Qcells Boosts US Solar Production in Georgia with New Complex
Hanwha Q Cells Co., a leading solar power unit of South Korea’s Hanwha Group, has made a significant investment in the US market with the opening of its new solar module plant in Cartersville, Georgia. The completion of this production complex marks a key strategic move for the company as it aims to capitalize on US federal benefits and solidify its position as a major player in the global solar photovoltaics market.
The Cartersville complex, part of Qcells’ solar energy hub in the US, boasts an annual solar module production capacity of 3.3 gigawatts (GW), bringing the company’s total module capacity in the US to an impressive 8.4 GW. This capacity is projected to supply electricity for approximately 1.3 million households in the US each year.
With the addition of the Cartersville facility to its production portfolio, Qcells is set to become the sole company in North America capable of manufacturing across the entire solar photovoltaics value chain. The company’s ambitious plans include producing 3.3 GW of ingots and wafers, 12.2 GW of cells, and 11.2 GW of modules annually in the US by next year. These expansions and enhancements in efficiency are expected to position Qcells as a dominant force in the US solar market.
CEO of Hanwha Q Cells, Lee Koo Yung, emphasized the company’s commitment to strengthening its presence in key strategic markets such as the US through capacity expansions and renewable energy initiatives. The company’s ambitious growth plans demonstrate its vision for sustainable growth and innovation in the solar industry.
In addition to increasing production capacity, Qcells is also focused on maximizing its utilization of US federal benefits, particularly through the advanced manufacturing production credit (AMPC) under the Inflation Reduction Act (IRA). By leveraging these incentives, Qcells anticipates a potential increase of $140 million in federal tax credits once the Cartersville factory reaches a production milestone of 2 GW.
To further enhance its competitive edge, Qcells is exploring partnerships with other Hanwha Group subsidiaries, such as REC Silicon ASA and Hanwha Advanced Materials Corp. By utilizing REC Silicon’s eco-friendly polysilicon produced in Washington and sourcing EVA sheets from Hanwha Advanced Materials near the Cartersville complex, Qcells aims to optimize its supply chain and maximize federal benefits.
The company’s strategic initiatives underline its commitment to sustainable growth and innovation in the US solar market. With its expanded production capacities, comprehensive value chain capabilities, and strategic partnerships within the Hanwha Group, Qcells is well-positioned to lead the way in the renewable energy sector and capitalize on the growing demand for solar energy solutions.
For more information, please contact Hyeon-woo Oh at ohw@hankyung.com. Jongwoo Cheon edited this article.
Qcells, a solar power unit of South Korea’s Hanwha Group, has opened a solar module plant in Cartersville, Georgia, to take advantage of US federal benefits and solidify its position in the solar photovoltaics market. With a production capacity of 3.3 gigawatts, the Cartersville complex has made Qcells the largest silicon solar module maker in the US, with a total capacity of 8.4 gigawatts. This move aligns with Qcells’ goal to lead in key markets like the US by expanding renewable energy businesses while increasing capacity.
By utilizing federal benefits and partnering with REC Silicon for eco-friendly polysilicon, Qcells aims to maximize its potential tax credits and boost its production capabilities. Additionally, the company plans to source EVA sheets for solar modules from a local factory near the Cartersville complex, further enhancing its sustainable practices.
Overall, Qcells’ investment in the Cartersville complex reflects a larger trend in the energy industry towards expanding renewable energy production and leveraging government incentives to drive growth and innovation.