Canadian Solar to Offer Six Year Product Warranty
Canadian Solar Inc. ("the Company", "Canadian Solar" or "we") (Nasdaq: CSIQ) today announced it would offer a six year warranty on module material and workmanship, extended from two years previously.
Under this extended warranty, Canadian Solar warrants its standard solar module products, which account for more than 90% of the Company's production, to be free from defects in materials and workmanship for a duration of 72 months from the date of delivery (EX-work). Some of the company's off-grid and specialty solar products may carry different warranty terms.
Dr. Shawn Qu, the President and CEO of Canadian Solar, commented, "This is one of the best product workmanship warranties in the PV industry and Canadian Solar is pleased to offer this extended warranty. This was a logical step for us given the high confidence we have in our product workmanship and positive real world feedback from customers. Our solar modules are designed and manufactured to the highest industry standards. For example, Canadian Solar is the only major solar module manufacturer accredited with ISO:TS 16949, the automotive Quality Management System standard since 2003. By extending the product warranty to 6 years, we want to make sure our customers can sit back and relax after they have completed their PV system with our modules. Importantly, while we are giving our customers a significant benefit we do not expect this to impact profitability. Rather, we believe our policy change will help increase sales and margin."