{"id":42206,"date":"2020-08-13T08:07:21","date_gmt":"2020-08-12T21:37:21","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=42206"},"modified":"2020-08-13T08:07:21","modified_gmt":"2020-08-12T21:37:21","slug":"canadian-solar-q2-2020-mb1642","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/canadian-solar-q2-2020-mb1642\/","title":{"rendered":"A Successful Q2 For Canadian Solar"},"content":{"rendered":"

\"Canadian<\/p>\n

Canadian Solar last week announced its financial results for the quarter ended June 30, 2020, which exceeded expectations.<\/p>\n

The company reports total solar panel shipments in the second quarter of 2020 hit 2,905 MW capacity, up substantially from 2,214 MW in the first quarter of this year and 2,143 MW in the second quarter of 2019. Of the 2020 second quarter total, 281 MW was shipped to Canadian Solar’s utility-scale solar power projects.<\/p>\n

The firm notes its panels were shipped to 80 countries in the second quarter of 2020 and among the top five markets for its Module and System Solutions (MSS) business in terms of revenue was Australia. Canadian Solar panels<\/a> have been consistently popular in Australia given their performance, reliability and pricing point, and the company is currently listed on SQ’s trusted solar panel brands chart<\/a>.<\/p>\n

Canadian Solar Chairman and CEO Dr. Shawn Qu commented that despite challenging market conditions, second quarter results exceeded expectations both on revenue and profits. The company achieved net revenue of USD $696 million, well exceeding guidance of $630 million to $680 million.<\/p>\n

Looking ahead, the company expects total module shipments for the third quarter of 2020 to be in the range of 2.9 GW to 3.1 GW. For the full year of 2020, it pegs shipments in the range of 11 GW to 12 GW and is currently planning for 18 GW to 20 GW of shipments in 2021.<\/p>\n

Polysilicon Challenges<\/h2>\n

President and COO Yan Zhuang says while the current polysilicon supply disruption and shortage present a near-term challenge for the company, Canadian Solar is positioning itself for long-term growth.<\/p>\n

The polysilicon issue was triggered by a series of explosions in July at a major production facility owned by GCL-Poly, one of the world’s largest polysilicon manufacturers. This and additional safety measures other Chinese polysilicon manufacturers have subsequently been forced to adopt has led to supply issues and a significant increase in the cost of polysilicon<\/a> – up from below USD $7 a kilogram (global spot price average) in Q2, to $10.31 as at today.<\/p>\n

Canadian Solar expects the impact of the polysilicon supply disruption to lessen over the coming quarters as suppliers restore temporarily shut-down manufacturing capacity and restart some currently idled, higher-cost capacities.<\/span><\/p>\n

Planned Manufacturing Capacity Expansion<\/h2>\n

Canadian Solar notes it plans to achieve 10,050MW solar cell manufacturing capacity by the end of next month (up from 9,700MW at the end of June) and 14,010MW solar panel manufacturing capacity (up from 13,950MW). By December, planned cell capacity is 10,150MW and 16,060MW module manufacturing capacity.<\/p>\n

