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Hanwha QCells, Ranked No.1 in Major U.S. Solar Module Markets

NSP NEWS AGENCY, By Soon-ki Lee and Bok-hyun Lee, 2023-05-11 08:43 ENX7
#HanwhaQCells #No1 #USSolar Module Ma

(Seoul=NSP NEWS) = Hanwha Solution’s QCells Division(hereinafter referred to as Hanwha QCells) maintained its No. 1 market share in the U.S. residential and commercial solar module market in 2022.

According to Wood Mackenzie, a global market research firm, Hanwha QCells ranked first in the U.S. housing module market for the fifth consecutive year with a 33.7% share last year.

The United States has been implementing the Inflation Reduction Act(IRA) since last year, which invests about 430 billion dollars(about 567 trillion won) to nurture eco-friendly industries in the country and significantly increase renewable energy.

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According to the U.S. Energy Information Administration(EIA), new residential solar installations in 2022, when Hanwha QCells recorded an overwhelming share, increased by 40% from the previous year to about 6GW. In addition, the EIA predicted that 54% of all new power generation facilities to be installed in the US this year would be solar power facilities.

‘Q.PEAK DUO series, Hanwha QCells’ flagship product line, played a major role in achieving No. 1 in sales in the U.S. solar power market for several consecutive years.

In addition, Hanwha QCells sold ‘Q.PEAK DUO Black’ module made of ‘All-Black’ in the United States, and received favorable responses from residential consumers who value aesthetics.

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