GUELPH,
ON, June 20, 2024 /PRNewswire/
-- Canadian Solar Inc. (the "Company" or "Canadian
Solar") (NASDAQ: CSIQ) announced today that it has entered into a
partnership agreement with leading renewable energy supplier
Lifestyle Solar Inc. ("Lifestyle Solar") to provide solar and
energy storage solutions to homebuilders in California.
Through this partnership, Canadian Solar will supply its
integrated residential solar and energy storage solution, including
its high efficiency solar modules and residential energy storage
system, EP Cube. With its seamless financing solutions and Canadian
Solar's advanced products, Lifestyle Solar provides homebuilders
with a comprehensive turnkey renewable energy solution, meeting
growing demand from homebuyers.
Lifestyle Solar has been delivering high-quality solar
installations and financing to underserved communities in
Fresno, CA since 2007. By offering
Canadian Solar's new N-type panels from the Company's factory in
Mesquite, TX, and the innovative
stackable EP Cube home battery, Lifestyle Solar is enabling
homeowners to achieve energy resilience and lower electricity
costs.
Thomas Koerner, Senior Vice
President of Canadian Solar, commented, "Partnering with
Lifestyle Solar allows us to bring our premium solar and energy
storage solutions to more California homeowners. With EP Cube and EP
Cube Lite, designed for time-of-use states like California, customers can reuse solar power
captured by Canadian Solar PV panels during the day to power their
homes after sunset. Our solutions help homeowners significantly
reduce their electricity bills and in turn monthly home costs."
Adam Hoang, Vice President of
Lifestyle Solar, added, "At Lifestyle Solar, our mission is to
make clean, renewable energy accessible and affordable for
everyone. By offering Canadian Solar products, we are taking a
significant step toward a sustainable future, harnessing the sun's
power to reduce our dependence on fossil fuels and paving the way
for a greener planet for generations to come."
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and
is one of the world's largest solar technology and renewable energy
companies. It is a leading manufacturer of solar photovoltaic
modules, provider of solar energy and battery energy storage
solutions, and developer of utility-scale solar power and battery
energy storage projects with a geographically diversified pipeline
in various stages of development. Over the past 23
years, Canadian Solar has successfully delivered over 125
GW of premium-quality, solar photovoltaic modules to customers
across the world. Likewise, since entering the project development
business in 2010, Canadian Solar has developed, built,
and connected over 10 GWp of solar power projects and 3.3 GWh of
battery energy storage projects across the world. Currently, the
Company has over 1.2 GWp of solar power projects in operation, 6.5
GWp of projects under construction or in backlog (late-stage), and
an additional 19.8 GWp of projects in advanced and early-stage
pipeline. In addition, the Company has 600 MWh of battery energy
storage projects in operation and a total battery energy storage
project development pipeline of around 56 GWh, including
approximately 4.3 GWh under construction or in backlog, and an
additional 51.6 GWh at advanced and early-stage
development. Canadian Solar is one of the most bankable
companies in the solar and renewable energy industry, having been
publicly listed on the NASDAQ since 2006. For additional
information about the Company, follow Canadian
Solar on LinkedIn or
visit www.canadiansolar.com.
About Lifestyle Solar Inc.
Established in Fresno,
California, in 2007, Lifestyle Solar Inc. has grown to
become a leader in the renewable energy industry, known for its
high-quality solar products and exceptional customer service.
Lifestyle Solar Inc. has a proven track record in California, with more than 17 years of
experience in residential and commercial installations. For more
information, please visit www.lifestylesolarinc.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, regulatory and economic conditions and
the state of the solar and battery storage market and industry;
geopolitical tensions and conflicts, including impasses, sanctions
and export controls; volatility, uncertainty, delays and
disruptions related to the COVID-19 pandemic; supply chain
disruptions; 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., China, Brazil and Europe;
changes in effective tax rates; changes in customer order patterns;
changes in product mix; changes in corporate responsibility,
especially environmental, social and governance ("ESG")
requirements; capacity utilization; level of competition; pricing
pressure and declines in or failure to timely adjust 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 that customers demand; shortage in
supply of materials or capacity requirements; availability of
financing; exchange and inflation rate fluctuations; litigation and
other risks as described in the Company's filings with the
Securities and Exchange Commission, including its annual report on
Form 20-F filed on April 26, 2024.
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.
Canadian Solar Inc. Investor Relations
Contact
Wina Huang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com
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SOURCE Canadian Solar Inc.