Trina Solar and Vivint Solar Announce Agreement to Install Trinasmart Modules in North America
Industry Leader Vivint Solar to Add Trinasmart Panels to its Residential Offering
CHANGZHOU, China, March 10, 2015 /PRNewswire/ -- Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a global leader in photovoltaic ("PV") modules, solutions and services, today announced that its industry-leading Trinasmart panels are now part of the technology solution that Vivint Solar, Inc. (NYSE: VSLR), the second largest U.S. residential solar provider, offers to its customers. Trinasmart is a module-integrated solution that optimizes the energy output of PV systems, enhances solar array safety, improves installation speeds and reduces balance of system costs.
"Vivint Solar is a solar industry leader that is delivering cost-effective and innovative solutions every day. That's why we're excited to partner with them and provide our high-performing Trinasmart modules for their residential offering," said Jing Tian, Trina Solar Head of Global Marketing. "With Trinasmart, we can help Vivint Solar's installation and operations and maintenance teams through faster install times, enhanced monitoring capability and advanced fire-safety features – putting them ahead of the curve in the distributed generation market."
"We are proud to offer homeowners advanced solar technology and plan to begin installing Trinasmart modules immediately," said Jan Newman, Vice President of Business Development at Vivint Solar. "We are confident in the long-term value of monitoring system performance on the module level with Trinasmart."
The patented Trinasmart technology is a complete solution that includes power optimization and monitoring built into the module junction box. Unlike other modules, Trinasmart allows monitoring and control of the PV array at the module level. System performance can also be monitored and controlled in real time with a smart mobile device or PC thanks to the web-based Trinasmart platform, www.trinasmart.com.
Trinasmart also improves the safety of the PV system: in cases of electrical failure (e.g. flashing arc), Trinasmart shuts down the affected modules automatically. Moreover, in the case of a fire emergency, the modules can be totally deactivated to eliminate high voltages and secure the safety of firefighters. Trinasmart is fully covered by Trina Solar's 10-year product warranty and 25-year linear performance warranty, and it complies with NEC's 690.12 Rapid Shutdown requirement.
For more information about Trinasmart, visit http://www.trinasolar.com/us/product/Trinasmart.html.
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL) is a leading manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that have developed a vertically integrated business model from the production of monocrystalline and multicrystalline silicon ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com.
About Vivint Solar
Vivint Solar is a leading provider of distributed solar energy – electricity generated by a solar energy system installed at a customer's location – to residential customers in the United States. Vivint Solar's customers pay little to no money upfront, receive significant savings relative to utility generated electricity and continue to benefit from guaranteed energy prices over the 20-year term of their contracts. Vivint Solar finances, designs, installs, monitors and services the solar energy systems to make things easy for its customers. For more information, visit www.vivintsolar.com or follow @VivintSolar.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, statements concerning the agreement between Trina Solar and Vivint Solar to install Trinasmart modules in North America and the expected benefits associated with the strategic partnership of the two companies. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements should not be read as a guarantee of future performance or results, and they will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. These statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Trina Solar and Vivint Solar and the industries in which the companies operate and compete as of the date of this news release, and they are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including but not limited to the availability of additional financing on acceptable terms; changes in retail price of traditional utility generated electricity; changes in electrical utility policies and regulations; the availability of rebates, tax credits and other incentives that affect the pricing of solar systems, including regulations related to net metering; changes in regulations, tariffs and other trade barriers and tax policy affecting the respective companies and their industries; demand in various markets for solar product offerings; the ability to attract, train and retain qualified personnel; the availability and price of solar panels and other solar system components; and the other risks identified in the registration statements and reports that the respective companies file with the U.S. Securities and Exchange Commission, which are available on the investor relations section of the respective companies' websites at www.trinasolar.com and www.vivintsolar.com. Neither Trina Solar nor Vivint Solar undertakes any obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Neither company undertakes any obligation to publicly update or revise any forward-looking statement in this news release, whether as a result of new information, future developments or otherwise.
SOURCE Trina Solar Limited
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