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Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2018 shares
Document and Entity Information [Abstract]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Entity Registrant Name	ReneSola Ltd
Entity Central Index Key	0001417892
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	380,818,902
Entity Shell Company	false
Entity Emerging Growth Company	false

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 6,750,178	$ 13,429,301
Restricted cash	2,275,866	0
Accounts receivable, net of allowances for doubtful accounts of nil as of December 31, 2017 and 2018	34,483,462	23,312,086
Advances to suppliers, net	379,568	379,792
Value added tax recoverable	12,808,144	15,228,594
Prepaid expenses and other current assets	14,318,076	10,542,822
Project assets current	64,257,766	76,556,400
Deferred project costs	0	17,957,041
Contract costs	0	12,668,709
Total current assets	135,273,060	170,074,745
Property, plant and equipment, net	190,787,262	154,659,077
Deferred tax assets, net	1,111,472	59,298
Project assets non-current	44,081,599	7,480,574
Other non-current assets	6,458,949	3,425,098
Total assets	377,712,342	335,698,792
Current liabilities:
Short-term borrowings	44,464,515	6,605,894
Accounts payable	12,050,201	25,787,686
Advances from customers	102,510	236,607
Amounts due to related parties	23,238,984	60,370,065
Other current liabilities	52,748,907	30,514,235
Income tax payable	706,744	330,132
Salary payable	425,207	560,416
Deferred project revenue	0	20,791,918
Total current liabilities	133,737,068	145,196,953
Long-term borrowings	41,435,099	32,513,900
Failed sale-lease back and capital lease liabilities	77,874,770	67,505,469
Total liabilities	253,046,937	245,216,322
Commitments and contingencies (see Note 19)
Shareholders' equity
Common shares (500,000,000 shares; no par value, shares authorized at December 31, 2017 and 2018; 381,027,002 shares issued and 380,678,902 shares outstanding at December 31, 2017; 381,027,002 shares issued and 380,818,902 shares outstanding at December 31, 2018)	519,313,350	519,225,850
Additional paid-in capital	9,364,019	9,012,448
Accumulated deficit	(433,514,434)	(435,517,610)
Accumulated other comprehensive loss	(4,493,312)	(2,238,218)
ReneSola Ltd shareholders' equity	90,669,623	90,482,470
Noncontrolling interest	33,995,782	0
Total shareholders' equity	124,665,405	90,482,470
Total liabilities and shareholders' equity	$ 377,712,342	$ 335,698,792

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Accounts receivable, allowances for doubtful accounts (in dollars)	$ 0	$ 0
Common shares, par value (in dollars per share)	$ 0	$ 0
Common shares, shares authorized	500,000,000	500,000,000
Common shares, shares issued	381,027,002	381,027,002
Common shares, shares outstanding	380,818,902	380,678,902

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net revenue:
Total net revenue	$ 96,906,335	$ 102,973,999	$ 80,504,734
Cost of revenue	(68,836,588)	(88,842,244)	(73,271,853)
Gross profit	28,069,747	14,131,755	7,232,881
Operating (expenses)/income:
Sales and marketing	(885,803)	(1,710,024)	(549,299)
General and administrative	(10,199,524)	(6,179,274)	(6,828,817)
Other operating income/(expenses)	(1,452,532)	313,153	2,493,898
Total operating expenses	(12,537,859)	(7,576,145)	(4,884,218)
Income from operations	15,531,888	6,555,610	2,348,663
Non-operating (expenses)/income:
Interest income	193,552	51,403	3,552
Interest expense	(8,703,904)	(3,936,302)	(1,842,227)
Foreign exchange (losses)/gains	(2,460,812)	894,704	(1,072,836)
Losses on derivatives, net	0	0	(134)
Gains on repurchase of convertible notes	0	0	212,056
Fair value change of warrant liability	0	0	577,500
Other income/(loss)	346,965	(43,516)	0
Total non-operating expenses	(10,624,199)	(3,033,711)	(2,122,089)
Income before income tax	4,907,689	3,521,899	226,574
Income tax benefit/(expense)	188,791	(322,068)	(132,092)
Income from continuing operations, net of tax	5,096,480	3,199,831	94,482
Discontinued operations
Gain on disposal of discontinued operations before income taxes	0	106,292,213	0
Loss from operations of discontinued operations before income taxes	0	(79,782,830)	(32,631,226)
Income tax benefit/(expense)	0	4,748,324	(2,161,507)
Income/(loss) from discontinued operations, net of tax	0	31,257,707	(34,792,733)
Net income/(loss)	5,096,480	34,457,538	(34,698,251)
Less: Net income attributed to noncontrolling interests	3,336,769	0	0
Net income/(loss) attributed to ReneSola Ltd	$ 1,759,711	$ 34,457,538	$ (34,698,251)
Income attributed to ReneSola Ltd per share from continuing operations
Basic	$ 0.00	$ 0.01	$ 0.00
Diluted	0.00	0.01	0.00
Income/(loss) attributed to ReneSola Ltd per share from discontinued operations
Basic	0	0.13	(0.17)
Diluted	$ 0	$ 0.13	$ (0.17)
Weighted average number of shares used in computing income/(loss) per share
Basic (in shares)	380,752,929	246,899,286	202,229,767
Diluted (in shares)	380,752,929	246,905,289	202,403,904
Solar power project development [Member]
Net revenue:
Net revenue	$ 48,784,766	$ 64,837,042	$ 77,372,737
Electricity generation revenue [Member]
Net revenue:
Net revenue	29,257,928	12,247,320	3,131,997
EPC services [Member]
Net revenue:
Net revenue	18,544,164	25,853,288	0
Other [Member]
Net revenue:
Net revenue	$ 319,477	$ 36,349	$ 0

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net income/(loss)	$ 5,096,480	$ 34,457,538	$ (34,698,251)
Other comprehensive income/(loss), net of tax of nil:
Foreign currency translation adjustment	(2,541,550)	11,513,216	(10,343,509)
Release of translation difference due to disposal of discontinued operation	0	(64,984,682)	0
Other comprehensive loss	(2,541,550)	(53,471,466)	(10,343,509)
Comprehensive income/(loss)	2,554,930	(19,013,928)	(45,041,760)
Less: Comprehensive income attributed to noncontrolling interests	3,050,313	0	0
Comprehensive loss attributed to ReneSola Ltd	$ (495,383)	$ (19,013,928)	$ (45,041,760)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Total	Common shares [Member]	Treasury stock [Member]	Additional paid-in Capital [Member]	Accumulated deficit [Member]	Accumulated other comprehensive income/(loss) [Member]	Equity attributable to ReneSola Ltd [Member]	Noncontrolling interest [Member]
Balance at Dec. 31, 2015	$ 111,933,912	$ 477,964,702	$ 0	$ 7,669,350	$ (435,276,897)	$ 61,576,757	$ 111,933,912	$ 0
Balance (in shares) at Dec. 31, 2015		203,331,288	0
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(34,698,251)	$ 0	$ 0	0	(34,698,251)	0	(34,698,251)	0
Release of translation difference due to disposal of discontinued operation	0
Other comprehensive loss, net of tax	(10,343,509)	0	0	0	0	(10,343,509)	(10,343,509)	0
Share-based compensation	746,980	0	0	746,980	0	0	746,980	0
Share exercised by employee	$ 0	$ 187,000	$ 0	(187,000)	0	0	0	0
Share exercised by employee (in shares)	0	500,000	0
Repurchase of common shares	$ (1,493,352)	$ 0	$ (1,493,352)	0	0	0	(1,493,352)	0
Repurchase of common shares (in shares)		0	2,804,286
Cancellation of shares	0	$ (980,215)	$ 980,215	0	0	0	0	0
Cancellation of shares (in shares)		(1,352,586)	(1,352,586)
Balance at Dec. 31, 2016	66,145,780	$ 477,171,487	$ (513,137)	8,229,330	(469,975,148)	51,233,248	66,145,780	0
Balance (in shares) at Dec. 31, 2016		202,478,702	1,451,700
Increase (Decrease) in Stockholders' Equity
Net income (loss)	34,457,538	$ 0	$ 0	0	34,457,538	0	34,457,538	0
Release of translation difference due to disposal of discontinued operation	(64,984,682)	0	0	0	0	(64,984,682)	(64,984,682)	0
Other comprehensive loss, net of tax	(53,471,466)	0	0	0	0	11,513,216	11,513,216	0
Issuance of ordinary shares in conjunction with disposal of discontinued operations	$ 42,480,000	$ 42,480,000	$ 0	0	0	0	42,480,000	0
Issuance of ordinary shares in conjunction with disposal of discontinued operations (in shares)	180,000,000	180,000,000	0
Share-based compensation	$ 870,618	$ 0	$ 0	870,618	0	0	870,618	0
Share exercised by employee	$ 0	$ 87,500	$ 0	(87,500)	0	0	0	0
Share exercised by employee (in shares)	0	0	0
Cancellation of shares	$ 0	$ (513,137)	$ 513,137	0	0	0	0	0
Cancellation of shares (in shares)	(1,451,700)	(1,451,700)	(1,451,700)
Balance at Dec. 31, 2017	$ 90,482,470	$ 519,225,850	$ 0	9,012,448	(435,517,610)	(2,238,218)	90,482,470	0
Balance (in shares) at Dec. 31, 2017		381,027,002	0
Increase (Decrease) in Stockholders' Equity
Cumulative-effect adjustment for the adoption of Accounting Standards Codification ("ASC") Topic 606	869,985	$ 0	$ 0	0	869,985	0	869,985	0
Net income (loss)	5,096,480	0	0	0	1,759,711	0	1,759,711	3,336,769
Capital injection from non-controlling interests	30,318,949	0	0	0	(626,520)	0	(626,520)	30,945,469
Release of translation difference due to disposal of discontinued operation	0
Other comprehensive loss, net of tax	(2,541,550)	0	0	0	0	(2,255,094)	(2,255,094)	(286,456)
Issuance of ordinary shares in conjunction with disposal of discontinued operations	42,500,000
Share-based compensation	439,071	0	0	439,071	0	0	439,071	0
Share exercised by employee	$ 0	$ 87,500	$ 0	(87,500)	0	0	0	0
Share exercised by employee (in shares)	0	0	0
Balance at Dec. 31, 2018	$ 124,665,405	$ 519,313,350	$ 0	$ 9,364,019	$ (433,514,434)	$ (4,493,312)	$ 90,669,623	$ 33,995,782
Balance (in shares) at Dec. 31, 2018		381,027,002	0

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating activities:
Net income/(loss)	$ 5,096,480	$ 34,457,538	$ (34,698,251)
Less: (Income)/loss from discontinued operations, net of tax	0	(31,257,707)	34,792,733
Net income from continuing operations	5,096,480	3,199,831	94,482
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:
Depreciation	8,402,169	4,475,823	2,400,522
Amortization of deferred convertible notes issuance costs and premium	0	0	32,935
Losses on derivatives	0	0	134
Share-based compensation	439,071	870,618	746,980
Deferred tax provision for continuing operations	(1,094,385)	88,048	(151,737)
Fair value change of warrant liability	0	0	(577,500)
Gains on repurchase of convertible notes	0	0	(212,056)
Gains on disposal of solar project	(290,729)	0	(2,526,572)
Changes in working capital, excluding impact of dispositions:
Accounts receivable	(5,607,302)	(22,371,300)	(301,339)
Advances to suppliers	(19,647)	3,864,146	7,383,527
Value added tax recoverable	1,673,423	(9,052,607)	3,244,727
Prepaid expenses and other current assets	(4,157,231)	(8,625,177)	(313,134)
Project assets and deferred project costs	(9,737,172)	(30,731,709)	(35,788,345)
Contract costs	6,638,389	(12,192,302)	0
Other non-current assets	(3,138,597)	103,535	(3,250,650)
Accounts payable	(12,755,646)	24,452,548	(2,432,060)
Advances from customers	(126,851)	(282,019)	83,406
Amounts due to related parties	(16,606,095)	14,353,175	0
Other current liabilities	460,750	(1,802,578)	7,559,456
Income tax payable	408,382	284,182	0
Salary payable	(135,209)	560,416	0
Deferred project revenue	(20,536,065)	(13,878,685)	0
Net cash used in operating activities from continuing operations	(51,086,265)	(46,684,055)	(24,007,224)
Net cash provided by operating activities from discontinued operation	0	65,114,169	51,541,103
Net cash provided by/(used in) operating activities	(51,086,265)	18,430,114	27,533,879
Investing activities:
Purchase of property, plant and equipment	(40,399,769)	(80,314,313)	0
Proceeds from disposal of power stations	0	0	3,190,678
Lending to related parties	0	(1,624,261)	0
Repayment of lending by related parties	0	2,000,000	0
Net cash paid on settlement of derivatives	0	0	(134)
Net cash provided by/(used in) investing activities from continued operation	(40,399,769)	(79,938,574)	3,190,544
Net cash provided by/(used in) investing activities from discontinued operations	0	(76,415,127)	38,969,387
Net cash provided by/(used in) investing activities	(40,399,769)	(156,353,701)	42,159,931
Financing activities:
Proceeds from banks and other third party borrowings	59,977,400	6,101,351	0
Repayment of banks and other third party borrowings	(9,693,015)	0	(1,128,727)
Contribution from non-controlling interest holders of subsidiaries	30,318,948	0	0
Repurchase of convertible notes	0	0	(25,931,219)
Cash paid for common shares repurchase	0	0	(1,493,350)
Borrowings from related parties	17,273,194	11,343,739	0
Repayment of borrowings from related parties	(20,478,081)	(2,041,201)	0
Repayment of capital lease obligation	(4,960,478)	(976,966)	0
Proceeds from failed sale-lease back agreements	24,876,650	38,722,123	0
Repayment of failed sale-lease back financing	(11,490,104)	(251,213)	0
Net cash provided by/(used in) financing activities from continued operation	85,824,514	52,897,833	(28,553,296)
Net cash provided by/(used in) financing activities from discontinued operation	0	49,505,882	(33,820,418)
Net cash provided by/(used in) financing activities	85,824,514	102,403,715	(62,373,714)
Effect of exchange rate changes	1,258,263	11,612,791	(8,028,939)
Net decrease in cash and cash equivalents and restricted cash	(4,403,257)	(23,907,081)	(708,843)
Cash and cash equivalents and restricted cash, beginning of year (includes $33,371,486 of cash in assets of discontinued operations on December 31, 2016)	13,429,301	37,336,382	38,045,225
Cash and cash equivalents and restricted cash, end of year	9,026,044	13,429,301	37,336,382
Supplemental disclosure of cash flow information
Interest paid, net of capitalized interest	8,274,634	3,936,302	2,973,128
Income tax paid	637,527	42,877	79,976
Non-cash investing and financing transactions
Payables for purchase of property, plant and equipment	(36,680,431)	(25,562,367)	(2,051,958)
Payable for capital lease	$ (34,130,495)	$ (28,783,346)	$ 0

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)	Dec. 31, 2016 USD ($)
Disposal Group, Including Discontinued Operation, Cash	$ 33,371,486

ORGANIZATION AND NATURE OF OPERATIONS

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

ORGANIZATION AND NATURE OF OPERATIONS

1. ORGANIZATION AND NATURE OF OPERATIONS

ReneSola Ltd was incorporated in the British Virgin Island on March 17, 2006. On January 29, 2008, the Company became listed on the New York Stock Exchange (“NYSE”) in the United States. ReneSola Ltd and its subsidiaries (collectively, the “Company”) were principally engaged in the manufacture and sale of solar power products including virgin polysilicon, monocrystalline and multi crystalline solar wafers and photovoltaic (“PV”) cells and modules. From 2012, the Company began entering into arrangements to develop commercial solar power projects, or project assets, which consists primarily of solar power project development, and Engineering, Procurement and Construction (“EPC”) services. On September 29, 2017, the Company announced that it completed restructuring to dispose of its manufacturing business (including polysilicon, solar wafer, solar cell and solar module manufacturing) and LED distribution business (collectively, the “discontinued business”) to a related party to help the Company transform its business model to focus on its solar power project business (Note 3).

SUMMARY OF PRINCIPAL ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

SUMMARY OF PRINCIPAL ACCOUNTING POLICIES

2. SUMMARY OF PRINCIPAL ACCOUNTING POLICIES

(a) Basis of presentation

The consolidated financial statements have been prepared and presented in accordance with accounting principles generally accepted in the United States of America (“US GAAP”).

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The realization of assets and the satisfaction of liabilities in the normal course of business are dependent on, among other things, the Company’s ability to generate cash flows from operations, and the Company’s ability to arrange adequate financing arrangements, to support its working capital requirements.

The Company has performed a review of its cash flow forecast for at least the twelve months following the issuance date of these financial statements. The Company expects the solar power project business to generate positive cash inflow in the forecasted period. As of December 31, 2018, the Company has certain material short-term obligations that will require material financing cash outflows, such as financing lease payments and the current portion of its long-term loans. The Company has developed a plan to continue meeting its financing arrangements, which includes refinancing loans which are set to mature within one year, entering into new bank borrowings and financing leases, repaying loans with proceeds from the sale of solar power projects, reducing investment in the purchase of property, plant and equipment, and through raising additional capital through equity offerings. In addition, the Company believes that the continuing efforts to stream-line the Company’s operations will enable the Company to control operating costs to be better aligned with its operations, market demand and projected sales levels.

Based on the above factors, management believes that adequate sources of liquidity exist to fund the Company’s working capital and capital expenditures requirements, and to meet its short term debt obligations, other liabilities and commitments as they become due for at least twelve months from the issuance date of these financial statements.

Disposal of manufacturing business and LED distribution business

On September 25, 2017 (the “Disposal Date”), the Company transferred all of the Company’s assets and liabilities related to its manufacturing business (including polysilicon, solar wafer, solar cell and solar module manufacturing) and LED distribution business to Mr. Xianshou Li, Chairman and Chief Executive Officer of the Company, through a transfer of all the share capital in ReneSola Singapore Pte. Ltd. (“ReneSola Singapore”), a wholly-owned subsidiary of ReneSola, prior to the Disposal Date.

The financial results of ReneSola Singapore, together with its subsidiaries, for the twelve months ended December 31, 2016, and the nine months ended September 30, 2017 have been classified as discontinued operations within the accompanying consolidated financial statements. As the disposal date was just prior to the end of the quarter, there were no material transactions during the five days between September 25 and September 30, 2017; therefore, the disposal transaction was measured as of September 30, 2017. Unless otherwise indicated, amounts provided in these Notes pertain to continuing operations only (see Note 3 for information on discontinued operations).

(b) Basis of consolidation

The consolidated financial statements include the financial statements of ReneSola Ltd and its subsidiaries. All inter-company transactions, balances and unrealized profits and losses have been eliminated on consolidation.

A non-controlling interest is recognized to reflect the portion of a subsidiary’s equity which is not attributable, directly or indirectly, to the Company. Consolidated net income on the consolidated statements of operations and comprehensive income includes the net income (loss) attributable to non-controlling interests when applicable. The cumulative results of operations attributable to non-controlling interests are also recorded as non-controlling interests in the Company’s consolidated balance sheets. Cash flows related to transactions with non-controlling interests are presented under financing activities in the consolidated statements of cash flows when applicable.

A component of a reporting entity or a group of components of a reporting entity that are disposed or meet the criteria to be classified as held for sale, such as the management, having the authority to approve the action, commits to a plan to sell the disposal group, is reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on the Company’s operations and financial results. Discontinued operations are reported when a component of the Company comprising operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the Company is classified as held for disposal or has been disposed of, if the component either (1) represents a strategic shift or (2) have a major impact on the Company’s financial results and operations. Examples include a disposal of a major geographical location, line of business, or other significant part of the Company or disposal of a major equity method investment. In the consolidated statement of operations, results from discontinued operations are reported separately from the income and expenses from continuing operations and prior periods are presented on a comparative basis. In order to present the financial effects of the continuing operations and discontinued operations, revenues and expenses arising from intra-group transactions are eliminated except for those revenues and expenses that are considered to continue after the disposal of the discontinued operations.

(d) Fair value measurement

The Company estimates fair value of financial assets and liabilities as the price that would be received from the sales of an asset or paid to transfer a liability (an exit price) on the measurement date in an orderly transaction between market participants.

(e) Use of estimates

The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses for the reporting periods presented. Actual results could materially differ from these estimates. Significant accounting estimates are susceptible to changes with the acquisition of the information, which include revenue recognition for sales of solar power projects, inputs used to recognize revenue over time, EPC warranties, allowances for doubtful receivables, valuation of deferred tax assets, recoverability of the carrying value of long-lived assets and project assets.

