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Jeffersonville, Indiana facility will include more than 1,200 employees that will strengthen U.S. manufacturing, supply-chain resilience, and energy dominance

, /PRNewswire/ -- CS PowerTech Inc., a subsidiary of Canadian Solar Inc. (NASDAQ: CSIQ) and the largest silicon PV solar manufacturer in the U.S., today announced the official opening of the first phase of its flagship PV cell manufacturing facility at the River Ridge Commerce Center in Jeffersonville, Indiana. The Jeffersonville PVCells facility is a cornerstone of CS PowerTech's U.S. manufacturing platform, reshoring critical advanced manufacturing, strengthening U.S. supply-chain resilience, and supporting America's energy security.

Jeffersonville PVCells is the first American PV cell facility designed to produce industry-leading heterojunction (HJT) bifacial N-type solar cells. Together with CS PowerTech's module manufacturing plant in Mesquite, Texas, the Jeffersonville facility creates a more localized, vertically integrated supply chain to serve its customers and to strengthen critical U.S. energy infrastructure.

At full capacity, the facility is expected to produce more than 6 GWp annually, support more than 1,200 skilled manufacturing, engineering, and technical jobs in Southern Indiana, and represent nearly $1 billion in local investment.

Rusty Schmit, President of CS PowerTech Inc., said, "Jeffersonville is a cornerstone of our strategy to build one of North America's most advanced energy manufacturing supply chains. This facility will produce next-generation HJT solar cells, support domestic manufacturing, and ultimately strengthen grid reliability as our customers deploy the products. We are proud to invest in Indiana's workforce and work with regional partners to build a long-term center of excellence for solar technology and advanced manufacturing."

Colin Parkin, Chief Executive Officer of Canadian Solar Inc., added, "The Jeffersonville facility demonstrates our commitment to scaling one of the world's most advanced solar cell technologies in the United States. HJT technology is critical for the next generation of high-efficiency, high-performance solar modules, and this plant gives CS PowerTech the ability to deliver leading technology, improved energy yield, and long-term value for customers while strengthening domestic advanced manufacturing."

Governor Mike Braun, stated, "CS PowerTech's investment strengthens Indiana's position in advanced manufacturing, creates good-paying jobs for Hoosiers in the area, and reinforces our role in building the technologies that will continue to power America's future."

Indiana State Senator Chris Garten, stated, "CS PowerTech's investment in Jeffersonville is a major win for Southern Indiana. This facility will create over a thousand high-quality jobs, strengthen our advanced manufacturing base, and help position our region as a leader in the technologies that will power America's future."

Indiana State House Representative Wendy Dant Chesser, said, "Indiana's manufacturing workforce is second to none. We welcome CS PowerTech's investment at River Ridge and are excited to launch Southern Indiana into the lead for advanced energy manufacturing and technology."

Jeffersonville Mayor Mike Moore, stated, "CS PowerTech is an important part of Jeffersonville's growth story. This investment reflects the strength of our workforce and our city's position as a premier destination for advanced manufacturing."

Marc Hildenbrand, Executive Director of the River Ridge Development Authority, said, "CS PowerTech's investment validates River Ridge's long-term vision as a destination for transformational growth. This facility shows how infrastructure, talent, and strong public-private partnerships can attract world-class advanced manufacturing to Southern Indiana."

The Jeffersonville facility will ramp production to full capacity for phase one over the next few months and CS PowerTech expects to begin work on phase two expansion before the end of the year.

About CS PowerTech Inc.

CS PowerTech is one of the largest North American PV manufacturers. The company is a subsidiary of Canadian Solar Inc. (NASDAQ: CSIQ) and operates U.S.-based manufacturing and sales of solar modules and solar cells in Mesquite, Texas and Jeffersonville, Indiana, respectively. CS PowerTech is focused on building a cohesive and scalable U.S. manufacturing ecosystem that employs over 3,000 Americans, supports local communities, accelerates clean energy adoption, and reinforces long-term American energy dominance and independence.

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 25 years, Canadian Solar has successfully delivered nearly 177 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar had shipped over 20 GWh of battery energy storage solutions to global markets as of March 31, 2026, and had a $3.5 billion contracted backlog as of May 8, 2026. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12.2 GWp of solar power projects and 6.4 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 24 GWp of solar and 81 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, including those regarding the Company's expected future shipment volumes, revenues, gross margins, and project sales 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 "may", "will", "expect", "anticipate", "future", "ongoing", "continue", "intend", "plan", "potential", "prospect", "guidance", "believe", "estimate", "is/are likely to" or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the adoption of solar and battery energy storage technologies; our growth strategies, future business performance, and financial condition; our transition to a long-term owner and operator of clean energy assets and expansion of project pipelines; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks were described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 10, 2026. 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.
[email protected]

SOURCE Canadian Solar Inc.

, /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced it has been named a Tier 1 supplier of both battery energy storage systems and PV modules in the second annual list of S&P Global Energy's Tier 1 Cleantech Companies. This dual recognition reflects Canadian Solar's unique capability to deliver industry-leading solutions in both energy storage and solar technology.

S&P Global Energy's selection criteria are based on its unique cross-functional capabilities to provide an unmatched degree of criteria dimensions that span market presence and cumulative equipment shipments; annual market share; scale; global manufacturing diversification; financial performance via key financial indicators, sustainability factors, and more.

Edurne Zoco, Ph.D., Head of Clean Technologies and Supply Chains, S&P Global Energy, said, "What makes the S&P Global Energy Tier 1 list different is the breadth and depth of the data behind it. We look beyond market share, drawing on S&P Global's proprietary data on market leadership, financial performance, and sustainability to provide a more complete picture of supplier strength."

Colin Parkin, Chief Executive Officer of Canadian Solar, added, "We are proud to be recognized by S&P Global Energy as a Tier 1 supplier in both energy storage and photovoltaic modules. This recognition is designed to help cleantech suppliers stand out in a crowded market while giving developers and investors a clearer way to identify companies with a proven track record and stronger foundations for long-term success."

The S&P Global Energy Tier 1 Cleantech Companies List 2026 is not a placement ranking, but a roster of qualified companies meeting S&P Global Energy's robust methodology assessment and listed in alphabetical order by category. The group of companies considered for the S&P Global Energy Tier 1 Cleantech Companies assessment are selected from the top 30 companies for each of the five technology categories (Solar PV Modules, Solar PV Inverters, Energy Storage Systems, Energy Storage Battery Cells, & Wind Turbines), based on the top shipments or installations globally in the previous year.

