{"id":77304,"date":"2023-03-24T07:30:54","date_gmt":"2023-03-24T07:30:54","guid":{"rendered":"https:\/\/theelectricityhub.com\/?p=77304"},"modified":"2023-03-24T07:31:48","modified_gmt":"2023-03-24T07:31:48","slug":"canadian-solar-expects-0-5-growth-in-2023","status":"publish","type":"post","link":"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/","title":{"rendered":"Canadian Solar Expects 0.5% Growth in 2023"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Canadian solar doubled its energy storage shipments to 1.79GWh in 2022, although it expects significantly lower growth in 2023.<\/li>\n\n\n\n<li>The signed contract already carries about US$1 billion, which is increasing rapidly every quarter.<\/li>\n<\/ul>\n\n\n\n<p>The PV module manufacturer\u2019s energy storage system integrator subsidiary CSI Energy Storage contributed around 6% of total sales, with the rest from solar module shipments. However, that ratio is likely to grow with significant growth in its battery storage business and a much larger pipeline than for solar. It increased its contracted battery storage order book to US$1 billion as of the start of 2023, while its overall battery storage development pipeline is 47GWh, compared to 25GW for solar. Based on the revenue ratio to GWh shipments, that storage pipeline could equate to over US$11 billion in long-term revenues.<\/p>\n\n\n\n<p>However, the company provides FY2023 guidance of 1.8-2GWh of battery storage shipments in 2023, meaning growth between 0.5% and 11.7%, with 5% as a mid-point. The wider battery storage market, on the other hand, is expected to roughly double deployments in 2023. Much of this is down to moving from a white labelled utility-scale energy storage product to its manufactured Solbank product,\u00a0announced in September, and the long lead times in the sector.<\/p>\n\n\n\n<p>Commenting on this, CSI Solar president Yan Zhuang said: \u201c2023 is going to be a transition year for our battery storage shipments, especially considering the longer order fulfilment lead times for battery storage compared to solar. This is why we expect flat deliveries year-over-year in 2023. However, we have very strong visibilities over our long-term growth.\u201d Canadian Solar CEO Shawn Qu added that the lower growth reflects. This year\u2019s transition from white label to our manufactured products.\u201d<\/p>\n\n\n\n<p>Zhuang later expanded: \u201cSo we need to work on certification and bankability. So that\u2019s the pipeline we have today is more towards the second half of this year, not the first half of this year. So in terms of recognition and shipments, it\u2019s very much skewed to the end of this year. And however, if you look at our signed contract, the signed contract already carries about US$1 billion, which is increasing rapidly every quarter. So we\u2019re expanding our total storage SolBank capacity towards 10GWh by [100%]. The reason behind this is that we\u2019re not going to have enough capacity next year. So next year will be the real growth. This year is a transition.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The PV module manufacturer\u2019s energy storage system integrator subsidiary CSI Energy Storage contributed around 6% of total sales, with the rest from solar module shipments. However, that ratio is likely&hellip; <\/p>\n","protected":false},"author":36,"featured_media":77312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[3601,496],"tags":[],"class_list":["post-77304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy-storage","category-international-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Canadian Solar Expects 0.5% Growth in 2023 &#8226; The Electricity Hub<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canadian Solar Expects 0.5% Growth in 2023 &#8226; The Electricity Hub\" \/>\n<meta property=\"og:description\" content=\"The PV module manufacturer\u2019s energy storage system integrator subsidiary CSI Energy Storage contributed around 6% of total sales, with the rest from solar module shipments. However, that ratio is likely&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"The Electricity Hub\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/theelectricityhub\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-24T07:30:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-24T07:31:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/theelectricityhub.com\/wp-content\/uploads\/2023\/03\/Recurrent-Energy_Crimson-Storage_Sunset_1-1024x731-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"731\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Idiongoabasi Udoh\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@NGElectricHub\" \/>\n<meta name=\"twitter:site\" content=\"@NGElectricHub\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Idiongoabasi Udoh\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/\"},\"author\":{\"name\":\"Idiongoabasi Udoh\",\"@id\":\"https:\/\/theelectricityhub.com\/#\/schema\/person\/415ce5f4626bb607a56369b33e8e9220\"},\"headline\":\"Canadian Solar Expects 0.5% Growth in 2023\",\"datePublished\":\"2023-03-24T07:30:54+00:00\",\"dateModified\":\"2023-03-24T07:31:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/\"},\"wordCount\":397,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/theelectricityhub.