(f) Cash and cash equivalents

Cash and cash equivalents represent cash on hand and held with banks, including demand deposits, which are unrestricted as to withdrawal and use, and which have original maturities of three months or less when purchased.

(g) Restricted Cash

Restricted cash consists of cash and cash equivalents held by various banks to secure certain of our letters of credit and other deposits designated for the payment of amounts related to loan interests. Restricted cash also includes cash and cash equivalents held in frozen bank accounts due to judicial property preservations.

Restricted cash is classified as current based on the maturity date of the corresponding letter of credit, loan and judicial property preservations, and is recorded in prepaid expenses and other current assets.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within our consolidated balance sheets as of December 31, 2017 and 2018 to the total of such amounts as presented in the consolidated statements of cash flows:

	At December 31,
	2017		2018
Cash and cash equivalents	$	13,429,301	$	6,750,178
Restricted cash		-		2,275,866
Total cash, cash equivalents, and restricted cash	$	13,429,301	$	9,026,044

(h) Project assets and deferred project costs

In 2012, the Company began entering into arrangements to develop commercial solar power projects (“project assets”) for sale upon their completion. Project assets consist primarily of costs relating to solar power projects in various stages of development that are capitalized prior to entering into a definitive sales agreement for the solar power project. These costs include certain acquisition costs, land costs and costs for developing and constructing a solar power project. Development costs can include legal, consulting, permitting, and other similar costs. Construction costs can include execution of field construction, installation of solar equipment, and solar modules and related equipment. Interest costs incurred on debt during the construction phase are also capitalized within project assets. The Company does not depreciate the project assets, when they are considered held for sale. Any revenue generated from a solar power project connected to the grid would be considered incidental revenue and accounted for as a reduction of the capitalized project costs for development. In addition, the Company presents all expenditures related to the development and construction of project assets as a component of cash flows from operating activities.

During the development phase, these project assets are accounted for in accordance with the recognition, initial measurement and subsequent measurement subtopics of ASC 970-360, as they are considered in substance real estate. While the solar power projects are in the development phase, they are generally classified as non-current assets, unless it is anticipated that construction will be completed and sale will occur within one year.

The Company capitalizes the costs related to solar power projects in various stages of development prior to entering into a definitive sales agreement for the solar power project and classifies these costs as project assets on the consolidated balance sheets when the criteria in ASC 360-10-45-9 are met. If not met, the Company reclassifies them to property, plant and equipment, unless the delay in the period required to complete the sale is caused by events or circumstances beyond the Company’s control.

Deferred project costs represents costs that are capitalized as deferred project assets for arrangements that are accounted for as real estate transactions after the Company has entered into a definitive sales arrangement, but before the sale is completed or before all criteria to recognize the sale as revenue is met. The Company classifies deferred project costs as noncurrent if satisfaction of all revenue recognition criteria is not expected within the next 12 months. As of December 31, 2015, the Company entered into a sale transaction for one project asset, which includes contractual provisions which may require the Company to repurchase the project asset under certain circumstances, and the revenue recognition criteria is not met until the issuance of the final acceptance certificate (“FAC”) by the customer. The repurchase provisions expired on June 30, 2017 and the FAC was received in March 2018. Deferred project costs as of December 31, 2017 were derived from this one project. Therefore, the Company has classified the project asset as current deferred project cost as of December 31, 2017. As of December 31, 2018, there are no such deferred project costs as the sales of the project were completed during the year ended December 31, 2018.

The Company reviews project assets and deferred project costs for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company considers a project commercially viable or recoverable if it is anticipated to be sold for a profit once it is either fully developed or fully constructed. The Company considers a partially developed or partially constructed project commercially viable or recoverable if the anticipated selling price is higher than the carrying value of the related project assets and the estimated costs to complete. The Company examines a number of factors to determine if the project will be recoverable, the most notable of which include whether there are any changes in environmental, ecological, permitting, market pricing or regulatory conditions that impact the project. Such changes could cause the costs of the project to increase or the selling price of the project to decrease. If a project is not considered recoverable, the Company impairs the respective project assets and adjusts the carrying value to the estimated recoverable amount, with the resulting impairment recorded within cost of revenue. The Company did not recognize any impairment losses on project assets for the years ended December 31, 2016, 2017 and 2018, respectively.

(i) Contract costs

The Company provides EPC services including engineering design, construction contracting and management, procurement of PV modules, balance-of-system components and other components. Contract costs generally include all direct costs, such as materials, direct labor, and subcontracts, and indirect costs identifiable with or allocable to the contracts.

Contract costs also include the costs related to the design, engineering, and costs of all PV modules and materials needed for the projects for the cooperation arrangements with third party to jointly construct the power projects for sale.

Contract costs are accumulated and are charged to operations as the related revenue from contracts is recognized. Refer to the note 2 (s) EPC services for the corresponding revenue streams.

(j) Advances to suppliers and advances for purchases of property, plant and equipment

In order to secure a stable supply of construction materials, the Company makes advance payments to suppliers for raw material supplies and advances for purchases of long-lived assets which are offset against future deliveries. Advances to suppliers for purchases expected within twelve months as of each balance sheet date are recorded as advances to suppliers in current assets and those associated with purchases expected over longer periods of time are recorded in non-current advances to suppliers. As of December 31, 2017 and 2018, advances to suppliers in current assets were $379,792 and $379,568, respectively, and non-current advances to suppliers for construction materials supplies were nil. Advances for property, plant and equipment are recorded in non-current assets and were nil as of December 31, 2017 and 2018. The Company does not require collateral or other security against its advances to suppliers. As a result, the Company’s claims for such prepayments are unsecured, which exposes the Company to the suppliers’ credit risk. The Company performs ongoing credit evaluations of the financial condition of its material suppliers.

(k) Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and impairment. Depreciation is computed on a straight-line basis over the following estimated useful lives:

Plant and machinery	3-5 years
Motor vehicles	4-5 years
Office equipment	3-5 years
Power stations	25 years

Estimated useful life of land is infinite and no depreciation is provided.

Construction in progress represents mainly the construction of solar power projects the Company will own and operate for electricity generation. Costs incurred in the construction are capitalized and transferred to property, plant and equipment upon completion, at which time depreciation commences.

Expenditures for repairs and maintenance are expensed as incurred. The gain or loss on disposal of property, plant and equipment, if any, is the difference between the net sales proceeds and the carrying amount of the disposed assets, and is recognized in the consolidated statement of operations upon disposal.

(l) Assets held-for-sale

Assets and asset disposal groups are classified as held-for-sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use. This condition is regarded as met only when management has committed to a plan of sale and the sale is highly probable, the assets are available for immediate sale in their present condition and they are expected to qualify for recognition as a completed sale within one year from the date of classification. Assets and liabilities classified as held for sale are measured at lower of their carrying amount and fair value less costs to sell.

Long-lived assets to be sold shall be classified as held for sale considering the recognition criteria in ASC 360-10-45-9 in which all of the following criteria are met:



Management, having the authority to approve the action, commits to a plan to sell the asset,



The asset is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets;



An active program to locate a buyer and other actions required to complete the plan to sell the asset have been initiated;



The sale of the asset is probable, and transfer of the asset is expected to qualify for recognition as a completed sale, within one year;



The asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and



Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

(m) Interest capitalization

The Company capitalizes interest costs as part of the costs of constructing certain assets during the period of time required to get the assets ready for their intended use. The Company capitalizes interest to the extent that expenditures to construct an asset have occurred and interest costs have been incurred. The interest capitalized for project assets forms part of the cost of revenue when such project assets are sold and all revenue recognition criteria are met. Interest is capitalized for solar power projects that are classified as property, plant and equipment and built for the Company to own and operate for electricity generation before the projects are completed and put into operation. Interest capitalization ceases once a project is substantially complete or no longer undergoing construction activities to prepare it for its intended use.

(n) Impairment of long-lived assets

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable or that the useful life is shorter than originally estimated. The Company assesses recoverability of the long-lived assets by comparing the carrying amount of the assets to the estimated future undiscounted cash flows expected to result from the use of the assets and their eventual disposition. The Company recognizes an impairment loss in the event the carrying amount exceeds the estimated future undiscounted cash flows attributable to such assets, measured as the difference between the carrying amount of the assets and the fair value of the impaired assets.

The impairment losses of long-lived assets were nil for the years ended December 31, 2016, 2017 and 2018 respectively.

(o) Leases

Leases are classified as capital or operating leases. A lease that transfers to the lessee substantially all the benefits and risks incidental to ownership is classified as a capital lease. At inception, a capital lease is recorded at the present value of minimum lease payments or the fair value of the asset, whichever is less. Assets under capital leases are amortized on a basis consistent with that of similar fixed assets or the lease term, whichever is less.

Operating lease costs are recognized on a straight-line basis over the lease term. From time to time, the Company’s subsidiaries are asked to prepay the lease costs for over one year. As of December 31, 2017, the prepaid rental fees of US$3,425,098 were recorded in other non-current assets and US$1,652,826 were recorded in prepaid expenses and other current assets. As of December 31, 2018, the prepaid rental fees of US$640,349 were recorded in other non-current assets and US$954,969 were recorded in prepaid expenses and other current assets.

For a sale-leaseback transaction, when the transaction involves real estate or integral equipment, sale-leaseback accounting shall be used by a seller-lessee only if the transaction includes all of the following a) normal leaseback; b) payment terms and provisions that adequately demonstrate the buyer-lessor’s initial and continuing investment in the property; c) payment terms and provisions that transfer all of the other risks and rewards of ownership as demonstrated by the absence of any other continuing involvement by the seller-lessee.

Equipment is determined to be integral when the cost to remove the equipment from its existing location, ship and reinstall at a new site, including any diminution in fair value, exceeds 10% of the fair value of the equipment at the time of original installation.

If a sale-leaseback of real estate qualifies for sale-leaseback accounting, an analysis is performed to determine if the Company can record a sale and remove the assets from the balance sheet and recognize the lease; and if so, to determine whether to record the lease as either an operating or capital lease.

If a sale-leaseback transaction does not qualify for sale-leaseback accounting because of any form of continuing involvement by the seller-lessee other than a normal leaseback, it is accounted for as a financing arrangement.

(p) Deferred convertible notes issuance costs

Debt issuance costs are deferred and amortized using effective interest method through the earliest redemption date. The amortization, recorded in interest expense, was $32,935, nil and nil for the years ended December 31, 2016, 2017 and 2018, respectively.

(q) Contingencies

Liabilities for loss contingencies arising from claims, assessments, litigation, fines, and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. If a potential material loss contingency is not probable but is reasonably possible, or is probable but the amount cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, is disclosed. Legal costs incurred in connection with loss contingencies are expensed as incurred.

(r) Income taxes

Deferred income taxes are recognized for temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, net of operating loss carry forwards and credits by applying enacted statutory tax rates applicable to future years. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. Before 2016, the component of the deferred tax assets and liabilities were individually classified as current and non-current based on the characteristics of the underlying assets and liabilities, or the expected timing of their use when they did not relate to a specific asset or liability. Deferred tax assets and liabilities are all classified as non-current in the consolidated balance sheets.

(s) Revenue recognition

Under ASC 606

Solar power project development

a) Sale of project assets constructed by a third-party EPC contractor

The Company recognizes revenue for sales of project assets constructed by a third-party engineering, procurement and construction (“EPC”) contractor over time as the Company’s performance creates an energy generation asset that is owned by the customer as it is being constructed and the customer can direct all activities related to the work in progress. Furthermore, the sale of a project asset when combined with EPC services represents a single performance obligation for the development and construction of a single generation asset. The Company recognizes revenue overtime for construction contracts which recognize revenue and gross profit as work is performed based on the relationship between actual costs incurred compared to the total estimated costs of the contract. Under this business model, the EPC services are provided by a third-party service provider. In accordance with the terms and conditions of the EPC contract, the Company has the ability to direct a third party to ensure that the EPC services to the customer are performed, therefore the Company acts as the principal in this arrangement and both the revenue and cost amounts paid to the EPC contractor are recognized on a gross basis.

b) Sale of project assets constructed by the Company’s own EPC team

Under this business model, the Company sells power projects after they have been completed or are near completion. The Company conducts the construction of the power plant and completes or nearly completes the project before it identifies a customer. When a customer is identified, the Company enters into two agreements through signing: Sale and Purchase Agreement (“SPA”) and Operations and Maintenance (“O&M”) Services Contract, which are signed on the same date. Such arrangements consist of two performance obligations: sale of solar project and O&M services.

For sale of a solar project, the Company recognizes revenue at a point in time once control of project company is transferred to customer as the Company has no remaining performance obligation once the control is transferred upon closing of the sale. For O&M services, the Company recognizes revenue over time, ratably over the service period, as this performance enhances an energy generation asset controlled by the customer.

For sales agreements that have energy generation performance guarantees covering a certain timeframe or the availability guarantee in the O&M contract, if there is an underperformance event, the Company may incur liquidated damages as a percentage of the EPC contract price or as a percentage of O&M fees. Such performance guarantees represent a form of variable consideration and are estimated at contract inception at their most likely amount and updated at the end of each reporting period as additional performance data becomes available and only to the extent that it is probable that a significant reversal of any incremental revenue will not occur.

c) Sale of project asset rights

The Company sells the project rights to customers through the disposal of project companies holding the relevant permits. For these transactions, the project companies could either own the land or lease the land under the lease term that could cover the entire power plant’s life. In these transactions, the Company is also responsible for locating the electricity end subscribers on the customer’s behalf for certain percentage of the entire contact consideration. Such arrangements consist of two performance obligations: sale of project rights and sourcing of end subscribers.

The Company recognizes revenue for sale of project rights at a point in time once control of project rights is transferred to customer as the Company has no further obligations related to the project rights. The Company recognizes revenue for sourcing of end subscribers over time as the Company has an ongoing obligation during a certain period to source end subscribers. A portion of the sales price consideration is variable on the percentage of end subscribers sourced for the project. The Company estimates the amount that most likely overcomes the constraint on variable consideration to include in the transaction price based on the historical subscription rates achieved.

EPC Services

The Company provides EPC services under the EPC contracts, under which the Company provides one distinct performance obligation – design and build the power plant on customer’s site per customer’s request.

The Company recognizes revenue for EPC services over time as the Company’s performance creates or enhances an energy generation asset controlled by the customer. In recognizing revenue overtime, the Company follows the costs incurred method and uses the actual costs incurred relative to the total estimated costs (including module costs) in order to determine the progress towards completion and calculate the corresponding amount of revenue and profit to recognize. Costs incurred include direct materials, solar modules, labor, subcontractor costs, and those indirect costs related to contract performance, such as indirect labor and supplies.

The overtime revenue recognition requires the Company to make estimates of net contract revenues and costs to complete the projects. In making such estimates, significant judgment is required to evaluate assumptions related to the amount of net contract revenues, including the impact of any performance incentives, liquidated damages, and other payments to customers. Significant judgment is also required to evaluate assumptions related to the costs to complete the projects, including materials, labor, contingencies, and other system costs.

Although the EPC contract usually clearly states a fixed unit price and the estimated total contract amount, the total contract amount is subject to variable consideration due to the difference between actual grid-connection capacity and estimated grid-connection capacity. The Company makes a reasonable estimation of grid-connection capacity, which represents a form of variable consideration. The variable consideration is estimated at the contact inception at the best estimate based on relevant experience and historical data and updated at the end of each reporting period as additional performance data becomes available and only to the extent that it is probably that a significant reversal of any revenue will not occur.

If estimated total costs on any contract are greater than the net contract revenues, the Company recognizes the entire estimated loss in the period the loss becomes known. The cumulative effect of the revisions to estimates related to net contract revenues and costs to complete contracts, including penalties, claims, change orders, performance incentives, anticipated losses, and others are recorded in the period in which the revisions to estimates are identified and the amounts can be reasonably estimated. The effect of the changes on future periods are recognized as if the revised estimates had been used since revenue was initially recognized under the contract. Such revisions could occur in any reporting period, and the effects may be material depending on the size of the contracts or the changes in estimates. For the years ended December 31, 2016, 2017 and 2018, no such revisions occurred.

The Company bills the customer based on progress billing terms in the contract. Accounts receivable from EPC services (unbilled) represents revenue that has been recognized in advance of billing the customer, which is common for long-term construction contracts. The Company typically recognizes revenue from contracts for the construction and sale of PV solar power systems over time using cost based input methods, which recognizes revenue and gross profit as work is performed based on the relationship between actual costs incurred compared to the total estimated costs of the contract. Accordingly, revenue could be recognized in advance of billing the customer, resulting in an amount recorded to “Accounts receivable from EPC services (unbilled)” as disclosed in Note 4. Once the Company has an unconditional right to consideration under a construction contract, the Company typically bills the customer accordingly and reclassifies the “Accounts receivable from EPC services (unbilled)” to “Accounts receivable from EPC services (billed).” Billing requirements vary by contract but are generally structured around the completion of certain construction milestones. Certain of the EPC contracts for PV solar power systems contain retainage provisions. Retainage represents contract costs for the portion of the contract price earned for work performed, but held for payment by the customer as a form of security until certain defined timeframe has been reached. The Company considers whether collectability of such retainage is reasonably assured in connection with our overall assessment of the collectability of amounts due or that will become due under the EPC contracts. Retainage included within “Accounts receivable from EPC services (unbilled)” is expected to be billed and collected within the next 12 months. After the Company has satisfied the EPC contract requirements and has an unconditional right to consideration, the retainage is billed and reclassified to “Accounts receivable from EPC services (billed).” Refer to Note 4 for detail breakdown of the “Accounts receivable from EPC services (unbilled)” and “Accounts receivable from EPC services (billed)” amounts.

For EPC services, the Company provides a limited assurance only warranty for the modules, materials and construction part of the power plants. Although the Company subcontracts the construction to third party developers and purchase the raw materials and modules from third party suppliers, the Company is the primary obligor for the limited warranties such as solar module product warranty for a period of five to ten years, warranties for defects in engineering design, installation, workmanship for a period of one to two years and recorded as a liability in the Consolidated Balance Sheets. Nevertheless, the Company has a legally enforceable right to recover these warranties from the subcontractor and suppliers as these parties have contracted with the Company to assume these warranty obligations, and that the Company will also record receivables in the Consolidated Balance Sheets for expected reimbursement in amounts that the Company believe are probable. The EPC warranty expenses and expected recovery amounts related to warranties are recorded net of expense in the Consolidated Statement of Operations on the basis that the amounts provided by the subcontractor and suppliers are a reimbursement of our costs. As of December 31, 2017 and 2018, the related liabilities and receivables are not material. The related expenses for the three years ended December 31, 2016, 2017 and 2018 are not material.

Electricity

generation

revenue

The Company recognizes electricity generation revenue generated from power plants owned and operated by the Company over time as the customer receives and consumes the benefits as the Company performs. In recognizing revenue overtime, the Company follows the output method and uses the actual electricity supplied in order to determine the progress towards completion and calculate the corresponding amount of revenue and profit to recognize. The electricity generation records are reconciled with the power grid companies and the price of electricity is based on a fixed unit price according to the power purchase arrangement with the power grid companies. The Company is entitled to the feed-in tariff(s) (FIT) that the government guaranteed and subsidized electricity sale price at which solar power projects can produce green energy. The Company recognizes the FIT as part of the electricity generation revenue when the entitlement to receipt of such FIT is fulfilled.

Revenue from green certificates

The Company receives green energy certificates based on electricity generated from the power plants in a subsidiary. The Company sells these certificates to buyers who can then meet the mandatory government quota per year for green energy produced. The Company believes that these green certificates are a government incentive and the sale of green energy certificates does not fall into derivative and lease accounting scope. The Company recognizes revenue for the sale at a point in time once the control of green certificates have been transferred to the buyers according to the green certificate purchase arrangement. The consideration of selling green certificates sold is fixed as stated in the purchase arrangement.

For the years ended December 31, 2016, 2017 and 2018, revenue from green certificates were $1,708,163, $4,184,724 and $883,741, respectively, and is included in electricity generation revenue.

Value added tax (“VAT”)

Value added tax (“VAT”) at differentiated rates on invoice amount is collected on behalf of the tax authorities in respect of the different types of revenues and is not recorded as revenue. VAT paid for purchases, net of VAT collected from customers, is recorded as an asset.

