Renewable Energy Corporation

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REC Group (REC)
Industry Solar energy
Founded 1996
Number of locations
Singapore; USA (San Mateo, CA); Germany (Munich); India (Gurugram); Japan (Tokyo); Australia (Melbourne)
Area served
Worldwide (Americas, EMEA, APAC, Japan)
Products Solar panels
Production output
1.4 GW (2016) in Singapore
Number of employees
2,000 (2016)
Parent Elkem Group
Website www.recgroup.com

REC Group (REC) is the leading European brand of solar panels and a vertically integrated solar energy company. REC manufactures silicon, wafers, cells, high-quality solar photovoltaic (PV) panels, and also provides turnkey Engineering, Procurement and Construction (EPC) solutions. REC’s renowned product quality is supported by the lowest warranty claims rate in the industry.[1][2]

REC was founded in Norway in 1996 and has since come a long way; from hand-washing its first wafer to producing a cumulative total of 26 million panels in its history at end-2016.[3] REC is headquartered in Norway, with operational headquarters in Singapore. The company employs 2,000 people worldwide, with regional offices, local representatives, and partnerships in Europe, USA and Asia-Pacific regions to help meet the world’s growing energy needs.

Initially, the letters R-E-C stood for "Renewable Energy Corporation". Today, the company is known simply as "REC".

Company history[edit]

The early days 1996 REC established in Norway
1997 First wafer washed by hand in summer 1997
Industrialization 1997-2010 Production of wafers, solar cells, and solar panels in Scandinavia (Norway and Sweden)
Growth phase 2010 Fully automated and integrated production of wafers, cells, and panels begins at state-of-the-art factory in Singapore
2013 Split of REC Group from Renewable Energy Corporation ASA (now known as "REC Silicon ASA", no)
2015 REC acquired by Norway’s Elkem Group and is delisted from the Oslo Stock Exchange

Solar panels – past & present[edit]

Throughout its history, REC has introduced several highly acclaimed solar panels to the global market for the utilities, commercial and industrial, and residential markets.

2008

REC AE Series

  • Winner: Photon Module Field Test 2011[4]

2010

REC Peak Energy Series

  • Renowned in the industry for performance and reliability

2014

REC Peak Energy 72 Series

  • 72-cell variant of REC Peak Energy Series

2015

REC TwinPeak Series

  • Winner: Intersolar Award (Photovoltaics) 2015[5]
  • World’s first commercially available solar panel with half-cut cells[6]

2016

REC TwinPeak 72 Series

  • 72-cell variant of REC TwinPeak Series[7]

2017

REC TwinPeak 2 Series

  • World’s most powerful 60-cell multicrystalline panel[8]

REC TwinPeak 2 BLK2 Series

  • Uniformly full-black multicrystalline panel[9]

REC TwinPeak 2S 72 Series

  • World’s most powerful 72-cell multicrystalline panel[10]

Operations[edit]

Location Country Type Production
2010 2011 2012 2013 2014 2015 2016
Tuas Singapore Solar panels 525 MW 675 MW 750 MW 820 MW 955 MW 1.2 GW 1.4 GW

Total numbers at end-2016[11]

  • 26 million panels manufactured
  • 6.3 GW produced

REC Group vs. REC Solar in the United States[edit]

REC Group (REC) is a leading manufacturer and brand of solar panels. REC panels are distributed and installed all over the world. REC’s sales operation is divided into four regions: EMEA (headquartered in Munich, Germany), APAC (headquartered in Singapore), the Americas (headquartered in San Mateo, California, USA), and Japan (headquartered in Tokyo). In some regions, REC is referred to as "REC Solar".

In the USA, a company named REC Solar, Inc. operates as an installer of solar energy systems for commercial, industrial, and utility-scale applications.[12] REC Group and REC Solar, Inc. are two separate companies with similar names in the same industry but have no direct relation to one another beyond REC Group being a supplier to REC Solar, Inc.

REC Solar, Inc. has used REC Group panels for many of its installations. In the USA, REC (the panel manufacturer) is known as "REC Americas".

