Number 1 market share

Qcells maintains No. 1 position in both U.S. residential & commercial solar market segments

The latest U.S. PV Leaderboard Report issued by Wood Mackenzie Power & Renewables solidifies Qcells as a leading choice for solar panels.  With the Q1 2023 results available, Qcells continues to hold these No.1 market share positions, while offering popular turnkey solutions for the residential, commercial, and utility sectors.

[San Francisco, CA, July 3, 2023] Qcells, a dominant provider in complete energy solutions, continues to lead 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 Q2 2023 (the “Leaderboard Report”), Qcells obtained 35 percent market share in the U.S. residential solar module market for Q1 2023, marking 15 consecutive quarters occupying No.1. Over one-third of U.S. households that installed solar in Q1 2023 used Qcells panels, meaning the company has set a new record for the highest market share by an individual supplier over the past ten years.

The Leaderboard Report also ranks Qcells as the U.S. commercial market leader with 35.3 percent market share for Q1 2023. Qcells has held this No.1 position in the commercial segment for more than four years.

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 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.

Alongside its capacity expansion plans, Qcells has achieved significant milestones in developing turnkey energy solutions for the residential, commercial, and utility sectors, demonstrating its commitment to serving diverse customers’ needs across three segments.

Qcells is pursuing the Electronic Product Environmental Assessment Tool (EPEAT) ecolabel for some of our solar panels. EPEAT is a globally recognized, voluntary label that helps purchasers identify low-carbon solar panels and inverters. Such ecolabels allow customers to confidently partner with solar manufacturers like Qcells, who are committed to being a leader in sustainability and reducing the solar industry’s climate footprint.

Qcells CEO Justin Lee said: “Qcells stands by the quality of its products and is proud that our customers agree that we’re a reliable choice for solar. We are building a company that wants to go above and beyond for our customers, making it easy for them to take advantage of the clean energy technology that is affordable, reliable, and sustainable.”


About Qcells

Qcells is one of the world’s leading clean energy companies, recognized for its established reputation as a manufacturer of high-performance, high-quality solar cells and modules, portfolio of intelligent storage systems, and growing international pipeline of large-scale renewable energy projects. Qcells also provides renewable electricity retail services and packages to end customers the world over. The company is headquartered in Seoul, South Korea (Global Executive HQ) with its diverse international manufacturing facilities in the U.S., Malaysia, China, and South Korea. Qcells offers Completely Clean Energy through the full spectrum of photovoltaic products, storage solutions, renewable electricity contracting and large-scale solar power plants. Through its growing global business network spanning North America, Europe, Asia, South America, Africa and the Middle East, Qcells provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental and residential markets. For more information, visit: https://qcells.com/us/

Safe-Harbor Statement

This press release contains forward-looking statements. 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 Qcells’ 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, Qcells does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Leaderboard Report Disclaimer

The data and information provided by Wood Mackenzie should not be interpreted as advice and you should not rely on it for any purpose. You may not copy or use this data and information except as expressly permitted by Wood Mackenzie in writing. To the fullest extent permitted by law, Wood Mackenzie accepts no responsibility for your use of this data and information except as specified in a written agreement you have entered with Wood Mackenzie for the provision of such of such data and information.

Marta Stoepker, Public Relations Director
Qcells North America

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