When shopping for a solar energy system, most people focus on price, efficiency, and environmental benefits, as they should.
However, they are leaving out a crucial factor – bankability. In fact, it should be one of the most important factors considered by potential owners, as it impacts the warranty coverage in a crucial way. Here, we look at the bankability of Canadian Solar, and why this factor should put this brand at the top of your list.
A rock-solid solar energy business.
Canadian Solar was founded in 2001 in Ontario, Canada with a bold mission to power the world with solar energy and create a better and cleaner Earth for future generations. Since then, Canadian Solar has grown into one of the world’s largest solar photovoltaic products and energy solutions providers, as well as one of the largest solar power plant developers globally.
For the past 20 years, Canadian Solar has been providing solar panels to customers in more than 160 countries. To achieve its excellence, Canadian Solar ensures that the product you are receiving is of high quality. Each product undergoes quality checks in over 400 quality control points for every module product from raw materials to product delivery. Just recently, the company has extended their product warranty on most of their product ranges to 25 years— which make these significantly superior to other brands.
How is this relevant to warranty?
For a company to be able to uphold a lengthy warranty, such as 25 years, they still need to be in business after 25 years and beyond. This is why bankability is a critical factor. Bankability takes into account the quality of the product as well as the financial stability of the manufacturer. If a solar manufacturer has a high bankability rating, it means financial institutions are willing to fund a project a reasonable interest rate, which makes the company credible and reliable in the market.
Canadian Solar’s enviable bankability.
In the 2020 BloombergNEF’s PV Module & Inverter Bankability Report, Canadian Solar has received the highest PV Module bankability rating. This is the 6th year that Canadian Solar has ranked in the top 10 bankable module brands by BloombergNEF.
According to Canadian Solar’s Investor Presentation for the first quarter of the year 2021, Canadian Solar shows 100% bankability with significant growth visibility and healthier market dynamics 7 times over the past decade. This statistic shows a lower risk and high return outlook in the solar industry. Canadian Solar also has a proven track record of developing and building over 5.7 GWp solar projects in over 20 countries worldwide and is on track to exceed 7 GWp in 2021.
With these outstanding statistics, it’s no wonder that Canadian Solar will still be around longer than your warranty coverage!
Canadian Solar’s strategy is always looking into the future, to ensure longevity. It aims to expand capacity and increase the level of vertical integration through demand growth and supply consolidation. This will enable the company to gain global market share, enhance pricing power, better control costs and improve their profitability over the long run.
You can find out more about Canadian Solar’s business vision and bankability here.
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Could your home or business do with lower power bills and an energy solution that is going to give you clean, reliable energy for years and years? Get in touch with us for an energy assessment to find out how much you could save. Use our contact form here, or give us a call on 1300 768 977.