ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL), a leading global manufacturer of solar photovoltaic ("PV") modules and wafers, today announced its 245 W quasi-monocrystalline Virtus I module ranked first in terms of performance ratio among all comparable modules for the month of October, as tested by PHOTON International, a leading solar power trade publication.
As part of a comprehensive and ongoing comparative study by PHOTON International's laboratory affiliate, PHOTON Laboratory GmbH, the Virtus I exhibited a 98.9% performance ratio under real-life conditions of differing levels of solar irradiation. In the same study, ReneSola's polysilicon module exhibited a 98% performance ratio, and was among the best performers in its category for the month of October.
Performance ratio represents the actual amount of solar power produced in comparison to the maximum possible power output. With more than 170 different modules from over 100 manufacturers, the PHOTON study is widely regarded as one of the largest and most accurate of its kind. The complete results are available in the December issue of the PHOTON International magazine.
"This outstanding result is a direct result of our long-standing commitment to research and development," said Mr. Xianshou Li, founder and chief executive officer of ReneSola. "Not only do our quasi-mono Virtus products surpass their monocrystaline competitors in terms of energy efficiency and manufacturing costs, they feature an average energy conversion efficiency of 18.2%, exceeding the industry average for conventional multicrystalline wafers of 16.5%. As we expand our sales and marketing efforts across the Americas, Europe, the Middle East and elsewhere, our customers can have confidence in the unique combination of value and performance delivered by our Virtus technology."
Mr. Qingke Xiang, PHOTON Laboratory's module test project manager, said, "We congratulate ReneSola on its outstanding performance. The Company's success reflects the R&D achievements of Chinese module manufacturers competing at the forefront of the solar industry."
The model numbers of the Virtus I quasi-mono and polysilicon modules as tested by PHOTON are JC245M-24/Bbv and JC245M-24/Bb, respectively.