REC Group vs. REC Silicon[edit]

The former Renewable Energy Corporation ASA had two divisions: REC Silicon and REC Solar. In October 2013, these were split into two entirely separate entities, each focusing on its own core business.[13]

For REC Silicon, this was polysilicon and silane gas for the solar and electronics industries with manufacturing facilities in Moses Lake, Washington and Butte, Montana, USA.[14]

REC Solar continues to manufacture wafers, solar cells, and solar panels at its fully automated integrated manufacturing facility in Singapore, plus EPC services and solutions in select markets.[15]

Both companies continued to be headquartered in Norway (with different management, separate organization setup, operations, etc.), and both were listed on the Oslo Stock Exchange; REC Silicon kept the ticker symbol "REC" and REC Solar was spun off and newly listed with the ticker symbol "RECSOL" in 2013. REC Solar was de-listed from the Oslo Stock Exchange shortly after being acquired in 2015 by the Elkem Group in Norway.[16]

As part of the split, REC Solar maintained the "REC Group" name, logo, and all other brand elements.

Today, REC Group and REC Silicon have no direct relation other than REC Silicon being a supplier to REC Group.

Awards & achievements[edit]

2016

  • #1 most-installed brand of panels in Germany[17]
  • #1 most-installed brand of panels for California homes (at end-Q3)[18][19]
  • #1 most-installed brand of panels for Colorado homes[20]
  • In December, REC celebrated its 20th anniversary
  • Singapore 1000, Net Profit Growth Excellence Award (Manufacturing)[21]

2015

  • #1 most-installed brand of panels for California homes (largest residential market in the USA)[22]
  • #2 most-installed brand of panels for homes nationwide in the USA[23]
  • Intersolar Award (Photovoltaics)[24][25]
  • IAIR Award, Best Company for Sustainability (Solar Energy Solutions, Global)[26]

2014

  • IAIR Award, Best Company for Sustainability (Solar Energy Solutions, Global)[27]

2011

  • Frost & Sullivan, Global Solar Power Customer Value Enhancement Award[28][29]

2010

  • Solar Industry Award, Module Manufacturing Innovation[30]

Noteworthy installations[edit]

USA

257 MW – Tranquility (Fresno County, CA)

14.53 MW – Anahola Solar Array (Kaua’i, HI)

4.5 MW – Veteran’s Hospital (Tucson, AZ)

3.2 MW – Rockville Solar II (Indianapolis, IN)

2.02 MW – MLS team Real Salt Lake’s Rio Tinto Stadium (Sandy, UT)

EMEA

37.3 MW – Parley Solar Park (Bournemouth, UK)

28 MW – Giebelstadt Power Plant (Giebelstadt, Germany)

24 MW – Phenix Power Plant (Canino, Italy)

2.3 MW – Audi A1 Production Plant (Brussels, Belgium)

10 MW – Izvoru Photovoltaic Park (Giurgiu Country Romania)

921 kW - Heineken Wieckse Witte brewery (Den Bosch, Netherlands)

635 kW – Dubai International Airport (Dubai, UAE)

APAC

72 MW – Solarco (Suphanburi, Thailand)

5.8 MW – BMD Solar PV Power Plant (Gajner, Bikaner, Rajasthan, India)

2.2 MW – Tiger beer brewery (Singapore)

1.7 MW – Tomakomai Rinku Kashiwabara Power Plant (Tomakomai city, Hokkaido, Japan)

707 kW – National Stadium at Singapore Sports Hub (Singapore)

479 kW – IKEA Sendai (Sendai city, Miyagi prefecture, Japan)

402 kW – NextDC M1 Data Center (Port Melbourne, Australia)

Market Studies[edit]

As a thought leader in the solar industry, REC has conducted multiple in-depth market studies on various topics that promote solar as an energy source.

2016

Climate Change: Closing the COP21 Gap by Going Solar

  • Results for: Global – U.S. – Germany – India – Japan – The Netherlands & Belgium

2014

Self Consumption in Singapore

  • REC’s in-depth study on the profitability of commercial self-consumption solar installations in Singapore

Self Consumption in Germany, Italy, and Turkey

  • REC’s in-depth study on the profitability of commercial self-consumption solar installations in Germany, Italy, and Turkey

References[edit]

