This year, demand within the solar industry skyrocketed higher than anyone predicted, stabilizing solar panel prices and causing the shares for Canadian Solar Inc. (NASDAQ:CSIQ) to jump 48%. Many were expecting the company to lose money this year, and when that didn’t happen, people have started wondering what next year will look like for the company.
Canadian Solar has many plans for 2018, including a further expansion of production in solar panels and their parts. Module production is expected to rise to 10.3 GW by the end of 2018, and cell production is aimed to reach almost 7.0 GW.
This much of a production expansion would be enough to make Canadian Solar the biggest solar manufacturer in the world, selling about one in every ten solar panels.
Along with that, the company is looking to improve solar cell and panel efficiency. There will be more mono-PERC solar cell construction (the company is aiming for a full mono-PERC production by the end of 2017), which will create more efficient solar panels with a higher performance in harsh environments. The more efficient design of the mono-PERC upgrade should boost sale price per watt, which could help to improve the company’s profitability.
Canadian Solar is also increasing its project development business. It’s becoming more active in countries like Japan, the US, and Mexico. This could be a risky move for the company, and it is something to watch for in the future.
Featured Image: twitter
