Hanwha Q CELLS partners with Solarcentury on 1.5 MW residential London solar project
- solar developer Solarcentury installed the Q CELLS modules atop 600 London households in the second half of this year
- The installation project is part of the Mayor of London’s Solar Together London scheme, launched across five city boroughs of Brent, Ealing, Kingston, Merton and Sutton
- Bid partner IKEA also participated in the project, which enables homeowners to receive solar systems at an average 35% discount against market rates
[Berlin, Germany, September 21, 2018] Hanwha Q CELLS GmbH ("Hanwha Q CELLS"), the German subsidiary of one of the largest solar cell and module manufacturers in the world, Hanwha Q CELLS Co., Ltd. (NASDAQ: HQCL), has supplied its award-winning Q.PEAK DUO-G5 half-cell modules as part of an innovative residential solar project in the British capital, London.
The Solar Together London Scheme, which was launched in March this year, invited homeowners living in five London boroughs – Brent, Ealing, Kingston, Merton, and Sutton – to express interest in having a rooftop solar array installed. The scheme then pooled all applicants together, with solar installers invited to lodge tenders for the project under a typical reverse auction scheme.
Homeowners offered discounted solar systems under a ‘bulk-buy’ programme
Solarcentury won the one-day auction process having demonstrated – alongside its bid partner IKEA – how it could deliver savings of approximately £1,400 on a ten-panel system. Depending upon the size of the array, the 600 homeowners that are included in the scheme will receive savings of between 10% and 41%. Once completed, approximately 1.5 MW of new solar PV capacity will have been installed across the five boroughs, with the majority of customers opting for the high performance offer using Hanwha Q CELLS solar modules.
These cost savings are arrived at through ‘bulk-buying’ solar panels into one single purchase. Homeowners fund the purchase themselves, but by grouping together, they can enjoy sizable discounts. Businesses are also invited to register their interest in the scheme.
After winning the reverse auction, developer Solarcentury partnered with Hanwha Q CELLS to install the Q.PEAK DUO-G5 solar modules. The Q.PEAK DUO-G5 is a half-cell module that offers excellent aesthetics and a high power yield for minimum LCOE. The three junction box design also aids installation flexibility, ensuring that optimum yield output is possible on all types of roofs, while the half-cells also boost low-light performance – an attractive additional feature for a climate such as London’s.
This project is part of the Mayor of London’s £34 million Energy for Londoners Programme, which aims to not only lower electricity bills throughout the capital, but to also boost the uptake of solar PV to 1 GW by 2030 through the Solar Together London initiative.
Sean Collier, Head of Sales UK at Hanwha Q CELLS, remarked: “Such innovative schemes designed to make solar more accessible to homeowners in London are to be applauded. We hope the capital demonstrates to the rest of the country that residential solar is an affordable, reliable and attractive proposition, and for that reason, Hanwha Q CELLS is very pleased to be involved in the Solar Together London programme.”
Gary Watson, Solar Together London Project Manager at Solarcentury, remarked: “We are delighted to have won this highly sought-after contract. Together with IKEA, we offer both the best value and highest quality products, amply demonstrated by our selection of the Q.PEAK DUO-G5 for the high performance package.”
About Hanwha Q CELLS
Hanwha Q CELLS Co., Ltd. (NASDAQ:HQCL) is one of the world´s largest and most recognized photovoltaic manufacturers for its high-performance, high-quality solar cells and modules. It is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ) with its diverse international manufacturing facilities in Malaysia and China. Hanwha Q CELLS offers the full spectrum of photovoltaic products, applications and solutions, from modules to kits to systems to large-scale solar power plants. Through its growing global business network spanning Europe, North America, Asia, South America, Africa and the Middle East, the company provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental and residential markets. Hanwha Q CELLS is a flagship company of Hanwha Group, a FORTUNE Global 500 firm and a Top 10 business enterprise in South Korea. For more information, visit: http://www.hanwha-qcells.com.
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’ 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. Further information regarding these and other risks is included in Hanwha Q CELLS filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, Hanwha Q CELLS does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Hanwha Q CELLS GmbH
Jochen Endle, Ian Clover
Tel: +49 (0)3494 6699 10121