More from the company’s second quarter 2020 results can be found here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Canadian Solar last week announced its financial results for the quarter ended June 30, 2020, which exceeded expectations.<\/p>\n","protected":false},"author":17,"featured_media":42207,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-42206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"\nA Successful Q2 For Canadian Solar - SolarQuotes Blog<\/title>\n<meta name=\"description\" content=\"Canadian Solar last week announced its financial results for the quarter ended June 30, 2020, which exceeded expectations.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.solarquotes.com.au\/blog\/canadian-solar-q2-2020-mb1642\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Successful Q2 For Canadian Solar\" \/>\n<meta property=\"og:description\" content=\"Canadian Solar last week announced its financial results for the quarter ended June 30, 2020, which exceeded expectations.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.solarquotes.com.au\/blog\/canadian-solar-q2-2020-mb1642\/\" \/>\n<meta property=\"og:site_name\" content=\"SolarQuotes Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SolarQuotes\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-12T21:37:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/08\/canadian-solar.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Michael Bloch\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@solar_quotes\" \/>\n<meta name=\"twitter:site\" content=\"@solar_quotes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/canadian-solar-q2-2020-mb1642\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/canadian-solar-q2-2020-mb1642\/\"},\"author\":{\"name\":\"Michael Bloch\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#\/schema\/person\/66afd571aa00c2e442f0192ebac2f6f1\"},\"headline\":\"A Successful Q2 For Canadian Solar\",\"datePublished\":\"2020-08-12T21:37:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/canadian-solar-q2-2020-mb1642\/\"},\"wordCount\":420,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/canadian-solar-q2-2020-mb1642\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/08\/canadian-solar.jpg\",\"articleSection\":[\"General Solar & Storage News\"],\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.solarquotes.com.au\/blog\/canadian-solar-q2-2020-mb1642\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/canadian-solar-q2-2020-mb1642\/\",\"url\":\"https:\/\/www.solarquotes.com.au\/blog\/canadian-solar-q2-2020-mb1642\/\",\"name\":\"A Successful Q2 For Canadian Solar - 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This total was comprised of\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"JinkoSolar panels","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/06\/jinkosolar-panels.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/06\/jinkosolar-panels.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/06\/jinkosolar-panels.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/06\/jinkosolar-panels.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/06\/jinkosolar-panels.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":60196,"url":"https:\/\/www.solarquotes.com.au\/blog\/jinkosolar-q4-2021-mb2407\/","url_meta":{"origin":42206,"position":3},"title":"JinkoSolar Releases Q4 And Full Year 2021 Results","author":"Michael Bloch","date":"March 24, 2022","format":false,"excerpt":"Solar panel manufacturer JinkoSolar is very pleased with its results for what the company described as a very challenging year. In terms of the final quarter of last year, the company's shipments reached 9,024 MW for solar panels and 669 MW for cells and wafers. Jinko says its total shipments\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"JinkoSolar 2021 results","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/03\/jinkosolar-panels.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/03\/jinkosolar-panels.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/03\/jinkosolar-panels.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/03\/jinkosolar-panels.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/03\/jinkosolar-panels.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":14883,"url":"https:\/\/www.solarquotes.com.au\/blog\/jinkosolar-eagle-ac-panel-mb0200\/","url_meta":{"origin":42206,"position":4},"title":"JinkoSolar Announces Eagle AC Solar Module","author":"Michael Bloch","date":"September 11, 2017","format":false,"excerpt":"JinkoSolar has formally announced its new Eagle AC solar panel, a monocrystalline PERC PV module incorporating Enphase Energy's IQ6 microinverter. JinkoSolar says the \"plug and play\" Eagle AC will simplify logistics, with fewer components needing to be stocked, transported and installed.\u00a0 The panel\/microinverter pairing also provides a single point of\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Jinko Eagle AC solar panels","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/09\/jinko-solar-eagle-ac.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/09\/jinko-solar-eagle-ac.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/09\/jinko-solar-eagle-ac.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/09\/jinko-solar-eagle-ac.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":64878,"url":"https:\/\/www.solarquotes.com.au\/blog\/longi-jinko-solar-results-mb2610\/","url_meta":{"origin":42206,"position":5},"title":"Chinese Solar Panel Makers Posting Big Numbers","author":"Michael Bloch","date":"August 29, 2022","format":false,"excerpt":"Two of China's solar panel manufacturing heavyweights, JinkoSolar and Longi, have revealed recent module shipment figures - and they are eye-popping. Both companies were in the top 5 for global panel shipments in 2021, and both have again been busy cranking out modules during 2022. JinkoSolar Q2 2022 Results On\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Longi and Jinko Solar results","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/08\/longi-jinko-results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/08\/longi-jinko-results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/08\/longi-jinko-results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/08\/longi-jinko-results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/08\/longi-jinko-results.png?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/42206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/comments?post=42206"}],"version-history":[{"count":3,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/42206\/revisions"}],"predecessor-version":[{"id":42210,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/42206\/revisions\/42210"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media\/42207"}],"wp:attachment":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media?parent=42206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/categories?post=42206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/tags?post=42206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}