PR Newswire - Canadian Solar Releases New TOPCon 2.0 / 660 Wp N-Type Module with up to 24.4% Efficiency for Utility and C&I PV Systems

KITCHENER, ON, May 6, 2025 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced the launch of its new N-type high power TOPBiHiKu CS6.2 module series for both Utility and Commercial & Industrial Systems. Based on the latest TOPCon cell technology, the module delivers a maximum power output up to 660 Wp and a conversion efficiency of up to 24.4%. Canadian Solar is beginning with its global deliveries in August 2025.

The TOPCon 2.0 module series integrates cutting-edge innovations to maximize energy yield and system value for maximum system performance and output with the following key technical innovations:

• Fine line printing: Reduces finger width by over 30%, minimizing shading effect and improving incident light utilization by 1% (absolute).
• Advanced firing process: Improves contact resistance and reduces carrier recombination in the contact area, increasing open-circuit voltage by 10 mV.
• Rear polysilicon optimization: Minimizes parasitic absorption and reduces current loss, achieving bifaciality of up to 90%.
• Next-gen passivation: Reduces emitter recombination losses by up to 20%, increasing cell efficiency by 0.1% (absolute) via open-circuit voltage optimization.
• Ultra-precise SMBB design: Minimizes electrical resistance and associated power losses.

Canadian Solar's new N-type high power module enhances project economics, offering up to 90% bifaciality, an optimized temperature coefficient (-0.28%/°C) which enables up to 2% lower balance of system costs, and up to 5% reduction in LCOE compared to today's standard TOPCon PV modules.

Thomas Koerner, Corporate Senior Vice President of Canadian Solar, remarked, "We are pleased to announce our new N-type high power module. The CS6.2 module-series represents a significant leap forward in solar technology, delivering highest module efficiency, significantly lower LCOE, and greater sustainability for utility and commercial and industrial PV projects. With this launch, we reaffirm our commitment to innovation and customer centric developments as a leader of the global energy transition."

The TOPCon 2.0 module series will be showcased at Intersolar Europe from May 7 to 9, in Munich, Germany. Visit Canadian Solar booth A2.380 to learn more.

About Canadian Solar Inc.

Canadian Solar is one of the world's largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 24 years, Canadian Solar has successfully delivered nearly 150 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 10 GWh of battery energy storage solutions to global markets as of December 31, 2024, boasting a US$3.2 billion contracted backlog as of December 31, 2024. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 11.5 GWp of solar power projects and 4.5 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 25 GWp of solar and 75 GWh of battery energy storage capacity in various stages of development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Safe Harbor/Forward-Looking Statements 

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business, regulatory and economic conditions and the state of the solar power and battery energy storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to global pandemics; supply chain disruptions; governmental support for the deployment of solar power and battery energy storage; future available supplies of silicon, solar wafers and lithium cells; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as China, the U.S., Europe, Brazil and Japan; changes in effective tax rates; changes in customer order patterns; changes in product mix; changes in corporate responsibility, especially environmental, social and governance ("ESG") requirements; capacity utilization; level of competition; pricing pressure and declines in or failure to timely adjust average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; the pipeline of projects and timelines related to them; the ability of the parties to optimize value of that pipeline; continued success in technological innovations and delivery of products with the features that customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange and inflation rate fluctuations; litigation and other risks as described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 30, 2025. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

CANADIAN SOLAR INC. INVESTOR RELATIONS CONTACT
Wina Huang
Investor Relations Canadian Solar Inc.
investor@canadiansolar.com