LG decided to abandon solar markets

[Will792]

Somewhat unexpectedly LG decided to abandon solar markets: https://www.lg.com/us/notice-2

They would still provide warranty for their panels but I suspect it would be somewhat difficult to get exact replacement units. I have 52 LG panels on my house roof and not too worried about potential warranty claims but definitely it is disappointing. Somewhat doubtful that I’ll go ahead with the original plan of replacing 20 Suniva panels with LGs.

[PVAndy]

HUNTSVILLE, Ala., Feb. 22, 2022 /PRNewswire/ --LG Electronics Inc. is exiting the global solar panel business. The decision, approved Feb. 22 by the LG board of directors in South Korea, follows a comprehensive review of the impact of increasing material and logistics costs, as well as severe supply constraints, on the solar business.

Although panel production will wind down this spring, LG will continue to support its U.S. solar customers for years to come. LG stands behind its brand and will honor the limited warranty with each product sold. In addition, U.S. consumers, installers and contractors will benefit from LG's increased focus in other energy-related business areas, according to Thomas Yoon, president and CEO, LG Electronics North America.

[oregon_phil]

Somewhat unexpectedly LG decided to abandon solar markets: https://www.lg.com/us/notice-2

They would still provide warranty for their panels but I suspect it would be somewhat difficult to get exact replacement units. I have 52 LG panels on my house roof and not too worried about potential warranty claims but definitely it is disappointing. Somewhat doubtful that I’ll go ahead with the original plan of replacing 20 Suniva panels with LGs.

I have 28 LG panels on my pole barn and feel disappointed too. I have Tigo TS4-R-O's on all panels which are suppose to allow up to 25% voltage or current mismatch between panels. A spare solar panel is the only spare I didn't buy, but I'm not too worried about it.

[silversaver]

Bosch exist solar back in 2013. I pick up 29 of their panels at great deal save one for spare. They are 8+ years old still running and the spare panel still collecting dust.

[SunEagle]

Without going through their press release does anyone know what is the bottom line as to why they are getting out of the solar panel market?

[Ampster]

Without going through their press release does anyone know what is the bottom line as to why they are getting out of the solar panel market?

Here is one theory:
https://renewablesnow.com/news/lg-to...ile-up-774363/

The article says they were affected by material shortages and supply chain issues and are going to focus on Energy Storage Systems.

[SunEagle]

Here is one theory:
https://renewablesnow.com/news/lg-to...ile-up-774363/

The article says they were affected by material shortages and supply chain issues and are going to focus on Energy Storage Systems.

I wonder if this will affect their appliance market.

[Ampster]

I wonder if this will affect their appliance market.

They have come a long way since their Lucky Goldstar days. I just installed an LG minisplit system and have no worries about their other product lines. The LG Chem portion of their business just took a big hit because of battery recalls on Chevy Bolts, Kias and Hyundais. The Chaebols in Korea have lots of hidden reserves, which is why I am not concerned.

[heimdm]

My guess is the profit margin on panels was becoming such a commodity. or a race to zero. Now they will work on their battery storage system.. make them stop catching fire in cares and residential batteries as well.