Hanwha SolarOne Co., Ltd., a global photovoltaic manufacturer of high-quality, cost-competitive solar modules, announced on January 7th it has reached a memorandum of understanding ("MOU") with OneRoof Energy, a complete solar services provider, to supply up to 50 megawatts of Photovoltaic ("PV") modules. Hanwha SolarOne and OneRoof Energy intend to enter a supply agreement to establish a reliable supply of modules for OneRoof Energy, as well as to work together to identify and develop new and next generation products for the residential market that will enhance energy yield, improve bankability and increase residual value, and engage with downstream suppliers to improve PV system efficiencies and lower the levelized cost of energy to homeowners.
Mr. Min-Su Kim, President of Hanwha SolarOne commented, "OneRoof Energy is well positioned in the burgeoning residential rooftop financing market in the U.S. where in large markets like California, industry sources estimate about three-fourths of all solar installations were the result of third-party financing. Our proven modules will play an important role in meeting OneRoof Energy's performance and product warranty customer guarantees."