Under ASC 605

Solar power project development

a) Sale of project assets

The Company recognizes revenue from the sale of project assets in accordance with ASC 360-20, Real Estate Sales. For these transactions, the Company has determined that the project assets, which represent the costs of constructing solar power projects, represent “integral” equipment and as such, the entire transaction is in substance the sale of real estate and subject to the revenue recognition guidance under ASC 360-20 Real Estate. Under the provisions of real estate accounting, the Company recognizes revenue under full accrual method when all of the following requirements are met: (a) the sales are consummated; (b) the buyer’s initial and continuing investments are adequate to demonstrate its commitment to pay; (c) the receivable is not subject to any future subordination; and (d) the Company has transferred the usual risk and rewards of ownership to the buyer. Specifically, the Company considers the following factors in determining whether the sales have been consummated: (a) the parties are bound by the terms of a contract; (b) all consideration has been exchanged; (c) permanent financing for which the seller is responsible has been arranged; and (d) all conditions precedent to closing have been performed, and the Company does not have any substantial continuing involvement with the project.

For sales agreements that have energy generation performance guarantees covering a certain timeframe, if there is an underperformance event, the Company may incur liquidated damages as a percentage of the EPC contract price. The Revenue recognized is reduced by the maximum amount of the payable liquidated damage, which amount is deferred until the end of the guarantee period.

For sales agreements that have conditional repurchase clauses if certain events occur, such as not achieving specified guaranteed performance level within a certain timeframe, the Company will defer and will not recognize revenue on such sales agreements until the conditional repurchase clauses are of no further force or effect and all other necessary revenue recognition criteria have been met.

b) Sale of project asset rights

The Company also sells the project rights to customers through the disposal of project companies holding the relevant permits. For these transactions, the project companies could either own the land or lease the land under the lease term that could cover the entire power plant’s life. For the transactions with the land owned, the Company accounts the entire transaction under the revenue recognition guidance of ASC 360-20 Real Estate. Under the provisions of real estate accounting, the Company recognizes revenue under full accrual method when all of the requirements mentioned in the sale of project assets above are met. For the transactions with the land leased, the Company recognizes revenue when the revenue is realized or realizable and earned in accordance with ASC 605-10-S99-1. In these transactions, the Company is also responsible for locating the electricity end subscribers for certain percentage of the entire contract consideration. A consideration reduction will occur if the located end subscribers don’t reach to a defined threshold per the contract terms. The portion of the revenue is not recognized until the contingency has been removed, that is when the relevant subscription agreements are effective. Costs incurred during the course of obtaining permits are capitalized and recorded in project assets before the sale of project rights is completed.

c) Jointly arrangements of power projects for sale

The Company also enters into cooperation arrangement to jointly construct power projects for sale. In the arrangement, the Company’s performance obligations generally including design, engineering, procurement of all PV modules, materials needed for the projects and locating end subscriptions, while the counterparty is the primary obligor for constructing the power projects under the joint cooperation agreement, holds the ownership of the land and power projects and sell the power projects. The Company and the counterparty each generally receive 50% of the total selling price of the power projects. The Company recognizes revenue, representing 50% of the selling price of the power projects, from this arrangement when the revenue is realized or realizable and earned in accordance with ASC 605-10-S99-1, which is normally when the power projects are sold to the external buyers, when all of the following requirements are met: (a) persuasive evidence of an arrangement exists; (b) delivery has occurred or services have been rendered; (c) the seller’s price to the buyer is fixed or determinable; and (d) collectability is reasonably assured.

EPC Services

The Company provides engineering, procurement and construction (“EPC”) services under the EPC contracts to design and build the power plant on customer’s site per customer’s request.

The Company generally recognizes revenue for EPC services over time using a percentage-of completion method as the Company’s performance creates or enhances an energy generation asset controlled by the customer per ASC 605-35. In applying the percentage-of-completion method, the Company follows the cost-to-cost method and uses the actual costs incurred relative to the total estimated costs (including module costs) in order to determine the progress towards completion and calculate the corresponding amount of revenue and profit to recognize. Costs incurred include direct materials, solar modules, labor, subcontractor costs, and those indirect costs related to contract performance, such as indirect labor and supplies. When contracts specify that title to direct materials and solar modules transfers to the customer before installation has been performed, the Company will not recognize revenue or the associated costs until those materials are installed and have met all other revenue recognition requirements.

The percentage-of-completion method of revenue recognition requires the Company to make estimates of net contract revenues and costs to complete our projects. In making such estimates, management judgments are required to evaluate significant assumptions including the amount of net contract revenues, the cost of materials and labor, subcontractor costs, the impact of potential variances in schedule completion, and the impact of any penalties, claims, change orders, or performance incentives.

The Company bills the customer based on progress billing terms in the contract. Accounts receivable from EPC services (unbilled) represents revenue that has been recognized in advance of billing the customer, which is common for long-term construction contracts. The Company typically recognizes revenue from contracts for the construction and sale of PV solar power systems over time using cost based input methods, which recognizes revenue and gross profit as work is performed based on the relationship between actual costs incurred compared to the total estimated costs of the contract. Accordingly, revenue could be recognized in advance of billing the customer, resulting in an amount recorded to “Accounts receivable from EPC services (unbilled)” as disclosed in Note 4. Once the Company has an unconditional right to consideration under a construction contract, the Company typically bills the customer accordingly and reclassifies the “Accounts receivable from EPC services (unbilled)” to “Accounts receivable from EPC services (billed).” Billing requirements vary by contract but are generally structured around the completion of certain construction milestones. Certain of the EPC contracts for PV solar power systems contain retainage provisions. Retainage represents contract costs for the portion of the contract price earned for work performed, but held for payment by the customer as a form of security until certain defined timeframe has been reached. The Company considers whether collectability of such retainage is reasonably assured in connection with the Company’s overall assessment of the collectability of amounts due or that will become due under the EPC contracts. Retainage included within “Accounts receivable from EPC services (unbilled)” is expected to be billed and collected within the next 12 months. After the Company has satisfied the EPC contract requirements and has an unconditional right to consideration, the retainage is billed and reclassified to “Accounts receivable from EPC services (billed).” Refer to Note 4 for detail breakdown of the “Accounts receivable from EPC services (unbilled)” and “Accounts receivable from EPC services (billed)” amounts.

For EPC services, the Company provides limited warranty for certain years for the modules, materials and construction part of the power plants. Although the Company subcontracts the construction to third party developers and purchase the raw materials and modules from third party suppliers, the Company is the primary obligor for the limited warranties such as solar module product warranty for a period of five to ten years, warranties for defects in engineering design, installation, workmanship for a period of one to two years and records a liability “Accrued EPC warranty liabilities” which is grouped under “Other current liabilities” in the Consolidated Balance Sheet and disclosed in Note 11. On another hand, the Company has a legally enforceable right to recover these warranties from the subcontractor and suppliers as these parties have contracted with the Company to assume these warranty obligations, and that the Company will also record receivables for expected reimbursement in amounts that the Company believes are probable as “EPC Warranty reimbursement receivables” which is grouped under “Prepaid expenses and other current assets” in the Consolidated Balance Sheet and disclosed in Note 5. The EPC warranty expenses and expected recovery amounts related to warranties are recorded net in expense in the Consolidated Statement of Operations on the basis that the amounts provided by the subcontractor and suppliers are a reimbursement of the Company’s costs. As of December 31, 2016 and 2017, the liabilities and receivables are not material. The related expenses for the years ended December 31, 2016 and 2017 are also not material.

Electricity generation revenue

The Company recognizes electricity generation revenue for company operated power plant when persuasive evidence of a power purchase arrangement with the power grid company exists, electricity has been generated and been transmitted to the grid and the electricity generation records are reconciled with the grid companies, the price of electricity is fixed or determinable and the collectability of the resulting receivable is reasonably assured. Note that the Company is entitled to the feed-in tariff(s) (FIT) that the government guaranteed and subsidized electricity sale price at which solar power projects can produce green energy. The Company recognizes the FIT as part of the electricity generation revenue when the entitlement to receipt of such FIT is fulfilled.

Revenue from green certificates

The Company receives green energy certificates based on electricity generated from the power plants in a subsidiary. The Company sells these certificates to buyers who can then meet the mandatory government quota per year for green energy produced. The Company believes that these green certificates are government incentive and the sale of green energy certificates does not fall into derivative and lease accounting scope. The Company recognizes revenue for the sale in accordance with ASC 605-10-S99-1 when persuasive evidence of a green certificate purchase arrangement with the buyer exists, green certificates have been delivered to the buyer, the price of total green certificates sold is fixed or determinable and the collectability of the resulting receivable is reasonably assured.

Value added tax (“VAT”)

Value added tax (“VAT”) at differentiated rates on invoice amount is collected on behalf of tax authorities in respect of the different types of revenues and is not recorded as revenue. VAT paid for purchases, net of VAT collected from customers, is recorded as an asset.

(t) Deferred project revenue

Deferred project revenue was $20,791,918 and nil on December 31, 2017 and 2018, respectively, and mainly represented customer payments received or customer billings made under the terms of solar power project related sales contracts for which revenue recognition for real estate transactions have not yet been met. The associated solar power project related costs are included as deferred project costs. The Company classifies such amounts as current or noncurrent depending on when all revenue recognition criteria are expected to be met, consistent with the classification of the associated deferred project costs.

(u) Other operating income (expenses)

Other operating income (expenses) primarily consists of discount charges of long-term receivables, compensation income and expenses, and disposal loss of projects assets.

(v) Foreign currency

The functional currency of ReneSola Ltd is the United States Dollar (“U.S. dollar”). The functional currency of ReneSola’s subsidiaries in the PRC is Renminbi (“RMB”). The functional currency of the overseas subsidiaries normally is the local currency the subsidiary domiciles.

Foreign currency transactions have been translated into the functional currency at the exchange rates prevailing on the date of transactions. Foreign currency denominated monetary assets and liabilities are remeasured into the functional currency at exchange rates prevailing on the balance sheet date. Exchange gains and losses have been included in the determination of net income.

The Company has chosen the U.S. dollar as its reporting currency. Assets and liabilities have been translated using exchange rates prevailing on the balance sheet date. Income statement items have been translated using the weighted average exchange rate for the year. Translation adjustments have been reported as a component of other comprehensive income in the statement of comprehensive income.

The RMB is not a freely convertible currency. The PRC State Administration for Foreign Exchange, under the authority of the People’s Bank of China, controls the conversion of RMB into foreign currencies. The value of the RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China foreign exchange trading system market. The Company’s cash, cash equivalents and restricted cash denominated in RMB amounted to RMB19,626,332 ($3,016,508) and RMB27,969,872 ($4,068,050) on December 31, 2017 and 2018, respectively.

(w) Fair value of financial instruments

Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (also referred to as an exit price). The Company utilizes a hierarchy for inputs used in measuring fair value that gives the highest priority to observable inputs and the lowest priority to unobservable inputs. Valuation techniques used to measure fair value shall maximize the use of observable inputs.

When available, the Company measures the fair value of financial instruments based on quoted market prices in active markets, valuation techniques that use observable market-based inputs or unobservable inputs that are corroborated by market data. Pricing information the Company obtains from third parties is internally validated for reasonableness prior to use in the consolidated financial statements. When observable market prices are not readily available, the Company generally estimates the fair value using valuation techniques that rely on alternate market data or inputs that are generally less readily observable from objective sources and are estimated based on pertinent information available at the time of the applicable reporting periods. In certain cases, fair values are not subject to precise quantification or verification and may fluctuate as economic and market factors vary and the Company’s evaluation of those factors changes. Although the Company uses its best judgment in estimating the fair value of these financial instruments, there are inherent limitations in any estimation technique. In these cases, a minor change in an assumption could result in a significant change in its estimate of fair value, thereby increasing or decreasing the amounts of the Company’s consolidated assets, liabilities, equity and net income or loss. See Note 8, “Fair Value Measurements,” for further details.

(x) Earnings (loss) per share

Basic earnings (loss) per share is computed by dividing income attributable to holders of common shares by the weighted average number of common shares outstanding during the year. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common shares were exercised or converted into common shares.

(y) Share-based compensation

The Company recognizes expenses for services received in exchange for awards of equity instruments based on the grant-date fair value of the award as determined by the Black-Scholes option pricing model, net of estimated forfeitures. The estimated compensation cost is recognized ratably over the period the grantee is required to provide services per the conditions of the award.

For stock option modifications, the Company measures the incremental compensation cost which should be measured as the excess, if any, of the fair value of the modified award determined over the fair value of the original award immediately before its terms are modified, which is measured based on the share price and other pertinent factors at that date.

On January 1, 2018 and April 1, 2018, the Board of Directors of the Company approved two option modifications to reduce the exercise price. Pursuant to the option agreement entered with the optionees, options totaling 3,220,000 were cancelled and options totaling 3,300,000 were granted. The cancellation and replacement of the options shall be considered as an option modification. Subject to ASC 718-20-35, total compensation cost measured at the date of a cancellation and replacement shall be the portion of the grant-date fair value of the original award for which the requisite service is expected to be rendered (or has already been rendered) at the date plus the incremental cost resulting from the cancellation and replacement. The incremental compensation cost should be recognized prospectively over the remaining service period in addition to unrecognized compensation cost for original option.

See Note 14, “Share Based Compensation”, for further details.

(z) Comprehensive income (loss)

Comprehensive income (loss) is the change in equity during a period from transactions and other events and circumstances from non-shareholder sources and included net income and foreign currency translation adjustments. As of December 31, 2017 and 2018, accumulated other comprehensive income is composed of foreign currency translation adjustments.

(aa) Treasury stock

On September 23, 2015, the Company’s Board of Directors authorized the Company to repurchase up to $20 million of its ADSs, each representing its ten ordinary shares (Note in February 2017, the Company changed the number of the Company’s shares represented by each American Depositary Share (“ADS”) from two (2) shares to ten (10) shares) in aggregate value of its outstanding ordinary shares through open market or private transactions during the twelve months period ending in September, 2016, depending on market condition.

In the year ended December 31, 2015, the Company repurchased an aggregate of 161,477 ADSs, representing 1,614,776 ordinary shares, on the open market for total cash consideration of $812,184 as treasury stock. As of December 31, 2015 the Company cancelled all the treasury stock.

In September 2016, the Company’s Board of Directors decided to extend the share repurchase program for another 12 months ending September 2017.

In the year ended December 31, 2016, the Company repurchased an aggregate of 280,429 ADSs, representing 2,804,286 ordinary shares, on the open market for total cash consideration of $1,493,352 as treasury stock.

As of December 31, 2016, the Company had cancelled 1,352,586 of the treasury stock from the 2016 repurchase and in 2017 cancelled the remaining 1,451,700 shares of the treasury stock. There was no outstanding treasury stock as of December 31, 2017 and 2018.

(ab) Concentrations of credit risk

Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents, accounts receivable, advances to suppliers and other receivables. The Company places its cash and cash equivalents with reputable financial institutions. The Company conducts credit evaluations of customers and generally does not require collateral or other security from its customers. The Company establishes an allowance for doubtful receivables mainly based on the age of receivables and factors surrounding the credit risk of specific customers.

(ac) Recently adopted accounting pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, “Revenue - Revenue from Contracts with Customers,” as a new Topic, ASC 606. Further, in March 2016, the FASB issued ASU No. 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” which clarifies the implementation guidance on principal versus agent considerations. On January 1, 2018, the Company adopted the new accounting standard ASC 606, Revenue from Contracts with Customers and all the related amendments (“new revenue standard”) to all contracts using the modified retrospective method. The new standard requires the Company to recognize revenue when a customer obtains control rather than when it has transferred substantially all risks and rewards of a good or service and requires expanded disclosures. ASC 606 superseded the real estate sales guidance under ASC 360-20.

The Company has completed a detailed review of revenue contracts representative of its business segments and its revenue streams as of the adoption date. As a result of the evaluation performed, the Company has determined that the timing and amount of revenue that it recognizes on certain contracts is affected by the adoption of the new standard. These adjustments are primarily related to the change in recognition of solar power projects development.

Under the modified retrospective method, the Company recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of retained earnings. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Company does not expect the adoption of the new revenue standard to have a material impact to its net income and material change in timing of recognition of revenue on an ongoing basis.

The cumulative effect of the changes made to its January 1, 2018 consolidated balance sheet for the adoption of ASU 2016-08, “Revenue - Revenue from Contracts with Customers” was as follows:

	Balance at			Adjustments Due to			Balance at
	December 31, 2017			ASC 606			January 1, 2018
Assets
Accounts receivable, net of allowances for doubtful accounts	$	23,312,086		$	7,079,477		$	30,391,563
Project assets current		76,556,400			(400,642	)		76,155,758
Contract costs		12,668,709			(5,808,850	)		6,859,859
Liabilities and Shareholders’ Equity
Accumulated deficit	$	(435,517,610	)	$	869,985		$	(434,647,625	)

There is no cumulative effect of the changes made to its December 31, 2018 consolidated balance sheet for the adoption of ASU 2016-08, “Revenue - Revenue from Contracts with Customers”.

In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on its consolidated statements of operation and comprehensive income was as follows:

	Year ended December 31, 2018
	As			Balances Without			Effect of
	reported			Adoption of ASC 606			Change
Net revenue:
Solar power projects development	$	48,784,766		$	55,864,243		$	(7,079,477	)
Electricity generation revenue		29,257,928			29,257,928			-
EPC services		18,544,164			18,544,164			-
Others		319,477			319,477			-
Cost of revenue	$	(68,836,588	)	$	(75,046,080	)	$	6,209,492
Gross profit		28,069,747			28,939,732			(869,985	)
Income from operations		15,531,888			16,401,873			(869,985	)
Net income		5,096,480			5,966,465			(869,985	)
Net income attributed to ReneSola Ltd		1,759,711			2,629,696			(869,985	)
Basic income attributed to ReneSola Ltd per share		0.00			0.01			(0.01	)
Diluted income attributed to ReneSola Ltd per share		0.00			0.01			(0.01	)

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows – Restricted Cash (Topic 230), which amends ASC 230 to add or clarify guidance on the classification and presentation of restricted cash in the statement of cash flows. The ASU is effective for annual and interim periods beginning after December 15, 2017 and the standard should be applied to each period presented using a retrospective transition method. The Company has adopted the standard in 2018 and the change in restricted cash is no longer presented as an investing activity in the consolidated statement of cash flows.

In January 2017, the FASB issued ASU 2017–01 Clarifying the Definition of a Business, which revises the definition of a business and provides guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The guidance is effective for the fiscal year, and interim periods within that fiscal year, beginning after December 15, 2017. The Company adopted the provisions of ASU 2017–01 as of January 1, 2018. There was no material impact on the Company's consolidated financial statements resulting from the adoption of this guidance.

(ad) Recently issued accounting pronouncements

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), as part of a joint project with the International Accounting Standards Board to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. To satisfy the foregoing objective, the FASB is creating Topic 842, Leases, which supersedes Topic 840. Under the new guidance, a lessee will be required to recognize right-of-use (“ROU”) assets and lease liabilities for capital and operating leases with lease terms of more than 12 months. Additionally, this ASU will require disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases, including qualitative and quantitative requirements. The effective date of the new standard for public companies is for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted. In July 2018, the FASB issued amendments in ASU 2018-11, which provide a transition election to not restate comparative periods for the effects of applying the new standard. This transition election permits entities to change the date of initial application to the beginning of the earliest comparative period presented, or retrospectively at the beginning of the period of adoption through a cumulative-effect adjustment. The Company will adopt Topic 842 effective January 1, 2019 and has elected to apply the standard retrospectively at the beginning of the period of adoption through a cumulative-effect adjustment. The Company anticipates that the adoption of Topic 842 will have a material impact on the Company’s consolidated balance sheets, but will not have a material impact on its consolidated statements of operations nor to cash from or used in operating, financing, or investing on the Company’s consolidated cash flow statements. Based on the Company's current portfolio of leases, approximately

$30 to $40 million of ROU assets and $30 to $40

million lease liabilities would be recognized on its balance sheet on January 1, 2019.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326), to provide financial statement users with more useful information about expected credit losses. ASU 2016-13 also changes how entities measure credit losses on financial instruments and the timing of when such losses are recorded. ASU 2016-13 is effective for fiscal years and interim periods within those years beginning after December 15, 2019, and early adoption is permitted for periods beginning after December 15, 2018. We are currently evaluating the impact ASU 2016-13 will have on our consolidated financial statements and associated disclosures.

In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815) – Targeted Improvements to Accounting for Hedging Activities, to simplify certain aspects of hedge accounting for both non-financial and financial risks and better align the recognition and measurement of hedge results with an entity’s risk management activities. ASU 2017-12 also amends certain presentation and disclosure requirements for hedging activities and changes how an entity assesses hedge effectiveness. ASU 2017-12 is effective for fiscal years and interim periods within those years beginning after December 15, 2018, and early adoption is permitted. We are currently evaluating the impact ASU 2017-12 will have on our consolidated financial statements and associated disclosures.

