LG Electronics Enters Solar Business in North America
LG Electronics Inc. announced the company’s entry into the North American commercial solar industry. The U.S. solar debut builds on LG’s global expertise in marketing solar panels for residential, rooftop and commercial applications while capitalizing on LG’s strong presence in the North American consumer and business-to-business marketplace, according to industry veteran Geoff Slevin, Vice President, Solar Division, LG Electronics North America.
Launching LG solar panels in the United States also represents a major milestone in the company’s plans to expand its global solar business to $2.4 billion by 2015. LG is investing $820 million over the next five years in its solar cell research and manufacturing to increase production capacity to more than 1GW.
"The U.S. is one of the fastest growing solar markets in the world and is expected to grow significantly over the next several years, in part due to federal and state incentives," said Slevin, who joined LG this year from Carlisle Energy Services and BP Solar.
"LG’s commitment to solar in the U.S. comes at just the right time to meet market demand for solar power with high-quality, sustainable and innovative products that consumers and businesses alike have come to expect from a global technology leader."
LG Electronics is unveiling photovoltaic (PV) modules including high-performance multicyrstalline modules and monocrystalline modules. Well suited for a variety of installations including on-grid general applications such as residential, commercial and power generation for utilities, LG’s PV modules provide high-level materials and cell efficiencies for capturing and storing energy.
Slevin highlighted key features of the new PV modules, including a unique light weight frame design that drains liquid even when installed at tough horizontal and vertical angles, internal mechanical load standards (5400Pa), and frame anodizing to improve the module frame’s durability.