LG Enters U.S. Solar Market

December 6, 2010
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LOS ANGELES - LG Electronics Inc. announced its entry into the North American commercial solar industry at the Solar Power International 2010 conference. LG’s U.S. solar debut builds on the company’s global expertise in marketing solar panels for residential, rooftop, and commercial applications.

Launching LG solar panels in the United States 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 1 gigawatt.

“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 Geoff Slevin, vice president of the solar division for LG Electronics North America. “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.”

At the conference, LG Electronics unveiled photovoltaic (PV) modules, including high-performance multicrystalline modules and monocrystalline modules. Slevin highlighted key features of the new PV modules, including a unique lightweight frame design that drains liquid even when installed at tough horizontal and vertical angles, internal mechanical load standards (5,400Pa), and frame anodizing to improve the module frame’s durability.

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Publication date: 12/06/2010

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