Are LG Solar panels any good?
At GI Energy we can install any solar panel for your home or business. This means we are able to write honest reviews expressing our genuine opinion, without having to be biased due to holding stock of LG solar panels, or any other solar panel! This article details the opinion of our Business Development Director, who has worked in various roles from consultancy, business development and commercial project management in the PV industry since 2009.
Warranty and tech support today: 10
Warranty and tech support long-term: 9
Value for money: 8.5
Total Rating: 8.8/10
LG, which stands for Life’s Good, is the most recognisable brand name in the solar industry. Most of us are familiar with their logo from a fridge, TV or washing machine in our homes and it is probably safe to say that almost everyone reading this has had one of the above LG appliances in their own lives in the last 5-years.
This is not a common trait for solar panels, and aside from Hyundai Solar Panels there are no other brands that stand out as household names in this industry. Bosch have dipped in and out of the solar market over the years (with varied success) as have Panasonic and even Samsung make good quality batteries for solar storage. But LG Solar and Hyundai Solar are the only two really big household names that have a solar panel product offering in Australia right now. The difference between these two brands is LG solar division trades under the exact same ABN in Australia as LG Electronics that make your TV. With Hyundai, the solar division is totally seperate from the solar panel division.
So, does being a big brand mean LG make solar panels worth buying? The short answer… depends on what you value. If you value long term warranties and great performance you have found your winner. If you are shopping purely on price, then maybe they are not for you. There are pros and cons of all major solar panel brands to consider, and the best panel for you may not be the best panel for your best friend or neighbour.
Let’s firstly take a look at the manufacturer:
LG are a huge Korean company who first started trading in 1947. They have three main divisions: Electronics, telecommunications and chemicals. The chemical division also make a range of solar batteries, which are a popular choice in Australia.
They are a hugely credible company and tick every box for what you would look for in a solar panel manufacturer. At GI Energy we like solar panel manufacturers that are diversified and bankable. LG have annual revenues over $200 billion across their divisions and are extremely diversified, so they are about as credible as you get from this standpoint.
There are only really a handful of solar panel manufactures who can claim to be as credible as LG in terms of scale and bankability. These are Hanwha Q Cells, Sumec Phono Solar and Hyundai Green Energy. For more information about choosing the best solar panel for you, click here.
From this list, LG are still the ones with the longest trading history and most brand equity.
Are they any good though? And what is the range like?
The short answer is yes…they make a wonderful solar panel. In recent years they have had three main solar panels for sale in Australia: The Neon R, Neon 2 and Mono X. The latter has been phased out in Australia and is not currently available, which leaves the Neon series. The Neon R is the flagship panel and has an efficiency rating of 21.7%, which ranks it as the second most efficient solar panel in the world. The Neon 2 is slightly less efficient but still comes in at 20.7 – which is still 4th on the list of most efficient solar panels. The Mono X was the more cost-effective version for LG and as a result was less efficient and also came with a shorter warranty period of only 15-years.
So, what’s the warranty like on the LG Neon series?
To give you another short answer… very good! They offer a full 25-year product and performance warranty. This puts them right at the top of the pile again, along with Hyundai, Q Cell and SunPower who also offer a 25-year product warranty as well as the more standard 25-year efficiency warranty.
Not all 25-year warranties are created equal though. While all the above brands offer 25-year warranties at the time of writing, it would be safe to assume that LG have the most skin the game to make sure these warranties are honoured. The solar industry is not going to be this fruitful for ever and when demand starts to dip globally, not all manufacturers are going to stand the test of time. LG have more reason to honour the warranties of their solar panels that most brands as they know that you are also a potential lifelong customer of theirs for their TVs, fridges, washing machines and other applies. These products are all sold under the same ABN in Australia so I don’t think there is a safer warranty in the solar industry.
What’s the downside then?
Because LG manufacturer high performance solar panels, they are not cheap. They are a great product from a great manufacturer and tick every box we look for in a solar panel. However, if you are shopping purely on price, they will not be for you.
They have a great brand name, and essentially this is what you are paying part of that premium for. If are you aware of this and do not mind paying quite a bit extra for the secure feeling that comes with buying something like LG, then these are a great panel for you. Essentially, you are paying more for a solar panel that gives you amazing performance AND extremely safe warranties and longevity. If you see value in this, then look into them further, if you do not, then they will not tick your boxes.
So, should I buy LG Solar Panels?
It is impossible to find a better solar panel in terms of performance, reliability AND brand name warranty support. They do not really have a competitor as there is no other solar panel manufacturer that can claim to have the trading history and brand LG have. You are never going to be disappointed in buying LG solar panels and the only downside is they are not as cheap as some others. In an industry where most solar panel manufacturers have focused all their attention on reducing cost, LG have refreshingly focused their attention on increasing quality. We think that brings great value to the table, if you can afford to stretch the budget a bit.
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