GUELPH, Ontario, October 20, 2014 /PRNewswire/ — Canadian Solar Inc. (the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ), one of the world’s largest solar power companies, today announced that it will introduce a new, groundbreaking Diamond module at the upcoming Solar Power International (SPI) exhibition.
The Diamond module, also known as double glass module, utilizes heat-strengthened glass instead of the traditional polymer backsheet. The Diamond module is PID free with anti-PID cells and encapsulated material. With no metal module frame, the Diamond glass module does not require grounding, thereby eliminating the cause of Potential Induced Degradation (PID). In addition, the Diamond module has the ability to withstand harsh environmental conditions, including high humidity, high temperature, sandstorm, and ultraviolet (UV) conditions. Furthermore, the module’s increased resistance to salt corrosion translates into a more robust and reliable solution for seaside/waterside photovoltaic (PV) system installation.
Rated for 1500V systems, the Diamond module significantly reduces Balance of System (BOS) costs by increasing modules in a string and decreasing the number of combiners, cables, and other system parts. The innovative glass-on-glass cell encapsulation blocks moisture permeability, enhancing long-term system performance reliability. The first year annual power degradation is 2.5% and 0.5% each year afterwards. With that, module output at the 25th year is maintained at 85% versus the current 80%.
“Canadian Solar is committed to providing robust, high-performance solar modules to meet the diversified needs of our global customers,” commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. “This Diamond Module, which will be officially launched in 2015, essentially enhances our customers’ return on investment by decreasing system costs while improving energy yield.”
In addition to the Diamond Module, Canadian Solar will be showcasing their innovative string inverters and installation modules in Booth #300 at SPI. More than 15,000 visitors are expected at North America’s largest solar tradeshow from October 21-23 at the Las Vegas Convention Center.
For Diamond module information, please visit http://www.canadiansolar.com/down/en/Diamond_CS6K-P-PG_en.pdf
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.
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