ReneSola has raised its guidance for the revenue of the first quarter of 2018.
The solar company expects revenue in the range of $40-$45 million in Q1 2018 against the previous guidance of $30-$35 million.
The company will announce Q1 2018 results on Wednesday, June 20, 2018.
ReneSola CEO Xianshou Li said: “Our existing projects will continue to receive the subsidies to which they are entitled. Our future projects will benefit from a likely significant decline in prices for equipment and construction in the second half of 2018.”
Furthermore, commercial/industrial electricity prices are higher in the eastern provinces in which our DG projects are mainly deployed.
“We believe the lower equipment cost and stable electrical rates will enable us to find unsubsidized net-metered and self-consumption projects at grid parity with reasonable rates of return,” Xianshou Li said.
“Net metering and self-consumption projects could experience tremendous growth in the second half of 2018. Distributed generation in China will continue to be an important growth driver for us over the long-term,” Xianshou Li said.