GUELPH, Ontario, July 1, 2020 /PRNewswire/ -- Canadian Solar Inc.
("Canadian Solar" or the "Company") (NASDAQ: CSIQ)
today launches the super-high power Series 5 and Series 6 PV
modules to celebrate Canada Day. These new modules will join the
HiKu, BiHiKu and HiDM portfolios, expanding the range of
high-power, high-efficiency monofacial and bifacial solar
modules.
These new products incorporate Canadian Solar's proprietary and
record-breaking cell technology, as well as the latest cutting-edge
module designs, reflecting Canadian Solar's commitment to
excellence, research and development of competitive and clean solar
solutions.
Series 5 portfolio – HiKu5, BiHiKu5
HiKu5 and BiHiKu5 shall utilize Canadian Solar's
industry-leading LeTID (light- and elevated temperature-induced
degradation) mitigation technology and power classes of up to 500 W
for a more powerful PV module. Available in both monocrystalline
and polycrystalline cells, the LeTID of the HiKu5 is 50% lower than
the industry standard. Improved module efficiency, high power
classes, and leading PV module technology, enable the HiKu5 to
lower the LCOE of an installation by up to 4.0%.
Series 6 portfolio – HiKu6, BiHiKu6
HiKu6 and BiHiKu6 shall offer super-high power classes of up to
590 W and module efficiency of up to 21.3%, utilizing Canadian
Solar's advanced cell technology and module design. Relative to
standard 405 W monocrystalline modules, HiKu6 modules generate up
to 2.7% higher energy yield over the module lifetime, reduce the
BOS (balance of system) cost by up to 5.6%, and reduce the LCOE by
up to 4.5%, offering excellent value for large-scale
installations.
Series 5 portfolio – HiDM5
HiDM5 expands upon the successful "Made in Canada" HiDM product line, manufactured in
Canadian Solar's Guelph factory in
Ontario. The HiDM5 module embodies elegance and function,
combining a stylish aesthetic design with the best of Canadian
Solar's shingled-cell design and mono cell technology. The HiDM5
will be available in power classes of up to 405 W. Relative to
standard mono PV modules, the HiDM5 offers a 37% higher rooftop
system capacity and 47% higher IRR from lower system costs, making
it an ideal module for residential installations.
"Since I founded the Company in Canada 19 years ago, I am proud that Canadian
Solar has become a leader in the development and deployment of the
latest solar technologies. As reflected in today's announcement,
our commitment is to develop leading technology that will deliver
more solar energy more cost-effectively," said Dr. Shawn Qu, Founder, Chairman and CEO of Canadian
Solar. "Our HiKu, BiHiKu and HiDM product ranges have always been
at the forefront of PV module technology, and the launch of the new
Series 5 and Series 6 modules is another important achievement as
we continue to provide powerful, efficient and high-quality solar
solutions."
The new products will be backed by competitive warranties and
Canadian Solar's commitment to high quality customer service.
Series 5 and Series 6 portfolios further expand the Company's broad
range of PV products, with modules and services available to meet
customers' solar needs.
To learn more about the new products, register to join a
webinar.
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and
is one of the world's largest solar power companies. It is a
leading manufacturer of solar photovoltaic modules and provider of
solar energy solutions and has a geographically diversified
pipeline of utility-scale solar power projects in various stages of
development. Over the past 19 years, Canadian Solar has
successfully delivered over 43 GW of premium-quality, solar
photovoltaic modules to customers in over 150
countries. Canadian Solar is one of the most bankable
companies in the solar industry, having been publicly listed on
NASDAQ since 2006. For additional information about the Company,
follow Canadian Solar on LinkedIn or
visit www.canadiansolar.com.
Safe Harbor/Forward-Looking Statements
Certain statements in this press release are forward-looking
statements that involve a number of risks and uncertainties that
could cause actual results to differ materially. These statements
are made under the "Safe Harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. In some cases, you can
identify forward-looking statements by such terms as "believes,"
"expects," "anticipates," "intends," "estimates," the negative of
these terms, or other comparable terminology. Factors that could
cause actual results to differ include general business and
economic conditions and the state of the solar industry;
governmental support for the deployment of solar power; future
available supplies of high-purity silicon; demand for end-use
products by consumers and inventory levels of such products in the
supply chain; changes in demand from significant customers; changes
in demand from major markets such as Japan, the U.S., India and China; changes in customer order patterns;
changes in product mix; capacity utilization; level of competition;
pricing pressure and declines in average selling prices; delays in
new product introduction; delays in utility-scale project approval
process; delays in utility-scale project construction; delays in
the completion of project sales; continued success in technological
innovations and delivery of products with the features customers
demand; shortage in supply of materials or capacity requirements;
availability of financing; exchange rate fluctuations; litigation
and other risks as described in the Company's SEC filings,
including its annual report on Form 20-F filed on April 28, 2020. Although the Company believes
that the expectations reflected in the forward-looking statements
are reasonable, it cannot guarantee future results, level of
activity, performance, or achievements. Investors should not place
undue reliance on these forward-looking statements. All information
provided in this press release is as of today's date, unless
otherwise stated, and Canadian Solar undertakes no duty to update
such information, except as required under applicable law.
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SOURCE Canadian Solar Inc.