Hanwha Q CELLS Japan is the leading module supplier in Japan in 2017

• Shipments of 770 MW in 2017 secured top market share among all module suppliers in Japan
• Hanwha Q CELLS Japan has been the leading overseas solar module supplier since 2013, and the Company also surpassed domestic suppliers last year
• Japan’s preference for high quality aligns perfectly with Q CELLS’ “Engineered in Germany” solar product portfolio
• The Company provides solutions that meet the needs of Japan’s growing residential sector, such as 32- and 48-cell modules, and the Q.HOME+ energy storage system

BERLIN: Hanwha Q CELLS Japan Co., Ltd. (“Hanwha Q CELLS Japan”) today announced that it secured a leading module supply market share with 770 MW of module shipments in Japan in 2017.

According to independent report, Reality and Future Perspective of Solar Battery Related Technology and Market 2018, published by Japanese market research company Fuji Keizai Co., Ltd, Hanwha Q CELLS Japan’s module shipments in Japan last year was higher than any other company, including Chinese players as well as leading domestic brands.

Last year’s market-leading performance built upon a strong showing for Hanwha Q CELLS Japan in 2016, when the company was the second largest module supplier with 700 MW of shipments.

Hanwha Q CELLS Japan first entered the Japanese solar market in 2011. In the following year, the Company delivered a relatively modest 50 MW of modules, before rising to become the leading overseas player in 2013 with shipments of 500 MW.

Japanese appetite for high quality matches the ethos of Hanwha Q CELLS Japan

Non-domestic solar module suppliers have long struggled to gain secure footing in the Japanese PV market. A combination of strong domestic brands and a historical preference for high quality products has meant that Japanese end consumers, distributors and installers have rarely chosen a non-Japanese solar module.

This preference for high performance and high quality is evident in multiple markets in Asia-Pacific, including Australia, which has consistently seen growth in market share that reached nearly 10% in the residential, rooftop segment as of 2017.

That attitude has begun to change over the past couple of years as leading international firms such as Hanwha Q CELLS Japan have entered the market. The product portfolio offered to Japanese customers by Hanwha Q CELLS Japan is defined by the highest technology standards of “Engineered in Germany” with Q CELLS’ proprietary technology “Q.ANTUM“. Moreover, Q CELLS’ quality test is two to three times stricter than the global testing standard, so the Company is able to meet the exacting standards and preferences required in Japan.

Awards and accolades bestowed upon Q CELLS’ modules – including the recent Intersolar Award 2018 in the category of Photovoltaics for the Q.PEAK DUO-G5 half-cell module, and the “Top Brand PV Europe Seal 2018” award from EuPD research – serve to underline the excellence in reliability, performance, quality and innovation that Japanese customers appreciate.

Hanwha Q CELLS Japan also provides localized products and solutions that have been adapted to meet the needs of the typical Japanese household, such as smaller 32- and 48-cell modules that are better suited to Japanese residential rooftops. Also, the Q.HOME+ all-in-one storage solution, which is comprised of a battery, inverter and energy management system is available in Japan.

Furthermore, Hanwha Q CELLS Japan operates one of the largest sales networks in Japan among non-domestic PV manufacturers, with a Tokyo HQ and four additional sales branches in Fukuoka, Osaka, Nagoya and Sendai. The technical support center is also located in Tsukuba. Such a broad presence provide Japanese customers a peace of mind that Hanwha Q CELLS Japan is on hand to support them and their PV systems at their convenience.

Residential growth equals residential strength for Hanwha Q CELLS Japan

Despite severe cuts to Japan’s residential feed-in tariff (FIT) – which was lowered at the beginning of the year from ¥28/kWh to ¥26kWh – the residential PV sector is enjoying a renaissance, boosted by the Government’s Zero Energy House (ZEH) directive. The ZEH states that more than half of new homes built by 2020 should have zero emissions, and thus more and more homebuilders and homeowners are turning to solar. According to consulting firm RTS Corporation, residential installations will play a leading role in pushing 2018 PV installations in Japan to as high as 7.5 GW – up from 2017.

In the residential market last year, Hanwha Q CELLS Japan’s Q.PEAK product was the most preferred module in Japan, winning the ‘Smart HIT Award 2017′ prize given by Smart House Magazine. The Q.PEAK series uses Hanwha Q CELLS’ proprietary Q.ANTUM (PERC) monocrystalline cell technology to deliver efficiencies of up to 18.6%, offering outstanding yields over smaller surface areas.

Hanwha Q CELLS, together with Hanwha Q CELLS Korea, another affiliate of Hanwha Group, is the world’s largest manufacturer of PERC solar cells, with annual production capacity of over 6 GW. PERC technology was first developed at Australia’s University of New South Wales. Inventor of PERC and recent Global Energy Prize winner, Dr. Martin Greenpredicts that PERC technology utilized in all Q.ANTUM module ranges of Hanwha Q CELLS, including half-cell PERC technology such as Q.ANTUM DUO, will be the direction in which the rest of the industry will go. “Hanwha Q CELLS has definitely led the way in getting PERC into production,” says Dr. Green.

Dong-in Shin, the Head of Sales for Hanwha Q CELLS Japan, said, “Securing leading market share in a competitive, high quality solar market such as Japan is testament to the extensive effort put in by the Hanwha Q CELLS R&D team to ensure that our module products are continually the best-in-class.”

“As a non-domestic company, thriving in the Japanese solar market is incredibly challenging, which is why Hanwha Q CELLS Japan has taken great care to understand the needs of end customers in Japan, examining closely which solutions, products and services would best fit their needs, and why we have duly delivered. Our aim now is to continue to strengthen this market-leading position in Japan and further build strong relationships throughout the country.”

About Hanwha Q CELLS Japan

Hanwha Q CELLS Japan Co., Ltd was established in 1984 as Japanese subsidiary of a South Korea’s leading enterprise, Hanwha Group and commemorated 30th anniversary in February 2014. Hanwha Q CELLS Japan conducts exportation, importation in Asia and sales in Japanese market for various key industries such as solar energy (photovoltaic module importation and IPP), chemicals, iron, steel, mechatronics, manufacturing facilities, automotive components and IT products. In 2017, Hanwha Q CELLS Japan became the leading PV module supplier in Japan based on shipment volume, reached 3.4 GW of total shipment volume and 30,000 installations on residential roofs, ever since the company entered PV business in 2011.

For more information, visit: www.q-cells.jp

Safe-Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Hanwha Q CELLS Japan’s operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Except as required by law, Hanwha Q CELLS Japan does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: Hanwha Q CELLS Co., Ltd.