Q CELLS Reaffirms Commitment to Innovation as Brand Reaches 20-Year Milestone in Solar Industry

Twenty years after the Q CELLS brand was born, the Company’s enduring technological excellence continues to shape the solar industry on a global scale.

Twenty years after the Q CELLS brand was born,
the Company’s enduring technological excellence continues to shape the solar
industry on a global scale.

Irvine, United States, December 17, 2019
/PVTIME/ -- Q CELLS (or "The Company"), a world-leading total energy
solutions provider from solar cell and module to energy storage, management and
retail, celebrated the 20th anniversary of the Q CELLS brand - a feat that
underlines the Company's commitment to continued technological leadership that
is "Engineered in Germany" and respected around the world. To mark
this occasion as a fresh-faced 20-year-old, Q CELLS plans to deliver a series
of relevant products and services in 2020.

Specifically, 2020 will be the year that sees Q CELLS expand its portfolio of monocrystalline modules that surpass 20% conversion efficiency. Next year, this 20%-plus efficiency portfolio will take center stage as the entire focus of Q CELLS' 10.7 GW module production capacity is steered towards monocrystalline. The Company believes that monocrystalline technology represents the most effective route towards obtaining the lowest LCOE.

With the shift to mono, Q CELLS will continue to meet the growing appetite for higher power modules - as evidenced with the launch of the Q.PEAK DUO BLK-G6+ module portfolio manufactured with larger M4 wafers that was released in the U.S. in Q3 this year. The Q.PEAK DUO BLK-G6+ boasts an all-black façade for superior aesthetics, power classes of up to 345 Wp, and an extensive 25-year product warranty. Even more next-generation modules in the Q.PEAK DUO series will be unveiled throughout 2020.

Furthermore, the Company keenly understands that the customer's primary concern will remain focused on performance, cost, and reliability over a module's 25-year lifetime.

By producing highly efficient solar modules and pursuing ever-increasing efficiencies in R&D and production, Q CELLS continues to demonstrate the strength of its R&D expertise, R&D investment - which has averaged $80 - $90 million annually for the past five years - its technological leadership, and its firm understanding of meeting customer demands; an understanding that stretches back for two decades.

For more than TWO decades, Q CELLS has consistently delivered

In reaching 20 years in the solar industry, very few other solar companies in the market today can boast such a long history as the Q CELLS brand. This is testament to the strength of the initial Q CELLS vision to deliver "Engineered in Germany" excellence and the Company's ongoing global reach, bankability, and market expertise.

From the Company's German inception in 1999 to its current status as a top-tier, vertically integrated provider of total energy solutions, Q CELLS' journey has closely mirrored that of the solar industry itself: never plain sailing, with some unexpected twists and turns, but ultimately moving towards broad public acceptance and a growing importance in the global energy landscape.

Q CELLS CTO Daniel Jeong said: "Reaching our 20th anniversary is a timely reminder of how Q CELLS continues to set the standards for the solar industry. We are proud of just how advanced our R&D capabilities continue to be, and delivering mono products with over 20% module efficiency shows how we can translate these learnings into current products. Boosting power conversion efficiency remains our priority, which is aided by Q CELLS' ongoing product evolution, including gapless modules, 12 wire technology and many other exciting developments in the pipeline.

"As a brand celebrating 20 years in the industry, we are proud when we look upon our past as well as our current achievements, and further, extremely excited when we look ahead to the future."

In celebrating the brand's 20th anniversary, Q CELLS was also recognized by leading energy research and consultancy firm Wood Mackenzie Power & Renewables ("Wood Mackenzie") as the consistent number one U.S. residential module provider in the industry since the second half of 2018, according to data from its Q4 2019 PV Leaderboard report. Wood Mackenzie's U.S. PV Leaderboard is a quarterly report that publishes the market share of various players within the solar industry, including installers, financiers, inverter manufacturers, and module manufacturers. Q CELLS tops the list for 2019 year-to-date with 27% in the residential module sector.

Q CELLS @ 20 - Notable Milestones

• 1999: Q CELLS is founded in Thalheim, Germany. Global solar capacity: 1 GW
• 2001: Introduces to market the Q6M cell
• 2004: Sets new standard for industry with Q6L 6-inch cell
• 2007: Rolls out its first three busbar cell, the Q6LTT3-G3
• 2008: First Company to ensure hot-spot-free cells with Hot-Spot Protect
• 2009: Opens its first overseas production facility, in Malaysia
• 2010: Moves from cell-only production to module production
• 2011: Hits a world-record efficiency of 19.5% with Q.ANTUM multicrystalline cell
• 2012: Becomes first solar Company to commercialize PERC technology • 2015: Merges with Hanwha SolarOne
• 2015: Achieves world-record efficiency of 19.5% with Q.ANTUM multicrystalline module
• 2015: Signs 1.5 GW module supply agreement with NextEra Energy Resources, LLC
• 2017: Opens Jincheon cell fab in South Korea
• 2019: Reaches milestone of 3 billion Q.ANTUM solar cells
• 2019: Inaugurates largest module facility in western hemisphere - the 1.7 GW fab in Dalton, Georgia, USA

SOURCE: Q CELLS

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