[Seoul, South Korea, July 5, 2021] Qcells has announced today that it has signed a memorandum of understanding (MoU) with Samsung Electronics to strengthen both companies’ strategic cooperation and create synergy in the global residential energy market.
On July 2, 2021, at Qcells’ global headquarters in Seoul, South Korea, Hee Cheul (Charles) Kim, CEO of Qcells, and JaeSeung Lee, President and Head of Digital Appliances Business at Samsung Electronics, signed the agreement, which aims to support the growth of zero energy homes by connecting the devices and software platforms of both companies to provide comprehensive energy services. These services include energy generation, energy storage, power consumption, and intelligent energy management.
‘Zero Energy Home’ is a concept that efficiently uses energy directly produced in the home to enable homeowners to achieve energy independence and reduce their carbon emissions. It is comprised of ‘active technology’ - producing energy through renewables like solar - and ‘passive technology’ using devices that minimize energy losses.
As a world-renowned total energy solutions provider, Qcells’ role in the business partnership is to provide solar modules and energy storage systems (ESS) to customers, as well as Qcells’ self-developed home energy management system, Q.ONNECT. This combination of hardware and software allows homeowners to collect and manage all data on energy generation, storage, and total usage in real time. In addition, Q.ONNECT will provide the optimal ESS operation service based on the expected charging amount data according to the local weather forecast.
This data, when linked to Samsung Electronics’ SmartThings platform, will give homeowners more control to optimize home energy use. SmartThings is Samsung’s open smart home platform that can link to Samsung and non-Samsung devices, empowering users to manage their home appliances from one central hub. Together with Qcells technology, the SmartThings Energy service will give homeowners a clearer view of how energy is consumed by heat pumps and appliances, letting them set up a more sustainable energy management plan.
In addition, the two companies plan to develop business cooperation such as joint sales mainly in the U.S. and Europe, where the residential energy market has matured, as well as domestic and overseas demonstration projects.
Qcells’ Mr. Kim said: “Through close cooperation between two Korean companies, we expect to provide our global customers with competitive energy solutions. We hope that the synergy with Samsung Electronics will strengthen our leading position in the global residential energy market.”
Samsung Electronics’ Mr. Lee added: “Through active cooperation with Qcells, Samsung looks forward to expanding our presence and strengthening our brand in global markets. We anticipate great synergy between Samsung Electronics’ smart home appliances and SmartThings platform, and Qcells’ solar energy and storage solutions.”
About Qcells
Qcells is a renowned total energy solutions provider in solar cell and module, energy storage, downstream project business and energy retail. It is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ) with its diverse international manufacturing facilities in the U.S., Malaysia, China, and South Korea. Through its growing global business network spanning Europe, North America, Asia, South America, Africa and the Middle East, Qcells provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental and residential markets. For more information, visit: www.q-cells.com.
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