Qcells retains No. 1 market share in the U.S. residential & commercial solar module segments

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May 10, 2023, 09:00 ET

The latest U.S. PV Leaderboard Report issued by Wood Mackenzie Power & Renewables solidifies Qcells as a sustained market leader. With the 2022 results available, Qcells has now held the No.1 market share position in the residential and commercial solar segments for five and four consecutive years, respectively.

SAN FRANCISCO, May 10, 2023 /PRNewswire/ -- Qcells, a leading provider in complete energy solutions, once again leads the solar industry in both U.S. residential and commercial markets, according to a recent report issued by Wood Mackenzie, a leading energy research and consultancy firm.

According to Wood Mackenzie's U.S. PV Leaderboard Report for Q1 2023 (the "Leaderboard Report"), Qcells obtained 33.7 percent market share in the U.S. residential solar module market for 2022, marking 18 consecutive quarters occupying No.1. Qcells panels are installed in more than one third of U.S. solar households, meaning the company has set a new record for the highest market share by an individual residential module supplier over the past ten years. Further, Qcells logged a remarkable 38.9 percent market share in Q4 alone.

The Leaderboard Report also ranks Qcells as the U.S. commercial market leader with 17.7 percent market share for 2022. Qcells has held this No.1 position in the commercial segment for the last four years.

Qcells is well positioned to continue its leading market performance in the U.S., driven by its longstanding commitment to bolstering the domestic market. Qcells' announced plans to invest more than $2.5 billion - the largest investment in the history of American solar - to build a complete solar supply chain in the U.S. With this, Qcells aims to accelerate the U.S.' renewable energy transition and domestic manufacturing expansion amid the country's push for made-in-America clean energy solutions.

Alongside its capacity expansion plans, Qcells' milestones extend to its growing integrated energy solutions for the residential, commercial, and utility sectors.

Most recently, Qcells and Summit Ridge Energy, the nation's largest commercial solar company, announced a partnership where Qcells will provide 1.2 gigawatts of solar panels to support the development of more than 350 community solar projects during the next four years. Qcells will also deliver more than 2.5 gigawatts of solar panels, as well as provide engineering, procurement, and construction (EPC) services to selected solar projects contracted by Microsoft through power purchase agreements (PPAs).

Qcells CEO Justin Lee said: "Qcells is proud to be a leader in clean energy solutions in the U.S. PV module sector. Our consistent market leadership serves as proof that our customers value what Qcells as a brand has to offer. Establishing a complete, domestic solar manufacturing value chain in the U.S. will only help Qcells continue reaching greater heights and maintain its position as the dependable choice for the U.S. market."

About Qcells

To learn more about Qcells, visit our website at: https://qcells.com/us/

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SOURCE Hanwha Q CELLS America Inc.