ReneSola and Positive Energy Solar Announce Solar Grants

SANTA FE, N.M., May 17, 2013 /PRNewswire/ -- ReneSola Ltd ("ReneSola") (NYSE: SOL), a leading brand and technology provider of solar photovoltaic ("PV") products, and Positive Energy, Inc. ("Positive Energy Solar"), New Mexico's leading residential and commercial solar installer, have announced three 2.5-kilowatt solar grants for non-profit organizations in Las Cruces, Santa Fe, and Albuquerque, New Mexico.

(Logo: http://photos.prnewswire.com/prnh/20080506/CNTU030 )

"Positive Energy Solar is committed to clean, affordable solar electricity in our communities," said Regina Wheeler, chief executive officer of Positive Energy Solar. "Through these grants, non-profits that might not otherwise be able to, can reduce long-term energy costs and use clean, renewable energy that is aligned with their values."

"ReneSola is humbled to have been asked by Positive Energy Solar to support a program that is providing solar for not only the most creative and deserving non-profits, but also for the community as a whole," said Brian Armentrout, director of marketing at ReneSola. "We'll use social media throughout the campaign, allowing people to help us decide where the systems will be best utilized. Both Positive Energy Solar and ReneSola understand the importance of providing such donations and capitalizing on this effort to educate the public about the tremendous financial and environmental benefits associated with solar electricity."

ReneSola's chief executive officer, Xianshou Li, added, "It is a pleasure to work with Positive Energy Solar to help non-profits utilize clean, renewable energy. We look forward to taking this step with them in advocating a broader use of solar power."

The first step in the process is for applicants to create a video about how having solar power would benefit their organization. The videos will be posted on the solar grants Facebook page and the organizations whose videos get the most likes will make it to the next stage of evaluation. For complete grant criteria and step-by-step application instructions, please visit http://www.positiveenergysolar.com/pv-grant/.

About ReneSola

Founded in 2005, ReneSola (NYSE:SOL) is a leading brand and technology provider of solar PV products. Leveraging its proprietary technologies, economies of scale, and technical expertise, ReneSola uses in-house virgin polysilicon and a vertically integrated business model to provide customers with high-quality, cost-competitive products. ReneSola solar modules have scored top PVUSA Test Conditions (PTC) ratings with high annual kilowatt-hour output, according to the California Energy Commission (CEC). ReneSola solar PV modules can be found in projects ranging in size from a few kilowatts to multi-megawatts in markets around the world, including the United States, Germany, Italy, Belgium, China, Greece, Spain, and Australia. For more information, please visit www.renesola.com.

About Positive Energy Solar

Positive Energy Solar has a long history of community involvement. Positive Energy Solar and its employees routinely support community agencies through financial contributions and volunteering. Positive Energy Solar has installed over 850 systems throughout New Mexico. Some of the more recognizable systems are the PNM Sunflowers in Algodones on I-25, the 100kW on the Santa Fe Community Convention Center, and a 100kW carport at Las Cruces City Hall that is currently undergoing installation. Positive Energy Solar is New Mexico's leading residential and commercial solar installer. Customers trust Positive Energy Solar to provide maximum value from their investment in solar. For more information, please visit www.positiveenergysolar.com.

Safe Harbor Statement

This press release contains statements that constitute ''forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Whenever you read a statement that is not simply a statement of historical fact (such as when the Company describes what it "believes," "expects" or "anticipates" will occur, what "will" or "could" happen, and other similar statements), you must remember that the Company's expectations may not be correct, even though it believes that they are reasonable. The Company does not guarantee that the forward-looking statements will happen as described or that they will happen at all. Further information regarding risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements is included in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's annual report on Form 20-F. The Company undertakes no obligation, beyond that required by law, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, even though the Company's situation may change in the future.

For investor and media inquiries, please contact:

In China:
Mr. Tony Hung
ReneSola Ltd
Tel: +86-573-8473-9011
E-mail: [email protected]

Mr. Derek Mitchell
Ogilvy Financial, Beijing
Tel: +86-10-8520-3073
E-mail: [email protected]

In the United States:

Mr. Brian Armentrout
ReneSola Ltd
Tel: +1-603-748-6933
E-mail: [email protected]

Ms. Jessica Barist Cohen
Ogilvy Financial, New York
Tel: +1-646-460-9989
E-mail: [email protected]

SOURCE ReneSola Ltd.