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REC’s Q2 2017 Solar Market Insight Report

Oslo, Norway - The REC Group has released its Solar Market Insight report for Q2 and the first half of 2017.

Thanks to its award-winning TwinPeak technology and newly-launched products, the premium panel manufacturer shipped 301 MW of solar panels in Q2 2017, with a strong 123 MW to the EMEA region, followed by the U.S. and APAC. While REC continues to upgrade its manufacturing lines to 100% PERC technology, REC has launched four new products so far in 2017, including the world’s most powerful 60 and 72-cell multicrystalline panels, helping to increase the number of deals by 140% in the first half of 2017, and grow its customer base by nearly 60 percent year-over-year.

Based on the growing of its national distribution network, REC Group has enjoyed tremendous growth in the flourishing Indian solar PV market during H1 2017. REC shipments to India showed a nine fold growth to 112 MW.

“Moving into the second half of the year, we can proudly affirm our best-ever sales pipeline of firm orders as well as order bookings. This will lead to a growth in shipments across all regions in 2017,” expects Steve O’Neil, CEO at REC Group. “Moreover, we have a very balanced approach to serve all segments – rooftop and ground-mount – thanks to REC’s broad portfolio of premium products, high quality and reliability, as well as competitive cost.”

To support its technology leadership and competitive cost position, REC Group began in Q2 2017 shifting its entire multi-silicon wafer slicing to latest generation of diamond wire cutting technology. This investment will enable the industry leader for high-power multicrystalline solar panels to further cement its position and reputation as a highly trusted brand with the most reliable products.

Source: IWR Online, 16 Aug 2017