Canadian Solar Launches Next Generation ResidentialAC System

TORONTO and GUELPH, Ontario, Jan. 22, 2013 /PRNewswire-FirstCall/ -- Canadian Solar Inc. (NASDAQ: CSIQ) (the "Company", or "Canadian Solar"), one of the world's largest solar power companies, today announced the launch of its next generation ResidentialAC system.

Until now, PV system installers had to make use of first generation micro inverter technology. Canadian Solar's ResidentialAC system combines the Company's highly efficient 250W PV module with a state of the art next generation Micro Inverter to provide solar system installers, investors and homeowners with a breakthrough solution that delivers high quality and cost-effective performance.  Canadian Solar's ResidentialAC system was designed from the ground up and is anticipated to address ALL of the critical limitations of current, first generation AC micro inverters in the market.

Canadian Solar's ResidentialAC system breakthroughs include:

a)      25-year long Micro-Inverter reliability to match Canadian Solar's module warranty by eliminating the key life limiting components in the current first generation of AC micro inverters

b)      Power generation in high temperature environments above 65^oC

c)      Compatibility and ability to work with higher power class modules up to 300Wp, up from current 215Wp limitation

d)      Reliable and consistent data communication

The end result is a new generation ResidentialAC system that meets the needs and challenges of today's residential PV systems and confidently meets the standard 25-year system performance warranty requirement.  Installers, homeowners and investors will benefit from fewer repairs, safety advantages of not working on high voltage DC electricity, and faster installations with lower labor and material costs.  Homeowners and investors will also benefit from faster ROI due to the ability to use higher power class modules in addition to more flexible roof layouts that can accommodate portrait and landscape module orientations that optimize roof space usage.

"We are excited to launch a solution that provides our customers with the smartest residential AC module solution in the market and reinforces our leadership as a cutting-edge innovator in the solar industry.   This new architecture represents a breakthrough from existing AC solutions and a significant improvement from all first generation products, offering our customers measurable value." commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.   

Canadian Solar's ResidentialAC system also includes monitoring software, allowing customers module-level tracking of solar panel performance to optimize the system's solar energy production.

Shawn (Xiaohua) Qu [download bio]
Chairman, President & Chief Executive Officer (CEO

About Canadian Solar

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, Europe, Australia, Africa and Asia, Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar solutions to support global, sustainable development. For more information, visit www.canadiansolar.com.

Safe Harbor Statement

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 regarding the Company; general business and economic conditions; 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 in the Canadian markets; changes in customer order patterns; capacity utilization; pricing pressure and declines in average selling prices; delays in utility-scale project approval processes; delays in utility-scale project construction; 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.

SOURCE Canadian Solar Inc.