Canadian Solar's High-Power Modules Up to 670W Recognized as Top Quality, High Reliability and Low LCOE by DNV

Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), today announced that it has recently received from DNV "Canadian Solar HiKu7 and BiHiKu7 Technology Review Report ". DNV concludes in the Report that Canadian Solar's 210-mm cell based HiKu7 and BiHiKu7 modules, with power output up to 670W, are highly reliable, of top quality and with 3% lower LCOE (Levelized Cost of Energy).

Founded in Oslo, Norway in 1864, DNV is a world leading independent third-party expert in product certification, risk management and assurance.

DNV has carried out a comprehensive review of the HiKu7 and BiHiKu7 modules, assessing them on the production process, performance, reliability, and the LCOE analysis.

• DNV audited the entire manufacturing process of the mono-facial HiKu7 and bifacial BiHiKu7 modules, including the incoming materials management, processes, quality control, etc.. DNV rated Canadian Solar at A+ for the HiKu7 and BiHiKu7 product lines.
• DNV noted that HiKu7 and BiHiKu7 modules possess industry-leading module efficiencies of up to 21.6%, a Pmax (Nominal Max. Power) temperature coefficient of -0.34%/?.The LID and LeTID are controlled at 0.5% or less for the modules through improved manufacturing recipes and tighter material specifications. These indicate that the expected field performance of these modules would be better than that of typical commercial modules.
• DNV reviewed Canadian Solar's reliability assurance program (including on-going reliability testing), component-level testing for service life, and mechanical testing. These testing include but not limited to thermal cycling with 400 cycles, damp heat with 2,000 hours, PID with 192 hours, double IEC testing standards. After these stringent testing, the above-mentioned modules show a power loss less than 2%.
• A solar power system with BiHiku7 will require fewer pieces of modules, thus fewer BOS (Balance of System) components, and an overall reduction in system CAPEX and LCOE.

With module efficiencies of up to 21.6%, A+ factory rating, and exceptional performance and durability testing results, DNV recommends a useful life assumption of 35 to 45 years in financial modeling for projects using Canadian Solar BiHiKu7 modules.

Dr. Shawn Qu, Chairman and CEO of Canadian Solar, remarked, "I am glad our HiKu7 and BiHiKu7 modules are appraised by DNV independently on product reliability, LCOE and manufacturing quality. The results verify Canadian Solar's advanced module technologies and strict quality control system. We are committed to providing the best performance/price ratio products to our customers around the world."