ReneSola has now become an industry leader in low cost manufacturing. We anticipate additional cost reductions throughout 2010 which, combined with expected strong market demand for wafers, should help to further increase our profitability." Results for the First Quarter 2010 Changes in Wafer Efficiency Calculation Effective January 1, 2010, the Company adjusted its efficiency calculation to reflect its current solar cell conversion efficiency rates. As of December 31, 2009, the Company had achieved average conversion efficiency rates for solar cells utilizing in-house monocrystalline and multicrystalline wafers of 17.4% and 16%, respectively. This compares to the Company's previous monocrystalline and multicrystalline conversion efficiency rates of 16% and 15%, respectively. Under these adjusted conversion efficiency rates, the average amount of power per watt ("W") generated by each wafer has increased 5% to 8%.