Hanwha Q Cells ranked the top position in the U.S. residential and commercial solar module market in the third quarter of this year.
According to a survey conducted by Wood McKinsey, an energy consulting company, on Dec. 23, Hanwha Q Cells ranked first for the ninth consecutive quarter with a 27.4% share in the U.S. residential solar module market.
The company also maintained its No. 1 position in the U.S. commercial solar module market for the fourth consecutive quarter with a 22.2 percent market share in the third quarter.
The cumulative market share for Hanwha Q Cells this year was 20.8 percent, more than double that of China's JA Solar (10.1 percent).
Based on a report by Wood McKinsey, the size of the market in the third quarter of 2020 was about 738 MW (megawatt), similar to the size of the market in the third quarter of last year.
Market research firm Bloomberg New Energy Finance (BNEF) also said that the U.S. residential solar facilities installed in the first seven months of this year increased 21% compared to the same period last year (January-July).
"The simultaneous No. 1 ranking in the U.S. residential and commercial markets, which prefer high-efficiency and high-quality products, showed Hanwha Q Cells’ brand power," said Hanwha Q Cells CEO Kim Hee-chul.