Meyer Burger to get in United States market with Heterojunction solar panels in 2021

• Meyer Burger has actually accelerated strategies to target the United States premium household rooftop market with its heterojunction (HJ) PV modules.

Having actually been buoyed by the Biden presidency's very early support for solar as part of plans for the country to get to 100% carbon-free power generation by 2035, while additionally sustaining eco-friendly plans for economic healing post-pandemic, Meyer Burger claimed it would certainly go into the US market in 2021, compared to previous plans of market access at some time in 2022.

Meyer Burger is on target to start initial production procedures for both its HJ solar cells as well as module assembly in Germany in the May/June period, with deliveries anticipated to start in June/July after complete module certifications are achieved.

Originally, Meyer Burger intended to concentrate on the European market in 2021, having just 400MW of annual nameplate ability yet a well-known distribution network and well established demand for 'German'- made PV modules, along with a well established high-end domestic roof market seeking high-performance items.

Former client as well as now competing REC Solar launched its 'Alphas' Series HJ modules, based upon Meyer Burger technology, at Intersolar Europe in 2019 to much excitement and strong preliminary orders from major European suppliers. REC Solar has 600MW of HJ module capacity.

Doing the same, Meyer Burger intends to formally introduce its as-yet-unnamed first series modules at Intersolar Europe set for July 2021, depending on COVID-based constraints.

Preliminary "significant" US orders and shipments to the US are currently also anticipated in 2021, according to Meyer Burger.

The supply of high-end efficiency modules to the United States residential rooftop market is dominated by SunPower, LG, Panasonic and also REC Solar. Although, enduring player SunPower only accomplished sales of around 390MW in the United States in 2020.

Meyer Burger still plans to raise annual ability to 1.4 GW of cell and also 0.8 GW of module production in 2022. This hinges on the company elevating around CHF180 million (US$ 194.5 million) of financial debt by the begin of 2022.

Financials

Meyer Burger reported full-year 2020 earnings (under its old PV equipment organization model) of CHF90.5 million and a net loss of CHF64.5 million.

Having actually elevated funds in 2020 to transition to a PV module maker, Meyer Burger finished the year with a net cash position of CHF139.7 million.