2017 has seen a clear surge in the European solar market. Have you also benefitted from that?
For Europe, last year went overwhelmingly well. We have seen increases of about 70 percent. Interestingly, all European markets experienced a growth rates of 50 percent or more. Demand was particularly high in Germany, Austria, Switzerland, Belgium and the Netherlands.
How many megawatts of capacity have you sold in 2017?
About 170. The market sentiment was very confident. The winning argument for our customers was the great build quality of our panels and our ability to deliver. We have a reputation as a reliable partner, and that has paid off.
How many installing companies buy your products?
We sell to wholesalers, who in turn sell to installing companies. For the latter we have established an LG Pro programme specifically targeted at installing companies, which has about 250 companies participating, half of these in Germany. We intend to expand this programme further. We have come to realise that the participating installing companies increasingly rely on LG – some have even decided to exclusively use our panels. They are clearly satisfied with the quality and the customer service that we offer.
Which panel has sold best?
The Neon has sold above and beyond the rest. The variant with the white rear film generates between 330 and 335 watts, with the black film 320 watts. In addition we also have the Neon R high-performance panel with reverse-side contacts and it generates 360 to 370 watts. Our Mono X can do up to 300 watts. However, we are reducing the proportion of Mono X’s in order to focus more on our high-performance panels.
How are these three products distributed among your manufacturing capacity?
In Gumi in Korea, we are now operating several panel factories with a total capacity of 1.9 gigawatts. Of these, 1.3 gigawatts are Neon, 200 megawatts Neon R and 400 megawatts Mono X.
How has 2018 been so far?
In the first quarter we were able to more than double our turnover compared to the first quarter of 2017. As in a football match, if the first half goes well, you can be more relaxed about rest of the year. The second quarter is also looking favourable, across all European markets.
The weather has not been all that favourable…
Yes, that was a little bit the case in Austria or Switzerland, where they had unexpectedly late snow last spring. But the installing companies went out and built the installations anyway. Respect! Overall, we are cautiously optimistic that the current momentum will continue.
What will the rest of this year bring?
We will introduce a new bifacial 72-cell Neon panel, that will generate 390 watts, with added performance because of the bifacial cells and a transparent reverse-side film. But the customer will only pay for the nominal output: 390 watts. We are thus consistently following our trajectory into the high-performance segment. Also, we will phase out our Mono X’s in Europe by the end of the second quarter. Of course, we will serve all existing orders, but then we will stop offering these panels. (HS)
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