Solar Modules was Canadian Solar’s largest revenue line in fiscal 2025, bringing in $3.38B of $5.60B (60%).
| Products and Services | 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 | — | — | — | — | ||||||||||||
| Modules Product | — | — | — | — | ||||||||||||
| 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 | ||||||||||||
| Solar System Kits Product | — | — | — | — | ||||||||||||
| Epc & Development Services | — | — | — | — | ||||||||||||
| Epc Services & Development Services | — | — | — | — | ||||||||||||
| Epc Services | — | — | — | — | ||||||||||||
| Epcservice Product | — | — | — | — | ||||||||||||
| Others | — | — | — | — | ||||||||||||
| Other Csi Solar Products | — | — | — | — | ||||||||||||
| China Energy Or Engineering, Procurement & Construction (Includes Electricity Sales) | — | — | — | — | ||||||||||||
| Other Global Energy Products | — | — | — | — | ||||||||||||
| 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) | — | — | — | — | ||||||||||||
| Other Product | — | — | — | — | ||||||||||||
| Power Services (Om) & Asset Management | — | — | — | — | ||||||||||||
| Electricity | $19.10M | $43.68M | $85.18M | — | ||||||||||||
| Electricity Revenue From Operating Portfolio & Others | — | — | — | — | ||||||||||||
| Electricity Income | — | — | — | — | ||||||||||||
| Om & Asset Management Services | — | — | — | — | ||||||||||||
| Others (Epc & Development Services) | — | — | — | — | ||||||||||||
| Utility-Scale Battery Storage | — | — | — | — | ||||||||||||
| Om Services | — | — | — | — | ||||||||||||
| O&M Services | — | — | — | — | ||||||||||||
| Total | $7.49B | $7.66B | $6.08B | $5.60B |
Canadian Solar brought in $5.60B from its seven revenue lines in fiscal 2025, the year ended December 31, 2025. Canadian Solar regrouped these revenue lines 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 revenue lines 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 revenue line after fiscal 2024, when it brought in $85.18M.
Manufacturing was Canadian Solar’s largest segment in fiscal 2025, bringing in $5.61B of $5.60B (100%).
| Segment | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Manufacturing | — | $7.23B | $6.46B | $5.61B | |||||||||||
| Csi Solar | $6.98B | — | — | — | |||||||||||
| Mss | — | — | — | — | |||||||||||
| Module | — | — | — | — | |||||||||||
| Module Segment | — | — | — | — | |||||||||||
| Global Energy | — | — | — | — | |||||||||||
| Recurrent Energy | $821.53M | $497.65M | $323.47M | $403.62M | |||||||||||
| Energy | — | — | — | — | |||||||||||
| Energy Development | — | — | — | — | |||||||||||
| Energy Segment | — | — | — | — | |||||||||||
| Projects | — | — | — | — | |||||||||||
| Electricity Generation | — | — | — | — | |||||||||||
| Eliminations | — | — | — | — | |||||||||||
| Elimination & Unallocated Items | -$328.53M | -$114.58M | -$790.06M | -$420.64M | |||||||||||
| Total | $7.47B | $7.61B | $5.99B | $5.60B |
Canadian Solar brought in $5.60B from its three segments in fiscal 2025, the year ended December 31, 2025. That was down 6.6% from $5.99B in fiscal 2024. Manufacturing was the largest at $5.61B (100.3%), ahead of Recurrent Energy at $403.62M (7.2%).
Compared with fiscal 2024, Recurrent Energy grew 24.8% to $403.62M, while Manufacturing fell 13.1% to $5.61B.
Canadian Solar began breaking out Manufacturing in fiscal 2023, when it brought in $7.23B. Canadian Solar stopped reporting Csi Solar as a separate segment after fiscal 2022, when it brought in $6.98B. The total is net of Elimination & Unallocated Items, which took $420.64M off revenue in fiscal 2025.
Recognized At A Point In Time was Canadian Solar’s largest revenue line in fiscal 2025, bringing in $4.05B of $5.60B (72%).
| 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 | $6.94B | $7.17B | $4.97B | $4.05B | ||||||
| Recognized Over Time | $531.57M | $446.64M | $1.03B | $1.55B | ||||||
| Total | $7.47B | $7.61B | $5.99B | $5.60B |
Canadian Solar brought in $5.60B from its two revenue lines in fiscal 2025, the year ended December 31, 2025. That was down 6.6% from $5.99B in fiscal 2024. Recognized At A Point In Time was the largest at $4.05B (72.4%), ahead of Recognized Over Time at $1.55B (27.6%).
Compared with fiscal 2024, Recognized Over Time grew 50.7% to $1.55B, while Recognized At A Point In Time fell 18.5% to $4.05B. From fiscal 2022 to 2025, combined revenue from these revenue lines fell from $7.47B to $5.60B, a compound annual decline of 9.2%. Recognized At A Point In Time's share of the total fell from 92.9% to 72.4%.
Canadian Solar (CSIQ) reports its revenue by products and services, by segment and by timing of transfer of good or service. In fiscal 2025, Solar Modules was its largest revenue line, 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 revenue line in fiscal 2025, bringing in $3.38B, or 60.4% of the $5.60B total across its seven revenue lines.
Manufacturing was Canadian Solar's largest segment in fiscal 2025, bringing in $5.61B, or 100.3% of the $5.60B total across its three segments.
Recurrent Energy grew faster than Manufacturing in fiscal 2025, up 24.8% from $323.47M to $403.62M. Manufacturing fell 13.1% to $5.61B.
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 products and services 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.