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Everything you need to know about Canadian Solar solar panels in 2024

Despite what the name of this company may suggest, Canadian Solar is a mainly Chinese-owned solar company that has the majority of its operations in China. However, it is one of the most advanced solar panel manufacturers in the world. The company shipped 18 GW of solar modules in 2020 and plans to increase this amount to 20 GW in 2021.

On the company's website they claim that an IHS Markit study of global solar panel buyers (installers, system integrators, and project developers) rated them as the number one panel on a scale IHS-designed to balance panel quality, financial bankability and value. If this study was truly independent, then this is a big wrap for the company.

One of the strengths of Canadian Solar is that it has been listed on the NASDAQ for a long time and so there is long term visibility into the company’s finances, something absent in the case of some other Chinese manufacturers. Only Trina Solar and Canadian Solar have been ranked as a "bankable" solar brand every year by Bloomberg New Energy Finance since 2014.

There is no doubt Canadian Solar is both high quality and low cost. Our advice to solar buyers is that you should not be scared of buying Canadian Solar Panels over brands that are better known in the US market, such as LG and SunPower. You should ask solar companies that offer you quotes for something like a SunPower or LG to also quote you with a high quality, low-cost Tier 1 panel such as a Canadian or a Jinko just to see the difference in price. Although the efficiency and temperature coefficient of their panels are slightly lower than with SunPower and LG in real-world conditions they produce almost exactly the same amount of power as an LG or SunPower system of the same size (e.g. 10kW)