The S&P Global Energy Tier 1 Cleantech Companies recognition is the first supplier classification in the cleantech industry to embed sustainability as a key criterion. The S&P Global Energy Tier 1 Cleantech Companies list will be updated annually, and therefore, reflect any changes that can occur year to year, depending on how the suppliers in each sector evolve in relation to each of the indicators in the assessment.

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 25 years, Canadian Solar has successfully delivered nearly 177 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar had shipped over 20 GWh of battery energy storage solutions to global markets as of March 31, 2026, and had a $3.5 billion contracted backlog as of May 8, 2026. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12.2 GWp of solar power projects and 6.4 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 24 GWp of solar and 81 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, including those regarding the Company's expected future shipment volumes, revenues, gross margins, and project sales 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 "may", "will", "expect", "anticipate", "future", "ongoing", "continue", "intend", "plan", "potential", "prospect", "guidance", "believe", "estimate", "is/are likely to" or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the adoption of solar and battery energy storage technologies; our growth strategies, future business performance, and financial condition; our transition to a long-term owner and operator of clean energy assets and expansion of project pipelines; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks were described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 10, 2026. 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.
[email protected]

SOURCE Canadian Solar Inc.

Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that it held its Annual Meeting of Shareholders on June 30, 2026. Each of the proposals submitted for shareholder approval was approved. Specifically, the shareholders approved:

The election of Shawn (Xiaohua) Qu, Harry E. Ruda, Andrew L.C. Wong, Lauren C. Templeton, Leslie Chang, Colin Parkin, and Yuan Z. Qu each as a director of the Company until the next annual meeting of shareholders of the Company or until their successors are elected or appointed; The re-appointment of Deloitte Touche Tohmatsu Certified Public Accountants LLP as the auditors of the Company until the close of the next annual meeting of shareholders of the Company or until its successor is appointed, and the authorization of the directors of the Company to fix the auditors' remuneration. 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 — delivering solar, storage, system integration and long-term operation under a single accountable partner. Over the past 25 years, Canadian Solar has successfully delivered nearly 177 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar had shipped over 20 GWh of battery energy storage solutions to global markets as of March 31, 2026, and had a $3.5 billion contracted backlog as of May 8, 2026. In North America, Canadian Solar operates local manufacturing to meet tariff and compliance requirements and safeguard on-schedule project delivery. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12.2 GWp of solar power projects and 6.4 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 24 GWp of solar and 81 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.

Canadian Solar Inc. Contact
Wina Huang
Investor Relations
Canadian Solar Inc.
[email protected]

SOURCE Canadian Solar Inc.

, /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced the launch of its new TOPCon 3.0 high-power-density photovoltaic module, tailored for utility-scale power plants as well as commercial and industrial (C&I) PV systems. With a power output of up to 670 Wp and a conversion efficiency of up to 24.8%, the new product is scheduled for global mass shipment starting in August 2026.

The TOPCon 3.0 high-power-density module delivers higher energy yield and lower Levelized Cost of Electricity (LCOE), improving project economics and long-term returns.

Higher power density: With a power output of up to 670 Wp, the module features a multi-cut technology based on large-format rectangular cells and enhanced light utilization, while maintaining a standard module size of 2382 × 1134 × 30 mm for optimum logistics and easy system integration.

Higher bifaciality: Cell poly-patterned technology and optimized back-side design enable PV module bifaciality of up to 90%, delivering an additional 0.4%–0.5% system-level energy gain.

Lower temperature coefficient: Advanced passivation technologies on cell edge and surface lower the PV module temperature coefficient to -0.26%/°C, improving PV system performance in high-temperature environments.

Together, these advanced cell and module technologies deliver high reliability and reduce degradation to ≤1% in the first year and 0.35% annually thereafter, ensuring over 88.85% output after 30 years.

For demanding conditions such as glare-sensitive, high-load, corrosive, and dusty environments, the TOPCon 3.0 module portfolio can be equipped with anti-glare glass, IoT (Internet of Things)-enabled junction box, and steel, composite, or anti-dust frames, enhancing PV system safety and visibility.

Dr. Shawn Qu, Executive Chairman and Chief Technology Officer of Canadian Solar, said, "With the launch of our TOPCon 3.0 module, we continue to advance high-efficiency PV technology, delivering up to 1.6% higher energy yield and up to 1.4% lower LCOE, translating into stronger lifecycle value and more predictable long-term returns for our global partners."

The TOPCon 3.0 high-power-density module will be showcased at Intersolar Europe from June 23 to 25 in Munich, Germany. Visit Canadian Solar at booth B2.250 to explore the new generation of high-efficiency PV technology.

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 25 years, Canadian Solar has successfully delivered nearly 177 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar had shipped over 20 GWh of battery energy storage solutions to global markets as of March 31, 2026, and had a $3.5 billion contracted backlog as of May 8, 2026. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12.2 GWp of solar power projects and 6.4 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 24 GWp of solar and 81 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, including those regarding the Company's expected future shipment volumes, revenues, gross margins, and project sales 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 "may", "will", "expect", "anticipate", "future", "ongoing", "continue", "intend", "plan", "potential", "prospect", "guidance", "believe", "estimate", "is/are likely to" or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the adoption of solar and battery energy storage technologies; our growth strategies, future business performance, and financial condition; our transition to a long-term owner and operator of clean energy assets and expansion of project pipelines; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks were described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 10, 2026. 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.
[email protected] 

SOURCE Canadian Solar Inc.

CSIQ expands U.S. manufacturing and builds a sizable solar and storage pipeline, but oversupply and cost pressures may test margins.

, /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that e-STORAGE, its energy storage solutions business, will supply a 75 MW / 381 MWh DC battery energy storage system (BESS) to Apex Clean Energy in Branch County, Michigan. The system will be co-located with Apex's operating Coldwater Solar facility.

Under the agreement, e-STORAGE will deliver a complete, integrated solution that combines SolBank 3.0 battery blocks with Power Conversion Systems and e-STORAGE's proprietary EQ‑S Energy Management System into one coordinated utility‑scale platform. Deliveries are scheduled to begin in early 2027, with commercial operation targeted for mid-2027. e-STORAGE will provide its proprietary 'SolBank' battery pack powered by its lithium-Ion phosphate-based battery cells, all produced at Canadian Solar's manufacturing facilities, giving the customer full supply chain visibility and compliance.

