GUELPH,
ON, June 13, 2024 /PRNewswire/
-- Canadian Solar Inc. (the "Company" or "Canadian Solar")
(NASDAQ: CSIQ) announced today that it has entered into an
agreement with U.S. homebuilder D.R. Horton to offer its solar and
energy storage products across communities in California.
Under the agreement, Canadian Solar will provide a total home
energy battery back-up solution, which includes both its
high-efficiency solar panels and fully integrated residential
energy storage system, EP Cube. This solution allows homeowners in
D.R. Horton communities to store self-generated solar energy,
ensuring a reliable power source during peak electricity rate hours
and power outages.
D.R. Horton, America's largest homebuilder, has been building
high-quality, functional residences for individuals and families in
desirable locations since 1978. Over the next year, D.R. Horton
plans to construct thousands of homes in California. Upholding its commitment to
excellence, D.R. Horton has selected solar panels and batteries
manufactured by Canadian Solar, a leader in the renewable energy
industry known for its superior quality products.
Thomas Koerner, Senior Vice
President of Canadian Solar, commented, "We are thrilled to
collaborate with D.R. Horton to help homeowners significantly
reduce energy expenses amidst soaring electricity costs in
California. Our solar panels,
paired with the EP Cube, not only enable homeowners to save on
electricity bills, but also provide a reliable power source during
rolling blackouts, ensuring their homes remain functional and
comfortable."
About Canadian Solar
Canadian Solar was founded in
2001 in Canada and is one of the
world's largest solar technology and renewable energy companies. It
is a leading manufacturer of solar photovoltaic modules, provider
of solar energy and battery energy storage solutions, and developer
of utility-scale solar power and battery energy storage projects
with a geographically diversified pipeline in various stages of
development. Over the past 23 years, Canadian Solar has
successfully delivered over 125 GW of premium-quality, solar
photovoltaic modules to customers across the world. Likewise, since
entering the project development business in 2010, Canadian Solar
has developed, built, and connected over 10 GWp of solar power
projects and 3.3 GWh of battery energy storage projects across the
world. Currently, the Company has over 1.2 GWp of solar power
projects in operation, 6.5 GWp of projects under construction or in
backlog (late-stage), and an additional 19.8 GWp of projects in
advanced and early-stage pipeline. In addition, the Company has 600
MWh of battery energy storage projects in operation and a total
battery energy storage project development pipeline of around 56
GWh, including approximately 4.3 GWh under construction or in
backlog, and an additional 51.6 GWh at advanced and early-stage
development. Canadian Solar is one of the most bankable companies
in the solar and renewable energy industry, having been publicly
listed on the NASDAQ since 2006. For additional information
about the Company, follow Canadian Solar on LinkedIn or
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 general business, regulatory
and economic conditions and the state of the solar and battery
storage market and industry; geopolitical tensions and conflicts,
including impasses, sanctions and export controls; volatility,
uncertainty, delays and disruptions related to the COVID-19
pandemic; supply chain disruptions; 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 Japan, the U.S., China, Brazil
and Europe; changes in effective
tax rates; changes in customer order patterns; changes in product
mix; changes in corporate responsibility, especially environmental,
social and governance ("ESG") requirements; capacity utilization;
level of competition; pricing pressure and declines in or failure
to timely adjust average selling prices; delays in new product
introduction; delays in utility-scale project approval process;
delays in utility-scale project construction; delays in the
completion of project sales; continued success in technological
innovations and delivery of products with the features that
customers demand; shortage in supply of materials or capacity
requirements; availability of financing; exchange and inflation
rate fluctuations; litigation and other risks as described in
Canadian Solar's filings with the Securities and Exchange
Commission, including its annual report on Form 20-F filed on
April 26, 2024. Although Canadian
Solar and Recurrent Energy believe 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 and Recurrent Energy undertake no duty to update
such information, except as required under applicable law.
Canadian Solar Inc. Investor Relations
Contacts
Wina Huang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com
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SOURCE Canadian Solar Inc.