Overview of LG – Company History
LG initially entered the solar market in 1985 as the company ‘Lucky-GoldStar’. The company developed its first portable solar cell technology in 1988, ‘The Solar Lantern’. Lucky-GoldStar rebranded to LG in 1995 and proceeded to design solar systems for traffic lights and clock towers. In 2008 LG created its first solar panel and has gone on to win the Intersolar Award in 2013, 2015 & 2016 for its innovations. The South Korean multinational conglomerate corporation is currently the 4th largest chaebol (family-owned business) in South Korea. Holding a very impressive panel return rate of only 10 in 1 million, LG has built the reputation of being a premier solar panel manufacturer worldwide. This is only strengthened through achieving EUPD Research Top Brand PV Award for Modules in Australia each year for the past 5 years.
Key Panel Indicators
|LG Solar Panels|
|Bloomberg Tier 1 Ranking||Yes (Q2)|
|DNV GL Top Performer||No|
|Office location in Australia||Yes|
What is a Bloomberg Tier 1 Solar Panel?
Bloomberg’s infamous tier 1 ranking is NOT a measure of Solar Panel quality in any way. It is simply an indication of the bankability of the manufacturer based on publicly released information on the financial health of the company. This should give you an idea if the company is a large, well-known manufacturer.
What is PV Evolution Labs Top Performer?
PV Evolution Labs with support from DNV GL independently test solar panel reliability. The tests are voluntary, with solar panel manufacturers paying to participate in the testing. This testing process is internationally renowned and is an accurate reflection of the solar panel’s performance.
Despite the reputation for producing high-quality panels, LG has only ranked as a PV Evolution Labs Top Performer in 2018. Unfortunately, PV Evolution Labs do not state why a panel does not rank. However, as it is a paid voluntary test LG may just choose not to participate in testing.
Why is office location in Australia Important?
Most solar panel manufacturers entering the Australian market first set up their distribution channels and worry about customer service later. This has led to many unhappy customers who are left trying to contact Chinese head offices to claim on their 10-year product warranty.
Relying on your solar installer is not always an option as we’ve seen many residential solar installers (including the large ones) go out of business well within the lifetime of the systems they are installing.
How much do LG Solar Panels cost?
Based on Solar Choice’s database we have provided the below-average costs as an indicative guide. These prices include:
- Full turnkey Solar System with LG Solar Panels
- Installation from a pre-vetted reputable installer from Solar Choice’s network
- The STC rebate and GST
|System Size||Average Fully Installed Cost|
Important Note: Prices will vary depending on location, inverter brand and which installer is used
Compare quotes from up to 7 installers in your area now.
Model Range Available in Australia
CEC approved models available for residential installation in Australia
LG NeON® 2 325-355Wp
LG NeON® 2 Black 320-340Wp
LG NeON® R 365-380Wp
LG NeON® R Prime 355-365Wp
LG Solar Panel Specifications
|LG NeON® 2||LG NeON® 2 Black||LG NeON® R Prime|
|Cell Type||Monocrystalline N-type||Monocrystalline N-type||Monocrystalline N-type|
|Nominal Power Voltage||34.9V||34.9V||36.4V|
|Power Density||201.75 W/m²||198.83 W/m²||205.2 W/m²|
|Annual Power Degradation||0.33%||0.33%||0.3%|
|Dimensions||1686 x 1016 x 40 mm |
|1686 x 1016 x 40 mm |
|1700 x 1016 x 40 mm|
|Warranty||25 years||25 years||25 years|
|Operational Temperature Range||-40°C to 90°C||-40°C to 90°C||-40°C to 90°C|
|Made in||South Korea||South Korea||South Korea|
Example of an LG Commercial Solar Project
In November 2017 Kedron-Wavell Services Club located in Brisbane installed 300 LG NeON®2 335W panels. This totaled a system size of 80.4 kW with an approximate annual output of 131,000 kWh. The goal was to install a system as large as possible to reduce the club’s power bill. The installation had its challenges as the roof surface had multiple angles and differing levels. Overall, it was estimated that the club saves $34,000 yearly on their electricity bill. The environmental benefit of this installation is the reduction of approximately 53 tonnes of CO2 per annum. The club’s panel array is pictured below.