In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220) – Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, to allow entities to reclassify the income tax effects resulting from the Tax Cuts and Jobs Act (the “Act”) on items within accumulated other comprehensive income to retained earnings. ASU 2018-02 is effective for fiscal years and interim periods within those years beginning after December 15, 2018, and early adoption is permitted. We are currently evaluating the impact ASU 2018-02 will have on our consolidated financial statements and associated disclosures.

In June 2018, the FASB issued ASU 2018-07 Compensation-Stock Compensation (Topic 718), to simplify the accounting for share–based payments granted to nonemployees by aligning the accounting with the requirements for employee share–based compensation. ASU 2018-07 is effective for the Company beginning in fiscal 2019, including interim periods within that fiscal year. Early adoption is permitted but no earlier than a company's adoption of ASC 606. We do not expect the adoption of ASU 2018-07 to have a significant impact on our consolidated financial statements and associated disclosures.

In August 2018, the FASB issued ASU 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. ASU 2018-13 removes the requirement to disclose: the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy; the policy for timing of transfers between levels; and the valuation processes for Level 3 fair value measurements. ASU 2018-13 requires disclosure of changes in unrealized gains and losses for the period included in other comprehensive income (loss) for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted. We are currently evaluating ASU 2018-13 to determine the impact it will have on our

disclosures.

DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

3. DISCONTINUED OPERATIONS

On September 25, 2017, the Company completed a share repurchase and subscription agreement (the “SPA”) with Mr. Xianshou Li, the Company’s Chairman and Chief Executive Officer (the “Buyer”) for the sale of the Company’s manufacturing (including polysilicon, solar wafer, solar cell and solar module manufacturing) and LED distribution businesses. The transaction also transferred substantially all of the group of ReneSola Ltd and its subsidiaries (collectively, the “Group”)’s related indebtedness to Li. The transaction resulted in:

The Company was no longer be liable for the bank borrowings approximating RMB3 billion ($461 million) which was assumed by the Buyer as part of the net assets of discontinued operations as of the disposal date;

The Buyer forgave approximately $217.4 million of intercompany payables owed to it by the Company; and

The Company issued 180 million ordinary shares (“18 million ADS”) with a fair value of approximately $42.5 million to ReneSola Singapore Pte. Ltd., an entity to be fully owned by the Buyer upon completion.

Results of operations related to the discontinued businesses, including comparatives, were reported as loss from discontinued operations.

A reconciliation of disposal gain is presented as follows.

Reconciliation of disposal gain:

Item	Amount in US$ million
Waiver of the Company’s payable to the Buyer of the discontinued operations		217.4
Fair value of shares issued to the Buyer		(42.5	)
Net assets of discontinued operations as of the disposal date		(133.6	)
Release of currency translation difference due to discontinued operations		65.0
Disposal gain		106.3

Results of the discontinued operations

				January 1 – September 30
	2016			2017

Revenues	$	849,331,555		$	472,568,586
Cost of revenues		(747,068,354	)		(457,058,538	)

Gross profit		102,263,201			15,510,048

Operating (expenses)/income:
Selling and marketing		(46,914,631	)		(24,259,869	)
General and administrative		(44,629,891	)		(32,341,022	)
Research and development		(27,286,652	)		(14,715,027	)
Other income		3,771,645			8,776,633
Impairment loss of assets		(4,624,979	)		-
Total operating expenses		(119,684,508	)		(62,539,285	)

Loss from operations		(17,421,307	)		(47,029,237	)

Interest income		2,349,791			1,144,135
Interest expenses		(32,097,477	)		(25,518,288	)
Exchange (loss)/gain		9,945,642			(7,095,061	)
Gain/(loss) on derivatives		4,592,125			(1,284,379	)
Loss from discontinued operations before income taxes		(32,631,226	)		(79,782,830	)
Income tax (expense)/benefit, net		(2,161,507	)		4,748,324

Loss from discontinued operations, net of tax	$	(34,792,733	)	$	(75,034,506	)

ACCOUNTS RECEIVABLE, NET

12 Months Ended

Dec. 31, 2018

Receivables [Abstract]

ACCOUNTS RECEIVABLE, NET

4. ACCOUNTS RECEIVABLE, NET

	At December 31,
	2017		2018
Accounts receivable
– from EPC services (billed)	$	7,091,310	$	9,078,144
– from EPC services (unbilled)		1,835,203		526,848
– from solar power project assets (1)		7,124,003		7,045,546
– from electricity generation revenue (2)		7,184,721		17,832,924
– others		76,849		-

Allowance for doubtful accounts		-		-
Accounts receivable, net	$	23,312,086	$	34,483,462

(1)

As of December 31, 2018,

receivables by post-dated checks were

$9,034,526 and date of acceptance were from May 31, 2019 to November 30, 2021. Whereas $3,215,926 were classified as current and recorded in accounts receivable from solar power project assets and $5,818,600 were classified as non-current and recorded in other non-current assets.

The non-current accounts receivable was discounted and interest income will be recognized over the discount period accordingly.

(2)

Accounts receivable from electricity generation

revenue

includes the receivables from the sales of green certificates.

ALLOWANCES FOR DOUBTFUL RECEIVABLES

The Company establishes an allowance for doubtful accounts primarily based on factors surrounding the credit risk of specific customers.

The Company did not provide an allowance for doubtful debts during the years ended December 31, 2016, 2017 or 2018.

As of December 31, 2017, no individual customer has greater than 10% of the accounts receivable. As of December 31, 2018, receivables from an EPC services customer amounted to $6,036,988 (17%), which is greater than 10% of the account balances.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

PREPAID EXPENSES AND OTHER CURRENT ASSETS

12 Months Ended

Dec. 31, 2018

Prepaid Expense and Other Assets, Current [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

5. PREPAID EXPENSES AND OTHER CURRENT ASSETS

	At December 31,
	2017		2018

Refundable deposits (1)	$	7,927,825	$	12,082,372
Prepaid rental fees (2)		1,652,826		954,969
EPC Warranty reimbursement receivables		132,007		186,553
Others		830,164		1,094,182

Total prepaid expenses and other current assets	$	10,542,822	$	14,318,076

(1)

As of December 31, 2018, refundable deposits mainly represented refundable deposits for

interconnection and for

the bidding of the project asset construction rights.

(2)

As of December 31, 2018, prepaid rental fees mainly represented rooftop rental payments for solar power projects due within one year.

PROJECT ASSETS AND DEFERRED PROJECT COSTS

12 Months Ended

Dec. 31, 2018

PROJECT ASSETS, CONTRACT COSTS AND DEFERRED PROJECT COSTS [Abstract]

PROJECT ASSETS AND DEFERRED PROJECT COSTS

6. PROJECT ASSETS AND DEFERRED PROJECT COSTS

Project assets and deferred project costs consisted of the following at December 31, 2017 and 2018, respectively:

	At December 31,
	2017		2018
Project assets - Module cost	$	16,369,965	$	29,612,819
Project assets - Development and construction cost		61,259,796		71,316,605
Project assets - Others		6,407,213		7,409,941
Total project assets		84,036,974		108,339,365

Current portion		76,556,400		64,257,766
Non-current portion		7,480,574		44,081,599

Total deferred project costs		17,957,041		-

Current portion		17,957,041		-
Non-current portion		-		-

Total project assets and deferred project costs	$	101,994,015	$	108,339,365

PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

7. PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net, comprise:

	At December 31,
	2017			2018
Land	$	282,000		$	282,000
Plant and machinery		1,097,710			789,931
Motor vehicles		50,971			183,664
Office equipment		39,247			102,326
Power stations		125,753,462			194,931,540

Less: Accumulated depreciation		(8,388,858	)		(16,215,671	)
		118,834,532			180,073,790
Construction in progress		35,824,545			10,713,472
Property, plant and equipment, net	$	154,659,077		$	190,787,262

Construction in progress mainly represents new solar power projects for self-electricity generation in China.

All power stations were self-constructed for electricity generation purpose.

Depreciation expense for the years ended December 31, 2016, 2017 and 2018 was $2,400,522, $4,475,823 and $8,402,169 respectively.

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

8. FAIR VALUE MEASUREMENTS

The Company adopted ASC 820, “Fair Value Measurements and Disclosures”, which provides a framework for measuring fair value under U.S. GAAP, and expanded disclosure requirements about assets and liabilities measured at fair value. The Company utilizes a hierarchy for inputs used in measuring fair value that gives the highest priority to observable inputs and the lowest priority to unobservable inputs as follows:

•

Level 1-Observable unadjusted quoted prices in active markets for identical assets or liabilities.

•

Level 2-Observable inputs other than quoted prices in active markets for identical assets or liabilities, for which all significant inputs are observable, either directly or indirectly.

•

Level 3-Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.

Recurring basis

As of December 31, 2017 and December 31, 2018, there are no assets and liabilities measured on the Company’s consolidated balance sheet at fair value on a recurring basis subsequent to initial recognition.

Non-recurring basis

The carrying amount of long-term borrowing and liabilities approximates their fair value as the related interest rates approximate rates currently offered by financial institutions for similar debt instruments of comparable maturities.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

INCOME TAXES

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

INCOME TAXES

9. INCOME TAXES

The Company and its subsidiaries file separate income tax returns.

British Virgin Islands

Under the current laws of the British Virgin Islands (“BVI”), the Company’s subsidiary in BVI is not subject to tax on its income or capital gains. In addition, upon any payment of dividends by the Company, no British Virgin Islands withholding tax is imposed.

People’s Republic of China

On March 16, 2007, the National People’s Congress approved the Corporate Income Tax Law of the People’s Republic of China (the “CIT Law”) with effective on January 1, 2008. The CIT Law enacted a statutory income tax rate of

25%.

Pursuant to PRC tax laws, certain subsidiaries of the Company are solar power generation enterprises, which are entitled to a three-year tax exemption from PRC Corporate Income Tax (“PRC CIT”) from first operation year and a 50% PRC CIT reduction for the succeeding three years thereafter.

United States

ReneSola US is incorporated in California, the United States. It is subject to a federal corporate income tax rate of 35% for 2016 and 2017, and is subject to a federal corporate income tax rate of 21% for 2018, effective from January 1, 2018 under the 2017 Tax Cuts and Jobs Act, and is subject to California state income tax of 8.84%, and Connecticut state income tax of 7.5%, which is deductible for federal corporate income tax purpose.

The tax expense from continuing operations comprises:

	Years ended December 31,
	2016			2017			2018
Income (Loss) before income tax
PRC	$	(69,465	)	$	2,938,038		$	10,535,785
Other jurisdictions		296,039			583,861			(5,628,096	)

Total		226,574			3,521,899			4,907,689

Current tax expense
PRC		-			(11,926	)		(553,859	)
Other jurisdictions		(283,829	)		(222,094	)		(351,735	)

Subtotal		(283,829	)		(234,020	)		(905,594	)
Deferred tax benefit (expense)		-
PRC		-			1,402			748,490
Other jurisdictions		151,737			(89,450	)		345,895

Subtotal		151,737			(88,048	)		1,094,385

Total income tax benefit (expense)	$	(132,092	)	$	(322,068	)	$	188,791

There were no reversals or additions of unrecognized tax benefits during the year ended December 31, 2016, 2017 and 2018, respectively.

The Company classifies interest and penalties related to income tax matters in income tax expense. As of December 31, 2017 and 2018, there were no interest and penalties related to uncertain tax positions. As of December 31, 2017 and 2018, there was no accrual of uncertain tax benefits recognized by the Company. The Company does not anticipate significant increases or decreases to its liabilities for unrecognized tax benefits within the next twelve months.

According to the PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer. The statute of limitations will be extended to five years under special circumstances, which are not clearly defined, but an underpayment of taxes exceeding RMB100,000 (approximately $15,060) is specifically listed as a special circumstance. In the case of a transfer pricing related adjustment, the statute of limitations is ten years. There is no statute of limitations in the case of tax evasion.

The principal components of deferred income tax assets and liabilities are as follows:

	At December 31,
	2017			2018
Deferred tax assets:
Accrued expenses	$	6,254		$	10,632
Net operating losses		3,234,651			5,513,847
Unrealized internal profit		-			1,094,217
Other		55,282			27,990
Total gross deferred tax assets		3,296,187			6,646,686
Valuation allowance on deferred tax assets		(3,236,889	)		(5,535,214	)
Net deferred tax assets	$	59,298		$	1,111,472

As of December 31, 2018, the subsidiaries of the Company in PRC had net operating loss carry forwards of $1,359,934, of which $154,272, $1,033,152 and $172,510 will expire in 2021, 2022 and 2023 respectively.

The Company considers positive and negative evidence to determine whether some portion or all of the deferred tax assets will not be realized. This assessment considers, among other matters, the nature, frequency and severity of recent losses, forecasts of future profitability, the duration of statutory carry forward periods, the Company’s experience with tax attributes expiring unused and tax planning alternatives.

The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible for tax purposes. As a result, the Company has recognized a valuation allowance of $3,236,889 and $5,535,214 as at December 31, 2017 and 2018, respectively.

Reconciliation between the applicable statutory income tax rate and the Company’s effective tax rate for the years ended December 31, 2016, 2017 and 2018 is as follows:

	Year ended December 31,
	2016			2017			2018
PRC applicable income tax rate		25	%		25	%		25	%
Change in deferred tax valuation allowance		26	%		(3	)%		47	%
Preferential tax rate (1)		-			(24	)%		(53	)%
Effect of different tax rate of subsidiaries		20	%		(4	)%		(7	)%
Other		(13	)%		(4	)%		(16	)%
Effective income tax rate		58	%		(10	)%		(4	)%

The following table sets forth the effect of preferential tax on China operations for the years ended December 31 2016, 2017 and 2018, respectively:

	Year ended December 31,
	2016		2017		2018

Preferential tax effect (1)	$	-	$	845,010	$	2,609,975
Basic earnings per share from continuing operations effect - decrease		-		-		-
Diluted earnings per share from continuing operations effect - decrease	$	-	$	-	$	-

(1)

Certain solar power project entities are fully exempted from PRC CIT for three years starting from the year in which such project generates revenue from the sale of electricity, and is 50% exempted from PRC CIT for another three years. In addition, certain solar power project entities in the western region of China enjoy preferential tax policies and are subject to a preferential tax rate of 15%.

BORROWINGS AND OTHER FINANCING ARRANGEMENTS

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

BORROWINGS AND OTHER FINANCING ARRANGEMENTS

10. BORROWINGS AND OTHER FINANCING ARRANGEMENTS

a) Borrowings from banks and other third parties

The Company’s borrowings from banks and other third parties consist of the following:

	At December 31,
	2017		2018
Short-term	$	6,605,894	$	3,368,272
Long-term, current portion		-		41,096,243
Subtotal		6,605,894		44,464,515
Long-term		32,513,900		41,435,099
Total borrowings from bank and other third parties	$	39,119,794	$	85,899,614

As of December 31, 2017, short-term borrowings of $6,605,894 and long-term borrowings of $32,513,900 were jointly guaranteed by the Company and its two subsidiaries. The short-term borrowings of $6,605,894

were also pledged by all the shares or ownership interests of the Company, and project assets owned with carrying value equivalent to

130% of the principal.

As of December 31, 2018, short-term borrowings of $3,368,272 and long-term borrowings of $82,531,342, including current portion of $41,096,243 were jointly guaranteed by the Company and its subsidiaries.

The short-term borrowings of $3,368,272

were also secured by all of the Company’s estate, right, title and interest and pledged by the shares or ownership interests of the Company and its subsidiaries, accounts receivable and VAT account of the Company and its subsidiaries. The long-term borrowings of

$82,531,342,

including current portion of

$41,096,243

were also secured and pledged by all the shares or ownership interests of the Company, accounts and accounts receivable of the Company, and insurance of the Company.

Long-term borrowings contain restrictive covenants, including requirements obliging the Company to (i) obtain lender’s prior approval before entering into any transaction over certain amount after the completion of the construction and commencement of operation of the relevant project assets, (ii) obtain lender’s prior consent before opening any bank account other than the existing bank account with the lender, (iii) ensure that at least one director designated by the lender be appointed as a director of the operating entity of the relevant project assets and/or the Company, (iv) comply with certain financial ratios, such as debt-service coverage ratio and loan life coverage ratio. As of December 31, 2018, the Company was in compliance with all debt covenants under its outstanding long-term financings.

i) Short-term

Interest rates are fixed for the short-term borrowings as of December 31, 2017 and 2018. The weighted average interest rate of short term loans in the years ended December 31, 2017 and 2018 were 6.00% and 6.57%. The borrowings are repayable within one year.

ii) Long-term

In March 2013, the Company’s Korean subsidiaries obtained two four-year term loans from a lender in Korea totaling Korean Won

35.7 billion ($32.1 million) to be repaid in March 2017. In 2017, the subsidiaries extended the maturity date by three years to March 2020. The proceeds from these loans were to be used to finance the Company’s PV plant projects in Romania. The balance of the loan as of December 31, 2018 was Korean Won 32.7 billion ($29.4 million).

The Company’s Polish subsidiary has been provided a line of credit by a lender in Poland. In December 2017, the Company’s Polish subsidiary obtained a long-term loan under such line of credit covering construction and operational period of Polish PV plant projects from the lender in Poland totaling Euro

15.3 million ($17.5

million). In June 2018, the Company’s Polish subsidiaries obtained another long-term loan under such line of credit covering construction and operational period of Polish PV plant projects from the same lender in Poland totaling Euro

36.1 million ($41.3 million). As of December 31, 2018, the utilized amount was PLN 152.7 million ($40.7 million). The maturity date of the loan is December 7, 2019 and was recognized as current portion. The proceeds from these loans were to be used to finance the Company’s PV plant projects in Poland.

In April 2018, the Company’s US subsidiary, obtained a development loan from a U.S. lender to complete development on roughly 31MW of Minnesota based projects, and granted a security interest in the projects (including previously made program and interconnection deposits made to the Utility). This development loan is expected to be repaid on a per project basis when each project is sold or cancelled. The maturity date of the loan is April 30, 2020. The loan was secured by the ownership interests in the project companies and interconnection deposits, and ReneSola Ltd, the parent company of the US subsidiary, has subordinated its inter-company debt to the loan. The balance of the loan as of December 31, 2018 was $5.7 million.

The Company’s Hungarian subsidiaries have been provided a line of credit by a lender in Hungary. In August 2018, the Company’s Hungarian subsidiaries obtained a long-term loan under such line of credit covering construction and operational period of Hungarian PV plant projects 7MW portfolio from the lender in Hungary totaling Hungarian Forint

2.2 billion ($7.8 million). As of December 31, 2018, the utilized amount was Hungarian Forint 1.9 million ($6.8 million) including the current portion of $0.4 million. The maturity date of the loan is earlier of 15th anniversary from commercial operation date (“COD”) or December 31, 2033. The proceeds from these loans were to be used to finance the Company’s PV plant projects in Hungary.

Interest rates are fixed for the above long-term bank loans. The weighted average interest rate of long-term borrowings was 6.80%, 5.80% and 5.86% in the years ended December 31, 2016, 2017 and 2018, respectively.

All the principals of the long-term bank loans should be repaid in 2033 as illustrated in the table below:

2019	$	41,096,243
2020		35,471,022
2021		423,050
2022		439,972
2023		457,571
2024 and after	$	4,643,484

b) Financings associated with failed sale-lease back transactions

In 2017 and 2018, certain subsidiaries of the Company (“seller-lessee”) sold material of self-built solar projects (“leased assets”) with carrying amount of $33,753,639 and $23,474,319 to different domestic financial leasing companies (“buyer-lessors”) for cash consideration of $39,535,563 and $24,876,650 and simultaneously entered into the contracts to lease back the leased assets from the buyer-lessors for 4 to 10 years. These arrangements are guaranteed by other subsidiaries of the Company and also pledged by the shares and rights for the future power generation income of the seller-lessee. Pursuant to the terms of the agreements, seller-lessee is required to pay to the buyer-lessors lease payment over the lease period and is entitled to obtain the ownership of this equipment at a nominal price upon the expiration of the lease.

As the leased assets are considered integral with real estate under ASC 360, the sale-leaseback rules related to real estate are applied. The lease transactions do not qualify as a sale-leaseback transaction as these solar projects are initially invested and build up by seller-lessee with expected useful life of 25 years, and are continuingly maintained by seller-lessee. Seller-lessee has an obligation to repurchase the leased assets upon the expiry of the lease. In addition, after the lease period, seller-lessee will keep using the assets and has no plans to sell or early-disposal.