Coldwater Storage enters service against a firm policy backdrop: Michigan law requires utilities to bring 2,500 MW of energy storage online by 2030, and the state's largest coal units are slated to retire through 2032, removing dispatchable capacity from the MISO grid that storage must replace. Once operational, the project will store low‑cost energy and discharge it when demand peaks, helping firm the supply that Michigan is shifting toward solar and wind.

Ken Young, CEO of Apex, said: "Power demand is rising rapidly, and storage projects like Coldwater enable our grid to keep pace. e-STORAGE has the technology and the scale to deliver this project, and we're glad to be working once again with our partners at Canadian Solar."

Jeff Roy, President of e-STORAGE, said: "Michigan is rebuilding its power generation mix on a fixed timeline, and this collaboration shows how that target turns into reliable capacity on the ground. By supplying the batteries, power conversion, and our EQ-S controls as one integrated system, we serve as Apex's single accountable technology partner across the project's lifecycle."

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 25 years, Canadian Solar has successfully delivered nearly 177 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar had shipped over 20 GWh of battery energy storage solutions to global markets as of March 31, 2026, and had a $3.5 billion contracted backlog as of May 8, 2026. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12.2 GWp of solar power projects and 6.4 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 24 GWp of solar and 81 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.

About e-STORAGE
e-STORAGE is a subsidiary of Canadian Solar and a leading company specializing in designing, manufacturing, and integrating battery energy storage systems for utility-scale applications. e-STORAGE offers proprietary battery energy storage solutions, comprehensive EPC services, and innovative solutions aimed at improving grid operations. For more info, please refer to the Media&PR section of www.csestorage.com and follow our LinkedIn page.

Safe Harbor/Forward-Looking Statements
Certain statements in this press release, including those regarding the Company's expected future shipment volumes, revenues, gross margins, and project sales 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 "may", "will", "expect", "anticipate", "future", "ongoing", "continue", "intend", "plan", "potential", "prospect", "guidance", "believe", "estimate", "is/are likely to" or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the adoption of solar and battery energy storage technologies; our growth strategies, future business performance, and financial condition; our transition to a long-term owner and operator of clean energy assets and expansion of project pipelines; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks were described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 10, 2026. 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.
[email protected] 

e-STORAGE MEDIA CONTACT
[email protected] 

SOURCE Canadian Solar Inc.

Earnings are arguably the most important single number on a company's quarterly financial report. Wall Street clearly dives into all of the other metrics and management's input, but the EPS figure helps cut through all the noise.

Life and the stock market are both about expectations, and rising above what is expected is often rewarded, while falling short can come with negative consequences. Investors might want to try to capture stronger returns by finding positive earnings surprises.

Now that we know how important earnings and earnings surprises are, it's time to show investors how to take advantage of these events to boost their returns by utilizing the Zacks Earnings ESP filter.

The Zacks Earnings ESP, ExplainedThe Zacks Earnings ESP, or Expected Surprise Prediction, aims to find earnings surprises by focusing on the most recent analyst revisions. The basic premise is that if an analyst reevaluates their earnings estimate ahead of an earnings release, it means they likely have new information that could possibly be more accurate.

Now that we understand the basic idea, let's look at how the Expected Surprise Prediction works. The ESP is calculated by comparing the Most Accurate Estimate to the Zacks Consensus Estimate, with the percentage difference between the two giving us the Zacks ESP figure.

When we join a positive earnings ESP with a Zacks Rank #3 (Hold) or stronger, stocks posted a positive bottom-line surprise 70% of the time. Plus, this system saw investors produce roughly 28% annual returns on average, according to our 10 year backtest.

Stocks with a ranking of #3 (Hold), or 60% of all stocks covered by the Zacks Rank, are expected to perform in-line with the broader market. Stocks with rankings of #2 (Buy) and #1 (Strong Buy), or the top 15% and top 5% of stocks, respectively, should outperform the market; Strong Buy stocks should outperform more than any other rank.

Should You Consider SolarEdge Technologies?The last thing we will do today, now that we have a grasp on the ESP and how powerful of a tool it can be, is to quickly look at a qualifying stock. SolarEdge Technologies (SEDG - Free Report) holds a #3 (Hold) at the moment and its Most Accurate Estimate comes in at -$0.20 a share 13 days away from its upcoming earnings release on May 5, 2026.

SolarEdge Technologies' Earnings ESP sits at +15.22%, which, as explained above, is calculated by taking the percentage difference between the -$0.20 Most Accurate Estimate and the Zacks Consensus Estimate of -$0.23. SEDG is also part of a large group of stocks that boast a positive ESP. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

SEDG is just one of a large group of Oils and Energy stocks with a positive ESP figure. Canadian Solar (CSIQ - Free Report) is another qualifying stock you may want to consider.

Canadian Solar is a Zacks Rank #3 (Hold) stock, and is getting ready to report earnings on May 14, 2026. CSIQ's Most Accurate Estimate sits at -$1.06 a share 22 days from its next earnings release.

The Zacks Consensus Estimate for Canadian Solar is -$1.08, and when you take the percentage difference between that number and its Most Accurate Estimate, you get the Earnings ESP figure of +1.85%.

SEDG and CSIQ's positive ESP metrics may signal that a positive earnings surprise for both stocks is on the horizon.

Find Stocks to Buy or Sell Before They're ReportedUse the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>

On May 01, 2026, Canadian Solar Inc CSIQ shares rose 9.5% today, closing at $16.74. The stock has fluctuated significantly over the past year, with a 52-week range of $8.84 to $34.59.

GF Value™ verdict: Current price of $16.74 is 9.5% overvalued compared to a GF Value™ of $15.29.GF Score™ of 83/100 indicates a strong potential for long-term returns.Notable signal: No insider transactions reported in the last 3 months. Is CSIQ Overvalued or Undervalued? According to the GF Value™, Canadian Solar Inc's current price of $16.74 is considered to be 9.5% overvalued against its estimated fair value of $15.29. This overvaluation suggests a limited margin of safety for potential investors. The GF Valuation label indicates that CSIQ is fairly valued, which may imply that while there are no immediate bargains in the stock, investors should be cautious about entering at these levels due to the current price exceeding its intrinsic value.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Being overvalued poses risks, particularly if market conditions shift or if the company's performance does not meet expectations. Investors might want to wait for a more attractive entry point or consider the inherent risks associated with investing at a price that surpasses the calculated fair value.

How Does CSIQ's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 92.5x 15.6x The current P/E ratio of 92.5x is significantly higher than its 5-year median P/E of 15.6x, indicating that the stock is trading well above its historical valuation. This analysis aligns with the GF Value™ verdict, suggesting that CSIQ is overvalued based on its historical performance metrics.

