Canadian solar is a smaller, upstream solar PV company, struggling with weak fundamentals in a highly competitive industry where capital is still a contraction environment. Upside risks include: a rapid demand rebound, minimal average sales price declines, a weakening U.S. dollar and more favorable policy and incentive programs. Downside risks include: guaging end demand for company products amidst industry demand destruction, rapin average sales price declines/high input costs dislocating business model assumptions, capital contraints hindering operational flexibility and managing currency dislocations