Accordingly, these transactions are accounted for as financing transactions in accordance with ASC 840. Internal rate of return is used in the computation of interest cost. The assets remain in the property, plant and equipment (“PPE”) and continue to be depreciated.

As of December 31, 2017 and 2018, the Company recorded $38,575,716 and $48,748,462 under failed sale and lease back liabilities and $1,638,904 and $7,275,464 as current portion which represents principal to be paid in the next year. The weighted average effective interest rate of the financing was 6.07% and 6.53% and interest costs incurred during the year ended December 31, 2017 and 2018 were $836,959 and $4,617,129, respectively. These sale-leaseback financings were collateralized by material of solar projects.

c) Capital lease

In 2017 and 2018, the Company leased module, inverter and other materials from different domestic financial leasing companies. Pursuant to the terms of the contract, the Company is required to pay to the finance lease companies lease payments and is entitled to obtain the ownership of these machinery and equipment at a nominal price upon the expiration of the lease. These arrangements are guaranteed by other subsidiaries of the Company and also pledged by the shares and rights for the future power generation income of the leases. The lease is classified as capital lease. As of December 31, 2017 and 2018, the carrying amount of the material related to this capital lease contract is $32,994,934 and $46,411,683, and is included in PPE that is being depreciated over lives of 25 years and the payable related to this contract is $29,298,799 and $34,130,495.

As of December 31, 2017 and 2018, the net values of the leased assets are:

	As of December 31,
	2017		2018

Modules, inverters and etc.	$	32,994,934	$	46,411,683

As of December 31, 2018, future minimum payments required under the capital lease are:

	USD
Year ended December 31,
2019	$	6,847,137
2020		8,007,305
2021		8,069,877
2022		8,000,827
2023		6,753,612
2024 and later		5,489,073
Total minimum lease payments		43,167,831
Less: Amount representing interest		(9,037,336	)
Present value of net minimum lease payments		34,130,495
Current portion		5,004,187
Non-current portion	$	29,126,308

	At December 31,
	2017		2018
Non-current portion for capital lease	$	28,929,753	$	29,126,308
Non-current portion for failed sale and lease back	$	38,575,716	$	48,748,462
Total failed sale-lease back and capital lease liabilities		67,505,469		77,874,770

d) Interest expense

Interest expense incurred for the years ended December 31, 2016, 2017 and 2018 were $1,842,227, $

4,045,277 and $11,578,848,

of which nil,

$108,975 and $2,874,944 has been capitalized in the carrying value of PPE and project assets.

OTHER CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2018

Other Liabilities Disclosure [Abstract]

OTHER CURRENT LIABILITIES

11. OTHER CURRENT LIABILITIES

The Company’s other current liabilities are summarized below:

	At December 31,
	2017		2018
Payable for purchase of property, plant and equipment	$	25,562,367	$	36,680,431
Payable for lease fee of rooftops		2,117,606		-
Payables associated with failed sale-lease back–current portion		1,638,904		7,275,464
Payables associated with capital lease–current portion		369,046		5,004,187
Interest payable		-		1,626,010
Other tax payables		229,361		141,317
Accrued EPC warranty liabilities		132,007		186,553
Other (1)		464,944		1,834,945
	$	30,514,235	$	52,748,907

(1) Other as of December 31, 2018 mainly includes the payables for the audit fee and other professional service fees.

CONVERTIBLE SENIOR NOTES

12 Months Ended

Dec. 31, 2018

CONVERTIBLE SENIOR NOTES [Abstract]

CONVERTIBLE SENIOR NOTES

12. CONVERTIBLE SENIOR NOTES

On March 15, 2011, the Company issued $175,000,000 of U.S. Dollar-Settled 4.125% Convertible Senior Notes (“Notes”) due March 15, 2018, which are convertible into American Depositary Shares (the “ADSs”), each currently representing two ordinary shares of the Company. On April 7, 2011, an over-allotment option up to $25,000,000 aggregate principal amount of Notes were fully exercised by initial purchasers. The key terms of the Notes are as follows:

Interest

: The Notes bear interest at the rate of 4.125% per annum, payable semi-annually in arrears on March 15 and September 15.

Redemption at maturity

: Each Note may be redeemed upon maturity at a price of 100% of principal amount plus accrued interest, if any, from March 15, 2016.

Conversion.

The Notes may be converted into ADSs at the option of the holders at any time prior to maturity. The conversion price is initially $10.5473 per ADS and is subject to adjustment upon the occurrence of specified events but will not be adjusted for accrued and unpaid interest, if any. Based on the conversion price of $10.5473 per ADS, the number of ADSs to be allotted and issued by the Company on full conversion of the Notes will be approximately 2,478,833 as of December 31, 2015.

Put Options

. The holders have the option to require the Company to redeem all or any portion of the Notes on March 15, 2016 (the “repurchase date”), at a repurchase price equal to 100% of the principal amount plus any accrued and unpaid interest, if any, to, but excluding the repurchase date.

No beneficial conversion feature charge was recognized for the issuance of the Notes as the estimated fair value of the ordinary shares was less than the conversion price on the date of issuance.

The embedded conversion option and put options are not bifurcated and recognized as derivatives.

Capped call transaction.

In connection with the pricing of the Notes, the Company has entered into a capped call transaction with an affiliate of one of the initial purchasers of the Notes (the “hedge counterparty”). The capped call transaction is expected generally to reduce potential dilution to the Company’s ordinary shares and ADSs upon conversion of the Notes. The cap price under the capped call transaction is $15.0675 per ADS, and the premium of preliminary and over-allotment option is $21,504,779 and $3,197,500, respectively. The premium was first credited to additional paid-in capital, and then to retained earnings once additional paid-in capital was reduced to zero. For the year ended December 31, 2011, approximately $88,384,000 par value Notes was repurchased using cash of $57,055,127. The related deferred issuance costs of $2,978,934 were expensed. The Company recorded a net gain of $28,349,939 on the repurchase of the Notes. As a result of the repurchase of these Notes, a portion of the premium paid in connection with the capped call facility of $861,280 was refunded.

For the year ended December 31, 2015, approximately $68,454,000 par value Notes was repurchased using cash of $54,376,600. The related deferred issuance cost of $384,131was expensed. The Company recorded a net gain of $13,693,269 on the repurchase of the Notes.

For the year ended December 31, 2016, approximately $26,145,000 par value Notes was repurchased using cash of $25,931,219. The related deferred issuance cost of $1,725 was expensed. The Company recorded a net gain of $212,056 on the repurchase of the Notes.

As of December 31, 2017 and 2018, there were no outstanding notes.

The issuance costs of $7,156,101 paid in 2011 is amortized from the date of issuance to the redemption date, using effective interest rate method. The amortization expense was $32,935, nil and nil for the years ended December 31, 2016, 2017 and 2018, respectively.

WARRANT LIABILITY

12 Months Ended

Dec. 31, 2018

WARRANT LIBILITY [Abstract]

WARRANT LIABILITY

13. WARRANT LIABILITY

In connection with the public offering of the Company’s common stock that closed on September 16, 2013, the Company issued to its underwriters, a warrant to purchase up to a total of 10,500,000 shares of common stock (35% of the shares sold in the public offering) at $30.2 per ADS (aggregate of 1,050,000 ADSs) or $3.02 per share. The option is exercisable from September 16, 2013 to September 16, 2017. There are three ways in which the Company might settle the warrant liability: i) physical delivery of Shares, ii) physical delivery of ADS (at the election of the holder) or iii) net share settlement, if unable to register the shares in the case of i and ii. Warrants are separately transferable, and the holder can choose to exercise the warrant in whole or part. The exercise price is subject to adjustment under several circumstances and also to anti-dilution adjustments. All warrants expired on September 16, 2017.

The Company accounted for the warrant as a derivative liability because the exercise price is subject to adjustment under several special circumstances, including anti-dilution clauses. As a result, the warrant is not considered indexed to the Company’s own stock, and as such, all future changes in the fair value of the option are recognized currently in earnings until such time as the warrant is exercised or expired.

On September 16, 2013, the issue date of the warrant, the Company recorded this warrant at its fair value of $12,547,500 with an offset to shareholders’ equity. The Company recognized a gain of $577,500 from the change in fair value of the warrant liability for year ended December 31, 2016.

This warrant did not trade in an active securities market, and as such, the Company estimated its fair value using the Monte Carlo Simulation as of the date that the warrant was originally issued and as of each year and reporting date using the following main assumptions.

	As December 31,
	2016
Stock price	$	3.20
Exercise price	$	30.2
Annual dividend yield		-	%
Time to maturity		0.7
Risk-free interest rate		0.70	%
Expected volatility		42.9	%

Expected volatility is based on historical volatility. Historical volatility is computed using daily pricing observations for recent periods that correspond to the term of the warrant. The Company believes this method produces an estimate that is representative of future volatility over the expected term of this warrant. The expected life is based on the remaining term of the warrant. The risk-free interest rate is based on U.S. Treasury securities with time to maturity close to the remaining term of the warrant.

SHARE BASED COMPENSATION

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

SHARE BASED COMPENSATION

14. SHARE BASED COMPENSATION

2007 Share Incentive Plan

On September 27, 2007, the Company adopted the ReneSola Ltd 2007 Share Incentive Plan (the “Plan”) that provides for grant of share options, restricted shares and restricted share units to employees in the Plan. A maximum of 7,500,000 authorized but unissued shares of the Company have been reserved and allocated to the Plan, whose shares were subsequently registered and are issuable upon exercise of outstanding options granted under the Plan. The Plan shall be administered by the Compensation Committee of the Board of Directors (the “Committee”).

Except as otherwise noted in the award agreements with the employee or consultant, the options can be exercised within six years from the award date, except for participant’s termination of employment or service. The vesting schedule and the exercise price per share will be determined by the Committee and set forth in the individual award agreement. In the event of any distribution, share split, or recapitalization of the Company, the Committee shall make such proportionate and equitable adjustments, if any, to reflect such change with respect to (a) the aggregate number and type of shares that may be issued under the Plan and (b) the terms and conditions of any outstanding awards. Except as may otherwise be provided in any award agreement, if a change of control occurs and a participant’s awards are not converted, assumed, or replaced by a successor, such awards shall become fully exercisable and all forfeiture restrictions on such awards shall lapse.

Options to Employees

From January to December 2016, the Company granted 825,000 share options to certain employees with exercise prices of $0.74. From January to December 2017, the Company granted 1,550,000 share options to certain employees with exercise prices of $0.64. From January to December 2018, the Company granted 830,000 share options to certain employees with exercise prices of $0.26.

Options Modification

On August 8, 2012, the Board of Directors approved an option modification to reduce the exercise price of all the options granted before August 8, 2012 to the then fair market value of the Company’s ordinary shares underlying such options. All other terms of the share options granted remain unchanged. The modification resulted in incremental compensation cost of $774,932, of which $444,373 was recorded during the year ended December 31, 2012. The remaining $330,559 will be amortized over the remaining vesting period of the modified options, ranging from 2013 to 2017.

On March 18, 2014, the Board of Directors approved another option modification to reduce the exercise price of certain options granted between August 8, 2012 and December 31, 2013 to the then fair market value of the Company’s ordinary shares underlying such options. All other terms of the share options granted remain unchanged. The incremental compensation cost resulted from modification was not material.

On January 1, 2018, the Board of Directors approved an option modification to reduce the exercise price of certain options granted on January 1, 2014 to the then fair market value of the Company’s ordinary shares underlying such options. The number of shares, the expected terms were changed from 350,000 to 400,000, from 5 years to 3 years, respectively, other terms of the share option granted remain unchanged. The modification resulted in incremental compensation cost of $30,396, of which $10,132 was recorded during the year ended December 31, 2018. The remaining $20,264 will be amortized over the remaining vesting period of the modified options, ranging from 2019 to 2020.

On April 1, 2018, the Board of Directors approved another option modification to reduce the exercise price of certain options granted on June 21, 2010, August 24, 2010, August 8, 2012, March 8, 2016 and August 24, 2016 to the then fair market value of the Company’s ordinary shares underlying such options. The expected terms was changed from 5 years to 3 years, other terms of the share option granted remain unchanged. The modification resulted in incremental compensation cost of $233,996, of which $58,499 was recorded during the year ended December 31, 2018. The remaining $175,497 will be amortized over the remaining vesting period of the modified options, ranging from 2019 to 2021.

The fair value of each option grant, as well as the fair value of option immediately before and after the aforementioned modification, is estimated on the date of grant or modification using the Black-Scholes option pricing model using the assumptions noted below.

	Average risk-free rate of return		Weighted average expected option life	Volatility rate		Dividend yield
Granted in 2016		1.00-1.52 %	3.2 years		119.83-146.29 %		0	%
Granted in 2017		1.93-2.00 %	3.2 years		103.04-109.89 %		0	%
Granted in 2018		2.04-2.62 %	3.2 years		51.06-56.88 %		0	%

Expected volatilities based on the average of the standard deviation of the daily stock prices of the Company and other selected comparable companies in the same industry. The expected term of options represents the period of time that options granted are expected to be outstanding. The risk-free rate of return is based on the US Treasury bond yield curve in effect at the time of grant for periods corresponding with the expected term of the option.

A summary of the option activity is as follows:

	Number of Options			Weighted Average Exercise Prices		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
Options
Outstanding on January 1, 2016		5,947,000			0.74		2.14		685,055
Granted		825,000			0.74		-		-
Exercised		-			-		-		-
Forfeited		(687,000	)		0.74		-		-
Outstanding on December 31, 2016		6,085,000			0.74		1.75		-
Granted		1,550,000			0.64		3.50		-
Exercised		-			-		-		-
Forfeited		(1,470,000	)		0.74		-		-
Outstanding on December 31, 2017		6,165,000			0.71		1.64		-
Granted		830,000			0.26		2.38		-
Exercised		-			-		-		-
Forfeited		(1,535,000	)		0.74		-		-
Outstanding on December 31, 2018		5,460,000			0.36		1.96		-
Vested or expected to vest at December 31, 2018		5,342,127			0.35		1.90		-
Exercisable at December 31, 2018		1,006,000			0.70		0.54		-

The weighted average grant date fair value of options granted during the years ended December 31, 2016, 2017 and 2018 was $0.48, $0.41 and $0.10 respectively.

Total intrinsic value of options exercised for the years ended December 31, 2017 and 2018 was nil and nil respectively. Proceeds received on exercise were nil and nil as of December 31, 2017 and 2018.

Compensation cost of $692,322, $783,118 and $406,228 has been charged against income during the year ended December 31, 2016, 2017 and 2018, respectively. As of December 31, 2018, there was $652,424 in total unrecognized compensation expense related to unvested options granted under the Plan, which is expected to be recognized over a weighted-average period of 2.43 years.

Restricted Share Units

In May 2014, the Compensation Committee of the Board of Directors of the Company approved a Restricted Share Units (“RSUs”) award program pursuant to the Plan.

A summary of the RSUs activity is as follows:

	Number of shares			Weighted Average Grant Date Fair Value
RSUs
Unvested on January 1, 2016		137,500			1.36
Granted		280,000			0.63
Vested		(137,500	)		1.36
Unvested on December 31, 2016		280,000			0.63
Granted		-			-
Vested		(140,000	)		0.63
Unvested on December 31, 2017		140,000			0.63
Granted		-			-
Vested		(140,000	)		0.63
Unvested on December 31, 2018		-			-

The RSUs are measured based on the fair market value of the underlying common stock on the dates of grant. The aggregate compensation cost for RSUs recorded under the Plan was $54,658, $ 87,500 and $32,842 for the year ended of December 31, 2016, 2017 and 2018. As of December 31, 2017 and 2018, there was $32,842 and nil in total unrecognized compensation expense related to unvested RSUs following the forfeiture. The total fair value of shares vested during the year ended December 31, 2016, 2017 and 2018 was amounting to $85,940, $39,760 and $39,200, respectively.

Share Awards to Employees of Disposed Business

Upon the disposal in September 2017 (as described in note 3), the options previously granted to the employees who were in the discontinued operations under 2017 Share Incentive Plan shall continue to be vested and exercisable.

Accordingly to ASC 718, the Company has immediately recognized all the unrecognized compensation expenses as of the disposal date related to the options previously granted to the employees in the discontinued operations under 2017 Share Incentive Plan as the employees became non-employee after the disposal. The options held by the employees in the discontinued operations from the disposal point forward would be measured at fair value according to ASC 815, Derivatives and Hedging. For the year ended December 31, 2017 and 2018, the fair value change was nil and nil as the exercise prices of the options granted were higher than the ordinary share fair value.

EMPLOYEE BENEFITS

12 Months Ended

Dec. 31, 2018

Retirement Benefits [Abstract]

EMPLOYEE BENEFITS

15. EMPLOYEE BENEFITS

In accordance with the relevant rules and regulations in the PRC, employees of the Company are covered by benefit plans established by the local government. These plans are defined contribution plans and Zhejiang ReneSola Investment Ltd. (“ReneSola Investment”), Sichuan Bo Bo Power Engineering Co., Ltd. (“Sichuan Bo Bo”) and ReneSola Shanghai Ltd (“ReneSola Shanghai”), have contributed

14%, 19% and 20% separately of the basic salaries of its employees to such plans. In addition,

ReneSola

Investment, Sichuan Bo Bo and ReneSola Shanghai are required by PRC law to contribute approximately 22%, 18% and 19.2% separately of the basic salaries of its employees for medical insurance benefits, housing funds, unemployment and other statutory benefits. Other than the contribution, there is no further obligation for payments to employees under these plans.

The total contribution was $215,981, $674,100 and $765,379 for the years ended December 31, 2016, 2017 and 2018, respectively.

DISTRIBUTION OF PROFIT AND RESTRICTED NET ASSETS

12 Months Ended

Dec. 31, 2018

Distribution Of Proft And Restricted Net Assets Disclosure [Abstract]

DISTRIBUTION OF PROFIT AND RESTRICTED NET ASSETS

16. DISTRIBUTION OF PROFIT AND RESTRICTED NET ASSETS

As stipulated by the relevant laws and regulations applicable to China’s foreign investment enterprises, the Company’s PRC subsidiaries are required to make appropriations from net income as determined under Chinese Accounting Standards (“CAS”) to non-distributable reserves, which includes a general reserve. Wholly-owned PRC subsidiaries are not required to make appropriations to the enterprise expansion reserve but appropriations to the general reserve are required to be made at not less than

10%

of the profit after tax as determined under CAS.

The general reserve is used to offset future losses. The subsidiary may, upon a resolution passed by the shareholder, convert the general reserve into capital. The reserve represents appropriations of the retained earnings determined in accordance with the Chinese law.

In addition to the general reserve, the Company’s PRC subsidiaries are required to obtain approval from the local PRC government prior to distributing any registered share capital. Accordingly, both the appropriations to general reserve and the registered share capital of the Company’s PRC subsidiaries are considered as restricted net assets amounting to $16,000,000 and $16,000,000 as of December 31, 2017 and 2018, representing 17.5% and 12.8% of the Company’s total consolidated net assets as of December 31, 2017 and 2018, respectively.

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

EARNINGS PER SHARE

17. EARNINGS PER SHARE

Basic earnings per share and diluted earnings per share have been calculated as follows:

	For the years ended December 31,
	2016			2017		2018
Numerator:
Net income from continuing operations	$	94,482		$	3,199,831	$	5,096,480
Net income/(loss) from discontinued operations		(34,792,733	)		31,257,707		-
Total net income/(loss)		(34,698,251	)		34,457,538		5,096,480
Less: Net income attributed to noncontrolling interests		-			-		3,336,769
Total net income/(loss) attributed to ReneSola Ltd	$	(34,698,251	)	$	34,457,538	$	1,759,711

Numerator for diluted income per share for continuing operations		94,482			3,199,831		1,759,711

Numerator for diluted income/(loss) per share for discontinued operations		(34,792,733	)		31,257,707		-

Denominator:
Denominator for basic earnings per share - weighted average number of ordinary shares outstanding		202,229,767			246,899,286		380,752,929
Dilutive effects of share options, RSUs and warrants		174,137			6,003		-
Denominator for diluted calculation - weighted average number of ordinary shares outstanding		202,403,904			246,905,289		380,752,929
Continuing operations:
Basic earnings per share from continuing operations		0.00			0.01		0.00
Diluted earnings per share from continuing operations		0.00			0.01		0.00
Discontinued operations:
Basic earnings/(loss) per share from discontinued operations		(0.17	)		0.13		-
Diluted earnings/(loss) per share from discontinued operations		(0.17	)		0.13		-

The Company issues ordinary shares to its share depository bank which will be used to settle stock option awards upon their exercise. Any ordinary shares not used in the settlement of stock option awards will be returned to the Company. As of December 31, 2017 and 2018, there are 348,100 and 208,100 ordinary shares, respectively, are legally issued to the share depository bank but are treated as escrowed shares for accounting purposes and therefore, have been excluded from the computation of earnings per share.

