SAN FRANCISCO, July 13, 2011 /PRNewswire via COMTEX/ --
Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of solar photovoltaic panels, has extended the limited product warranty for defects in materials and workmanship for its standard product offering from five to ten years. With the new warranty extension, Suntech reaffirms its commitment to providing valuable customer support for its residential, commercial, industrial, and utility customers globally.The new extended warranty is applicable for all standard panels shipped out after April 1st, 2011.
"Solar panels are a long-term investment, and our customers want to work with a bankable partner that will stand behind its products," remarked Andrew Beebe, Suntech's Chief Commercial Officer. "Suntech's extension of the limited product warranty minimizes performance risk for our customers, and will ultimately help to drive down the levelized cost of solar electricity for consumers, reaffirming our commitment to our customers."
In addition to the limited product warranty, all of Suntech's photovoltaic standard modules come with an industry-leading 25-year power output warranty that warrants 6.7% more power than the standard industry warranty. In addition, Suntech solar panels feature 0%/5% positive power tolerance, which means that they will meet or exceed their nameplate power capacity, compared to the industry standard of -3%/+3% power tolerance. Suntech solar panels are built to withstand all weather conditions.
Banks, investors, and customers welcome the new warranty terms, as it further strengthens Suntech's commitment to product quality and to improving the value of solar installations.
Suntech Power Holdings Co., Ltd. (NYSE: STP) produces industry-leading solar products for residential, commercial, industrial, and utility applications. With regional headquarters in China, Switzerland, and the United States, and gigawatt-scale manufacturing worldwide, Suntech has delivered more than 15,000,000 photovoltaic panels to thousands of customers in more than eighty countries. Suntech's pioneering R&D creates customer-centric innovations that are driving solar to grid parity against fossil fuels. Suntech's mission is to provide everyone with reliable access to nature's cleanest and most abundant energy source.
For more information about our people and products visit: http://www.suntech-power.com
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements, and includes the ability of Suntech solar panels to meet or exceed their nameplate power capacity and the ability of the Suntech power output warranty to provide more power than the standard industry warranty. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in Suntech's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Suntech does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
SOURCE Suntech Power Holdings Co., Ltd.