LG Electronics Inc. announced the company’s entry into the North American commercial solar industry. The U.S. solar debut builds on LG’s global expertise in marketing solar panels for residential, rooftop and commercial applications while capitalizing on LG’s strong presence in the North American consumer and business-to-business marketplace, according to industry veteran Geoff Slevin, Vice President, Solar Division, LG Electronics North America.
Launching LG solar panels in the United States also represents a major milestone in the company’s plans to expand its global solar business to $2.4 billion by 2015. LG is investing $820 million over the next five years in its solar cell research and manufacturing to increase production capacity to more than 1GW.