LG Electronics to expand in US solar module market
Sep 4, 2014 - The US unit of South Korean electronics major LG Electronics Inc (KRX:066570) said yesterday it has entered into a sales partnership for the distribution of 24 MW of its photovoltaic (PV) modules with US solar project installer Borrego Solar Systems Inc.
LG Electronics USA Inc will deliver both Mono X and Mono X NeON panels, which will be offered on the US commercial market through 2015. The high efficiency solar modules will expand the number of LG products in Borrego Solar’s portfolio, LG said in a press release..
The MonoX NeON series have a capacity of up to 305 W and a 18.6% module efficiency. They produce electricity both from the front and the back and are among the lightest solar modules on the market, LG added.
Another benefit for Borrego is that LG’s modules will not be subject to the US Department of Commerce’s (DOC) duties on imports of crystalline silicon PV products from China and Taiwan, said CEO Mike Hall. Last month DOC imposed preliminary anti-dumping tariffs of up to 165% on Chinese and Taiwanese manufacturers on top of preliminary anti-subsidy tariffs of between 18.56% and 35.21% in June.
Borrego Solar finances, designs, develops and installs solar systems in the US. It has delivered more than 150 MW in North America.