LG Electronics USA And Borrego Solar Join Forces To Bring High-Efficiency Solar Modules To U.S. Commercial Market
Distribution Agreement Covers 24 Megawatts of LG Mono X® and Mono X® NeON Panels through 2015
ENGLEWOOD CLIFFS, N.J., Sept. 3, 2014 -- LG Electronics USA has joined forces with solar industry leader Borrego Solar Systems Inc. to significantly expand the presence of LG's high-efficiency solar modules in the U.S. commercial market, the companies announced today.
Under the agreement, LG will supply 24 megawatts (MW) of its popular Mono X series solar panels, led by the award-winning LG Mono X NeON modules, through 2015 to Borrego Solar, which will sell to the commercial sector as an LG preferred strategic commercial integrator in North America.
The collaboration aligns with the market's maturation and the move toward higher efficiency products in the commercial sector, while bringing North American customers the greatest value and highest quality photovoltaic (PV) modules on the market. The agreement also adds a greater number of LG Electronics' bankable products to Borrego Solar's portfolio.
LG's Mono X series modules lead the way in solar panel quality and reliability. The Mono X NeON modules, which already have exceptional market traction, are among the lightest modules on the market, delivering high-efficiency output of up to 305 watts with 18.6 percent module efficiency. The Mono X NeON produces energy from both the front and back, which raises cell efficiency. Through new semiconductor technology application for doping and surface treatment processes, cell imperfections have been minimized while uniformity has been maximized, resulting in the Mono X NeON's 21 percent increase in cell efficiency.
"LG has a 30-year track record in solar technologies, and as a result of our pre-existing business relationship with LG, Borrego Solar is confident in LG's brand and ability to deliver superior efficiency, strength of warranty, quality and reliability," said Mike Hall, CEO at Borrego Solar, a leading designer, developer, installer and financier of grid-tied PV systems.
"This agreement allows us to meet rising commercial market demand for top-tier, high-efficiency modules – with the added benefit of not being subject to Commerce Department tariffs on Chinese modules – enabling us to maximize return on investment for our customers and provide the best quality and care throughout a system's lifetime," he said.
For example, San Diego Airport chose the LG Mono X modules for its installation "because they met the airport's high efficiency and sustainability requirements, as well as the system's space constraints," Hall explained. "We've already used LG panels on several MWs of municipal landfill projects in Massachusetts, and we look forward to expanding the portfolio under our new agreement with LG."
"When it came to identifying a trusted and respected commercial PV integrator and industry leader to expand the penetration of our high-efficiency modules in commercial markets, Borrego Solar was a natural choice," said Ellen Kim, senior vice president, energy solutions, LG Electronics USA. "Borrego Solar is a leader in the North American market and has experienced first-hand the value that LG products bring to its customers, as LG systems that they've installed have exceeded their expectations. We look forward to a mutually beneficial relationship and the opportunity to expand our offering to the commercial sector."
LG Mono X series modules come with an industry-leading warranty (based on the complete warranty package) and are third-party quality tested and validated. Reliable design and controls contribute to a historically low warranty claim rate in the United States and around the world.
About LG Electronics USA
LG Electronics USA Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $52 billion global force and technology leader in consumer electronics, home appliances and mobile communications. LG Electronics, a 2014 ENERGY STAR Partner of the Year, sells a range of stylish and innovative home entertainment products, mobile phones, home appliances, commercial displays, air conditioning systems and solar energy solutions in the United States, all under LG's "Life's Good" marketing theme. For more information, please visit www.lg.com and www.lgsolarusa.com.
About Borrego Solar
Established in 1980, Borrego Solar Systems, Inc. is one of the nation's leading financiers, designers, developers and installers of commercial and utility solar power systems. Borrego Solar's photovoltaic systems are efficient, reliable and cost-effective. With more than three decades of experience and more than 1,000 solar power installations completedótotaling over 150 MWóBorrego Solar offers a complete line of solar system design and installation services throughout North America. Borrego Solar was recently ranked as the #2 commercial EPC in the United States and the #2 commercial contractor in California by Solar Power World. For more information, visit www.borregosolar.com.