Solar Modules was Canadian Solar’s largest segment in fiscal 2025, bringing in $3.38B of $5.60B (60%).
| Segment | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Solar Modules | $5.53B | $5.94B | $4.28B | $3.38B | ||||||||||||
| Solar Modules & Other Solar Power Products | — | — | — | — | ||||||||||||
| Solar Power Products | — | — | — | — | ||||||||||||
| Net Revenues | — | — | — | — | ||||||||||||
| Solar & Battery Storage Power Projects | — | — | — | — | ||||||||||||
| Solar Power Projects | — | — | — | — | ||||||||||||
| Battery Storage Solutions | $440.72M | $245.17M | $814.60M | $1.37B | ||||||||||||
| Solar Power & Battery Energy Storage Asset Sales | $761.68M | $399.10M | $156.69M | $175.99M | ||||||||||||
| China Energy (Includes Electricity Sales) | — | — | — | — | ||||||||||||
| Epc & Others | $133.83M | $250.11M | $181.42M | $227.86M | ||||||||||||
| Solar System Kits | $538.16M | $679.35M | $398.17M | $224.62M | ||||||||||||
| Others | — | — | — | — | ||||||||||||
| Epc & Development Services | — | — | — | — | ||||||||||||
| Epc Services & Development Services | — | — | — | — | ||||||||||||
| Epc Services | — | — | — | — | ||||||||||||
| China Energy Or Engineering, Procurement & Construction (Includes Electricity Sales) | — | — | — | — | ||||||||||||
| Revenue From Electricity, Battery Energy Storage Operations & Others | $31.95M | $57.92M | $91.37M | $142.86M | ||||||||||||
| Others ( Materials) | — | — | — | — | ||||||||||||
| Power Services | $27.90M | $40.64M | $69.97M | $75.49M | ||||||||||||
| Others (Includes Electricity Sales) | — | — | — | — | ||||||||||||
| Power Services (Om) & Asset Management | — | — | — | — | ||||||||||||
| Electricity | $19.10M | $43.68M | $85.18M | — | ||||||||||||
| Electricity Revenue From Operating Portfolio & Others | — | — | — | — | ||||||||||||
| Om & Asset Management Services | — | — | — | — | ||||||||||||
| Others (Epc & Development Services) | — | — | — | — | ||||||||||||
| Utility-Scale Battery Storage | — | — | — | — | ||||||||||||
| Om Services | — | — | — | — | ||||||||||||
| O&Amp;M Services | — | — | — | — | ||||||||||||
| Total | $7.49B | $7.66B | $6.08B | $5.60B |
Canadian Solar brought in $5.60B from its seven segments in fiscal 2025, the year ended December 31, 2025. Canadian Solar regrouped these segments after fiscal 2024, so the total does not compare directly with that year's $6.08B. Solar Modules was the largest at $3.38B (60.4%), ahead of Battery Storage Solutions at $1.37B (24.5%) and Epc & Others at $227.86M (4.1%). The other four segments brought in $618.96M combined.
Compared with fiscal 2024, Battery Storage Solutions grew fastest, up 68.3% to $1.37B, while Solar System Kits fell the most, down 43.6% to $224.62M.
Canadian Solar stopped reporting Electricity as a separate segment after fiscal 2024, when it brought in $85.18M.
Manufacturing was Canadian Solar’s largest segment in fiscal 2025, bringing in $3.38B of $3.55B (95%).
| Statement Business Segments | FY 2011 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Manufacturing | — | $6.29B | $5.15B | $3.38B | |||||||
| Csi Solar | $6.01B | — | — | — | |||||||
| Mss | — | — | — | — | |||||||
| Module | — | — | — | — | |||||||
| Net Revenues | — | — | — | — | |||||||
| Global Energy | — | — | — | — | |||||||
| Recurrent Energy | $795.65M | $595.48M | $317.97M | $175.99M | |||||||
| Energy | — | — | — | — | |||||||
| Total | $6.80B | $6.89B | $5.46B | $3.55B |
Canadian Solar brought in $3.55B from its two segments in fiscal 2025, the year ended December 31, 2025. That is less than the $5.60B it reports by segment, so these segments do not cover all of its revenue. Manufacturing was the largest at $3.38B (95.0%), ahead of Recurrent Energy at $175.99M (5.0%).
Compared with fiscal 2024, Manufacturing fell 34.4% to $3.38B and Recurrent Energy fell 44.7% to $175.99M.
Canadian Solar began breaking out Manufacturing in fiscal 2023, when it brought in $6.29B. Canadian Solar stopped reporting Csi Solar as a separate segment after fiscal 2022, when it brought in $6.01B.
Recognized At A Point In Time was Canadian Solar’s largest revenue line in fiscal 2025, bringing in $3.87B of $5.20B (74%).
| Timing of Transfer of Good or Service | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Recognized At A Point In Time | $6.17B | $6.77B | $4.81B | $3.87B | ||||||
| Recognized Over Time | $473.75M | $348.82M | $864.59M | $1.33B | ||||||
| Total | $6.65B | $7.12B | $5.68B | $5.20B |
Canadian Solar brought in $5.20B from its two revenue lines in fiscal 2025, the year ended December 31, 2025. That is less than the $5.60B it reports by segment, so these revenue lines do not cover all of its revenue. Recognized At A Point In Time was the largest at $3.87B (74.5%), ahead of Recognized Over Time at $1.33B (25.5%).
Compared with fiscal 2024, Recognized Over Time grew 53.6% to $1.33B, while Recognized At A Point In Time fell 19.5% to $3.87B.
Canadian Solar (CSIQ) reports its revenue by segment, by statement business segments and by timing of transfer of good or service. In fiscal 2025, Solar Modules was its largest segment, bringing in $3.38B (60.4% of the total), followed by Battery Storage Solutions at $1.37B (24.5%).
Solar Modules was Canadian Solar's largest segment in fiscal 2025, bringing in $3.38B, or 60.4% of the $5.60B total across its seven segments.
Recognized At A Point In Time was Canadian Solar's largest revenue line in fiscal 2025, bringing in $3.87B, or 74.5% of the $5.20B total across its two revenue lines.
Recognized Over Time grew faster than Recognized At A Point In Time in fiscal 2025, up 53.6% from $864.59M to $1.33B. Recognized At A Point In Time fell 19.5% to $3.87B.
Every figure comes from Canadian Solar's annual financial filings, as reported. Each line keeps the name Canadian Solar gives it, and years follow its fiscal calendar.
Canadian Solar's revenue by segment goes back to fiscal 2010, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.