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Feature – Hyundai Solar

This week Energetic Consulting Australia is featuring Hyundai Solar panels.

Many years ago I started in the electrical sector, which of course later turned into a 100% solar and renewables focus back in the noughties from 2004. Having seen sub-par equipment and manufacturers come and go, and having been involved in the installation of thousands of solar systems around Australia from kilowatt to megawatt scale, I understand just how critical it is to choose the right equipment.

So let’s take a deeper look at Hyundai Solar and put them through our own solar panel and company evaluation.

Who is Hyundai Solar?

Hyundai Heavy Industries Green Energy (Hyundai Solar), a member of Hyundai Heavy Industries Group, who is the world’s largest shipbuilding conglomerate from South Korea since 1972, offers high quality and endurance photovoltaic modules since 2004.

Having exited the market in 2011 with 10MW worth of installed panels, in 2018 the company re-entered the Australian market signing an exclusive distribution agreement with solar distribution company, Supply Partners, valued at A$70M in the initial term.

Hyundai Heavy Industries Green Energy has deployed modules to more than 50 countries and completed various utility/commercial projects worldwide. International testing labs VDE, CE, TUV SUD and UL have certified Hyundai to do a large proportion of quality assurance testing and test preparation in-house.

Hyundai is also one of the biggest consumer brand names in the world market and leaders in many industry sectors. Forbes rates Hyundai 75th Most Valuable Brand in the world and #81 Top Regarded Companies in 2018.

Products

Energetic-Consulting-Hyundai-Solar-Panels

There are two Hyundai Solar panel ranges available in Australia. The RG Series 300W 60 Cells used for the residential market, and the R1 Series 360W 72 Cells used for commercial installations. Though these are the two products listed on the website, in fact there are 14 products approved and listed on CEC “Approved Modules List”.

 

 

 

Primary Evaluation Criteria

My primary criteria for the evaluation:

  1. Is the product presently on the CEC approved list? YES – There are 14 variations of the Hyundai Solar solar panels listed on the CEC approved panels list – 8 May 2019.
  2. Is the product presently represented in Australia? YES – The brand is represented by their exclusive distributor Supply Partners in Australia.
  3. Does the product have more than 2 years’ experience in Australia? YES – The company initially ha a presence in Australia from 2009 to 2011 before they exited the market. They then re-entered in 2018 until present. The company has however serviced it’s products in Australia right from from 2009.
  4. Does the product have more than 5 years manufacturing experience? YES – They have manufacturing solar panels since 2007, after establishing the solar business in 2004.
  5. Does the product have production facilities >300MW? YES – 2GW of total global production.
  6. Does the manufacturer have ISO:9001 and ISO:14001? YES – ISO:9001, ISO: 14001 and additionally ISO:18001.
  7. Is the company stock exchange listed and what is the share price? YES – (009540) HYUNDAI HEAVY INDUSTRIES CO., LTD. = 121,500 KRW on 25.6.19
    (009540) http://english.hhi.co.kr/ir/stock_price03
  8. Is the product imported by more than 1 Australian wholesaler? NO – Under a $70M deal, the brand is represented by their exclusive distributor Supply Partners in Australia.

Secondary Evaluation Criteria

What marks of independently-assessed international quality do they bear?

According to their data sheet for the latest 300watt HiA-S300RG series panel they have the following independent quality stamps:

  • TUV SUD
  • CE
  • UL

Hyundai’s R&D centre is an accredited test laboratory of both UL and VDE which is pretty rare.

Do they have 5 years of experience in Australia?

Hyundai solar panels have been installed in Australia since 2009, though there was a market exit between 2011 and 2018, 10MW worth of the products were still installed and operational the entire time and fully warranted before the re-entered the market in 2018.

So they have well over 5 years in terms of supporting product & warranty since 2009. This is their strength – as per the CEC approved PV module list 84% of manufacturers have exited the Australian market in the last 6 years leaving customers without warranty support. Hyundai customers were supported even when they weren’t active in the market.

Conclusion

Hyundai Solar panels have been installed in Australia since 2009 and fully backed by the company, though they weren’t active between 2011 and 2018.

They have high manufacturing volumes at around 2GW total production globally, and the parent company to Hyundai Heavy Industries Green Energy (Hyundai Solar), is Hyundai Heavy Industries Group, who is stock exchange listed and has a long history of manufacturing dating back to 1972.

Hyundai Heavy Industries Group has annual revenue in excess of $30B and 30+ years in business. As a fully diversified business we feel comfortable in Hyundai’s ability to service warranty claims and support their products for the long term in Australia.

The company has both ISO:9001 and ISO:14001 certifications which offers real certainty in their manufacturing process and operating procedures.

The product meets all of our primary evaluation criteria except being imported by more than one wholesaler, which is a minor point as Hyundai committed to a $70M deal with Supply Partners to exclusively distribute the product which I see as a very substantial commitment to the Australian market. 

Our secondary evaluation criteria were met, having received independently-assessed international quality stamps from several authorities and more than 5 years experience in Australia.

Energetic Consulting Australia has no hesitation in endorsing the Hyundai Solar company and panels as a premium quality product of the highest standards, and amongst the best solar panels available in Australia.

Hyundai Solar has shared a registration page for solar retailer and installer companies wishing to apply to become an Authorised Dealer. CLICK HERE

Article by Russell French – Founder of Energetic Consulting Australia

Energetic-Consulting-Founder-Russell-FrenchRussell is a veteran of the Australian renewable energy industry of 15 years and an innovative business leader with a proven track record spanning over 20 years.

He has served as a Director for several well known renewable energy companies like:

  • Enphase Energy as their APAC Director and Australian Country Manager and brought the business to Australia and setup their operations in the region
  • Sungrow ($2.2B, world largest solar inverter manufacturer in partnership with Samsung SDI) as their Marketing & Strategy Director
  • Sun Empire as Founder and Managing Director. Sun Empire was a founding company member of the Clean Energy Council of Australia.

Russell has also worked in the award winning Sustainability Strategy team for the City of Melbourne developing the city’s renewable energy and solar program, and helped develop the new Solar & Storage division for one of Australia’s largest energy retailers, Red Energy which is owned by the iconic Snowy Hydro.

He served as the Secretary & Convenor for the Melbourne Chapter of the Smart Energy Council of Australia (formerly Australian Solar Council) for 5 years and is the Founder of Solar Social, a new and innovative meet-up bringing together like minded businesses and professionals to discuss innovation and the latest technology developments.

If you need help with your business or marketing needs, contact Energetic Consulting today and start creating raving fan customers!

 

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Disclaimer

Energetic Consulting Australia supports businesses in the Australian solar industry with various technical and business related services. Energetic Consulting Australia is not in a position to conclusively and objectively evaluate the quality and risks associated with any individual manufacturer or supplier of PV panels, inverters, batteries, or related hardware. As such, this brief article represents the educated opinion of Energetic Consulting Australia, and though we have undertaken our best endeavours to research the supplier in question, all content contained herein should be considered as guidance only. The information contained herein is deemed accurate and correct at the time of publication, but cannot be warranted against changes subsequent to the time of publication, or including any omissions or errors therein, arising through negligence or otherwise however caused. This report is not intended or offered as legal, investment, financial, business, insurance, tax, or other advice. This article is offered for information purposes only and the reader uses this material assuming all risk upon themselves. Energetic Consulting Australia assumes no liability for the use (or misuse) of the material contained herein or any of the related materials.

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