ReneSola attended the BNEF and discussed strategies for Chinese brands to expand globally. How can we enhance our profit model ?
From Nov 27th - 28th, BNEF Summit Shanghai 2023 was grandly held at The Ritz-Carlton Hotel in Shanghai , over 600 senior figures from various sectors convened, including industry leaders, investment experts, and politicians. They discussed China's future medium and long-term energy and application fields together. During the roundtable dialogue, Shi Ming, the General Manager of ReneSola, shared his unique opinions on how Chinese brands can enter overseas markets, increase profit models, and enhance competitiveness.
In order to cope with international competition, photovoltaic companies can expand into overseas markets, concentrate their superior resources, establish overseas channels and production bases, reduce costs, improve delivery capabilities, build brand recognition and financing capabilities, develop multiple profit models, and continuously strengthen their competitiveness.
Lara Hayim, the head of photovoltaic research at BNEF, conducted a comprehensive analysis of photovoltaic companies' market share, installed capacity, demand forecasts, and growth trends on each continent in the highly competitive global market. In addition, he briefly outlined the efforts of different governments to stimulate local development. Policies introduced for manufacturing, as well as the challenges these policies will face in the future of photovoltaic energy transformation.
In the fierce global competition, what policies does the brand plan to adopt in order to win?
Revitalize global resources and achieve competitive advantages
We have established a global integrated operating system centered around our core competencies, which include global research and development, supply chain management, financial management, and risk management. In order to meet market demand, we have partnered with our allies to explore integrated optical and storage solutions. In the future, we will continue to innovate and expand in the global market to offer improved products and services.
Product is king
We insist on investing in research and development and continuously launching new products. For example, our innovative new product is an integrated solution for balcony photovoltaic energy storage.
In overseas business, how can we cooperate and share resources to reduce costs and improve efficiency?
Establish strategic cooperation: Identify companies with complementary advantages, integrate resources, minimize redundant investment, and reduce procurement costs.
Shared research and development (R&D) and technological innovation can improve product quality and performance, accelerate technological progress, and reduce R&D costs.
Integrate supply chains and optimize processes to reduce inventory and logistics costs.
Share market information and resources to develop the market, reduce marketing costs, and increase market share.
Develop standardized processes to reduce administrative and production cost increases caused by regional differences.
Talent training and exchange ensure the development of similar professional skills and enhance flexibility and response speed.
ReneSola is committed to becoming the world's leading manufacturer of photovoltaic modules. We aim to establish a global supply system and provide integrated smart energy solutions. We support companies that are looking to enter the photovoltaic industry. Through collaboration with multiple suppliers, we can effectively manage construction expenses, enhance system efficiency, and attain mutual benefits and win-win outcomes. We will mobilize global resources and foster the growth and advancement of the photovoltaic industry.