  1. ^ "Product quality beyond expectations". REC Group. 2015-07-24. Retrieved 2017-06-26. 
  2. ^ "FACT SHEET: REC - THE FACTS (Key facts on REC's industry leadership in product quality, innovation, bankability, and product power)" (PDF). 
  3. ^ "Company history". REC Group. 2015-07-30. Retrieved 2017-06-26. 
  4. ^ "REC Solar Modules Win Industry Leading Test for Best Performance in 2011". www.businesswire.com. Retrieved 2017-06-26. 
  5. ^ "REC receives prestigious Intersolar Award 2015 for its new REC TwinPeak panels". REC Group. 2015-11-27. Retrieved 2017-06-26. 
  6. ^ "REC Launches High-Performance TwinPeak Series Solar Panels for Major Rooftop Markets Worldwide". 
  7. ^ "REC launches 72-cell version of the award-winning REC TwinPeak Series – rated up to 340 Wp". REC Group. 2016-08-25. Retrieved 2017-06-26. 
  8. ^ "REC launches REC TwinPeak 2 Series, a new generation of award-winning solar panel rated up to 295 Wp". REC Group. 2017-01-17. Retrieved 2017-06-26. 
  9. ^ "REC launches the REC TwinPeak 2 BLK2 Series, a full-black multicrystalline panel up to 285 Wp". REC Group. 2017-03-29. Retrieved 2017-06-26. 
  10. ^ "REC launches REC TwinPeak 2S 72 Series, the highest power 72-cell multicrystalline solar panel in the world". REC Group. 2017-04-24. Retrieved 2017-06-26. 
  11. ^ "Bankability you can take to the bank". REC Group. 2015-07-24. Retrieved 2017-06-26. 
  12. ^ "REC Solar - We Design, Build, Operate and Maintain Solar Systems". recsolar.com. Retrieved 2017-06-26. 
  13. ^ Kingdom, Elsevier Ltd, The Boulevard, Langford Lane, Kidlington, Oxford, OX5 1GB, United. "REC separates solar and silicon businesses - Renewable Energy Focus". www.renewableenergyfocus.com. Retrieved 2017-06-26. 
  14. ^ "IN DEPTH: Behind the REC split". Recharge | Renewable energy news and articles. 2014-01-07. Retrieved 2017-06-26. 
  15. ^ "REC plans to split company". PV Tech. Retrieved 2017-06-26. 
  16. ^ "REC to join forces with Norway-based Elkem". REC Group. 2015-11-26. Retrieved 2017-06-26. 
  17. ^ "European solar panel manufacturer REC presents its innovations at Intersolar Europe 2017 – Booth A2.380". REC Group. 2017-05-30. Retrieved 2017-06-29. 
  18. ^ "GTM Research Q1 2017 US PV Leaderboard". 
  19. ^ "REC Group ranked #1 most popular brand of solar panels for homes in California and #2 nationwide". REC Group. 2017-01-26. Retrieved 2017-06-29. 
  20. ^ "GTM Research Q1 2017 US PV Leaderboard". 
  21. ^ "Winners - Singapore 1000". www.dpgroup.sg. Retrieved 2017-06-29. 
  22. ^ "GTM Research Q1 2016 US PV Leaderboard". 
  23. ^ [GTM Research Q1 2016 US PV Leaderboard "GTM Research Q1 2016 US PV Leaderboard"] Check |url= value (help). 
  24. ^ Global, Intersolar. "Photovoltaics Category - Intersolar Global". www.intersolarglobal.com. Retrieved 2017-06-29. 
  25. ^ "REC receives prestigious Intersolar Award 2015 for its new REC TwinPeak panels". REC Group. 2015-11-27. Retrieved 2017-06-29. 
  26. ^ "IAIR AWARDS Excellence in Global Economy and Sustainability". www.lefontiawards.com. Retrieved 2017-06-29. 
  27. ^ "IAIR AWARDS Excellence in Global Economy and Sustainability". www.lefontiawards.com. Retrieved 2017-06-29. 
  28. ^ Sullivan, Frost &. "Frost & Sullivan Recognizes REC for Creating the Highest Value for Customers in the Solar Power Market". www.prnewswire.co.uk. Retrieved 2017-06-29. 
  29. ^ "REC Receives Global Customer Value Enhancement Award from Frost & Sullivan". Control Engineering Asia. 2012-08-02. Retrieved 2017-06-29. 
  30. ^ Corporation, REC Group, Renewable Energy. "REC Wins Solar Industry Award for Module Manufacturing Innovation - REC". portals.recgroup.com. Retrieved 2017-06-29. 

External links[edit]