Canadian Solar, a Tier 1 manufacturer of photovoltaic modules, inverters and batteries, has just received certification for its high-power modules (up to 670 W), which attest to their total reliability, high quality and levelized cost of energy (LCOE) 3% lower.
The recognition was carried out by DNV, an independent company and world leader in product certification, risk management and assurance, through an analysis and review report – Technology Review Report for the HiKu7 & BiHiKu7 modules.
The certifier audited everything from the module manufacturing process, management of received materials, processes, quality control, among others. DNV reviewed Canadian Solar's reliability guarantee program, carrying out performance tests such as thermal cycle tests with 400 cycles, damp heat with 2 thousand hours and PID with 192 hours, double the standards stipulated by the IEC, obtaining results that showed an energy loss of less than 2%.
Also according to the report, the HiKu7 & BiHiKu7 modules have industry-leading efficiencies, as well as temperature coefficients of up to -0,34% / °C and LID and LeTID degradation in the range of 0,5% or less, which result in field performance superior to that of standard commercial modules. This is possible thanks to excellence in the selection and specification of materials.
All these attributes, attested and certified by DNV, led it to recommend a useful life assumption of 35 to 45 years for financial modeling purposes for projects using Canadian Solar BiHiKu7 modules.
For Shawn Qu, president and CEO of Canadian Solar, the results confirm the advanced technologies used in the company’s modules and the rigorous quality control system. “Our commitment is to provide the best products in which the performance and price ratio is ideal for our customers around the world,” he commented.
Pedro Alves, general manager of Canadian Solar for Latin America, analyzes that the positive certification carried out by DNV, recognizes all the effort of the Canadian team in the constant search for innovation, excellence in its products, high performance and sustainability.
To check the report click here and download the Canadian Solar HiKu7 & BiHiKu7 Technology Review Report Executive Summary.
Bankability and what it represents for the solar sector
This is a classification that helps investors assess the risk scale when making investments. Among equipment manufacturers, whether modules or inverters, it is extremely important to pay attention to this indicator. All of these indicators show investors how solid a company is and also help improve the supply of credit and interest in operations.
Firstly, bankability indicates whether the company can deliver the agreed order, ensuring the financial planning of the project. Secondly, bankability guarantees good credit negotiations for large projects. Thirdly and finally, and most importantly, bankability attests to the company's ability to meet equipment warranties.
The latter is very particular to the solar segment, as projects employ equipment with a life expectancy of 25 to 30 years. For an investor, it is extremely important to have confidence that their supplier is able to maintain their healthy and profitable operations during this period.