What Does CSIQ's GF Score™ Tell Us? Metric Rating GF Score™ 83 Financial Strength 3/10 Profitability 6/10 Growth 8/10 Valuation 9/10 Momentum 8/10 CSIQ's GF Score™ of 83/100 indicates a relatively strong position in terms of growth and valuation, suggesting good potential for long-term returns. However, the financial strength score of 3/10 highlights a significant weakness that could impact the company’s stability and risk profile. The strong growth rank of 8/10 shows that the company has good growth prospects, while a valuation rank of 9/10 indicates that despite the current overvaluation, there is recognition of its growth potential in the market.

What Are Insiders Doing with CSIQ Stock? There have been no reported insider transactions in the last three months for Canadian Solar Inc. This lack of activity could suggest that insiders are not currently confident in the stock's potential at its current price levels or simply indicate a period of stability where no significant buying or selling activity is warranted.

What This Means for Investors Based on the GF Value™ assessment, Canadian Solar Inc CSIQ is currently overvalued. The current price of $16.74 exceeds the estimated fair value of $15.29, indicating a potential risk for new investors entering the market at this time.

For the complete analysis, visit the Canadian Solar Inc CSIQ stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is CSIQ's GF Score™?

CSIQ has a GF Score™ of 83/100, indicating a strong potential for long-term returns based on various financial metrics.

Is CSIQ overvalued or undervalued?

CSIQ is currently considered overvalued, with a GF Value™ of $15.29 compared to its current price of $16.74.

What is CSIQ's P/E ratio?

CSIQ's current P/E ratio is 92.5x, which is significantly higher than its 5-year median P/E of 15.6x, indicating that the stock is trading above its historical valuation levels.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

American solar installers have stopped doing business with China-backed U.S. production centers due to uncertainties about their products' eligibility for government subsidies

image credit: Bamboo Works

Key Takeaways: China-linked U.S. solar panel makers may be ineligible for U.S. subsidies aimed at supporting residential-based solar power, according to a Reuters report JinkoSolar is selling 75.1% of its U.S. plant in Florida to an American private equity company in an apparent attempt to keep its products eligible for subsidies As Donald Trump prepares to visit China later this week to meet with President Xi Jinping, U.S. protectionist measures against Chinese products are likely to be one of the top items on the agenda. An important part of that discussion could focus on solar energy products, not only ones produced in China but also ones made at Chinese-invested plants in the U.S.

The size of the stake sale is quite revealing, since legislation passed by the U.S. last year, with strong backing from the Trump administration, sharply cut subsidies for residential solar installations, and placed restrictions on subsidies that remained. One restriction prohibited subsidies for any installations using panels produced at factories that were more than 25% owned by Chinese companies.

"We believe this transaction provides the right ownership, management and strategic direction for this new venture to grow capacity and serve the growing demand for high performance U.S.-sourced renewable energy products," said JinkoSolar U.S. general manger Nigel Cockroft. The two sides added that following the deal, they plan to at least double capacity at the plant, currently at 2 GW annually, and also start producing energy storage systems.

Not surprisingly, China has criticized the restrictions, calling them discriminatory, according to the Reuters report, citing a spokesperson for the Chinese embassy in Washington.

Investors applauded the latest move by JinkoSolar, whose shares rose 5.3% on Friday after the announcement. The stock is up 30% over the last 52 weeks on hopes for a recovery for the embattled sector that has suffered for more than a year due to huge overcapacity built up over the last three years.

Signs for such a recovery look broadly positive, as the sector gains fresh momentum from the U.S. and Israeli war against Iran, which has sent oil prices to multi-year highs and underscored the need for more reliable energy sources. Even before that, solar module and panel prices were showing signs of stabilizing after more than a year of declines, as Chinese producers shut down older, more obsolete capacity under encouragement by Beijing.

Low value-added facilitiesWhile the sale of majority stakes of their U.S. plants may help Chinese companies avoid the restriction limiting their stakes to less than 25%, the reality remains that these plants are quite low tech and not really the kinds of facilities the Trump administration wants to attract. That's because the facilities are mostly involved in final module assembly, with most or all of their key components imported from China.

The U.S. tensions are also significant because other markets, most notably the EU and India, have expressed their own frustrations at China and have taken similar steps in the past.

These issues have been years in the making, and we doubt things will be solved overnight during Trump's visit to Beijing. But at least the leaders can exchange views directly to better understand the other side's concerns. China has already shown some willingness to consider the Western point of view with its recent cancellation of a yearslong policy that exempted Chinese solar manufacturers from paying some value-added tax for products they exported.

Meantime, JinkoSolar and its peers, despite the numerous headwinds they've faced over the last year, continue to show signs of a rebound.

While its massive losses and thin margins don't look too impressive on the surface, the trends look broadly positive for a recovery over the next year or two. Now, Beijing needs to work at the more macro level to create favorable conditions for its solar companies to export some of their expertise to reduce or eliminate some of the geopolitics that have plagued the industry over the last few years.

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KITCHENER, ON, May 14, 2026 /PRNewswire/ -- Canadian Solar Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ) today announced financial results for the first quarter ended March 31, 2026. First Quarter Highlights Solar module shipments of 2.5 GW, above guidance of 2.2 GW to 2.4 GW.

Is SunPower Stock Ready to Lead the Solar Market?Canadian Solar NASDAQ: CSIQ reported first-quarter 2026 revenue at the high end of its forecast and a stronger-than-expected gross margin, helped by tariff refund accruals, while the company still posted a net loss amid higher operating costs, foreign exchange losses and tax expense accruals.

Executive Chairman and Chief Technology Officer Dr. Shawn Qu said the company “started the year with strong momentum,” recognizing revenue on 2.5 gigawatts of solar modules and 2.1 gigawatt-hours of energy storage solutions, both above guidance. Total revenue was $1.1 billion, while gross margin was 25.1%.

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MarketBeat Week in Review – 5/22 - 5/26Canadian Solar recorded a net loss attributable to shareholders of $32 million, or $0.71 per diluted share. Qu said the quarter’s profitability was affected by elevated non-logistics operating expenses, foreign exchange losses and tax expenses tied to the tariff refund.

Qu said the solar downturn has lasted longer than expected, and that Canadian Solar has responded by focusing its module business on “key attractive markets” and reducing volumes in less profitable markets. He described the company’s approach as a “profit-first strategy.”