As the Company reports discontinued operations in the periods presented, the Company uses income from continuing operations as the control number in determining whether those potential common shares are dilutive or antidilutive. That is, the same number of potential common shares used in computing the diluted per-share amount for income from continuing operations shall be used in computing all other reported diluted per-share amounts even if those amounts will be antidilutive to their respective basic per-share amounts.

The following ordinary share equivalents were excluded from the computation of diluted net earnings/(loss) per share for the periods presented because including them would have been anti-dilutive:

	For the years ended December 31,
	2016		2017		2018
Warrants		10,500,000		-		-
Share options		6,085,000		3,491,575		5,460,000
Total		16,585,000		3,491,575		5,460,000

RELATED PARTY BALANCES AND TRANSACTIONS

12 Months Ended

Dec. 31, 2018

RELATED PARTY BALANCES AND TRANSACTIONS

18. RELATED PARTY BALANCES AND TRANSACTIONS

(a) Related party balances

	At December 31,
	2017		2018
Due to ReneSola Singapore (1) and its subsidiaries	$	60,370,065	$	23,238,984

(b) Related party transactions

During the years ended December 31, 2016, 2017 and 2018, related party transactions with ReneSola Singapore Pte., Ltd and its subsidiaries were as follows:

	Years ended December 31,
	2016		2017		2018
Purchase of modules from	$	-	$	33,238,377	$	12,466,413
Rendering of service to		-		868,158		5,168,278
Borrowing from (2)		-		11,343,739		17,273,194
Lending to (3)		-	$	1,624,261		-
Acquire project companies from (4)	$	-		-	$	11,286,840

(1)

After the disposal of the discontinued business in September 2017, ReneSola Singapore Pte., Ltd becomes the related party of the Company that both ReneSola Singapore and the Company are under common control of Mr. Li. The balances due to the entity and its subsidiaries were mainly modules, raw materials that the Company purchased from them and borrowings from them.

(2)

It represented the borrowings under a loan agreement between the Company (“borrower”) and ReneSola Singapore (the “lender”). The lender grants to the borrower a loan in the principal amount of up to US$200 million with annual interest rate of 1%. There is no fixed repayment schedule of this loan. For such loans during 2018, total principal additions were $17.3 million.

(3)

It represented the loan borrowed by ReneSola Singapore’s subsidiaries bearing no interest. There is no fixed repayment schedule of this loan.

(4)

In 2018, the Company acquired certain project companies from ReneSola Zhejiang Ltd. and ReneSola Jiangsu Ltd. for total cash consideration of

$11.29

million. These acquired project companies substantially only own solar power plants that were already being operated by the Company prior to the acquisition. Under ASU 2017–01 “Clarifying the Definition of a Business,” such acquisition constituted an asset acquisition as substantially all of the consideration for acquiring these assets is concentrated in a single identifiable asset.

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

19. COMMITMENTS AND CONTINGENCIES

(a) Operating lease commitments

	At December 31, 2018
Year ended December 31,
2019	$	3,004,314
2020		3,638,224
2021		3,507,783
2022		2,481,946
2023		2,774,093
2024 and later		43,919,102
Total lease payments		59,325,462

(b) Legal matters

The Company is a party to legal matters and claims in the normal course of its operations. While the Company believes that the ultimate outcome of these matters will not have a material adverse effect on its financial position, results of operations or cash flows, the outcome of these matters is not determinable with certainty and negative outcomes may adversely affect the Company.

As at December 31, 2017 and 2018,

ReneSola

Investment, a subsidiary of the Company, guaranteed failed sale-lease back for project companies within the Group with the amount of $26,755,960 and $18,256,841, respectively.

SEGMENT REPORTING

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

SEGMENT REPORTING

20. SEGMENT REPORTING

Prior to the disposal of discontinued business on September 29, 2017 (Note 3), which have been presented as discontinued operations for all the periods presented herein, the Company operated and managed three principal reportable segments, Wafer, Cell and module, and Solar power projects. The Wafer segment involves the manufacture and sales of monocrystalline and multicrystalline solar wafers and processing services. The Cell and module segment involves manufacture and sale of PV cells and modules, and service revenue from tolling arrangements. The solar power projects segment is a newly formed segment in year 2015 which involves solar power project development, EPC services and electricity generation

revenue

. Ancillary revenues and expenses and other unallocated costs and expenses are recorded in other.

Pursuant to the disposal of the manufacturing business and LED distribution business on September 27, 2017 (Note 3) presented in discontinued operations for all the periods presented herein, the Company further separated the solar power project segment into three reportable segments, including solar power project development, EPC services and electricity generation

revenue

. Ancillary revenues and expenses and other unallocated costs and expenses are recorded in other.

The chief operating decision maker is the chief executive officer of the Company.

The Company only reports the segment information of net revenue and gross profit, to conform to the information the chief operating decision maker receives to assess the financial performance and allocate resources. There are no differences between the measurements of the Company’s reportable segment’s gross profit and the Company’s consolidated gross profit, as the Company uses the same profit measurement for all of the reportable segments and the consolidated entity. Furthermore, the Company’s chief operating decision maker is not provided with asset information by segment. As such, no asset information by segment is presented.

The following table summarizes the Company’s revenues generated from each segment:

	Year ended December 31, 2016
	Solar power project development		Electricity generation revenue		Other		Total
Net revenue	$	77,372,737	$	3,131,997	$	-	$	80,504,734
Gross profit	$	6,432,290	$	800,591	$	-	$	7,232,881

	Year ended December 31, 2017
	Solar power project development		Electricity generation revenue		EPC services		Other		Total
Net revenue	$	64,837,042	$	12,247,320	$	25,853,288	$	36,349	$	102,973,999
Gross profit	$	3,575,775	$	7,031,670	$	3,524,310	$	-	$	14,131,755

	Year ended December 31, 2018
	Solar power project development		Electricity generation revenue		EPC services		Other		Total
Net revenue	$	48,784,766	$	29,257,928	$	18,544,164	$	319,477	$	96,906,335
Gross profit	$	7,052,170	$	17,673,474	$	3,329,402	$	14,701	$	28,069,747

The following table summarizes the Company’s revenues generated by the geographic location of customers:

	Years ended December 31,
	2016		2017		2018
China (including Hong Kong and Taiwan)	$	-	$	67,533,887	$	45,395,811
United States		-		18,323,947		15,445,744
Japan		9,175,391		-		-
Bulgaria		652,559		-		-
Romania		2,393,030		4,844,238		1,824,411
England		68,283,754		7,271,370		31,169,458
Turkey		-		4,995,648		2,129,085
France		-		4,909		941,826
Total	$	80,504,734	$	102,973,999	$	96,906,335

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2018

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

21. SUBSEQUENT EVENTS

The Company evaluated subsequent events from the balance sheet date through the issuance date of the financial statements and concluded that no material events occurred during that period.

SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Basis of presentation

(a) Basis of presentation

The consolidated financial statements have been prepared and presented in accordance with accounting principles generally accepted in the United States of America (“US GAAP”).

Disposal of manufacturing business and LED distribution business

Basis of consolidation

(b) Basis of consolidation

Discontinued operations

Fair value measurement

(d) Fair value measurement

Use of estimates

(e) Use of estimates

Cash and cash equivalents

(f) Cash and cash equivalents

Restricted Cash

(g) Restricted Cash

	At December 31,
	2017		2018
Cash and cash equivalents	$	13,429,301	$	6,750,178
Restricted cash		-		2,275,866
Total cash, cash equivalents, and restricted cash	$	13,429,301	$	9,026,044

Project assets and deferred project costs

(h) Project assets and deferred project costs

Contract costs

(i) Contract costs

Contract costs are accumulated and are charged to operations as the related revenue from contracts is recognized. Refer to the note 2 (s) EPC services for the corresponding revenue streams.

Advances to suppliers and advances for purchases of property, plant and equipment

(j) Advances to suppliers and advances for purchases of property, plant and equipment

Property, plant and equipment

(k) Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and impairment. Depreciation is computed on a straight-line basis over the following estimated useful lives:

Plant and machinery	3-5 years
Motor vehicles	4-5 years
Office equipment	3-5 years
Power stations	25 years

Estimated useful life of land is infinite and no depreciation is provided.

Assets held-for-sale

(l) Assets held-for-sale

Long-lived assets to be sold shall be classified as held for sale considering the recognition criteria in ASC 360-10-45-9 in which all of the following criteria are met:



Management, having the authority to approve the action, commits to a plan to sell the asset,



The asset is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets;



An active program to locate a buyer and other actions required to complete the plan to sell the asset have been initiated;



The sale of the asset is probable, and transfer of the asset is expected to qualify for recognition as a completed sale, within one year;



The asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and



Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

Interest capitalization

(m) Interest capitalization

Impairment of long-lived assets

(n) Impairment of long-lived assets

The impairment losses of long-lived assets were nil for the years ended December 31, 2016, 2017 and 2018 respectively.

Leases

(o) Leases

Deferred convertible notes issuance costs

(p) Deferred convertible notes issuance costs

Contingencies

(q) Contingencies

Income taxes

(r) Income taxes

Revenue recognition

(s) Revenue recognition

Under ASC 606

Solar power project development

a) Sale of project assets constructed by a third-party EPC contractor

b) Sale of project assets constructed by the Company’s own EPC team

c) Sale of project asset rights

EPC Services

Electricity

generation

revenue

Revenue from green certificates

For the years ended December 31, 2016, 2017 and 2018, revenue from green certificates were $1,708,163, $4,184,724 and $883,741, respectively, and is included in electricity generation revenue.

Value added tax (“VAT”)

Under ASC 605

Solar power project development

a) Sale of project assets

b) Sale of project asset rights

c) Jointly arrangements of power projects for sale

EPC Services

The Company provides engineering, procurement and construction (“EPC”) services under the EPC contracts to design and build the power plant on customer’s site per customer’s request.

The Company bills the customer based on progress billing terms in the contract. Accounts receivable from EPC services (unbilled) represents revenue that has been recognized in advance of billing the customer, which is common for long-term construction contracts. The Company typically recognizes revenue from contracts for the construction and sale of PV solar power systems over time using cost based input methods, which recognizes revenue and gross profit as work is performed based on the relationship between actual costs incurred compared to the total estimated costs of the contract. Accordingly, revenue could be recognized in advance of billing the customer, resulting in an amount recorded to “Accounts receivable from EPC services (unbilled)” as disclosed in Note 4. Once the Company has an unconditional right to consideration under a construction contract, the Company typically bills the customer accordingly and reclassifies the “Accounts receivable from EPC services (unbilled)” to “Accounts receivable from EPC services (billed).” Billing requirements vary by contract but are generally structured around the completion of certain construction milestones. Certain of the EPC contracts for PV solar power systems contain retainage provisions. Retainage represents contract costs for the portion of the contract price earned for work performed, but held for payment by the customer as a form of security until certain defined timeframe has been reached. The Company considers whether collectability of such retainage is reasonably assured in connection with the Company’s overall assessment of the collectability of amounts due or that will become due under the EPC contracts. Retainage included within “Accounts receivable from EPC services (unbilled)” is expected to be billed and collected within the next 12 months. After the Company has satisfied the EPC contract requirements and has an unconditional right to consideration, the retainage is billed and reclassified to “Accounts receivable from EPC services (billed).” Refer to Note 4 for detail breakdown of the “Accounts receivable from EPC services (unbilled)” and “Accounts receivable from EPC services (billed)” amounts.

Electricity generation revenue

Revenue from green certificates

The Company receives green energy certificates based on electricity generated from the power plants in a subsidiary. The Company sells these certificates to buyers who can then meet the mandatory government quota per year for green energy produced. The Company believes that these green certificates are government incentive and the sale of green energy certificates does not fall into derivative and lease accounting scope. The Company recognizes revenue for the sale in accordance with ASC 605-10-S99-1 when persuasive evidence of a green certificate purchase arrangement with the buyer exists, green certificates have been delivered to the buyer, the price of total green certificates sold is fixed or determinable and the collectability of the resulting receivable is reasonably assured.

Value added tax (“VAT”)

Deferred project revenue

(t) Deferred project revenue

Other operating income (expenses)

(u) Other operating income (expenses)

Other operating income (expenses) primarily consists of discount charges of long-term receivables, compensation income and expenses, and disposal loss of projects assets.

Foreign currency

(v) Foreign currency

Fair value of financial instruments

(w) Fair value of financial instruments

Earnings (loss) per share

(x) Earnings (loss) per share

Share-based compensation

(y) Share-based compensation

See Note 14, “Share Based Compensation”, for further details.

Comprehensive income (loss)

(z) Comprehensive income (loss)

Treasury Stock

(aa) Treasury stock

In September 2016, the Company’s Board of Directors decided to extend the share repurchase program for another 12 months ending September 2017.

Concentrations of credit risk

(ab) Concentrations of credit risk

Recently adopted accounting pronouncements

(ac) Recently adopted accounting pronouncements

The cumulative effect of the changes made to its January 1, 2018 consolidated balance sheet for the adoption of ASU 2016-08, “Revenue - Revenue from Contracts with Customers” was as follows:

	Balance at			Adjustments Due to			Balance at
	December 31, 2017			ASC 606			January 1, 2018
Assets
Accounts receivable, net of allowances for doubtful accounts	$	23,312,086		$	7,079,477		$	30,391,563
Project assets current		76,556,400			(400,642	)		76,155,758
Contract costs		12,668,709			(5,808,850	)		6,859,859
Liabilities and Shareholders’ Equity
Accumulated deficit	$	(435,517,610	)	$	869,985		$	(434,647,625	)

There is no cumulative effect of the changes made to its December 31, 2018 consolidated balance sheet for the adoption of ASU 2016-08, “Revenue - Revenue from Contracts with Customers”.

In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on its consolidated statements of operation and comprehensive income was as follows:

	Year ended December 31, 2018
	As			Balances Without			Effect of
	reported			Adoption of ASC 606			Change
Net revenue:
Solar power projects development	$	48,784,766		$	55,864,243		$	(7,079,477	)
Electricity generation revenue		29,257,928			29,257,928			-
EPC services		18,544,164			18,544,164			-
Others		319,477			319,477			-
Cost of revenue	$	(68,836,588	)	$	(75,046,080	)	$	6,209,492
Gross profit		28,069,747			28,939,732			(869,985	)
Income from operations		15,531,888			16,401,873			(869,985	)
Net income		5,096,480			5,966,465			(869,985	)
Net income attributed to ReneSola Ltd		1,759,711			2,629,696			(869,985	)
Basic income attributed to ReneSola Ltd per share		0.00			0.01			(0.01	)
Diluted income attributed to ReneSola Ltd per share		0.00			0.01			(0.01	)

(ad) Recently issued accounting pronouncements

$30 to $40 million of ROU assets and $30 to $40

million lease liabilities would be recognized on its balance sheet on January 1, 2019.

disclosures.

SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Schedule of the following table provides a reconciliation of cash, cash equivalents, and restricted cash

	At December 31,
	2017		2018
Cash and cash equivalents	$	13,429,301	$	6,750,178
Restricted cash		-		2,275,866
Total cash, cash equivalents, and restricted cash	$	13,429,301	$	9,026,044

Schedule of property, plant and equipment stated at cost less accumulated depreciation

Property, plant and equipment are stated at cost less accumulated depreciation and impairment. Depreciation is computed on a straight-line basis over the following estimated useful lives:

Plant and machinery	3-5 years
Motor vehicles	4-5 years
Office equipment	3-5 years
Power stations	25 years

Schedule of the cumulative effect of the changes made to consolidated balance sheet for the adoption of ASU 2016-08

The cumulative effect of the changes made to its January 1, 2018 consolidated balance sheet for the adoption of ASU 2016-08, “Revenue - Revenue from Contracts with Customers” was as follows:

	Balance at			Adjustments Due to			Balance at
	December 31, 2017			ASC 606			January 1, 2018
Assets
Accounts receivable, net of allowances for doubtful accounts	$	23,312,086		$	7,079,477		$	30,391,563
Project assets current		76,556,400			(400,642	)		76,155,758
Contract costs		12,668,709			(5,808,850	)		6,859,859
Liabilities and Shareholders’ Equity
Accumulated deficit	$	(435,517,610	)	$	869,985		$	(434,647,625	)

Disclosure of the impact of adoption on its consolidated statements of operation and comprehensive income

In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on its consolidated statements of operation and comprehensive income was as follows:

	Year ended December 31, 2018
	As			Balances Without			Effect of
	reported			Adoption of ASC 606			Change
Net revenue:
Solar power projects development	$	48,784,766		$	55,864,243		$	(7,079,477	)
Electricity generation revenue		29,257,928			29,257,928			-
EPC services		18,544,164			18,544,164			-
Others		319,477			319,477			-
Cost of revenue	$	(68,836,588	)	$	(75,046,080	)	$	6,209,492
Gross profit		28,069,747			28,939,732			(869,985	)
Income from operations		15,531,888			16,401,873			(869,985	)
Net income		5,096,480			5,966,465			(869,985	)
Net income attributed to ReneSola Ltd		1,759,711			2,629,696			(869,985	)
Basic income attributed to ReneSola Ltd per share		0.00			0.01			(0.01	)
Diluted income attributed to ReneSola Ltd per share		0.00			0.01			(0.01	)

DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

A reconciliation of disposal gain is presented as follows.

Reconciliation of disposal gain:

Item	Amount in US$ million
Waiver of the Company’s payable to the Buyer of the discontinued operations		217.4
Fair value of shares issued to the Buyer		(42.5	)
Net assets of discontinued operations as of the disposal date		(133.6	)
Release of currency translation difference due to discontinued operations		65.0
Disposal gain		106.3

Results of the discontinued operations

				January 1 – September 30
	2016			2017

Revenues	$	849,331,555		$	472,568,586
Cost of revenues		(747,068,354	)		(457,058,538	)

Gross profit		102,263,201			15,510,048

Operating (expenses)/income:
Selling and marketing		(46,914,631	)		(24,259,869	)
General and administrative		(44,629,891	)		(32,341,022	)
Research and development		(27,286,652	)		(14,715,027	)
Other income		3,771,645			8,776,633
Impairment loss of assets		(4,624,979	)		-
Total operating expenses		(119,684,508	)		(62,539,285	)

Loss from operations		(17,421,307	)		(47,029,237	)

Interest income		2,349,791			1,144,135
Interest expenses		(32,097,477	)		(25,518,288	)
Exchange (loss)/gain		9,945,642			(7,095,061	)
Gain/(loss) on derivatives		4,592,125			(1,284,379	)
Loss from discontinued operations before income taxes		(32,631,226	)		(79,782,830	)
Income tax (expense)/benefit, net		(2,161,507	)		4,748,324

Loss from discontinued operations, net of tax	$	(34,792,733	)	$	(75,034,506	)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
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+ Details

ACCOUNTS RECEIVABLE, NET (Tables)

12 Months Ended

Dec. 31, 2018

Receivables [Abstract]

Financial Instruments Subject to Mandatory Redemption Disclosure

	At December 31,
	2017		2018
Accounts receivable
– from EPC services (billed)	$	7,091,310	$	9,078,144
– from EPC services (unbilled)		1,835,203		526,848
– from solar power project assets (1)		7,124,003		7,045,546
– from electricity generation revenue (2)		7,184,721		17,832,924
– others		76,849		-

Allowance for doubtful accounts		-		-
Accounts receivable, net	$	23,312,086	$	34,483,462

(1)

As of December 31, 2018,

receivables by post-dated checks were

The non-current accounts receivable was discounted and interest income will be recognized over the discount period accordingly.

(2)

Accounts receivable from electricity generation

revenue

includes the receivables from the sales of green certificates.

