Hanwha Q Cells photo voltaic module put in in a storage in North Carolina, USA (Courtesy of Hanwha Q Cells)
Hanwha Q Cells Co., the solar energy unit of South Korea’s Hanwha chemicals-for-defense group, is striving to diversify its income stream as intensified worth competitors with Chinese language photo voltaic modules has hit the Korean firm’s earnings.
The photo voltaic module maker is predicted to launch a set of Q.Residence Hub house vitality storage options within the US within the second half of this 12 months, trade sources stated on Friday. The bundle supplies photo voltaic vitality panels, inverters, vitality storage methods and upkeep and restore companies.
Hanwha Q Cells is contemplating increasing into the engineering, procurement and building (EPC) sector as trade demand for large-scale solar energy era and vitality conversion is rising dramatically.
The corporate will even improve monetary companies reminiscent of mortgage capital to consumers of photo voltaic panels. The corporate plans to boost its mortgage restrict by way of Enfin, its 100% subsidiary and US residential photo voltaic panel producer. Enfin will increase its third celebration possession (TPO) service, which leases and installs house photo voltaic vitality methods.
Hanwha Q Cells goals to enchantment to clients with the comfort and high quality of services as Chinese language merchandise are rising the worldwide photo voltaic module market share with worth competitiveness.
The Hanwha Group unit posted an working lack of 18.7 billion gained ($13.7 million) for the primary quarter of this 12 months.
The corporate goals to show black within the close to time period though its earnings are anticipated to profit from the US import tax on Chinese language photo voltaic cells which is able to double to 50% this 12 months.
By Sang Hoon Sung
uphoon@hankyung.com
Jihyun Kim edited this text.