Leadership Transition Announced Solar Panel Demand Makes Canadian Solar a Buy-the-Dip OpportunityCanadian Solar also announced a leadership transition, with Colin Parkin taking over as chief executive officer. Parkin previously served as president of Canadian Solar and president of e-STORAGE.

Qu said the succession followed a long-term planning process approved unanimously by the board. Qu will remain executive chairman and chief technology officer, focusing on the company’s technology roadmap and long-term research and development strategy.

“Today, we are navigating a pivotal shift from volume-driven expansion to value-driven leadership,” Qu said.

U.S. Manufacturing Expansion Remains Central Parkin said U.S. manufacturing is the first pillar of Canadian Solar’s global strategy. The company’s solar cell factory in Jeffersonville, Indiana, produced its first trial heterojunction, or HJT, solar cell at the end of March. Parkin said the first phase has 2.1 gigawatts peak of nameplate capacity and is expected to ramp over the next two quarters.

The company is also expanding beyond its original U.S. solar cell capacity plan. Parkin said Canadian Solar expects to begin trial production for a second phase early next year, adding 4.2 gigawatts peak and bringing total U.S. solar cell nameplate capacity to 6.3 gigawatts peak.

Canadian Solar is also expanding its Mesquite, Texas, solar module factory. Parkin said the facility reached full ramp last year and is expected to double nameplate capacity to 10 gigawatts peak by the second half of this year, enabling the company to fulfill future U.S. volumes from the Texas site.

In the first quarter, the manufacturing segment generated $950 million in revenue and a gross margin of 29.1%. Parkin said the sequential gross margin increase was driven by healthy energy storage volumes and the tariff refund. The segment posted operating income of $127 million.

During the question-and-answer session, Qu said the company expects commercial operations from the U.S. cell facility “somewhere in July,” with the first modules using those cells potentially delivered to customers in August or September. He cautioned that producing HJT cells in the U.S. is a first for the industry and “not an easy task.”

Energy Storage Backlog Reaches $3.5 Billion Parkin said e-STORAGE shipped 2.6 gigawatt-hours of energy storage solutions during the quarter, including 500 megawatt-hours to internal and external projects under execution. Revenue was recognized on 2.1 gigawatt-hours.

The company said its internal production of lithium iron phosphate prismatic cells has become a competitive advantage, with a cost basis below the market price of third-party cells. Parkin said the company is expanding both battery cell and SolBank capacity at its integrated battery energy storage system and battery cell factory in Southeast Asia, with new production lines expected to come online in the first half of 2027.

As of May, Canadian Solar’s contracted e-STORAGE backlog totaled $3.5 billion, including 34 gigawatt-hours of operating projects under long-term service agreements.

Parkin said the company continues to pursue both front-of-the-meter and behind-the-meter data center applications. In response to an analyst question, he said Canadian Solar is “very engaged” on data center opportunities, though he said the company could not disclose the parties involved.

Recurrent Energy Posts Loss While Monetizing Assets Ismael Guerrero, chief executive officer of Recurrent Energy, said the project development subsidiary generated $139 million in first-quarter revenue, improving sequentially because of the sale of the Fort Duncan project. Guerrero called Fort Duncan the first standalone battery energy storage system project in the company’s portfolio financed with non-recourse project finance and without a capacity contract in place.

However, Recurrent Energy posted an operating loss of $60 million. Guerrero said relatively muted project sales and ongoing platform operating costs weighed on results. He added that monetizing operating and under-construction assets may create uneven profit-and-loss impacts in the near term, but said the strategy is necessary to reduce balance sheet leverage and recycle capital.

As of March 31, Recurrent Energy had secured interconnections for 7 gigawatts of solar and 14 gigawatt-hours of storage globally, excluding projects already in operation. Its total pipeline stood at 24 gigawatts of solar and 81 gigawatt-hours of energy storage. The company’s operations and maintenance platform had a contracted portfolio of 15 gigawatts, including 11.2 gigawatts already operational.

Second-Quarter Guidance Calls for Lower Margin Chief Financial Officer Xinbo Zhu said first-quarter gross margin was boosted by the accrual of tariff refunds, which contributed 860 basis points. He said that even excluding the one-time benefit, gross margin exceeded guidance because of strong storage volumes and a healthy geographic mix of solar module volumes.

Zhu said net cash used in operating activities was $209 million, mainly due to increased inventories tied to the U.S. solar and storage businesses. Canadian Solar ended the quarter with $1.9 billion in cash and $6.8 billion in total debt. Capital expenditures were $173 million in the first quarter, primarily for U.S. manufacturing, and the company expects full-year 2026 capital expenditures of about $1.3 billion.

For the second quarter, Parkin said Canadian Solar expects to recognize revenue on 3.1 gigawatts to 3.3 gigawatts of solar modules and deliver 2.8 gigawatt-hours to 3.2 gigawatt-hours of energy storage solutions. Total revenue is expected to range from $1.0 billion to $1.2 billion, with gross margin projected between 13% and 15%.

Parkin said the broader solar market remains complex, with price increases not yet fully offsetting upstream cost pressures. In storage, he said the company expects record volumes in the second half, though margins are expected to normalize and remain partly exposed to lithium carbonate price fluctuations.

Canadian Solar reiterated its U.S. full-year 2026 volume guidance of 6.5 gigawatts to 7 gigawatts of module shipments and 4.5 gigawatt-hours to 5.5 gigawatt-hours of energy storage shipments.

About Canadian Solar NASDAQ: CSIQCanadian Solar Inc NASDAQ: CSIQ is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world's largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.

In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Key Takeaways Canadian Solar posted Q1 revenues of $1.08B, topping estimates despite lower solar module sales.CSIQ battery storage shipments jumped 142% year over year, while module shipments fell 64%.Canadian Solar began trial production at its Indiana HJT solar cell factory, targeting July 2026 launch. Canadian Solar, Inc. (CSIQ - Free Report) reported first-quarter 2026 adjusted loss of 71 cents per share, narrower than the Zacks Consensus Estimate of a loss of $1.06. The company posted a loss of 69 cents per share in the year-ago quarter.

CSIQ’s RevenuesRevenues amounted to $1.08 billion, which surpassed the Zacks Consensus Estimate of $0.95 billion by 13.8%. The top line declined 9.9% from the year-ago quarter’s figure of $1.2 billion.

This year-over-year decrease was due to lower sales of solar modules.

Operational Update of CSIQSolar module shipments in the quarter totaled 2.5 gigawatts (GW), down 64% year over year.