- Definition

Tabular disclosure of the nature and terms of the financial instruments and the rights and obligations embodied in those instruments, information about settlement alternatives, if any, in the contract and identification of the entity that controls the settlement alternatives including: a. The amount that would be paid, or the number of shares that would be issued and their fair value, determined under the conditions specified in the contract if the settlement were to occur at the reporting date b. How changes in the fair value of the issuer's equity shares would affect those settlement amounts (for example, "the issuer is obligated to issue an additional x shares or pay an additional y dollars in cash for each $1 decrease in the fair value of one share") c. The maximum amount that the issuer could be required to pay to redeem the instrument by physical settlement, if applicable d. The maximum number of shares that could be required to be issued, if applicable e. That a contract does not limit the amount that the issuer could be required to pay or the number of shares that the issuer could be required to issue, if applicable f. For a forward contract or an option indexed to the issuer's equity shares, the forward price or option strike price, the number of issuer's shares to which the contract is indexed, and the settlement date or dates of the contract, as applicable. g. The components of the liability that would otherwise be related to shareholders' interest and other comprehensive income (if any) subject to the redemption feature (for example, par value and other paid in amounts of mandatorily redeemable instruments are disclosed separately from the amount of retained earnings or accumulated deficit).

+ References + Details

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

12 Months Ended

Dec. 31, 2018

Prepaid Expense and Other Assets, Current [Abstract]

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure

	At December 31,
	2017		2018

Refundable deposits (1)	$	7,927,825	$	12,082,372
Prepaid rental fees (2)		1,652,826		954,969
EPC Warranty reimbursement receivables		132,007		186,553
Others		830,164		1,094,182

Total prepaid expenses and other current assets	$	10,542,822	$	14,318,076

(1)

As of December 31, 2018, refundable deposits mainly represented refundable deposits for

interconnection and for

the bidding of the project asset construction rights.

(2)

As of December 31, 2018, prepaid rental fees mainly represented rooftop rental payments for solar power projects due within one year.

PROJECT ASSETS AND DEFERRED PROJECT COSTS (Tables)

12 Months Ended

Dec. 31, 2018

PROJECT ASSETS, CONTRACT COSTS AND DEFERRED PROJECT COSTS [Abstract]

Schedule of Project Assets and Deferred Project Costs

	At December 31,
	2017		2018
Project assets - Module cost	$	16,369,965	$	29,612,819
Project assets - Development and construction cost		61,259,796		71,316,605
Project assets - Others		6,407,213		7,409,941
Total project assets		84,036,974		108,339,365

Current portion		76,556,400		64,257,766
Non-current portion		7,480,574		44,081,599

Total deferred project costs		17,957,041		-

Current portion		17,957,041		-
Non-current portion		-		-

Total project assets and deferred project costs	$	101,994,015	$	108,339,365

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Schedule of property, plant and equipment. net

Property, plant and equipment, net, comprise:

	At December 31,
	2017			2018
Land	$	282,000		$	282,000
Plant and machinery		1,097,710			789,931
Motor vehicles		50,971			183,664
Office equipment		39,247			102,326
Power stations		125,753,462			194,931,540

Less: Accumulated depreciation		(8,388,858	)		(16,215,671	)
		118,834,532			180,073,790
Construction in progress		35,824,545			10,713,472
Property, plant and equipment, net	$	154,659,077		$	190,787,262

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Components of Tax Benefit (Expense)

	Years ended December 31,
	2016			2017			2018
Income (Loss) before income tax
PRC	$	(69,465	)	$	2,938,038		$	10,535,785
Other jurisdictions		296,039			583,861			(5,628,096	)

Total		226,574			3,521,899			4,907,689

Current tax expense
PRC		-			(11,926	)		(553,859	)
Other jurisdictions		(283,829	)		(222,094	)		(351,735	)

Subtotal		(283,829	)		(234,020	)		(905,594	)
Deferred tax benefit (expense)		-
PRC		-			1,402			748,490
Other jurisdictions		151,737			(89,450	)		345,895

Subtotal		151,737			(88,048	)		1,094,385

Total income tax benefit (expense)	$	(132,092	)	$	(322,068	)	$	188,791

Schedule of Principal Components of Deferred Income Tax Assets and Liabilities

	At December 31,
	2017			2018
Deferred tax assets:
Accrued expenses	$	6,254		$	10,632
Net operating losses		3,234,651			5,513,847
Unrealized internal profit		-			1,094,217
Other		55,282			27,990
Total gross deferred tax assets		3,296,187			6,646,686
Valuation allowance on deferred tax assets		(3,236,889	)		(5,535,214	)
Net deferred tax assets	$	59,298		$	1,111,472

Schedule of Reconciliation Between the Applicable Statutory Income Tax Rate and the Company's Effective Tax Rate

	Year ended December 31,
	2016			2017			2018
PRC applicable income tax rate		25	%		25	%		25	%
Change in deferred tax valuation allowance		26	%		(3	)%		47	%
Preferential tax rate (1)		-			(24	)%		(53	)%
Effect of different tax rate of subsidiaries		20	%		(4	)%		(7	)%
Other		(13	)%		(4	)%		(16	)%
Effective income tax rate		58	%		(10	)%		(4	)%

Schedule of Aggregate Amount and Per Share Effect of the Tax Holiday

	Year ended December 31,
	2016		2017		2018

Preferential tax effect (1)	$	-	$	845,010	$	2,609,975
Basic earnings per share from continuing operations effect - decrease		-		-		-
Diluted earnings per share from continuing operations effect - decrease	$	-	$	-	$	-

(1)

BORROWINGS AND OTHER FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of bank borrowings

	At December 31,
	2017		2018
Short-term	$	6,605,894	$	3,368,272
Long-term, current portion		-		41,096,243
Subtotal		6,605,894		44,464,515
Long-term		32,513,900		41,435,099
Total borrowings from bank and other third parties	$	39,119,794	$	85,899,614

Schedule of Maturities of Long-term Debt

2019	$	41,096,243
2020		35,471,022
2021		423,050
2022		439,972
2023		457,571
2024 and after	$	4,643,484

Schedule of Capital Leased Assets

	As of December 31,
	2017		2018

Modules, inverters and etc.	$	32,994,934	$	46,411,683

Schedule of Future Minimum Lease Payments for Capital Leases

	USD
Year ended December 31,
2019	$	6,847,137
2020		8,007,305
2021		8,069,877
2022		8,000,827
2023		6,753,612
2024 and later		5,489,073
Total minimum lease payments		43,167,831
Less: Amount representing interest		(9,037,336	)
Present value of net minimum lease payments		34,130,495
Current portion		5,004,187
Non-current portion	$	29,126,308

	At December 31,
	2017		2018
Non-current portion for capital lease	$	28,929,753	$	29,126,308
Non-current portion for failed sale and lease back	$	38,575,716	$	48,748,462
Total failed sale-lease back and capital lease liabilities		67,505,469		77,874,770

OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2018

Other Liabilities Disclosure [Abstract]

Schedule of Other Current Liabilities

	At December 31,
	2017		2018
Payable for purchase of property, plant and equipment	$	25,562,367	$	36,680,431
Payable for lease fee of rooftops		2,117,606		-
Payables associated with failed sale-lease back–current portion		1,638,904		7,275,464
Payables associated with capital lease–current portion		369,046		5,004,187
Interest payable		-		1,626,010
Other tax payables		229,361		141,317
Accrued EPC warranty liabilities		132,007		186,553
Other (1)		464,944		1,834,945
	$	30,514,235	$	52,748,907

(1) Other as of December 31, 2018 mainly includes the payables for the audit fee and other professional service fees.

WARRANT LIBILITY (Tables)

12 Months Ended

Dec. 31, 2018

WARRANT LIBILITY [Abstract]

Schedule of Assumptions Used to Estimate Fair Value of Warrants Using the Monte Carlo Simulation

	As December 31,
	2016
Stock price	$	3.20
Exercise price	$	30.2
Annual dividend yield		-	%
Time to maturity		0.7
Risk-free interest rate		0.70	%
Expected volatility		42.9	%

SHARE BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of assumptions used to estimate the fair value of the options

	Average risk-free rate of return		Weighted average expected option life	Volatility rate		Dividend yield
Granted in 2016		1.00-1.52 %	3.2 years		119.83-146.29 %		0	%
Granted in 2017		1.93-2.00 %	3.2 years		103.04-109.89 %		0	%
Granted in 2018		2.04-2.62 %	3.2 years		51.06-56.88 %		0	%

Summary of the option activity

	Number of Options			Weighted Average Exercise Prices		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
Options
Outstanding on January 1, 2016		5,947,000			0.74		2.14		685,055
Granted		825,000			0.74		-		-
Exercised		-			-		-		-
Forfeited		(687,000	)		0.74		-		-
Outstanding on December 31, 2016		6,085,000			0.74		1.75		-
Granted		1,550,000			0.64		3.50		-
Exercised		-			-		-		-
Forfeited		(1,470,000	)		0.74		-		-
Outstanding on December 31, 2017		6,165,000			0.71		1.64		-
Granted		830,000			0.26		2.38		-
Exercised		-			-		-		-
Forfeited		(1,535,000	)		0.74		-		-
Outstanding on December 31, 2018		5,460,000			0.36		1.96		-
Vested or expected to vest at December 31, 2018		5,342,127			0.35		1.90		-
Exercisable at December 31, 2018		1,006,000			0.70		0.54		-

Schedule of summary of the RSUs

	Number of shares			Weighted Average Grant Date Fair Value
RSUs
Unvested on January 1, 2016		137,500			1.36
Granted		280,000			0.63
Vested		(137,500	)		1.36
Unvested on December 31, 2016		280,000			0.63
Granted		-			-
Vested		(140,000	)		0.63
Unvested on December 31, 2017		140,000			0.63
Granted		-			-
Vested		(140,000	)		0.63
Unvested on December 31, 2018		-			-

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Schedule of basic and diluted earnings per share

Basic earnings per share and diluted earnings per share have been calculated as follows:

	For the years ended December 31,
	2016			2017		2018
Numerator:
Net income from continuing operations	$	94,482		$	3,199,831	$	5,096,480
Net income/(loss) from discontinued operations		(34,792,733	)		31,257,707		-
Total net income/(loss)		(34,698,251	)		34,457,538		5,096,480
Less: Net income attributed to noncontrolling interests		-			-		3,336,769
Total net income/(loss) attributed to ReneSola Ltd	$	(34,698,251	)	$	34,457,538	$	1,759,711

Numerator for diluted income per share for continuing operations		94,482			3,199,831		1,759,711

Numerator for diluted income/(loss) per share for discontinued operations		(34,792,733	)		31,257,707		-

Denominator:
Denominator for basic earnings per share - weighted average number of ordinary shares outstanding		202,229,767			246,899,286		380,752,929
Dilutive effects of share options, RSUs and warrants		174,137			6,003		-
Denominator for diluted calculation - weighted average number of ordinary shares outstanding		202,403,904			246,905,289		380,752,929
Continuing operations:
Basic earnings per share from continuing operations		0.00			0.01		0.00
Diluted earnings per share from continuing operations		0.00			0.01		0.00
Discontinued operations:
Basic earnings/(loss) per share from discontinued operations		(0.17	)		0.13		-
Diluted earnings/(loss) per share from discontinued operations		(0.17	)		0.13		-

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following ordinary share equivalents were excluded from the computation of diluted net earnings/(loss) per share for the periods presented because including them would have been anti-dilutive:

	For the years ended December 31,
	2016		2017		2018
Warrants		10,500,000		-		-
Share options		6,085,000		3,491,575		5,460,000
Total		16,585,000		3,491,575		5,460,000

RELATED PARTY BALANCES AND TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of amounts due to related parties comprised of amounts payable to purchase of raw materials and others

(a) Related party balances

	At December 31,
	2017		2018
Due to ReneSola Singapore (1) and its subsidiaries	$	60,370,065	$	23,238,984

Schedule of related party transactions

During the years ended December 31, 2016, 2017 and 2018, related party transactions with ReneSola Singapore Pte., Ltd and its subsidiaries were as follows:

	Years ended December 31,
	2016		2017		2018
Purchase of modules from	$	-	$	33,238,377	$	12,466,413
Rendering of service to		-		868,158		5,168,278
Borrowing from (2)		-		11,343,739		17,273,194
Lending to (3)		-	$	1,624,261		-
Acquire project companies from (4)	$	-		-	$	11,286,840

(1)

(2)

(3)

It represented the loan borrowed by ReneSola Singapore’s subsidiaries bearing no interest. There is no fixed repayment schedule of this loan.

(4)

In 2018, the Company acquired certain project companies from ReneSola Zhejiang Ltd. and ReneSola Jiangsu Ltd. for total cash consideration of

$11.29

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Lessee, Operating Lease, Liability, Maturity

(a) Operating lease commitments

	At December 31, 2018
Year ended December 31,
2019	$	3,004,314
2020		3,638,224
2021		3,507,783
2022		2,481,946
2023		2,774,093
2024 and later		43,919,102
Total lease payments		59,325,462

SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Schedule of the Company's revenues generated from each segment

The following table summarizes the Company’s revenues generated from each segment:

	Year ended December 31, 2016
	Solar power project development		Electricity generation revenue		Other		Total
Net revenue	$	77,372,737	$	3,131,997	$	-	$	80,504,734
Gross profit	$	6,432,290	$	800,591	$	-	$	7,232,881

	Year ended December 31, 2017
	Solar power project development		Electricity generation revenue		EPC services		Other		Total
Net revenue	$	64,837,042	$	12,247,320	$	25,853,288	$	36,349	$	102,973,999
Gross profit	$	3,575,775	$	7,031,670	$	3,524,310	$	-	$	14,131,755

	Year ended December 31, 2018
	Solar power project development		Electricity generation revenue		EPC services		Other		Total
Net revenue	$	48,784,766	$	29,257,928	$	18,544,164	$	319,477	$	96,906,335
Gross profit	$	7,052,170	$	17,673,474	$	3,329,402	$	14,701	$	28,069,747

Schedule of the Company's revenues generated by geographic location of customers

The following table summarizes the Company’s revenues generated by the geographic location of customers:

	Years ended December 31,
	2016		2017		2018
China (including Hong Kong and Taiwan)	$	-	$	67,533,887	$	45,395,811
United States		-		18,323,947		15,445,744
Japan		9,175,391		-		-
Bulgaria		652,559		-		-
Romania		2,393,030		4,844,238		1,824,411
England		68,283,754		7,271,370		31,169,458
Turkey		-		4,995,648		2,129,085
France		-		4,909		941,826
Total	$	80,504,734	$	102,973,999	$	96,906,335

SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Advances to Suppliers and Advances for Purchase of Property, Plant and Equipment and Intangible Assets) (Narrative) (Details) - USD ($)		12 Months Ended
	Jan. 02, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Advances to suppliers-current		$ 379,568	$ 379,792
Prepayments for property, plant and equipment, recorded in non-current assets		$ 0	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period	3,220,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	3,300,000	830,000	1,550,000	825,000
Prepaid Expense and Other Assets, Noncurrent		$ 954,969	$ 1,652,826
Prepaid Expense, Noncurrent		640,349
Maximum [Member]
Operating Lease, Right-of-Use Asset		40,000,000
Operating Lease, Liability		40,000,000
Minimum [Member]
Operating Lease, Right-of-Use Asset		30,000,000
Operating Lease, Liability		$ 30,000,000

SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Schedule of Estimated Useful Lives of Property, Plant and Equipment Stated at Cost Less Accumulated Depreciation) (Details)	12 Months Ended
	Dec. 31, 2018
Plant and machinery [Member] \| Minimum [Member]
PROPERTY, PLANT AND EQUIPMENT, NET [Line Items]
Estimated useful lives	3 years
Plant and machinery [Member] \| Maximum [Member]
PROPERTY, PLANT AND EQUIPMENT, NET [Line Items]
Estimated useful lives	5 years
Motor vehicles [Member] \| Minimum [Member]
PROPERTY, PLANT AND EQUIPMENT, NET [Line Items]
Estimated useful lives	4 years
Motor vehicles [Member] \| Maximum [Member]
PROPERTY, PLANT AND EQUIPMENT, NET [Line Items]
Estimated useful lives	5 years
Office equipment [Member] \| Minimum [Member]
PROPERTY, PLANT AND EQUIPMENT, NET [Line Items]
Estimated useful lives	3 years
Office equipment [Member] \| Maximum [Member]
PROPERTY, PLANT AND EQUIPMENT, NET [Line Items]
Estimated useful lives	5 years
Power stations \| Minimum [Member]
PROPERTY, PLANT AND EQUIPMENT, NET [Line Items]
Estimated useful lives	2 years
Power stations \| Maximum [Member]
PROPERTY, PLANT AND EQUIPMENT, NET [Line Items]
Estimated useful lives	5 years

SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Convertible Senior Notes, Revenue Recognition, Deferred Project Revenue, Cost of Revenues, Warranty Costs and Government Grants) (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue recognition [Line Items]
Amortization of deferred convertible notes issuance costs and premium	$ 0	$ 0	$ 32,935
Other Assets, Noncurrent	6,458,949	3,425,098
Solar power projects [Member]
Revenue recognition [Line Items]
Deferred project revenue		20,791,918
Revenue from Contract with Customer, Including Assessed Tax	48,784,766	64,837,042	77,372,737
Grant [Member]
Revenue recognition [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 883,741	$ 4,184,724	$ 1,708,163

SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Foreign Currency and Derivative Financial Instruments) (Narrative) (Details)	Dec. 31, 2018 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 USD ($)	Dec. 31, 2017 CNY (¥)
Concentration Risk [Line Items]
Cash and cash equivalents, functional currency equivalent of foreign currency denominated amount	$ 4,068,050	¥ 27,969,872	$ 3,016,508	¥ 19,626,332

SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Earnings (Loss) Per Share and Treasury Stock) (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Sep. 23, 2015
Treasury Stock
Treasury Stock, Shares, Retired	1,451,700
Total cash consideration of shares repurchased		$ (1,493,352)
Treasury stock [Member]
Treasury Stock
Treasury Stock, Shares, Retired	1,451,700	1,352,586
ADS repurchased		(2,804,286)
Total cash consideration of shares repurchased		$ (1,493,352)	$ 812,184
American Depository Shares (ADS) [Member]
Treasury Stock
Maximum amount authorized to repurchase ADS				$ 20,000,000
Treasury Stock, Shares, Retired		2,804,286	1,614,776
ADS repurchased		280,429	161,477

SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Schedule of the following table provides a reconciliation of cash, cash equivalents, and restricted cash) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Cash and cash equivalents	$ 6,750,178	$ 13,429,301
Restricted cash	2,275,866	0
Total cash, cash equivalents, and restricted cash	$ 9,026,044	$ 13,429,301

SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Schedule of the cumulative effect of the changes made to consolidated balance sheet for the adoption of ASU 2016-08) (Details) - USD ($)	Dec. 31, 2018	Jan. 02, 2018	Dec. 31, 2017
Accounts receivable, net of allowances for doubtful accounts	$ 34,483,462	$ 30,391,563	$ 23,312,086
Project assets current	64,257,766	76,155,758	76,556,400
Contract costs		6,859,859	12,668,709
Liabilities and Shareholders' Equity
Accumulated deficit	(433,514,434)	$ (434,647,625)	$ (435,517,610)
Restatement Adjustment [Member]
Accounts receivable, net of allowances for doubtful accounts	7,079,477
Project assets current	(400,642)
Contract costs	(5,808,850)
Liabilities and Shareholders' Equity
Accumulated deficit	$ 869,985

SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Disclosure of the impact of adoption on its consolidated statements of operation and comprehensive income) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues	$ 96,906,335	$ 102,973,999	$ 80,504,734
Cost of revenue	(68,836,588)	(88,842,244)	(73,271,853)
Gross profit	28,069,747	14,131,755	7,232,881
Income from operations	5,096,480	3,199,831	94,482
Net income/(loss)	5,096,480	34,457,538	(34,698,251)
Net income attributed to ReneSola Ltd	$ 1,759,711	$ 34,457,538	$ (34,698,251)
Basic income attributed to ReneSola Ltd per share	$ 0.00
Diluted income attributed to ReneSola Ltd per share	$ 0.00
Previously Reported [Member]
Cost of revenue	$ (75,046,080)
Gross profit	28,939,732
Income from operations	16,401,873
Net income/(loss)	5,966,465
Net income attributed to ReneSola Ltd	$ 2,629,696
Basic income attributed to ReneSola Ltd per share	$ 0.01
Diluted income attributed to ReneSola Ltd per share	$ 0.01
Restatement Adjustment [Member]
Cost of revenue	$ 6,209,492
Gross profit	(869,985)
Income from operations	(869,985)
Net income/(loss)	(869,985)
Net income attributed to ReneSola Ltd	$ (869,985)
Basic income attributed to ReneSola Ltd per share	$ (0.01)
Diluted income attributed to ReneSola Ltd per share	$ (0.01)
Solar power projects development [Member]
Revenues	$ 48,784,766
Solar power projects development [Member] \| Previously Reported [Member]
Revenues	55,864,243
Solar power projects development [Member] \| Restatement Adjustment [Member]
Revenues	(7,079,477)
Electricity generation revenue [Member]
Revenues	29,257,928
Electricity generation revenue [Member] \| Previously Reported [Member]
Revenues	29,257,928
Electricity generation revenue [Member] \| Restatement Adjustment [Member]
Revenues	0
EPC services [Member]
Revenues	18,544,164
EPC services [Member] \| Previously Reported [Member]
Revenues	18,544,164
EPC services [Member] \| Restatement Adjustment [Member]
Revenues	0
Others [Member]
Revenues	319,477
Others [Member] \| Previously Reported [Member]
Revenues	319,477
Others [Member] \| Restatement Adjustment [Member]
Revenues	$ 0

