Canadian Solar Inc. (Canadian Solar) is one of the largest manufacturers of solar panels. It is a Chinese Company based in Guelph, Ontario, Canada. According to Bloomberg, the Company is a provider of solar power products, services, and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia, and Asia (Canadian Power). The Company was founded in 2001 in Ontario, Canada. Today the Company has successive subsidiaries in 19 countries around the world. China and Canada is where the Company’s manufacturing facilities are located. The Company markets their products to diverse customers in various markets, including Germany, Italy, France, Spain, Czech Republic, China, the US, Canada, Japan, and India. Canadian Solar is headquartered in Guelph, Ontario, Canada.
The Company is listed as CSIQ on the NASDAQ market with reported revenues of (US Dollars) US$3,744.5 million for the fiscal year ended December 2018 (FY2018), an increase of 10.4% over FY2017. In FY2018, the Company’s operating margin was 9.7%, compared to an operating margin of 7.9% in FY2017. In FY2018, the Company recorded a net margin of 6.3%, compared to a net margin of 2.9% in FY2017 (E Trade, 2019).
Canadian Solar employees 12,000 people in 12 different countries, 70% work in China, and of those 30% are female. Canadian Solar has strong employee labor rights in all of their facilities.
The Company’s vision, as described by Dr. Qu is to foster sustainable development and to make lives better by bringing electricity powered by the sun to millions of people worldwide (Canadian Solar Inc., 2018). Canadian Solar Inc.’s mission is the delivery of clean, safe and affordable solar energy (Canadian Solar Inc., n.d.).
Customers have a choice to invest in a single module or a tailor-made energy solution. In an effort to help those customers make difficult choices, Canadian Solar is dedicated and has made it a mission since their inception, to help customers make changes for the betterment of their lives. Their PV panels are thoroughly tested and proven to work effectively even under harsh conditions. Their dedication to their products and to supporting their customers in over 20 countries also demonstrates attractive bankability for the Company. Their customers can always depend on Canadian Solar Inc. to deliver quality products and are content with showing their buying commitments and devotion to support an exceedingly credible solar energy business.
Product or service description
Canadian Solar Inc. is a leading global provider of solar energy and the manufacture of solar PV modules. With successive subsidiaries in counties like the USA, Brazil, Canada, south-east Asian counties, and China, the Company provides service and produce over 36 GW of quality solar modules. Additionally, the Company’s energy segments are primarily developed, operated, maintained and sold in the aforementioned successive subsidiaries. The Company has 4.7 GW solar power plants built globally. These plants maintain a power source operating at 795.8 MWp with an estimated resale value of one billion US dollars (Canadian Solar, 2018).
Products include module segment, energy development segment, and electricity generation as well as the design, development, manufacture, and sale of solar power products for use in a range of residential, commercial and industrial solar power generation systems. The Company offers various products, including ingots, wafers, solar cells, solar power systems, and solar products.
Canadian Solar is dedicated to making a difference and changing the lives of all their customers with the intention to retain and attract new ones. Regardless of the customers investment decision in a stand-alone module or an alternate energy solution, the Company guarantees their products and services. Further, these panels provide a steadfast energy resource even when challenged with severe climate changes. To assure the effectiveness of their products, Canadian Solar Inc. closely assess their PV panels before final distribution. As a precautionary measure, the Company offer their customers a 25-year warranty to use towards any unexpected malfunctions. Based on this declaration and the excellent customer support in over 20 countries, Canadian Solar is an attractive Company for investing and purchasing products. Canadian Solar Inc. made a promise to their customers. Additionally, this promise was to always make their customers feel comfortable with their decisions to conduct business with the Company because of their status as a highly ranked, reliable service provider and manufacturer of solar energy products (One Stop Report, 2019).
Canadian Solar’s value proposition is to make a difference, a positive contribution to society and the environment by providing exceptional, sustainable products and services for all its stakeholders (Canadian Solar Inc., 2019). In their 2018 Sustainability Report (2019), the Company states we are here to do good while doing good business. To that end, Canadian Solar not only believes in providing superior quality products but being socially responsible, by promoting awareness, supporting local communities, preserving fairness in trade and ensuring diversity and inclusion in its workforce.
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