Total battery energy storage shipments totaled 2.1 GWh, up 142% year over year.

Canadian Solar’s gross margin was 25.1% compared with 11.7% in the first quarter of 2025. The increase in gross margin was primarily due to the recognition of IEEPA tariff refund benefits.

Total operating expenses were $198 million, up from $195.3 million in the first quarter of 2025.

The company commenced trial production at the flagship HJT solar cell factory in Jeffersonville, IN, marking a key milestone in U.S. domestic manufacturing, with commercial operation targeted to begin in July 2026.

Canadian Solar’s Financial UpdateAs of March 31, 2026, Canadian Solar’s cash and cash equivalents totaled $1.44 billion, compared with $1.37 billion as of Dec. 31, 2025.

Long-term borrowings as of March 31, 2026, were $3.54 billion, down from $3.62 billion as of Dec. 31, 2025.

CSIQ’s GuidanceFor the second quarter of 2026, Canadian Solar anticipates total revenues to be in the band of $1-$1.2 billion. The Zacks Consensus Estimate for sales is pegged at $1.76 billion, higher than the company’s guided range.

Gross margin is expected to be 13-15%. Total module shipments recognized as revenues are expected to be in the range of 3.1-3.3 GW. Total battery energy storage shipments in the second quarter are expected to be in the range of 2.8-3.2 GWh, including approximately 400 MWh to internal and external projects under execution.

The company reiterated its guidance of 6.5-7 GW of solar modules and 4.5-5.5 GWh of battery energy storage solutions for the U.S. market in 2026.

CSIQ’s Zacks RankCanadian Solar currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Recent Solar ReleasesFirst Solar, Inc. (FSLR - Free Report) reported first-quarter 2026 earnings of $3.22 per share, which beat the Zacks Consensus Estimate of $2.87 by 12.1%. The bottom line increased 65.1% from the prior-year quarter’s figure of $1.95.

First Solar’s first-quarter net sales were $1.04 billion, which missed the Zacks Consensus Estimate by 0.1%. However, the top line rose 23.6% from the year-ago quarter’s $0.84 billion.

Enphase Energy, Inc. (ENPH - Free Report) reported first-quarter 2026 adjusted earnings of 47 cents per share, which decreased 30.9% from 68 cents reported in the prior-year quarter. However, the bottom line topped the Zacks Consensus Estimate of 43 cents by 8.2%.

Enphase Energy’s first-quarter revenues of $282.9 million missed the Zacks Consensus Estimate of $284 million by 0.2%. The top line decreased 28.6% from the prior-year quarter’s reported figure of $356.1 million.

SolarEdge Technologies, Inc. (SEDG - Free Report) reported a first-quarter 2026 adjusted loss of 43 cents per share, wider than the Zacks Consensus Estimate of a loss of 23 cents. The bottom line improved from the prior-year quarter’s loss of $1.14 per share.

SEDG’s revenues of $310.5 million surpassed the Zacks Consensus Estimate of $303 million by 2.3%. The top line also increased 41.5% from the year-ago quarter’s $219.5 million.

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Shares of SolarEdge Technologies (NASDAQ:SEDG | SEDG Price Prediction) are ripping higher in Friday’s midday session, with SEDG stock up 22% to $61.44. That extends Thursday’s surge into a powerful two-day run, with the one-week move now sitting at 49%.

Enphase Energy (NASDAQ:ENPH) is along for the ride, with ENPH stock up 11% to $53.25 and the one-week tally near 46%. The rooftop solar bid that ignited Thursday’s session isn’t fading. It’s compounding.

The kicker: this is happening with the 10-year Treasury yield at 4.46%, still elevated but not the kind of move that breaks residential financing math. The bid looks structural.

SolarEdge’s Margin Story Keeps Working SolarEdge’s Q1 2026 report on May 6 delivered revenue of $310.5 million, up 42% year over year (YoY) and ahead of consensus. Non-GAAP gross margin came in at 24%, marking the sixth consecutive quarter of margin expansion.

The bigger driver here is the forward guide. SolarEdge’s management called for $325 million to $355 million in Q2 2026 revenue with non-GAAP gross margin between 23% and 27%, and CEO Shuki Nir told investors SolarEdge expects to be “close to breakeven operating profitability” at the midpoint.

Nir asserted the company has “shifted decisively to offense” around the Nexis platform rollout and an AI data-center power roadmap. With short interest still heavy and SEDG stock down 72% over five years, a clean beat plus a profitability inflection is exactly the cocktail that forces covering.

Enphase Catches the Sympathy Bid Enphase isn’t reporting today, but the setup is supportive. The most recent Q4 2025 print on February 3 delivered non-GAAP EPS of $0.71 against a $0.58 estimate, with U.S. sell-through demand and IQ Batteries flagged as standouts.

ENPH stock now sports a forward P/E ratio of 17x against a market cap of $6.33 billion, with the one-month gain stretching to 65%. That’s the kind of move that could draw momentum traders into Enphase.

Utility-Scale Names Aren’t Joining the Party The divergence is the real tell. Canadian Solar (NASDAQ:CSIQ) is down 1% today to $17.58, extending its post-earnings slide after the Q1 report leaned on a $93 million one-time IEEPA tariff refund to flatter the gross margin line.

First Solar (NASDAQ:FSLR) is participating only modestly, up 2% to $235.75, with FSLR stock still down 10% year to date (YTD). Capital is rotating into residential power electronics rather than utility-scale modules.

What Could Break This Move Solar is notoriously volatile, and a two-day rip can reverse just as fast. SEDG stock now trades well above the consensus analyst target of $39.57, with the analyst board still skewed 21 Holds against just one Buy. That’s a setup where one cautious downgrade into the weekend could take the air out quickly.

Policy is the other watch item. The IRA as amended by the One Big Beautiful Bill Act of 2025, plus the looming Section 25D expiration, is pulling residential demand forward. Any headline that questions the runway, or a back-up in the 10-year past the 4.58% high from May 21, 2025, would test the thesis fast.

Keep an eye on whether SEDG stock holds above $60 into the close and whether sell-side desks push out fresh notes on Monday. Momentum traders own this tape right now, and the next analyst action will decide if the bid keeps compounding or finally takes a breather.

