ReneSola's High-Performance Virtus® PV Modules and Wafers Set New, Higher Standards for High Efficiency Solar Power Generation
This next generation of cells will enhance power performance and accelerate the return on investment for new utility, commercial, and residential solar projects.
San Francisco – July 10, 2012 – ReneSola Ltd., a leading global manufacturer of high efficiency polysilicon solar wafers and photovoltaic (PV) modules based in Jiashan, China, introduces its next-generation Virtus® V-grade wafers and PV modules here today during Intersolar North America 2012 at booth #7523. Virtus® modules and wafers are now available in both North and South America.
ReneSola's Virtus® modules convert photons to electrons at cell efficiencies greater than 18 percent, surpassing conventional 16.5 percent cell efficiencies for multicrystalline PV modules. This next generation of cells will enhance power performance and accelerate the return on investment for new utility, commercial, and residential solar projects. This leading edge technology has raised the standard for cost- and energy-effective solar power generation and is commercially available in Europe as well as the Americas.
"The solar power industry is fiercely competitive. Every improvement to cost-per-watt is critically important," said Kevin Chen, president, ReneSola Americas. "ReneSola's advanced Virtus® wafer technology enables PV modules to deliver conversion efficiencies at rates similar to monocrystalline modules, but at a much better value with a price-per-watt very close to standard multicrystalline modules. Virtus® modules address an unmet, but highly desired market need, allowing ReneSola to effectively meet accelerating North American demand."
"ReneSola is committed to investing aggressively to improve module performance with its Virtus® wafers," said Xianshou Li, ReneSola's Chief Executive Officer. "We are rapidly expanding our manufacturing capacity and streamlining production costs, which further maximizes the competitive cost advantage of Virtus® modules downstream. Half of the two gigawatts total wafer capacity that we'll deliver by the end of 2012 will come from our Virtus® line."
ReneSola's Virtus® technology has combined the high quality of monocrystalline silicon with the low cost of multicrystalline silicon PV technology. Together, they enable the production of high-efficiency monocrystalline wafers through a more cost-effective casting process with less waste, similar to the process used to grow multicrystalline silicon ingots. The traditional pulling process of CZ monocrystalline silicon crystal creates round-cornered silicon ingots. ReneSola's quasi-mono technology produces square ingots, maximizing the effective light-to-electricity conversion area in solar modules, boosting overall energy output. Light-induced degradation of ReneSola's Virtus® cells is 66 percent lower than that of conventional monocrystalline cells, increasing the overall actual power output of solar modules.
ReneSola launched its first generation of Virtus® wafers last year to compete with conventional multicrystalline silicon wafers. This enabled the production of solar cell efficiencies greater than 17.5 percent on average, in modules 255W and up. With the unveiling of its new V-grade wafers at Intersolar North America 2012, ReneSola's solar cells have achieved average cell conversion efficiencies of 18.2 percent. ReneSola's new V-grade wafer technology is now used in high-efficiency PV modules 255W and up, offering modules better suited for utility, commercial, and residential installations.
For more information about Virtus® V-grade wafers and PV modules, please visit ReneSola at Intersolar North America, booth #7523.
About ReneSola Ltd.
ReneSola is a leading global manufacturer of solar wafers and producer of solar power products based in China. Capitalizing on proprietary technologies, economies of scale, high production quality, and technological innovations and know-how, ReneSola leverages its in-house virgin polysilicon and solar cell and module production capabilities to provide its customers with high-quality, cost-competitive solar wafer products and processing services. The Company possesses a global network of suppliers and customers which includes some of the leading global manufacturers of solar cells and modules. ReneSola's ADSs are traded on The New York Stock Exchange (NYSE: SOL). For more information about ReneSola, please visit www.ReneSola.com.