January 14, 2011 - PRNewswire via COMTEX -- ReneSola Ltd. (NYSE: SOL), global manufacturer of solar wafers and provider of solar modules, developed a new multicrystalline wafer, the Virtus Wafer, which improves solar cell efficiency to 17.5%.
The Virtus Wafer, which has been endorsed by several leading global solar cell manufacturers, achieves an average cell conversion efficiency rate of 17.5%, more than 1% higher than the industry-standard cell conversion efficiency rate for cells using multicrystalline wafers. ReneSola intends to commence pilot production of the Virtus Wafer in the first half of 2011.
Xianshou Li, ReneSola's CEO, commented, "The Virtus Wafer is able to produce a conversion efficiency rate close to that of a monocrystalline wafer while maintaining the relatively low production cost of a multicrystalline wafer. We will continue to engage in R&D initiatives to stay at the forefront of solar technology and deliver high-quality, cost-effective solar wafers to leading energy companies across the globe."
ReneSola is a global manufacturer of solar wafers and producer of solar power products based in China. ReneSola's shares are traded on the New York Stock Exchange (NYSE: SOL).