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/theelectricityhub.com\/wp-content\/uploads\/2023\/03\/Recurrent-Energy_Crimson-Storage_Sunset_1-1024x731-1.jpg\",\"articleSection\":[\"Energy Storage\",\"International News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/\",\"url\":\"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/\",\"name\":\"Canadian Solar Expects 0.5% Growth in 2023 &#8226; The Electricity Hub\",\"isPartOf\":{\"@id\":\"https:\/\/theelectricityhub.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/theelectricityhub.com\/wp-content\/uploads\/2023\/03\/Recurrent-Energy_Crimson-Storage_Sunset_1-1024x731-1.jpg\",\"datePublished\":\"2023-03-24T07:30:54+00:00\",\"dateModified\":\"2023-03-24T07:31:48+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/#primaryimage\",\"url\":\"https:\/\/theelectricityhub.com\/wp-content\/uploads\/2023\/03\/Recurrent-Energy_Crimson-Storage_Sunset_1-1024x731-1.jpg\",\"contentUrl\":\"https:\/\/theelectricityhub.com\/wp-content\/uploads\/2023\/03\/Recurrent-Energy_Crimson-Storage_Sunset_1-1024x731-1.jpg\",\"width\":1024,\"height\":731},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/theelectricityhub.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Canadian Solar Expects 0.5% Growth in 2023\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/theelectricityhub.com\/#website\",\"url\":\"https:\/\/theelectricityhub.com\/\",\"name\":\"The Electricity Hub\",\"description\":\"Collating and Disseminating Credible Power Industry Data and Information\",\"publisher\":{\"@id\":\"https:\/\/theelectricityhub.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/theelectricityhub.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/theelectricityhub.com\/#organization\",\"name\":\"The Electricity Hub\",\"url\":\"https:\/\/theelectricityhub.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/theelectricityhub.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/theelectricityhub.com\/wp-content\/uploads\/2020\/11\/cropped-NEH-new-logo-reduced-size.png\",\"contentUrl\":\"https:\/\/theelectricityhub.com\/wp-content\/uploads\/2020\/11\/cropped-NEH-new-logo-reduced-size.png\",\"width\":512,\"height\":512,\"caption\":\"The Electricity Hub\"},\"image\":{\"@id\":\"https:\/\/theelectricityhub.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/theelectricityhub\",\"https:\/\/x.com\/NGElectricHub\",\"https:\/\/www.instagram.com\/ngelectrichub\/\",\"https:\/\/www.linkedin.com\/company\/nigeria-electricity-hub\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/theelectricityhub.com\/#\/schema\/person\/415ce5f4626bb607a56369b33e8e9220\",\"name\":\"Idiongoabasi Udoh\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/theelectricityhub.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/941f645aea0692a3963d6c66e2e73480?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/941f645aea0692a3963d6c66e2e73480?s=96&d=mm&r=g\",\"caption\":\"Idiongoabasi Udoh\"},\"url\":\"https:\/\/theelectricityhub.com\/author\/idiongoabasiudoh\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Canadian Solar Expects 0.5% Growth in 2023 &#8226; The Electricity Hub","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/","og_locale":"en_US","og_type":"article","og_title":"Canadian Solar Expects 0.5% Growth in 2023 &#8226; The Electricity Hub","og_description":"The PV module manufacturer\u2019s energy storage system integrator subsidiary CSI Energy Storage contributed around 6% of total sales, with the rest from solar module shipments. However, that ratio is likely&hellip;","og_url":"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/","og_site_name":"The Electricity Hub","article_publisher":"https:\/\/www.facebook.com\/theelectricityhub","article_published_time":"2023-03-24T07:30:54+00:00","article_modified_time":"2023-03-24T07:31:48+00:00","og_image":[{"width":1024,"height":731,"url":"https:\/\/theelectricityhub.com\/wp-content\/uploads\/2023\/03\/Recurrent-Energy_Crimson-Storage_Sunset_1-1024x731-1.jpg","type":"image\/jpeg"}],"author":"Idiongoabasi Udoh","twitter_card":"summary_large_image","twitter_creator":"@NGElectricHub","twitter_site":"@NGElectricHub","twitter_misc":{"Written by":"Idiongoabasi Udoh","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/#article","isPartOf":{"@id":"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/"},"author":{"name":"Idiongoabasi