Hanwha Q Cells Corp., a solar power unit of South Korean conglomerate Hanwha Group, has come with a new marketing strategy to expand retail sales on top of its focus on large-sized solar power projects.
That means the global No. 1 solar cell producer will sell components for residential solar power installations. The decision comes after the United States Trade Representative announced safeguard tariffs on imported solar cells and modules, which went effective last February.
A company official said on Monday the new marketing strategy follows a surge in new rooftop solar panel installations at residential properties in Korea, Europe and Japan.
Hanwha Q Cells sells photovoltaic modules made with cells from its factories. One module consists of 60 or 72 cells. Hanwha Q Cells has a module capacity of around 8GW per year, the world’s second highest level.
The new marketing strategy draws attention as it is overseen by Hanwha Group chairman Kim Seung-youn`s eldest son and heir-apparent Dong-kwan.
Under the new strategy, Hanwha Q Cells is expected to quadruple the number of its frontline shops called Q Partners in Europe from 200 in 2016 to up to 800 this year. Q Partners in Japan, the largest solar power market in the world, will also increase from 600 in 2016 to up to 900 within this year.
In line with the company’s new global initiative, Hanwha Q Cells’ Korean operation is increasing its footprint by participating in the government’s project to distribute solar-powered homes this year. Hanwha Q Cells Korea is also offering a one-stop service for individual investors to cover such areas as investment consulting on solar power plants, regulatory approval and construction.
By Moon Ji-woong and Minu Kim
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