Canadian Solar Releases NewEdge Roof-Mounting Solar Panels in USA

USA - English

USA - English

USA - English

The NewEdge Panels with New Zep System(TM) Radically Reduce Installation Time and Costs

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Mar 31, 2010, 07:30 ET

SAN RAMON, Calif., March 31 /PRNewswire-Asia-FirstCall/ -- Canadian Solar (USA) Inc., a subsidiary of Canadian Solar Inc. ("the Company," "Canadian Solar" or "we") (Nasdaq: CSIQ) today announced the launch of its NewEdge solar panels, which are compatible with the new Zep roof-mounting System, as well as several other existing mounting systems. The NewEdge panels will provide one of the solar industry's fastest and most cost effective ways to install photovoltaic (PV) solar systems on residential roofs. The NewEdge modules with Zep Solar's breakthrough rail-free, auto-grounding system could slash residential installation costs in half and reduce the amount of time installers spend on a roof by 75 percent. The NewEdge modules come in two types, NewEdge CS5A-180/185/190/195/200MX, which uses 5" monocrystalline silicon, and NewEdge CS6P-220/230/240/250PX, which uses 6" polycrystalline silicon. PV systems with NewEdge panels yield significant financial, labor and performance improvements when compared to traditional roof-mounted solar systems.

The Zep System offers one of the solar industry's most robust methods for grounding PV solar arrays; the system is ETL-listed to UL 1703 and UL 467, thus assuring proper grounding for the life of the system. Together with Canadian Solar's NewEdge panels, consistently ranked among the highest- performing in independent third-party tests, installers can be assured that the solar system installation will not only be cost-effective, but will also produce at the top of the module performance range. Canadian Solar's CS6P and CS5A modules lead in PV USA (or PTC) ratings, which are quickly becoming universally accepted standards for real-world module power and performance.

Canadian Solar is the first solar panel manufacturer to provide the Zep Compatible NewEdge panels, and we're looking forward to offering installers this high quality and forward-thinking solar technology," said Mike Miskovsky, general manager of U.S. operations for Canadian Solar. "The Zep System represents a turnaround in standard installation practices and hardware. Canadian Solar is building on our market leadership and reputation for high quality products by coupling our high performance modules with this leading next-generation installation technology."

"Since solar panel prices have decreased over the past several years, solar installation labor costs are becoming increasingly significant, underscoring the need for an ultra fast way to safely install and ground solar arrays," said Jack West, CEO and CTO of Zep Solar. "Given the game-changing possibilities of the Zep platform, it fits to have partnered with a company as forward-thinking as Canadian Solar for our initial release. We are pleased with the quality of their products and the strength of their organization."

Availability

Canadian Solar's NewEdge modules CS6P-220/230/240/250PX and CS5A- 180/185/190/195/200MX with Zep Compatible System will be available for order through reseller partner groSolar in April 2010. Zep will be offering a commercial rooftop system with Canadian Solar NewEdge panels in July 2010.

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 ingot, wafer, solar cell, solar module 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 and Asia, Canadian Solar provides premium quality, cost-effective and environmentally- friendly solar solutions to support global, sustainable development. For more information, visit http://www.canadiansolar.com .

    U.S. offices: 12657 Alcosta Blvd, Suite 140, San Ramon, CA  94583
    Telephone: 1-925-866-2700
    Fax: 1-925-866-2704

About Zep Solar

Zep Solar, Inc. is an innovative manufacturer of new-generation PV mounting technology based in San Rafael, CA. Zep Solar offers the world's first auto-grounding, drop-in mounting system listed to UL standards. Zep Solar is accelerating the adoption of solar technology by drastically reducing the costs associated with designing, shipping, warehousing and installing PV systems. To learn more about Zep Solar, visit http://www.zepsolar.com .

    Corporate Offices: 161 Mitchell Blvd. Suite 104, San Rafael, CA 94903
    Telephone: (415) 479-6900
    Fax: (415) 479-6901

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 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, including customers of our silicon materials sales; changes in demand from major markets such as Germany and Canada; risks associated with building our new Ontario facility; 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 originally filed on June 8, 2009, as amended by its report on Form 20-F/A filed on October 14, 2009. 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.