One of the world's largest solar power companies,
Canadian Solar Inc.
) has launched the Canadian Solar Residential Financing Program
for residential solar installers and developers. The program will
allow residential customers to install solar panels on rooftops,
thereby helping to bring more solar projects into operation in
The program is being executed in collaboration with Boston, Mass.
based privately held Admirals Bank. Subject to credit approval,
customers can borrow up to $40,000 for a residential solar
installation. Per the program, no fees will be charged for
installation nor will there be any restriction on system
designing. This program will help residential solar installers to
reduce project complexity and streamline procurement and
The "Step Down" feature of the program will allow customers to
monetize the solar tax credits, rebates and other incentives
associated with ownership of their system. The customers
can then pay that amount into the principal balance and then
re-amortize the loan, thereby reducing their remaining monthly
Solar is becoming a viable residential option and investment in
solar products and programs reduces peak demand while adding to
the infrastructure. The growth in the photovoltaic industry
appears to be supported by increased solar panel installations.
The country is installing one solar photovoltaic system every
four minutes, and given the current market growth projections, it
could be installing one system every minute and twenty seconds by
The launch of this program is a vital step taken by Canadian
Solar in the light of the current economic scenario. This would
bring more solar projects into operation in the country while
lowering customer bills. For now, it is getting expensive for
U.S. solar companies to enter into the Chinese market. China's
Ministry of Commerce is now set to impose anti-subsidy duties of
an additional 6.5% on polysilicon imports from the U.S.
In July this year, China imposed anti-dumping duties of 53.3%
to 57% on U.S. polysilicon and claimed that the imports were
being sold below market value. Hence, the U.S. polysilicon
suppliers will now face at least 60.2% tariffs, depending on the
CANADIAN SOLAR (CSIQ): Free Stock Analysis
JA SOLAR HOLDGS (JASO): Free Stock Analysis
RENESOLA LT-ADR (SOL): Free Stock Analysis
SUNPOWER CORP-A (SPWR): Free Stock Analysis
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Given the industry-wide high inventory level, tepid module demand
in Europe and rising competition in the market, the company
presently has a short-term Zacks Rank #4 (Sell).
Among the stocks worth considering in the solar space are
JA Solar Holdings Co., Ltd.
). While ReneSola and SunPower carry a Zacks Rank #1 (Strong
Buy), JA Solar Holdings carries a Zacks Rank #2 (Buy).