Canadian Solar Financial and Operational Summary Q1 2022
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Significant growth visibility and healthier market dynamics
Strong growth outlook on a much larger market base:
annual PV installations up 7x over the past decade
Europe
China
India
Japan
Global Solar PV Annual Installations,
I North America & Caribbean
Central & South America
Other
GW
+14% CAGR
320
312
295
276
232
165
145
118
106
101
75
56
45
2013
2014
2015
2016
2017
2018
2019
2020
2021E
2022E
2023E
2024E
2025E
2026E
Source: BNEF, IHS (2021E PV installations adjusted to CSIQ guesstimate).
Lower risk and higher return outlook
in the solar industry
LOWER RISK:
•
•
•
Independence from subsidies: grid parity driving
lower market uncertainty from subsidy policy
overhang; lower demand/supply mismatch volatility
from subsidy deadlines;
Greater market stability: faster demand and supply
adjustments to market signals
Lower market concentration: the number of 1 GW+
markets to grow from 6 in 2016 to 16 in 2021
Larger market scale: Much larger and stabler global
base of demand
HIGHER RETURNS:
Accelerating demand for solar energy consumption
and for solar energy assets
Solar module prices approaching the bottom of the
cost curve
CanadianSolar
MAKE THE DIFFERENCE
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