− 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 (Bitterfeld-Wolfen), Germany, January 15, 2019] 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.
