UPDATE - Canadian Solar not fazed by end of shingled panels import into US
Rooftop solar installation using Canadian Solar modules. Source: Canadian Solar.
Canadian Solar Inc (NASDAQ:CSIQ) today confirmed it has resolved its legal dispute with fellow solar panel maker Solaria Corporation and expressed confidence that its new all-black modules will be a better option for its US customers than the shingled panels it can no longer import into the country.
As announced by Solaria on Monday, the two competitors have entered into a settlement agreement under which Canadian Solar cannot import shingled solar modules into the US for seven years.
Canadian Solar said separately that neither party has admitted any liability or wrongdoing as part of the settlement deal and that no payment will be made either.
Shawn Qu, chairman and CEO of Canadian Solar, noted that the settlement does not lead to changes to the company’s product offerings as it had already discontinued the particular shingled solar module technology several months earlier.
"Our newest all black modules can achieve significantly higher power output and module efficiency, and this will give our customers even better performance than the previous shingled cell technology they have replaced," said Qu.