September 10, 2012
Canadian Solar, Inc., (the "Company," "we" or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar companies, today launched its new ResidentialAC module, the latest addition to the Intelligrated™ Power product family, at Solar Power International 2012.
Intelligrated Power integrates the intelligence of panel electronics with high performance solar modules to deliver smart, state-of-the-art solar power products that maximize system performance while significantly reducing the cost of system design and installation. ResidentialAC is a revolutionary AC solar energy solution with advanced technology that delivers a double-digit increase in solar power production over traditional micro inverters. Pre-installed at the factory, ResidentialAC's advanced inverter technology was designed and built from the ground up, with a core focus on performance and longevity. The technology eliminates life-limiting components, dramatically increasing the inverters' life expectancy. The Canadian Solar AC solar solution eliminates the danger of high voltage DC power and wiring for safer, easier installation.
"ResidentialAC offers our residential customers a simple, elegant AC solar solution that delivers high quality performance at a cost-effective price point," said Dr. Shawn Qu, CEO of Canadian Solar, "We are excited to launch a solution that provides our customers with the smartest solar solution for reliable home installations and reinforces our leadership as cutting-edge innovators in the solar industry."
ResidentialAC' s voltage-safe "plug and play" technology is easily configurable to any desired system size, allowing on-the-spot system modifications and eliminating the necessity for highly skilled labor. The module is covered by Canadian Solar's industry-leading 25 year warranty and is "double protected" by matching warranty insurance, guaranteed by three of the world's top-rated insurance carriers. Monitoring software is included, allowing customers module-level tracking of solar panel performance to optimize the system's solar energy production.
Available in a sleek black frame, the ResidentialAC module is designed specifically for home and business solar installations. It increases system performance with advanced technology, shade tolerance and no module mismatch, delivering higher energy production than standard micro inverters. The new AC modules are safer and easier to install than traditional technologies, reducing costs on design, labor and balance of system. Visit Canadian Solar in booth #2200 to view the new Intelligrated Power ResidentialAC solar solution.
Follow @Canadian_Solar on Twitter for news and announcements from SPI 2012. Help spread the word: Click to tweet: @Canadian_Solar to introduce new ResidentialAC #solar product at #SPICon 2012.
Additionally, Canadian Solar Director of Commercial & Utility Scale Markets, Noah Eckert, will be speaking on a panel discussing utility-scale solar at the Solar Power International:
Date: Wednesday, September 12
Time: 1:30 p.m. – 3:00 p.m.
Title: "Utility Scale System Dynamics: System Costs and PPA"
Location: West Concourse, 311E, 311F
Please visit Canadian Solar in booth #2200 for more information, and to be entered in a drawing to win a Samsung Galaxy Tablet.
About Canadian Solar Inc. (NASDAQ: CSIQ)
Canadian Solar, Inc. is one of the world's largest solar companies. As a leading vertically integrated provider of ingots, wafers, solar cells, solar modules and other solar applications,Canadian Solar designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use to customers worldwide. With operations in North America, Europeand Asia, Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar solutions to support global, sustainable development. For more information, visitwww.canadiansolar.com.
U.S. offices: 12657 Alcosta Blvd, Suite 130, San Ramon, CA 94583
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 the previously disclosed SEC investigation as well as 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 Germany; 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; 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 27, 2012. 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. You 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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