Oct 19 2010
LG Electronics Inc has declared its entry into the commercial solar industry of North America in the Solar Power International 2010.
The company is making preparations to bring out its multi-crystalline and mono-crystalline modules during the meet. The modules said to offer increased cell output for capturing and storing solar energy, are ideal for on-grid applications such as commercial, residential and utility related usages.
According to Geoff Slevin, LG Electronics North America’s Vice President of Solar Division, the company wanted to bring in its worldwide knowledge in marketing solar panels that are used for commercial and residential rooftop applications in its debut in the US solar market, while taking advantage of its secure presence in the consumer and business-to-business commercial market of North America. He added that the solar market in US will witness a tremendous growth in the coming years partially due to the liberal incentives offered by the state and federal governments. He brought into spotlight some of the key characteristics of the new PV modules and solar films such as MWT Module, RIE module, Tandem Thin Film, high power multi-crystalline module, and mono-crystalline module manufactured by the company. He also highlighted the other exclusive features such as exclusive light weight frame design with a facility to drain out liquids both in the horizontal and vertical orientation, high level of 5400Pa load capability and use of anodized frames for durability.
The introduction of LG solar panels in the US market also symbolizes the intention of the company to increase its world wide solar business to the tune of $2.4 billion by 2015. The company has announced its intentions to invest over $820 million in the coming five years in its research and production facilities to augment production capability to over and above 1 GW.