Product Comparison Canadian Solar ELPS vs. Yingli Panda Marketing Department Aug 7, 2012

Better Module from Canadian Solar Canadian Solar ELPS CS6P-MM Yingli Green Energy Panda 265 series Module Wattage260~265W245~265W Module EfficiencyUp to 16.5%Up to 16.2% EL ScreeningYesNo Current binningYesNo PID FreeYesNo Non-incendive Electrical Equipment YesNo Ammonia ResistantYesNo Salt Mist Resistant672 hours test96 hours test Performance Ratio (PV Syst) 78.6%76.8% Warranty Insurance 100% warranty term coverage Providing third party bankruptcy rights No Module made from 60pcs, 6inch mono cells

Higher Module Efficiency CS6P-P series modules have higher module efficiency. * Yingli has few production of Panda 265W module, because of the high cost.

Highest Quality Certified EL screening to eliminate product defects Current binning to improve system performance Potential Induced Degredation (PID) free certified by PI Berlin Salt mist resistant certified according to severity level I* by TUV NORD Ammonia resistant module validated by German Agricultural Society (DLG) Non-incendive Electrical Equipment for Use in Class I, Division 2 Hazardous Locations, validated by Intertek Salt mist test Severity 1: 【 2 h( salt water spray) + 7days ( humidity storage) 】 * 4 Total salt water spray hours: 8 hours Total humidity storage hours : 672 hours Total test time: 28 days PID Free certificateSalt mist resistant certificate Ammonia resistant certificateNon-incendive Electrical Equipment certificate

Industry Leading Warranty 97% Year11 ItemCS6P-P SeriesYGE235 Series Power output warranty25 years linear warranty 25 years staged peak power output warranty Product warranty10 years Warranty Insurance 100% warranty term coverage Providing third party bankruptcy rights No warranty insurance available Canadian Solar’s linear performance guarantee provides higher added value

Best Warranty Insurance Canadian Solar provides the best warranty insurance  25 years worldwide coverage  100% warranty term coverage  Providing third party bankruptcy rights  Non-cancellable  Immediate coverage  Insured by 3 world top insurance companies The world’s largest solar power plant chose Canadian Solar. ( Plant Capacity: 166MW, Canadian Solar provided 148MW modules location: Brandenburg, Germany; completion: Sep 2011)

Why warranty insurance is important? When a manufacture goes bankrupt, its warranty is also gone  Over 50 module companies have gone bankrupt In the past two years. Canadian Solar provides Warranty Insurance policy insured by three world top insurance companies  Reduce the investment risk and enhance customer’s access to solar investment capital and financing  The insurance policy continues even if Canadian Solar is Insolvent or Bankrupt  Allowing Third-Party policy rights (satisfies investors / bankers requirements)  Customers do not need to work through the Bankruptcy Trustees

Solvency Ratio Net Debt / Equity % Net Debt - $ million Solvency ratios reflect the financial soundness of a company. This ratio determines how well the company is able to meet its debts as well as obligations, and help the business owner to determine its chances of long term survival

4 Differentiators of Canadian Solar by Credit Suisse Company has one of the best product insurance Canadian Solar has now become a low cost leader in the industry Company has a lower net debt position than TSL/STP/YGE Company has a $1.3bb system revenue pipeline with firm PPAs, and appears to win more than 100MW in the US near term as well. Credit Suisse, June

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