Canadian Solar Introduces New Grid-tied Residential Energy Storage Solution
Canadian Solar (NASDAQ:CSIQ) +2.7% in Tuesday’s trading as it introduced EP Cube Lite, a more affordably priced version of EP Cube that the company said “will significantly improve the financial benefits for American households installing integrated solar and battery storage systems.”
The company said EP Cube Lite will allow homeowners to lower their electric bills by shifting use of lower-cost daytime energy to be used in the evening when rates are typically higher.
The grid-tied energy storage solution is “scalable and customizable from 6.6 kWh to 19.9 kWh capacities and compatible with most existing PV systems, allowing homeowners to right-size their energy storage to their needs,” the company said.
Canadian Solar (CSIQ) introduced EP Cube Lite at RE+ in Las Vegas, the clean energy industry’s largest event in North America.
More on Canadian Solar
Canadian Solar (NASDAQ: CSIQ) was founded in 2001 and made its debut on the NASDAQ in 2006. Over the past two decades, Canadian Solar has become a global leader in solar energy and energy storage solutions. We have also ventured into the development of large-scale solar power plants and battery storage projects worldwide.
As of the end of June, our presence spans across more than 30 countries, with a dedicated workforce exceeding 18,500 employees. Canadian Solar holds a majority ownership stake of 72% in CSI Solar Ltd, which conducted its initial public offering on the Shanghai Stock Exchange in June 2023. CSI Solar encompasses solar module and battery storage manufacturing, as well as the provision of comprehensive system solutions, including inverters, solar system kits, and EPC services.
By the conclusion of March 2024, CSI Solar anticipates its production capacities for ingots, wafers, cells, and modules to reach 20.4GW, 30GW, 54GW, and 59GW, respectively.
By enhancing vertical integration within our manufacturing processes, we aim to exert greater control over technology, costs, and the supply chain, fortifying our long-term competitive edge. CSI Solar’s battery storage division encompasses turnkey utility-scale battery system solutions and residential battery storage services.
These solutions are further enhanced by long-term service agreements, which include provisions for future battery capacity expansions. For more information, please visit the CSI Solar website. Canadian Solar retains 100% ownership of Recurrent Energy (formerly known as Global Energy until June 2023). Recurrent Energy stands as one of the world’s premier clean energy project developers, boasting 14 years of experience in delivering nearly 9GW of solar power projects and 3GWh of battery storage projects.
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