Canadian Solar to Supply 100 MW Battery Energy Storage in Arizona

Canadian Solar Inc.’s CSIQ e-STORAGE subsidiary has recently inked a Battery Supply Agreement and Long-Term Service Agreement with Strata Clean Energy's White Tank Energy Storage LLC to provide a 100-megawatt (MW)/576 megawatt-hour direct-current Battery Energy Storage System in Arizona. The construction of the facility is planned to commence in October 2026.Per the terms of the deal, e-STORAGE will supply roughly 120 SolBank 3.0 battery enclosures for the White Tank Battery project, which aims to deliver stored renewable energy to Arizona Public Service.Canadian Solar’s Growth Prospects in the United StatesAs the world moves toward a greener future, the battery storage sector is expanding dramatically to provide enhanced grid stability, not only in Arizona but also throughout the United States. To this end, the U.S. Energy Information Administration predicts 18.2 gigawatts (GW) of utility-scale battery storage to be added to the U.S. grid in 2025 (as published in its February 2025 report). This reflects a solid 76.7% surge from the 10.3 GW of battery storage capacity added in 2024.Such bright projections undoubtedly pave the way for battery storage solution providers like Canadian Solar to capitalize on the expanding energy storage demand in the United States. The latest agreement comes in line with CSIQ’s strategy of enhancing its footprint significantly in the U.S. battery storage market.With this similar aim in view, on March 6, 2025, the company announced that it would supply 1.8 gigawatt-hours DC of Energy Storage Systems for Aypa Power in the United States. In December 2024, the company announced that it would provide 315 MWh DC of Battery Energy Storage System and up to 2 gigawatt-peak of solar modules to Sunraycer Projects in Texas.CSIQ Peers’ ProspectsOther prominent solar players, which are expanding their footprint to reap the benefits of the growing U.S. battery storage market, are mentioned below.Enphase Energy ENPH: The company’s latest generation of battery solution, IQ Battery 5P, comes with 7.68 kilowatt (kW) of peak power and 3.84 kW of continuous power. In February 2025, the company unveiled an expanded IQ Battery 5P product with support for both single-phase 120/208 V and split-phase 120/240 V for new home projects in California.The Zacks Consensus Estimate for ENPH’s 2025 sales implies an improvement of 15.6% from the 2024 reported figure. The Zacks Consensus Estimate for 2025 earnings per share indicates a year-over-year improvement of 40.9%.SolarEdge Technologies Inc. SEDG: In December 2024, the company started shipping its new Home Battery 'USA Edition. It is the next-generation energy optimization system, which maximizes energy savings by intelligently managing solar export during peak rate periods.SEDG has a long-term (three to five years) earnings growth rate of 26.1%. The Zacks Consensus Estimate for 2025 sales implies an improvement of 12% from the 2024 reported figure.Emeren Group Ltd SOL: The company develops stand-alone storage projects in the United States. As of Dec. 31, 2024, its energy storage project pipeline in the United States was 2,162 MW.The Zacks Consensus Estimate for SOL’s 2026 sales implies a year-over-year improvement of 45.4%. The Zacks Consensus Estimate for the company’s 2025 earnings per share is pegged at 4 cents, which indicates a year-over-year surge of 116.7%.Canadian Solar’s Stock Price MovementIn the past month, the company’s shares have declined 6.7% compared with the industry’s fall of 11.2%. Image Source: Zacks Investment Research CSIQ’s Zacks RankCanadian Solar currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Emeren Group Ltd. Sponsored ADR (SOL): Free Stock Analysis Report Canadian Solar Inc. (CSIQ): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks