Here’s why we’re not concerned, and why we don’t think you should be either
If you’re already a solar-empowered homeowner, or if you follow solar industry developments because you’re potentially interested in going solar in the future, you might be aware that LG has decided to stop manufacturing solar panels. Since Zenernet has been proud to offer LG panels as one of the brands we install, and since we always want to help current or future solar customers stay informed about what industry news means for them, we thought it was appropriate to blog post addressing this development.
The first thing we want to make clear is that if you are a Zenernet customer who currently has LG solar panels on your roof, there is no reason for you to be concerned. LG’s panels are top-quality products, highly rated by independent reviewers, and all warranties will continue to be honored. LG has decided that it doesn’t make sense from a business perspective for them to continue manufacturing and selling new panels, but it isn’t abandoning existing customers, and Zenernet certainly isn’t either. If you need to add to or replace an existing solar system that uses LG panels, our expert energy consultants will be happy to help you pick new panels from one of the other outstanding brands we sell that meet your energy needs and budget.
Since solar energy adoption is continuing to rapidly accelerate, you may be wondering why LG would choose to get out of the solar panel business. LG’s executives cited issues like high costs of raw materials and logistics, and many analysts have also pointed to pressure from lower-priced manufacturers based in China. (Read our recent update on the U.S. government’s tariff policy on Chinese solar system components.) Although it certainly raises eyebrows to hear that one of the world’s largest electronics companies doesn’t think it’s profitable to produce solar panels anymore, LG’s decision is actually a sign of the growing competition in the solar market.
Another important thing to note is that while LG is not pulling out of the market for energy management and storage systems like batteries. These systems will only become more and more important for maximizing the potential of solar and other sustainable energy generation technology, and we’ll continue to proudly partner with LG in this area.
LG has been at the forefront of some important advancements in solar technology, and we’re sorry to see them go. However, there are still many other high-quality, high-value solar panel brands available, and we’re looking forward to the continued improvements in efficiency, quality, and aesthetic appeal that are sure to come. If you schedule a chat with one of our expert energy consultants, we can recommend a system using one of our other panel brands that fits your needs. Although we don’t believe that LG’s exit from the solar panel market is any cause for concern about the future of residential solar, we’ll be happy to answer any questions you may have so that you can decide with confidence whether solar is right for you.