Yesterday was a major loss for the solar industry from one of our long-standing solar partners as LG Electronics announced the decision to cease production and sales of solar panels in Q2 2022.
Following the announcement, LG CEO Dan Lim said:
“LG Electronics Inc. (LG) has carefully evaluated the future direction of the LG solar module business from the perspective of the company’s entire business portfolio, while remaining open to all possibilities. After carefully considering all possible options, LG has announced that it will stop producing and selling solar panels.
“The decision comes as uncertainties in the global solar power market continue to mount due to a variety of factors, including intensifying price competition and rising raw material costs.”
LG’s Australian General Manager of Solar & Energy, Gus Paviani, confirmed that “LG Electronics Australia will continue to provide warranty and after-sales service for LG solar modules during the warranty period and in accordance with applicable regulations.”
Lim added that “LG will continue to stand behind its brand and cover modules during the warranty period beyond the end of panel production in June. By continuing to provide customer service after the closure of our [solar panel] As companies, we will endeavor to minimize the inconvenience to consumers.”
Solaray is a proud partner of LG, having over the years presented LG’s NeON 2, MonoX, MonoX Plus, NeON R, NeON H and this year’s newest addition, the NeON H+ as a core part of our panel offering.
LAST CHANCE: Grab LG NeON H+ before they disappear
Year after year, LG Solar produces the highest quality modules with patented technology that has long kept them at the forefront of the industry.
In response to the announcement, Solaray CEO Jonathan Fisk commented:
“LG panels have always been synonymous with excellence in performance and production.
“They have been designing and manufacturing best in class panels for many years and we are proud to have been recognized as LG’s Australian Installer of the Year for the last four years.”
Solaray Director Peter Thorne added:
“In addition to excellent module performance and longevity, a key benefit of buying solar modules from LG has always been the global consumer strength of the LG brand, giving you confidence that no matter what happens in the solar industry, LG Electronics has reliable warranty support.
“This benefit will come into play in 2022 when LG exits the solar panel sector to focus on other growth areas of its business.
“While we are saddened to see an industry leader exit the solar panel market, we respect their decision.”
Solaray would like to recognize the LG Solar team in Australia, particularly Gus, Anthony, Sean, Danni and Markus, and thank them for their tireless work as ambassadors not only for LG but also for solar and renewable energy. It has been a pleasure working with you over the years.
As they move away from solar panels, we look forward to seeing what groundbreaking sustainable solutions, products and services LG brings to market next.
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