Japanese electronics manufacturing major Panasonic Corporation has decided to withdraw from the solar and battery storage sector to concentrate on its core business areas.
In a brief statement on its North America website, the company stated, “We have made the decision to discontinue our solar and battery storage business line. This change allows us to focus on areas where we can have the greatest strategic impact. We remain confident in the technology and grateful to our partners and customers who have supported this journey.”
Panasonic had earlier announced that it planned to halt solar PV production in Malaysia and Japan by March 2022, while continuing to sell outsourced modules under its brand in Japan and North America. Media reports had attributed its decision to fierce pricing competition from the Chinese (see Panasonic Exiting Solar PV Production Business).
While Panasonic’s official statement did not specify any details, in a company communication to its partner installers shared by a Reddit user, Panasonic Eco Systems North America President Naoki Kamo called it a strategic decision. “While we continue to believe in the potential of solar and energy storage, it is no longer the right business fit for us at this time,” stated Kamo.
The decision comes amid intensifying competition in the solar sector, where overcapacity has driven down module prices and pressured manufacturers' profit margins.
Panasonic pioneered heterojunction (HJT) solar module production after acquiring Sanyo in 2009, fully integrating it in 2011. The latter developed the HJT technology using an intrinsic amorphous layer between doped and crystalline silicon in 1990. Today, HJT is known to achieve high cell and module efficiencies.
Panasonic will, however, continue to provide customer support to existing customers and newer ones who are undergoing installations and commissioning of its solar modules and battery energy storage systems. It will also honor warranties and support for 3rd party warranties.
