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.