CSIQ's New Solar Cell Technology - Analyst Blog
June 08 2011 - 4:00AM
Zacks
Canadian Solar
Inc. (CSIQ) has introduced a new ELPS solar cell
technology that will provide monocrystalline solar cells efficiency
of up to 19.5% and polycrystalline cell efficiency of up to
18%.
The new ELPS solar cells are
expected to be in production process. Canadian Solar expects to
start shipping solar modules while incorporating the new technology
in the fourth quarter of 2011. The ELPS solar cells and a CS6P
module with these cells will be introduced during INTERSOLAR Europe
2011 in Munich, Germany.
The new ELPS Cell technology will
significantly lower the production cost per watt and will also
increase its energy efficiency. Additionally, the new solar cells
have the capacity to easily integrate with the existing production
lines.
Canadian Solar caters to a
geographically-diverse customer base spread across its key markets
in Germany, Spain and the U.S. The company also pursues a balanced
and diversified supply channel mix. Its major source of revenue is
the implementation of solar power development projects in the rural
areas of China, primarily in conjunction with government
organizations. To stay ahead of competition, the company focuses on
technologies such as high-output UMG silicon products and other
cell and module technologies, which are expected to be
commercialized in the near future.
However, off-late, its shipments
were impacted by higher solar cell prices in the market, which
eroded margins. The company is, therefore, ramping up its captive
solar cell capacity. However, it will take some time before the
company becomes self-sufficient for its solar cell requirements.
The company presently retains a short-term Zacks #4 Rank (Sell). We
have a long-term Neutral recommendation on the stock. The company’s
peers STR Holdings Inc. (STRI) holds a short-term
Zacks #2 Rank (Buy rating).
Canadian Solar Inc. is one of the
world's largest solar companies. As a leading vertically integrated
provider of ingots, wafers, solar cells, solar modules and other
solar applications, Canadian Solar designs, manufactures and
delivers solar products and solar system solutions for on-grid and
off-grid use for customers worldwide. With operations in North
America, Europe and Asia, Canadian Solar provides premium quality,
cost-effective and environmentally-friendly solar solutions to
support global and sustainable development.
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