Canadian Solar has seen a “surge in demand for battery storage capacity,” CEO Dr Shawn Qu said, as the vertically-integrated solar PV company reported its latest quarterly financial results.
Recurrent Energy, the project development subsidiary of vertically-integrated solar PV company Canadian Solar, has claimed that it has 2.3GWh of battery storage projects in “late-stage development”.
Vertically-integrated solar PV company Canadian Solar won nearly 1GWh of battery storage contracts in 2020 and CEO Shawn Qu has said it expects to “capture around 10% of the battery storage market in the US alone” during this year.
As demand for lithium-ion batteries from the solar energy industry grows, high standards of manufacturing processes are as important as cell design and materials, representatives of PI Berlin have said.
Canadian Solar has highlighted the increasing importance of adding energy storage to PV projects and the “significant growth opportunities in the solar-plus-storage market” while reporting its latest quarterly financial results.
