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Chinese photovoltaic (PV) manufacturer ReneSola Ltd. (SOL - Analyst Report) has received certification for its microinverter, Micro Replus, in the U.S, Canada, Australia, New Zealand, Germany, Denmark and the U.K. in the first half of 2013.
The company’s Micro Replus microinverter converts DC electricity from a solar panel to AC electricity. It has received several certifications in the first half of 2013 which would help the company to sell the certified microinverters in key international markets like Europe, Australia and the U.S.
ReneSola’s Micro Replus integrates features like 208 and 240 AC voltage options and maximum power point tracking (MPPT) and possesses monitoring software, communications gateway hardware, and cables outfitted with MC4 compatible connectors. These would prove economical for customers as extra hidden expenses like cables and connectors would be eliminated.
With an efficiency level of more than 99.5%, Micro Replus has a 25-year linear warranty to back up the performance promise, at a price nearly 20% lower than the current market price.
This microinverter received ETL certification from Intertek to enter the U.S. and Canadian markets freely. Intertek is a leader in quality assurance and product safety certification. It has also obtained a Certificate of Approval from SAA Approvals, a third-party certification body accredited to issue Certificates of Approval for electrical equipment that complies with the safety requirements of the applicable Australian and New Zealand standard.
Again, Micro Replus won Attestations of Conformity from a leading government-designated certification body related to product testing and the certification of electronic products − TUV SUD − for being marketed in Germany and other countries including Denmark.
Apart from these recent certifications, the company expects Micro Replus to receive certifications, including grid standard certification, for 11 added European countries by August. In the third quarter of 2013, ReneSola expects to sell more than 50,000 Micro Replus microinverters in the international markets.
With the increasing need to develop renewable energy in response to stringent environmental regulations, countries worldwide are relying on solar energy for generating electricity. Besides ReneSola, companies like JA Solar Holdings Co., Ltd. , Trina Solar Limited (TSL - Snapshot Report) and LDK Solar Co. Ltd. (LDK - Snapshot Report) are making the most of the favorable market dynamics.
ReneSola is a leading global manufacturer of high-efficiency solar PV modules and wafers. ReneSola expects to continue to reduce its solar module manufacturing costs through improvements in its manufacturing methods and reduction in material costs. However, the undesirable impact of countervailing duties of 15.24% and anti-dumping duties of 25.96% levied by the U.S. will pose a headwind to ReneSola’s export business.
ReneSola carries a Zacks Rank #4 (Sell).