ReneSola Analysis

ReneSola is a leading Chinese photovoltaic company. It was founded in 2005 as a manufacturer of solar silicon wafers. ReneSola specializes in the R&D and the manufacturing of polysilicon, silicon wafers and solar modules and are one of the few large solar businesses with vertically integrated operations from virgin polysilicon to photovoltaic systems in the global photovoltaic industry (ReneSola Company Website). The most remarkable thing about ReneSola is that is the first fully vertically integrated OEM service provider, and also the first manufacturer of solar power technological products in China. Founded by an inspired entrepreneur Xianshou Li, with a starting capital of 1.5 million (in US dollars). The company was initially called Zhejiang Yuhuan Solar Energy Source CO, however, in April 2006 it changed to ReneSola. By 2009 ReneSola was the third largest solar manufacturer in the world. The company has managed to expand its operational capabilities and diversity its valuable customer base through subsidiaries and strategic partnerships.

Mission Statement

With the mission of improving the cost competitiveness and increasing the energy efficiency of the solar industry, ReneSola is committed and focused on our R&D. Backed by our solid and strong financial condition, our R&D team is leveraging on their strong technical expertise and the innovative capabilities to drive the development of the photovoltaic industry towards greater cost-effectiveness and higher energy efficiency.

Competitors in this industry

1. GreenBrilliance
2. Blue Square Energy
3. Suniva
4. Advent Solar
5. Innovalight
6. SunPower
7. Miasole
8. DayStar Technologies
9. ASE Americas, Inc
10. Kyocera Solar

Internal and external analysis (SWOT analysis)

Strengths

ReneSola is a leading Chinese manufacturer in the solar industry; well at least in terms of scale and cost of production.