/ -- Hanwha Q CELLS Co.,
Ltd. (NASDAQ: HQCL) ("Hanwha Q CELLS" or the "Company"), one of the
largest solar cell and module manufacturers in the world, today
announced that it achieved top market share in Germany's solar module market in 2018.
According to the survey titled Global PV InstallerMonitor 2018/2019
by EuPD Research, Hanwha Q CELLS cornered a larger share of module
sales than any other company in Germany last year.
This performance is the result of steadily targeted premium
solar market in Germany, which has
firmly embraced high-efficiency solar modules, and focusing on a
customer-oriented product portfolio.
Influence of solar energy is growing as German transition
accelerates
According to the International Energy Agency (IEA), Germany's electricity production from solar
energy accounted for 6.1% of the total electricity generation in
2017, while electricity production from renewable sources reached
33.6%. In 2018, renewables overtook coal to become Germany's main energy source, supplying just
over 40% of electricity production according to research from
Fraunhofer. A growing trend helping to drive Germany's energy transition (the Energiewende,
which is targeting 65% renewable energy share by 2030) is rising
demand for high-efficiency products - especially in the residential
and commercial solar energy market.
Equally, the market for self-consumption, rather than actual
electricity consumption, is expanding, because solar energy is more
economical than coal or gas power generation. Hanwha Q CELLS has
strengthened its market dominance based on high-efficiency premium
solar modules and solutions that boast excellent product
performance and meet the high quality demands of the German solar
market.
An appetite for high efficiency, quality and customer
care
For many years, Hanwha Q CELLS has supplied high efficiency
premium solar modules based on the Company's proprietary Q.ANTUM
technology, which improves the power output and long-term stability
of its solar products while meeting the stringent purchasing
standards of typical German consumers. Though based on passivated
emitter rear-side cell (PERC) technology, Q.ANTUM technology offers
a number of additional benefits that differentiate the technology
from conventional PERC products, ensuring high module performance
output and long-term reliability thanks to excellent anti-PID
(potential induced degradation), anti-LID (light induced
degradation) and anti-LeTID (light and elevated temperature induced
degradation) performance.
Across many parts of Europe but
particularly in Germany, Hanwha Q
CELLS has also successfully introduced the Q.HOME: a total energy
solution for the residential market that combines all of the
necessary energy management functions for the household, including
energy storage. In the commercial and industrial (C&I) space,
Hanwha Q CELLS' Q.FLAT is a solution that helps to reduce
installation time and cost, thus providing a convenient and
cost-effective solution to C&I and some residential
customers.
In addition to Hanwha Q CELLS' technical prowess, the expansion
of the Company's sales network via its Q.PARTNER program has also
played a key role in serving the German solar market. The Q.PARTNER
program provides various collaborative services such as on/offline
education for solar installers, and offers insightful marketing
materials to partner companies. In Germany alone, 640 partner companies have
joined the program to be able to collaborate closely with Hanwha Q
CELLS and respond to customer's needs immediately. Currently, more
than 80% of the Company's European residential and commercial
market sales are made through the Q.PARTNER program, and as the
European residential and commercial markets are expected to grow
steadily, Q.PARTNER is expected to become more important in
targeting Europe's premium
markets.
Hanwha Q CELLS has also become a familiar brand to European
consumers through visible sports marketing. In September of last
year, Hanwha Q CELLS signed a partnership extension agreement with
RB Leipzig, a leading football club in Germany's Bundesliga. Under this agreement,
Hanwha Q CELLS maintained its existing rights such as advertising
on cam carpets next to the goals, on the LED hoardings around the
pitch and exclusively on the team benches. Moreover, the Company
has secured additional rights to promote its Q CELLS brand on the
famous EA Sports video game franchise FIFA (FIFA 19 version)
whenever RB Leipzig home matches are played.
Hanwha Q CELLS' CEO Mr. Hee Cheul
(Charles) Kim remarked: "Securing top market share in
Germany, which is the main market
in Europe, once again proves
Hanwha Q CELLS' strong brand power. Based on superior technology
leadership and quality competitiveness, we will continue to
accelerate Hanwha Q CELLS' market penetration not just in
Germany, but the whole of
Europe."
Meanwhile, according to the U.S. PV Leaderboard report released
by global energy consulting firm Wood Mackenzie Power &
Renewables in December 2018, Hanwha Q
CELLS achieved the top market share in the U.S. residential solar
market in the third quarter of 2018.
About Hanwha Q CELLS
Hanwha Q CELLS Co., Ltd. (NASDAQ:HQCL) is one of the world's
largest and most recognized photovoltaic manufacturers for its
high-performance, high-quality solar cells and modules. It is
headquartered in Seoul, South
Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ) with
its diverse international manufacturing facilities in Malaysia and China. Hanwha Q CELLS offers the full spectrum
of photovoltaic products, applications and solutions, from modules
to kits to systems to large-scale solar power plants. Through its
growing global business network spanning Europe, North
America, Asia, South America, Africa and the Middle East, the Company provides excellent
services and long-term partnerships to its customers in the
utility, commercial, governmental and residential markets. Hanwha Q
CELLS is a flagship company of Hanwha Group, a FORTUNE Global 500
firm and a Top 10 business enterprise in South Korea. For more information, visit:
http://www.hanwha-qcells.com.
Safe-Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and as defined in the U.S. Private Securities Litigation Reform Act
of 1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar statements.
Among other things, the quotations from management in this press
release and the Hanwha Q CELLS' operations and business outlook,
contain forward-looking statements. Such statements involve certain
risks and uncertainties that could cause actual results to differ
materially from those expressed in or suggested by the
forward-looking statements. Further information regarding these and
other risks is included in Hanwha Q CELLS filings with the U.S.
Securities and Exchange Commission, including its annual report on
Form 20-F. Except as required by law, Hanwha Q CELLS does not
undertake any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Contact:
Hanwha Q CELLS GmbH
Corporate Communications
Oliver Beckel, Ian Clover
Tel: +49 (0)3494 6699 10121
E-mail: presse@q-cells.com