Canadian Solar Is Betting On Bifacial Modules In U.S. Market

By Frank Andorka, Senior Correspondent

In light of other solar industry news on the policy side, it’s easy to forget the hardware portion of the industry is still chugging along despite the obstacles put in front of them like tariffs and other chicanery by policymakers beholden to the fossil fuel interests. But innovations are still going on in the module market, including bifacial modules.

Bifacial (literally: two faces) solar modules can generate energy not only from the front side, but from the back side as well. The sunlight on the ground is reflected to the glass-covered back side of the module, producing extra solar energy in a solar system, significantly reducing the solar system’s levelized cost of electricity (LCOE), hence higher return on investment (ROI). Depending on the albedo (reflectivity) of the ground and other site conditions, daily energy yield for projects with bifacial modules can be 5-20% higher than with conventional polymer backsheet modules. This improved yield can dramatically enhance the economics of solar system deployments.

Now one company is betting that these modules will become a major portion of the U.S. market – and they’re intent on proving it by supplying a major Northwest project with their own spin on the new technology.

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Canadian Solar, one of the world’s largest solar power companies, announced that the company has delivered 10 MW of Canadian Solar bifacial PV modules – BiKu CS3U-PB-AG – to Neighborhood Power for four solar power projects near Portland, Oregon. This represents the first significant delivery of bifacial solar PV modules into the United States.

Neighborhood Power chose Canadian Solar bifacial modules because the additional energy gain is significant enough to compensate for the new tariffs on solar modules and steel mounting equipment, and the extra power gain made their solar projects economical again.

“When the solar industry was hit with tariffs on solar modules and steel, it seemed that rising landed costs had priced these projects out of the market,” said Stephen Gates, President, Neighborhood Power Corporation. “But with the additional power generated by Canadian Solar’s bifacial modules, delivered in the quantities and in the timeframe we needed, we were able to make the project economics work and bring these projects online by the end of 2018 as planned.”

Canadian Solar BiKu bifacial modules are warranted for 30 years, 5 years longer than the industry standard, and have a lower degradation rate, which results in 20% additional yield over the lifetime of the solar module. When added to the additional daily bifacial yield of 5-20%, Canadian Solar BiKu bifacial modules deliver up to 44% additional lifetime value compared to conventional modules.

Canadian Solar Gets Offer For Privatization From Lions Point

By Frank Andorka, Senior Correspondent

pv magazine reports that Canadian Solar might be ready to go private, thanks to a $250 million bid from venture capital firm Lions Point.

If that latter name sounds familiar, it’s because it should be: SolarWakeup brought you the news earlier this year that Lions Point found itself embroiled in the Suniva bankruptcy, as fellow Suniva creditor SQN Financial accused it of trying to sell off parts of Suniva to eliminate the competition. What competition, you ask?

Right. They were arguing that though Suniva had not produced a module in more than a year, Canadian Solar was so worried about them as a competitor that they were trying to completely sabotage the remaining equipment at the plant, thereby keeping SQN from getting its investment in the now-bankrupt solar module manufacturer back.

So now the next plot point has unfolded: Lions Point is trying to take Canadian Solar private to … I don’t know what the SQN Financial lawyers will argue, but you an rest assured they are hovered over their desks right now getting ready for the next filing in the bankruptcy case.

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Still, the offer was made. pv magazine has the details:

In a 13D filing to the U.S. Securities and Exchange Commission (SEC) this week, New York-based Lion Point Capital — which holds roughly 12.3% of the Chinese-Canadian manufacturer’s shares — said it is willing to offer as much as $250 million to back the privatization bid. Shares of Canadian Solar jumped by more than 11% on Wednesday on the NASDAQ stock exchange in response to the news.

Unclear is exactly how serious the discussion is about going private or what it would mean for those companies currently installing Canadian Solar modules (probably not much for the latter). It will be interesting to see how serious Lions Point is and whether the rumored privatization actually goes through. Stay tuned.

More:

Lion Point Capital offers $250m to support Canadian Solar’s go-private bid

Creditors Spar In Court Over Suniva Solar Cell Production Assets (Full Complaint Attached)