Generous FIT and limited domestic capacity present huge opportunities to overseas PV developers and manufacturers

JinkoSolar return to profitability sets the tone for the industry’s comeback

In the U.S., the company recently announced that it has completed construction on two utility-scale solar power projects in North Carolina

TOKYO, Feb. 25, 2013 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL), a leading global manufacturer of solar photovoltaic ("PV") modules and wafers, today announced the Company established a Japanese subsidiary, ReneSola Japan Ltd., in October 2012 to drive sales and business development in Japan. In addition, the Company has applied for its products to be listed by the Japan Photovoltaic Expansion Center ("JPEC") for eligibility to receive installation subsidies from the Japanese government.

JPEC listing is considered the biggest hurdle for a foreign company to enter Japan's residential solar market.

The quarterly loss has nearly doubled from $35.4M in Q2 2011, to $72M in Q2 2012, which translated as loss per share of $0.37

The announcement of the new FiT is a shot in the arm for the solar industry, moreover for the greater investor public who continues to only see solar as a subsidized game

Overall total shipments for the full fiscal year ending March 2012 were 2.6GW, showing growth of 5.8%.

Japan is expected to reach 20GW of renewable capacity by 2014 and will become the third largest photovoltaic market in the world

Though Japan too is affected by the global solar module and polysilicon price fall, the mature Japanese solar market is grappling with slightly different market forces