• Hanwha Qcells secured a 35 percent market share in the U.S. residential module market for Q1 2023, earning the No. 1 market share position for the 19th consecutive quarter.
• The company also attained a 35.3 percent market share in the U.S. commercial solar market, holding its No. 1 spot for over four years.
Hanwha Solutions Qcells Division (Hanwha Qcells), a dominant provider in complete energy solutions, continues to lead the solar industry in both the U.S. residential and commercial markets, according to the Q1 2023 U.S. PV Leaderboard Report (the “Leaderboard Report”) issued by leading energy research and consultancy firm Wood Mackenzie.
According to the Leaderboard Report, Hanwha Qcells obtained a 35 percent market share in the U.S. residential solar module market for Q1 2023, marking 19 consecutive quarters occupying the No.1 position. Over one-third of U.S. households chose Hanwha Qcells panels, meaning the company has set a new record for the highest market share achieved by an individual supplier over the past ten years.
The Leaderboard Report also ranks Hanwha Qcells as the U.S. commercial market leader with a 35.3 percent market share for Q1 2023. Hanwha Qcells has held this No.1 position in the commercial segment for more than four years.
Hanwha Qcells is the only manufacturer to secure a market share of more than 35 percent in both the U.S. residential and commercial module markets.
“Hanwha Qcells stands by the quality of its products and is proud that our customers agree that we’re a reliable choice for solar,” said Hanwha Qcells CEO Justin Lee. “We are building a company that wants to go above and beyond for our customers, making it easy for them to take advantage of clean energy technology that is affordable, reliable, and sustainable.”
Hanwha Qcells is set to maintain its leading market performance in the U.S. by making a significant investment of over $2.5 billion to establish a comprehensive solar supply chain within the country. The recent announcement marks the largest investment in the history of American solar and sets Hanwha Qcells up as the only company in the U.S. to establish a fully integrated, silicon-based solar supply chain from raw material to finished panel.