Udoh","@id":"https:\/\/theelectricityhub.com\/#\/schema\/person\/415ce5f4626bb607a56369b33e8e9220"},"headline":"Canadian Solar Expects 0.5% Growth in 2023","datePublished":"2023-03-24T07:30:54+00:00","dateModified":"2023-03-24T07:31:48+00:00","mainEntityOfPage":{"@id":"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/"},"wordCount":397,"commentCount":0,"publisher":{"@id":"https:\/\/theelectricityhub.com\/#organization"},"image":{"@id":"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/#primaryimage"},"thumbnailUrl":"https:\/\/theelectricityhub.com\/wp-content\/uploads\/2023\/03\/Recurrent-Energy_Crimson-Storage_Sunset_1-1024x731-1.jpg","articleSection":["Energy Storage","International News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/","url":"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/","name":"Canadian Solar Expects 0.5% Growth in 2023 &#8226; The Electricity Hub","isPartOf":{"@id":"https:\/\/theelectricityhub.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/#primaryimage"},"image":{"@id":"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/#primaryimage"},"thumbnailUrl":"https:\/\/theelectricityhub.com\/wp-content\/uploads\/2023\/03\/Recurrent-Energy_Crimson-Storage_Sunset_1-1024x731-1.jpg","datePublished":"2023-03-24T07:30:54+00:00","dateModified":"2023-03-24T07:31:48+00:00","breadcrumb":{"@id":"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/#primaryimage","url":"https:\/\/theelectricityhub.com\/wp-content\/uploads\/2023\/03\/Recurrent-Energy_Crimson-Storage_Sunset_1-1024x731-1.jpg","contentUrl":"https:\/\/theelectricityhub.com\/wp-content\/uploads\/2023\/03\/Recurrent-Energy_Crimson-Storage_Sunset_1-1024x731-1.jpg","width":1024,"height":731},{"@type":"BreadcrumbList","@id":"https:\/\/theelectricityhub.com\/canadian-solar-expects-0-5-growth-in-2023\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/theelectricityhub.com\/"},{"@type":"ListItem","position":2,"name":"Canadian Solar Expects 0.5% Growth in 2023"}]},{"@type":"WebSite","@id":"https:\/\/theelectricityhub.com\/#website","url":"https:\/\/theelectricityhub.com\/","name":"The Electricity Hub","description":"Collating and Disseminating Credible Power Industry Data and Information","publisher":{"@id":"https:\/\/theelectricityhub.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/theelectricityhub.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/theelectricityhub.com\/#organization","name":"The Electricity Hub","url":"https:\/\/theelectricityhub.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/theelectricityhub.com\/#\/schema\/logo\/image\/","url":"https:\/\/theelectricityhub.com\/wp-content\/uploads\/2020\/11\/cropped-NEH-new-logo-reduced-size.png","contentUrl":"https:\/\/theelectricityhub.com\/wp-content\/uploads\/2020\/11\/cropped-NEH-new-logo-reduced-size.png","width":512,"height":512,"caption":"The Electricity Hub"},"image":{"@id":"https:\/\/theelectricityhub.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/theelectricityhub","https:\/\/x.com\/NGElectricHub","https:\/\/www.instagram.com\/ngelectrichub\/","https:\/\/www.linkedin.com\/company\/nigeria-electricity-hub\/"]},{"@type":"Person","@id":"https:\/\/theelectricityhub.com\/#\/schema\/person\/415ce5f4626bb607a56369b33e8e9220","name":"Idiongoabasi Udoh","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/theelectricityhub.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/941f645aea0692a3963d6c66e2e73480?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/941f645aea0692a3963d6c66e2e73480?s=96&d=mm&r=g","caption":"Idiongoabasi Udoh"},"url":"https:\/\/theelectricityhub.com\/author\/idiongoabasiudoh\/"}]}},"_links":{"self":[{"href":"https:\/\/theelectricityhub.com\/wp-json\/wp\/v2\/posts\/77304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theelectricityhub.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theelectricityhub.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theelectricityhub.com\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/theelectricityhub.com\/wp-json\/wp\/v2\/comments?post=77304"}],"version-history":[{"count":4,"href":"https:\/\/theelectricityhub.com\/wp-json\/wp\/v2\/posts\/77304\/revisions"}],"predecessor-version":[{"id":77316,"href":"https:\/\/theelectricityhub.com\/wp-json\/wp\/v2\/posts\/77304\/revisions\/77316"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theelectricityhub.com\/wp-json\/wp\/v2\/media\/77312"}],"wp:attachment":[{"href":"https:\/\/theelectricityhub.com\/wp-json\/wp\/v2\/media?parent=77304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theelectricityhub.com\/wp-json\/wp\/v2\/categories?post=77304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theelectricityhub.com\/wp-json\/wp\/v2\/tags?post=77304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}