The U.S. solar market continues to benefit from strong demand driven by rising electricity consumption, AI-powered data center growth and corporate clean-energy goals, with the Solar Energy Industries Association projecting solar capacity to nearly triple by 2036. However, growth is being tempered by policy uncertainty following the OBBBA, tighter tax-credit timelines, supply-chain pressures and weaker residential solar economics resulting from changes such as California’s Net Billing Tariff, all of which are increasing project risks and slowing parts of the market. A few prominent companies that solar investors may want to monitor are First Solar (FSLR - Free Report) , Enphase Energy (ENPH - Free Report) and Canadian Solar (CSIQ - Free Report) .

About the Industry The Zacks Solar industry can be fundamentally categorized into two groups of companies. One is involved in designing and producing high-efficiency solar modules, panels and cells, while the other is engaged in installing grids and, in some cases, entire solar power systems. The industry also includes a handful of companies that manufacture inverters for solar power systems, which convert solar power from modules into electricity required by electric grids. Per a report from the U.S. Energy Information Administration (“EIA”), solar’s share of U.S. electricity generation will be 8% in 2026 and 9% in 2027. It remains the nation's dominant form of new generating capacity.

3 Trends Shaping the Future of the Solar Industry Strong Demand Supports Solar Market Growth: Utilities and businesses across the United States are accelerating their adoption of solar energy — particularly solar systems combined with battery storage — as they seek cleaner, more resilient and cost-effective power solutions. Rising electricity prices and growing decarbonization commitments are making solar increasingly attractive, while battery storage helps users maintain power reliability during grid disruptions and periods of peak demand. The U.S. solar market is experiencing rapid expansion due to an unprecedented increase in electricity demand from data centers. The rapid expansion of artificial intelligence and cloud computing has significantly increased electricity consumption, prompting major technology companies and hyperscalers to invest aggressively in utility-scale solar and energy-storage projects. These investments are intended not only to secure reliable grid capacity for future operations, but also to support ambitious corporate sustainability and net-zero commitments.

A report published in March 2026 by the Solar Energy Industries Association (“SEIA”) projects cumulative U.S. solar capacity to nearly triple from 279 GWdc installed at year-end 2025 to 769 GWdc by 2036, with average annual capacity additions exceeding 44 GWdc. The updated forecast represents an increase from the prior quarter’s outlook, reflecting a stronger near-term utility-scale project pipeline and continued growth in energy demand expectations.

Policy Uncertainty Slows the Momentum: Policy uncertainty at the federal level has emerged as a significant challenge for the U.S. solar sector after the enactment of the One Big Beautiful Bill Act (“OBBBA”). The law significantly reduced the eligibility window for key clean-energy tax incentives, requiring most solar and wind projects to either begin construction by July 2026 or enter service before the end of 2027 to qualify for federal tax credits. In addition, the legislation imposed more rigorous construction qualification rules along with stricter regulations tied to foreign sourcing and supply-chain compliance. These changes have heightened development, financing and execution risks across the industry. Many market participants believe the tighter deadlines could force delays, restructuring or even cancellation of projects that are still navigating permitting approvals or grid interconnection processes.

The SEIA report highlighted that the residential segment installed 4,647 MWdc of solar capacity in 2025, representing a 2% decline from 2024 levels. Although module shortages and delivery delays raised concerns late in the year, most installers secured sufficient equipment to complete projects. Demand also failed to meaningfully accelerate ahead of the Section 25D tax credit expiration, as the OBBBA provided too little time for companies to ramp up sales, customer acquisition and installations before the deadline.

Tariff Pressures Strain Solar Economics: The heightened U.S. tariffs on imported goods have been negatively impacting nearly all industries, and solar is no exception. As expected, these tariffs have increased manufacturing costs for solar companies, which were already grappling with raw material shortages due to global supply-chain challenges. State-level policy changes have added pressure to the residential solar market. For example, California’s transition to the Net Billing Tariff (“NBT”) significantly reduced the compensation homeowners receive for excess electricity exported to the grid, lowering the economic benefits of rooftop solar systems.

According to the SEIA report, the U.S. commercial solar segment grew 6% in 2025, reaching 2,345 MWdc of new installations, largely driven by the continued rollout of California projects approved under the more favorable NEM 2.0 policy. Despite the transition to the less attractive NBT system, over 70% of fourth-quarter installations were still NEM 2.0 projects. However, as the backlog gradually declines, the market is expected to slow in 2026 because projects developed under NBT generally offer lower customer savings and weaker economic returns.

Zacks Industry Rank Reflects Gloomy Outlook The Zacks Solar industry is housed within the broader Zacks Oils-Energy sector. It currently carries a Zacks Industry Rank #203, which places it in the bottom 17% of more than 245 Zacks industries.

The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bleak near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

The industry’s position in the bottom 50% of the Zacks-ranked industries is due to a negative earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts have lost confidence in this group’s earnings growth potential over the past few months. The industry’s bottom-line estimate for the current fiscal year has moved down 9.1% to $1.50 since Feb. 28.

Before we present a few solar stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.

Industry Beats Sector & S&P 500 The solar industry has outperformed both its sector and the Zacks S&P 500 composite over the past year. The stocks in this industry have collectively grown 71.4% over the past year, while the Oils-Energy sector rose 43.3%. The Zacks S&P 500 composite has surged 31% in the same time frame.

One-Year Price Performance

Industry's Current Valuation On the basis of the trailing 12-month EV/EBITDA, which is commonly used for valuing solar stocks, the industry is currently trading at 12.76X compared with the S&P 500’s 18.65X and the sector’s 7.03X.

Over the past five years, the industry has traded as high as 34.03X, as low as 4.44X and at the median of 13.12X.

EV-EBITDA Ratio (TTM)

3 Solar Stocks to Watch Canadian Solar: Based in Kitchener, Ontario, Canada, the company is one of the leading manufacturers of solar PV modules and a provider of solar energy and battery energy storage solutions. On May 14, 2026, CSIQ reported first-quarter results. Solar module shipments in the quarter totaled 2.5 GW, down 64% year over year. Total battery energy storage shipments amounted to 2.1 GWh, up 142% year over year. The company commenced trial production at the flagship HJT solar cell factory in Jeffersonville, IN, marking a milestone in U.S. domestic manufacturing, with commercial operation targeted to begin in July 2026.

