Canadian Solar Launches New 1500-Voltage Crystalline Solar Module Portfolio at 2016 Intersolar North America

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Jul 11, 2016, 05:00 ET

GUELPH, Ontario, July 11, 2016 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that the company will launch the new 1500V System Voltage ("1500V") crystalline solar module portfolio at the 2016 Intersolar North America Exhibition to be held from July 12 to July 14, 2016 at the Moscone Center in San Francisco.

The conventional 1000V system voltage allows PV system designed only up to 1000V. The new Canadian Solar 1500V module portfolio has proven its performance under both IEC/UL standards for 1500V of system voltage and allows a significantly more efficient system design while reducing the overall BOS and cabling costs. The 1500V crystalline module, offered in two product types (60 cell configuration (CS6K - mono and CS6K - poly) and 72 cell configuration (CS6U - mono and CS6U - poly)), provides a robust and cost-efficient system solution by adding more modules in a string, which decreases the number of combiner boxes, direct current (DC) homeruns and trenching. This unique product design lowers wiring losses and reduces the number of equipment, thus improving the overall system performance and efficiency and reducing the labor cost and installation time. Furthermore, the 1500V crystalline module meets both International Electrotechnical Commission (IEC) standard and Underwrites Laboratories (UL) standard, making it an industry-leading product that can meet these two top-level international standards at the same time. Consistent with its high product quality, this 1500V crystalline module comes with Canadian Solar's 25-year linear power output warranty and a 10-year product warranty on materials and workmanship.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said, "We are very pleased to introduce the 1500V crystalline module, which is a great addition to Canadian Solar's high quality product portfolio. The state-of-the-art product design of the 1500V crystalline module increases the overall system performance and lowers the Balance of System cost. We believe this new product can perfectly meet the growing demand for higher voltage systems with lower system costs. We look forward to welcoming every one of you to Canadian Solar's booth #7311 to explore more on the 1500V crystalline module and the complete set of Canadian Solar's diversified product offerings."

About Canadian Solar Inc.

Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and a provider of solar energy solutions, Canadian Solar has a geographically diversified pipeline of utility-scale power projects. In the past 14 years, Canadian Solar has successfully shipped over 14 GW of premium quality modules in over 90 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publically listed on NASDAQ since 2006. For additional information about the company, follow Canadian Solar on Facebook, Twitter, LinkedIn, or on the website.

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; 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 UK, Japan, the U.S. 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; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials including solar cell to replace lost production at the Funing solar cell plant during the plant rebuilding and recovery phase; ability to recover weather related damages to the Funing solar cell plant from insurance carriers ; 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 20, 2016. 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.

SOURCE Canadian Solar Inc.