GUELPH, Ontario, November 17, 2014 /PRNewswire/ — Canadian Solar Inc. (the “Company,” or “Canadian Solar”) (NASDAQ: CSIQ), one of the world’s largest solar power companies, today announced that Sunrun, one of the largest dedicated residential solar companies in the United States, approved Canadian Solar as its qualified vendor. Through AEE Solar, a subsidiary of Sunrun and one of the nation’s leading wholesale distributors of solar products, consumers and PV installers can choose Canadian Solar’s high quality products in their Sunrun home solar system.
“Sunrun is one of the solar industry’s fastest-growing and leading companies. We are very happy to work together with Sunrun to promote the development of solar energy. This partnership is another strategic move that will allow us to maintain our market position and grow as North America’s largest solar manufacturer,” said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc.
Sunrun’s PV module qualification process is one of the most rigorous in the residential solar industry. It consists of a multi-step process that includes extensive product analysis, factory audits, testing, and risk assessment to evaluate solar module manufacturers. The process ensures that qualified PV modules meet long-term energy production standards. Sunrun’s attention to details reinforces its commitment to offer homeowners the best customer experience and provide its partners with significant competitive advantages, including access to high quality solar products.
Sunrun’s business model allows homeowners to go solar without the high upfront cost. The company designs, installs, finances, insures, monitors, and maintains the solar panels on a homeowner’s roof, while families pay just for the electricity at a lower rate than their current utility.
About Canadian Solar Inc.
Founded in 2001 in Ontario, Canada, Canadian Solar is one of the world’s largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar has an industry leading and geographically diversified pipeline of utility-scale solar power projects as well as a track record of successful solar deployment boasting over 7 GW of premium quality modules installed in over 70 countries during the past decade. Canadian Solar is committed to providing high-quality solar products and solar energy solutions to customers around the world. For more information about our company, products and projects please 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 the risks regarding general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of solar grade silicon; demand for solar products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand in our project markets, including Canada, the U.S., Japan and China; changes in customer order patterns; capacity utilization; level of competition; pricing pressure and declines in average selling price; delays in new product introduction; continued success in technological innovations and delivery of products with the features customers demand; utility-scale project approval process delays; utility-scale project construction delays; utility-scale project cancelation due to failure to obtain all the necessary permits; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; trade protectionism in Europe, the U.S. and India; litigation and other risks as described in the Company’s SEC filings, including its annual report on Form 20-F filed on April 28, 2014. Although the Company believes that the expectations reflected in its 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.