The Zacks Consensus Estimate for Canadian Solar’s 2026 earnings per share (EPS) indicates an increase of 53.6% year over year. The consensus estimate for 2026 sales indicates an increase of 2.8% year over year. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 

Price & Consensus: CSIQ

Enphase Energy: Based in Fremont, CA, this company is a global energy technology company that delivers energy management technology for the solar industry. It designs, develops, manufactures and sells home energy solutions, which connect energy generation, energy storage and control and communications management on a single intelligent platform. On May 18, 2026, Enphase Energy, announced the launch of PowerMatch technology for IQ Battery 10C systems in the United States, including Puerto Rico, and for IQ Battery 5P systems across North America and select countries in Central America and the Caribbean. During the first quarter of 2026, ENPH shipped 1.39 million microinverters from Texas and South Carolina facilities.

The Zacks Consensus Estimate for Enphase Energy’s 2026 earnings has improved 2.91% over the past 60 days. The consensus estimate for 2027 EPS indicates an increase of 19.9% year over year. The stock currently carries a Zacks Rank of 3.

Price & Consensus: ENPH

First Solar: Based in Tempe, AZ, the company is a leading global provider of comprehensive PV solar energy solutions and specializes in designing, manufacturing, and selling solar electric power modules using a proprietary thin-film semiconductor technology. On April 30, 2026, FSLR reported first-quarter results. Net sales were $1.04 billion for the first quarter, a 24% increase year over year, driven primarily by an increase in the volume of modules sold to third parties. It reported contracted sales backlog of 47.9 GW as of March 31, 2026.

The Zacks Consensus Estimate for First Solar’s 2026 EPS indicates an improvement of 24.1% from the prior-year reported figure. The consensus estimate for 2027 EPS indicates an improvement of 36.2% year over year. The company currently carries a Zacks Rank of 3.

Price & Consensus: FSLR

Canadian Solar is rated Buy, driven by a booming e-STORAGE business with a record $3.5B contracted backlog. CSIQ's e-STORAGE revenue is set to accelerate, with shipment guidance raised to 4.5–5.5 GWh in FY2026 and strong growth projected through 2027. Consensus expects CSIQ to return to profitability in FY2027, with EPS reaching $0.98 and revenue growth of 25.76% YoY.

If you bought Invesco Solar ETF (NYSEARCA:TAN) on the last trading day of 2025 at about $49 and checked your account at Monday’s close, your shares were worth about $71, a gain of about 45% in roughly five months. A $10,000 position became about $14,480. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) over the same window returned about 11%. So TAN is beating the broad market by something like four-to-one year to date, and the gap widened again last week when the fund tacked on another roughly 8% in five sessions.

That is the kind of number that gets screenshotted. It is also the kind of number that needs a closer look, because the same fund five years ago traded at about $77. Over a half-decade, TAN is still down about 8%, while the S&P 500 returned roughly 80%. The 2026 run is a recovery off a bombed-out base, not a fresh leg up from all-time highs. That distinction matters for what comes next.

The Funeral That Never Quite Happened The framing that solar was "left for dead" in 2025 deserves a small correction. TAN actually finished 2025 up about 41%, climbing from about $35 in early January to about $49 by year-end. The deeper damage was 2022 through 2024, when rising rates ate into project financing economics and the threat of a Republican sweep had traders pricing in a partial unwind of the Inflation Reduction Act. A Yahoo Finance piece from October 2024 captured the mood: a potential Republican sweep could lead to the scaling back of Inflation Reduction Act funds, specifically residential and commercial green investment tax credits. By the time 2025 opened, solar was a sector that hedge funds had largely walked away from.

That setup, a hated sector with crushed multiples and a few real businesses inside the wrapper, is what produced the move. Over the past twelve months TAN has returned about 120% against SPY’s roughly 29%. The fund just put in a 20% month in May alone. Sentiment turned before the fundamentals fully did, which is usually how these things work.

What Actually Did the Work TAN tracks the MAC Global Solar Energy Index and holds roughly 40 solar energy companies, with the top 25 holdings comprising about 93% of the fund. The names doing the heavy lifting in 2026 are familiar to anyone who watched the sector get punished. First Solar, Enphase Energy, Nextpower, and Enlight Renewable Energy sit near the top of the book, and the bullish-to-somewhat-bullish coverage on First Solar in particular has been steady through the spring. A May 21 Barron’s piece by Doug Busch flagged the setup directly, with TAN carrying a 0.403 bullish ticker sentiment score in Alpha Vantage’s aggregation.

Underneath the price action there is a real demand story. The EIA’s May 2026 Short-Term Energy Outlook revised its utility-scale solar generation forecast for 2026 1.4% higher than the prior month, citing more solar generating capacity online at the beginning of the year than previously estimated. Residential electricity prices are running about 18.2 cents per kilowatthour in 2026, a roughly 5% increase from 2025, which improves the payback math on rooftop systems. Estimated net summer solar PV capacity from utility and small-scale facilities reached 216,249 megawatts as of March 2026, up from 209,304 megawatts in December 2025. Installations are accelerating into a tightening grid.

The policy backdrop also failed to deliver the disaster that was priced in. The IRA tax credits remained intact through the first half of 2026, and the residential and commercial tax credits that solar developers depend on are still flowing. That is the simplest way to explain the move. The sector was priced for the worst case, and the worst case did not arrive.

What You Are Buying At $71 Here is the honest part. A reader who saw the headline and is thinking about chasing the move is buying a fund that has already done a roughly 8% week and a 20% month, with shares down about 4% on Monday alone. The setup that produced 2026’s gains, namely deep pessimism, depressed valuations, and a policy bogeyman that never showed up, is no longer the setup in front of you. Solar in June 2026 is consensus-bullish. A Motley Fool piece from May 23 framed it neatly, arguing TAN provides higher growth potential in the renewable solar energy sector versus traditional fossil fuel ETFs. That is the kind of take that shows up after the easy money has been made, not before.

The indicators worth watching from here are concrete. First, the EIA’s monthly capacity additions, which tell you whether the installation pace is holding or rolling over. Second, the trajectory of residential electricity prices, because every penny of rate increase tightens the payback period for rooftop solar and helps Enphase’s microinverter unit economics. Third, the legislative calendar around the IRA, since any serious attempt to claw back tax credits would re-introduce the discount that 2025 priced in. Fourth, the Fed’s path on rates, because solar project finance is one of the most rate-sensitive parts of the energy capital stack, and the rate cuts feeding the 2026 rally are already partly in the price.

A fund that is up 50% in five months after five flat years is doing something real. It is also a fund where the easy disagreement has been resolved in the bulls’ favor, which means new buyers are paying for a recovery that has largely already happened. The thing to remember is that the 2026 move was about a hated sector getting re-rated, not about solar suddenly becoming a different business. The next 50% will have to come from earnings, not from sentiment, and that is a much harder ask.