Solar panel maker Suntech Power Holdings Co. Ltd. (STP) said it is extending the limited product warranty for its standard product offering from five to ten years. The company said this extended warranty for products is applicable for all standard panels shipped out after April 1, 2011.
This extended warranty scheme demonstrates Suntech’s commitment to providing valuable customer support for its residential, commercial, industrial, and utility customers globally. These new warranty terms further strengthens Suntech's commitment to product quality and to make to solar installations more popular.
This extension of warranty minimizes performance risk for Suntech’s customers and will also help in driving down the levelized cost of solar electricity for consumers.
All of Suntech's photovoltaic standard modules come with an industry-leading 25-year power output warranty that assures 6.7% more power than the standard prevalent in the industry. Suntech solar panels also feature 0%-5% positive power tolerance, which means that they will meet or exceed their defined power capacity, compared to the industry standard of -3% to +3% power tolerance. Suntech solar panels are built to withstand all weather conditions.
Based in Wuxi, China, Suntech Power is a solar energy company that designs, develops, manufactures and markets a variety of photovoltaic (PV) cells and modules, including a broad range of value-added building-integrated photovoltaics products. The company also provides photovoltaic system integration services in China and the U.S., and is entering into the development of utility scale solar power systems. Suntech sells its products worldwide. One of its main competitors is First Solar Inc. (FSLR).
Suntech presently retains a short-term Zacks #3 Rank (Hold). We have a long-term Outperform recommendation on the stock.
FIRST SOLAR INC (FSLR): Free Stock Analysis Report
Be the first to comment