DISCONTINUED OPERATIONS (Narrative) (Details) shares in Millions, ¥ in Billions	12 Months Ended
	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($) shares	Dec. 31, 2018 CNY (¥)
Debt, Long-term and Short-term, Combined Amount	$ 85,899,614	$ 39,119,794
Waive of Payable to Discontinued Operations	217,400,000
Stock Issued During Period, Shares, New Issues \| shares		180
Stock Issued During Period, Value, New Issues	42,500,000	$ 42,480,000
Manufacturing and LED Distribution Businesses [Member]
Debt, Long-term and Short-term, Combined Amount	$ 461,000,000		¥ 3
American Depositary Shares [Member]
Stock Issued During Period, Shares, New Issues \| shares		18

DISCONTINUED OPERATIONS (Reconciliation of disposal gain) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Waiver of the Company's payable to the Buyer of the discontinued operations	$ 217,400,000
Fair value of shares issued to the Buyer	(42,500,000)
Net assets of discontinued operations as of the disposal date	(133,600,000)
Release of currency translation difference due to discontinued operations	0	$ (64,984,682)	$ 0
Disposal Gain	$ 0	$ 106,292,213	$ 0

DISCONTINUED OPERATIONS (Results of the discontinued operations) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues	$ 472,568,586			$ 849,331,555
Cost of revenues	(457,058,538)			(747,068,354)
Gross Profit	15,510,048			102,263,201
Operating (expenses)/income:
Selling and marketing	(24,259,869)			(46,914,631)
General and administrative	(32,341,022)			(44,629,891)
Research and development	(14,715,027)			(27,286,652)
Other income	8,776,633			3,771,645
Impairment loss of assets	0			(4,624,979)
Total operating expenses	(62,539,285)			(119,684,508)
Loss from operations	(47,029,237)			(17,421,307)
Interest income	1,144,135			2,349,791
Interest expenses	(25,518,288)			(32,097,477)
Exchange (loss)/gain	(7,095,061)			9,945,642
Gain/(loss) on derivatives	(1,284,379)			4,592,125
Loss from discontinued operations before income taxes	(79,782,830)	$ 0	$ (79,782,830)	(32,631,226)
Income tax (expense)/benefit, net	4,748,324	0	4,748,324	(2,161,507)
Income/(loss) from discontinued operations, net of tax	$ (75,034,506)	$ 0	$ 31,257,707	$ (34,792,733)

ACCOUNTS RECEIVABLE, NET (Narrative) (Details) - USD ($)	Dec. 31, 2018	Jan. 02, 2018	Dec. 31, 2017
Accounts Receivable, Net, Current	$ 34,483,462	$ 30,391,563	$ 23,312,086
EPC services customer [Member]
Accounts Receivable, Net	$ 6,036,988
Percentage of Receivables of Total Accounts	(17.00%)
Percentage of Threshold Limit of Accounts Receivables	10.00%
solar power project assets [Member]
Accounts Receivable, Net	$ 9,034,526
Accounts Receivable, Net, Current	3,215,926
Accounts Receivable, Net, Noncurrent	$ 5,818,600

ACCOUNTS RECEIVABLE, NET (Details) - USD ($)

Dec. 31, 2018

Jan. 02, 2018

Dec. 31, 2017

Accounts Receivable, Net, Current [Abstract]

Allowance for doubtful accounts

$ 0

Accounts receivable, net

34,483,462

$ 30,391,563

23,312,086

Trade Accounts Receivable One [Member]

Accounts Receivable, Net, Current [Abstract]

Accounts Receivable, Gross, Current

9,078,144

7,091,310

Trade Accounts Receivable Two [Member]

Accounts Receivable, Net, Current [Abstract]

Accounts Receivable, Gross, Current

526,848

1,835,203

Trade Accounts Receivable Three [Member]

Accounts Receivable, Net, Current [Abstract]

Accounts Receivable, Gross, Current

^[1]

7,045,546

7,124,003

Trade Accounts Receivable Fourth [Member]

Accounts Receivable, Net, Current [Abstract]

Accounts Receivable, Gross, Current

^[2]

17,832,924

7,184,721

Trade Accounts Receivable Fifth [Member]

Accounts Receivable, Net, Current [Abstract]

Accounts Receivable, Gross, Current

$ 0

$ 76,849

[1]

As of December 31, 2018, receivables by post-dated checks were $9,034,526 and date of acceptance were from May 31, 2019 to November 30, 2021. Whereas $3,215,926 were classified as current and recorded in accounts receivable from solar power project assets and $5,818,600 were classified as non-current and recorded in other non-current assets. The non-current accounts receivable was discounted and interest income will be recognized over the discount period accordingly.

[2]

Accounts receivable from electricity generation revenue includes the receivables from the sales of green certificates.

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($)

Dec. 31, 2018

Dec. 31, 2017

Refundable deposits

^[1]

$ 12,082,372

$ 7,927,825

Prepaid rental fees

^[2]

954,969

1,652,826

EPC Warranty reimbursement receivables

186,553

132,007

Others

1,094,182

830,164

Total prepaid expenses and other current assets

$ 14,318,076

$ 10,542,822

[1]	As of December 31, 2018, refundable deposits mainly represented refundable deposits for interconnection and for the bidding of the project asset construction rights.
[2]	As of December 31, 2018, prepaid rental fees mainly represented rooftop rental payments for solar power projects due within one year.

PROJECT ASSETS AND DEFERRED PROJECT COSTS (Schedule of Project Assets and Deferred Project Costs) (Details) - USD ($)	Dec. 31, 2018	Jan. 02, 2018	Dec. 31, 2017
Project assets - Module cost	$ 29,612,819		$ 16,369,965
Project assets - Development and construction cost	71,316,605		61,259,796
Project assets - Others	7,409,941		6,407,213
Total project assets	108,339,365		84,036,974
Current portion	64,257,766	$ 76,155,758	76,556,400
Non-current portion	44,081,599		7,480,574
Total deferred project costs	0		17,957,041
Current portion	0		17,957,041
Non-current portion	0		0
Total project assets and deferred project costs	$ 108,339,365		$ 101,994,015

PROPERTY, PLANT AND EQUIPMENT, NET (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
PROPERTY, PLANT AND EQUIPMENT, NET [Line Items]
Depreciation expense	$ 8,402,169	$ 4,475,823	$ 2,400,522

PROPERTY, PLANT AND EQUIPMENT, NET (Schedule of Property, Plant and Equipment Net) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
PROPERTY, PLANT AND EQUIPMENT, NET [Line Items]
Less: Accumulated depreciation	$ (16,215,671)	$ (8,388,858)
Property, plant and equipment Before Construstruction	180,073,790	118,834,532
Property, plant and equipment, net	190,787,262	154,659,077
Land [Member]
PROPERTY, PLANT AND EQUIPMENT, NET [Line Items]
Property, plant and equipment, gross	282,000	282,000
Plant and machinery [Member]
PROPERTY, PLANT AND EQUIPMENT, NET [Line Items]
Property, plant and equipment, gross	789,931	1,097,710
Motor vehicles [Member]
PROPERTY, PLANT AND EQUIPMENT, NET [Line Items]
Property, plant and equipment, gross	183,664	50,971
Office equipment [Member]
PROPERTY, PLANT AND EQUIPMENT, NET [Line Items]
Property, plant and equipment, gross	102,326	39,247
Construction in progress [Member]
PROPERTY, PLANT AND EQUIPMENT, NET [Line Items]
Property, plant and equipment, gross	10,713,472	35,824,545
Power stations [Member]
PROPERTY, PLANT AND EQUIPMENT, NET [Line Items]
Property, plant and equipment, gross	$ 194,931,540	$ 125,753,462

INCOME TAXES (Narrative) (Details)

1 Months Ended

12 Months Ended

Jan. 31, 2008

Dec. 31, 2018

USD ($)

Dec. 31, 2017

USD ($)

Dec. 31, 2016

Dec. 31, 2017

CNY (¥)

INCOME TAXES

Statutory income tax rate in PRC (as a percent)

25.00%

Deferred Tax Assets, Valuation Allowance

$ 5,535,214

$ 3,236,889

Income Tax Holiday, Description

Pursuant to PRC tax laws, certain subsidiaries of the Company are solar power generation enterprises, which are entitled to a three-year tax exemption from PRC Corporate Income Tax ("PRC CIT") from first operation year and a 50% PRC CIT reduction for the succeeding three years thereafter.

Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent

7.50%

Preferential tax rate

^[1]

(53.00%)

(24.00%)

0.00%

CHINA

INCOME TAXES

Statutory income tax rate in PRC (as a percent)

25.00%

California Franchise Tax Board [Member]

INCOME TAXES

Statutory income tax rate in PRC (as a percent)

35.00%

Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent

8.84%

Western Region of China [Member]

INCOME TAXES

Preferential tax rate

15.00%

Minimum [Member]

INCOME TAXES

Amount of underpayment of tax considered for applicability of extended period of statute of limitations Period

$ 15,060

¥ 100,000

PRC [Member]

INCOME TAXES

Net operating loss carryforwards

$ 1,359,934

Income Tax Holiday, Description

PRC [Member] | 2021 [Member]

INCOME TAXES

Net operating loss carryforwards

$ 154,272

PRC [Member] | 2022 [Member]

INCOME TAXES

Net operating loss carryforwards

1,033,152

PRC [Member] | 2023 [Member]

INCOME TAXES

Net operating loss carryforwards

$ 172,510

[1]

INCOME TAXES (Schedule of Components of Tax Benefit (Expense) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income (Loss) before income tax
PRC	$ 10,535,785	$ 2,938,038	$ (69,465)
Other jurisdictions	(5,628,096)	583,861	296,039
Total	4,907,689	3,521,899	226,574
Current tax expense
PRC	(553,859)	(11,926)	0
Other jurisdictions	(351,735)	(222,094)	(283,829)
Subtotal	(905,594)	(234,020)	(283,829)
Deferred tax benefit (expense)
PRC	748,490	1,402	0
Other jurisdictions	345,895	(89,450)	151,737
Subtotal	1,094,385	(88,048)	151,737
Total income tax benefit (expense)	$ 188,791	$ (322,068)	$ (132,092)

INCOME TAXES (Schedule of Principal Components of Deferred Income Tax Assets and Liabilities) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Accrued expenses	$ 10,632	$ 6,254
Net operating losses	5,513,847	3,234,651
Unrealized internal profit	1,094,217	0
Others	27,990	55,282
Total gross deferred tax assets	6,646,686	3,296,187
Valuation allowance on deferred tax assets	(5,535,214)	(3,236,889)
Net deferred tax assets	$ 1,111,472	$ 59,298

INCOME TAXES (Schedule of Reconciliation Between the Applicable Statutory Income Tax Rate and the Company's Effective Tax Rate) (Details)

12 Months Ended

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Reconciliation between the applicable statutory income tax rate and the Company's effective tax rate

PRC applicable income tax rate

25.00%

Change in deferred tax valuation allowance

47.00%

(3.00%)

26.00%

Preferential tax rate

^[1]

(53.00%)

(24.00%)

0.00%

Effect of different tax rate of subsidiaries

(7.00%)

(4.00%)

20.00%

Other

(16.00%)

(4.00%)

(13.00%)

Effective income tax rate

(4.00%)

(10.00%)

58.00%

[1]

INCOME TAXES (Schedule of Aggregate Amount and Per Share Effect of the Tax Holiday) (Details) - CHINA - USD ($)

12 Months Ended

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Aggregate amount and per share effect of the Tax Holiday

Preferential tax effect

^[1]

$ 2,609,975

$ 845,010

$ 0

Basic earnings per share from continuing operations effect -decrease

$ 0

Diluted earnings per share from continuing operations effect -decrease

$ 0

[1]

BORROWINGS AND OTHER FINANCING ARRANGEMENTS (Narrative) (Details) € in Millions, zł in Millions, Ft in Millions, ₩ in Billions	1 Months Ended						12 Months Ended
	Aug. 31, 2018 USD ($)	Aug. 31, 2018 HUF (Ft)	Jun. 30, 2018 USD ($)	Jun. 30, 2018 EUR (€)	Mar. 01, 2013 USD ($)	Mar. 01, 2013 KRW (₩)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2017 EUR (€)	Dec. 31, 2016 USD ($)	Dec. 31, 2018 HUF (Ft)	Dec. 31, 2018 KRW (₩)	Dec. 31, 2018 PLN (zł)
BORROWINGS [Line Items]
Short-term							$ 3,368,272	$ 6,605,894
Short-term
Weighted average interest rate (as a percent)							6.57%	6.00%			6.57%	6.57%	6.57%
Interest expense
Interest Costs Incurred							$ 11,578,848	$ 4,045,277		$ 1,842,227
Interest Paid, Capitalized							2,874,944	108,975		$ 0
Sale Leaseback Transaction, Net Book Value							23,474,319	33,753,639
Sale Leaseback Transaction, Gross Proceeds, Investing Activities							$ 24,876,650	39,535,563
Solar Project, Useful Life							25 years
Failed Sale Leaseback Transaction, Amount Due under Financing Arrangement, Noncurrent							$ 48,748,462	38,575,716
Capital Leases, Balance Sheet, Assets by Major Class, Net							46,411,683	32,994,934
Failed Sale Leaseback Transaction, Amount Due under Financing Arrangement, Current							7,275,464	1,638,904
Interest Expense, Debt							4,617,129	836,959
Capital Lease Obligations							$ 34,130,495	29,298,799
Sale Leaseback Transaction, Lease Terms							4 to 10 years
Long-term Debt, Current Maturities							$ 41,096,243
KOREA, REPUBLIC OF
Interest expense
Proceeds from Issuance of Long-term Debt					$ 32,100,000	₩ 35.7
Debt Instrument, Maturity Date					Mar. 01, 2020	Mar. 01, 2020
Long-term Debt							$ 29,400,000					₩ 32.7
Poland Lender [Member]
Interest expense
Proceeds from Issuance of Long-term Debt			$ 41,300,000	€ 36.1				17,500,000	€ 15.3
Debt Instrument, Maturity Date							Dec. 07, 2019
Long-term Debt							$ 40,700,000						zł 152.7
US lender [Member]
Interest expense
Debt Instrument, Maturity Date							Apr. 30, 2020
Long-term Debt							$ 5,700,000
Hungary Lender [Member]
Interest expense
Long-term Debt, Current Maturities							$ 400,000
Proceeds from Issuance of Long-term Debt	$ 7,800,000	Ft 2,200.0
Debt Instrument, Maturity Date							Dec. 31, 2033
Long-term Debt							$ 6,800,000				Ft 1.9
Financings With Failed Sale-Lease Back Transactions [Member]
Interest expense
Failed Sale Leaseback Transaction, Amount Due under Financing Arrangement, Current							$ 7,275,464	$ 1,638,904
Debt, Weighted Average Interest Rate							6.53%	6.07%			6.53%	6.53%	6.53%
Long-term [Member]
Long-term
Weighted average interest rate (as a percent)							5.86%	5.80%		6.80%	5.86%	5.86%	5.86%
Secured debt [Member]
BORROWINGS [Line Items]
Short-term							$ 3,368,272	$ 6,605,894
Secured borrowings							$ 82,531,342	$ 32,513,900

BORROWINGS AND OTHER FINANCING ARRANGEMENTS (Schedule of Bank Borrowings) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Short-term	$ 3,368,272	$ 6,605,894
Long-term, current portion	41,096,243	0
Subtotal	44,464,515	6,605,894
Long-term	41,435,099	32,513,900
Total	$ 85,899,614	$ 39,119,794

- Definition

The carrying value as of the balance sheet date of the noncurrent portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

BORROWINGS AND OTHER FINANCING ARRANGEMENTS (Schedule of long-term bank loans should be repaid) (Details)	Dec. 31, 2018 USD ($)
2019	$ 41,096,243
2020	35,471,022
2021	423,050
2022	439,972
2023	457,571
2024 and after	$ 4,643,484

BORROWINGS AND OTHER FINANCING ARRANGEMENTS (Schedule Of Capital lease Assets) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Modules, inverters and etc.	$ 46,411,683	$ 32,994,934

BORROWINGS AND OTHER FINANCING ARRANGEMENTS (Schedule Of Capital Lease Future Payments) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
2019	$ 6,847,137
2020	8,007,305
2021	8,069,877
2022	8,000,827
2023	6,753,612
2024 and later	5,489,073
Total minimum lease payments	43,167,831
Less: Amount representing interest	(9,037,336)
Present value of net minimum lease payments	34,130,495
Current portion	5,004,187	$ 369,046
Non-current portion	29,126,308	28,929,753
Non-current portion for failed sale and lease back	48,748,462	38,575,716
Total failed sale-lease back and capital lease liabilities	$ 77,874,770	$ 67,505,469

OTHER CURRENT LIABILITIES (Schedule of Other Current Liabilities) (Details) - USD ($)

Dec. 31, 2018

Dec. 31, 2017

Payable for purchase of property, plant and equipment

$ 36,680,431

$ 25,562,367

Payable for lease fee of rooftops

2,117,606

Payables associated with failed sale-lease back-current portion

7,275,464

1,638,904

Payables associated with capital lease -current portion

5,004,187

369,046

Interest Payable

1,626,010

Other tax payables

141,317

229,361

Accrued EPC warranty liabilities

186,553

132,007

Others

^[1]

1,834,945

464,944

Other current liabilities

$ 52,748,907

$ 30,514,235

[1]	Other as of December 31, 2018 mainly includes the payables for the audit fee and other professional service fees.

CONVERTIBLE SENIOR NOTES (Details)		12 Months Ended
CONVERTIBLE SENIOR NOTES (Details)	Apr. 07, 2011 USD ($)	Dec. 31, 2018 USD ($) $ / shares	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($) $ / shares	Dec. 31, 2015 USD ($) ADS	Dec. 31, 2011 USD ($)	Mar. 15, 2011 USD ($)
CONVERTIBLE SENIOR NOTES [Line Items]
Cash used for repurchase of debt		$ 0	$ 0	$ 25,931,219
Net gain repurchase of debt		0	0	212,056
Amortization of deferred convertible notes issuance costs and premium		$ 0	$ 0	32,935
American Depository Shares (ADS) [Member]
CONVERTIBLE SENIOR NOTES [Line Items]
Debt Issuance Cost						$ 7,156,101
Convertible Senior Notes due 2018 [Member]
CONVERTIBLE SENIOR NOTES [Line Items]
Debt issued							$ 175,000,000
Interest rate (as a percent)		4.125%
Redemption price at the option of the holder as a percentage of principal amount together with any accrued but unpaid interest		100.00%
Repurchase of debt				26,145,000	$ 68,454,000		$ 88,384,000
Cash used for repurchase of debt				25,931,219	54,376,600	57,055,127
Net gain repurchase of debt				212,056	13,693,269	28,349,939
Maximum aggregate principal amount pertaining to exercise of over-allotment of debt by initial purchasers	$ 25,000,000
Deferred issuance cost expensed				1,725	$ 384,131	2,978,934
Refund of portion of premium paid due to repurchase of debt						$ 861,280
Amortization of deferred convertible notes issuance costs and premium		$ 0		$ 32,935
Convertible Senior Notes due 2018 [Member] \| American Depository Shares (ADS) [Member]
CONVERTIBLE SENIOR NOTES [Line Items]
Conversion price of debts (in pound sterling per share/in dollars per ADS) \| $ / shares				$ 10.5473
Number of shares to be allotted and issued on full conversion of debts (in shares/ADS) \| ADS					2,478,833
Cap price (in dollars per ADS) \| $ / shares		$ 15.0675
Premium of preliminary option		$ 21,504,779
Premium of over-allotment option		$ 3,197,500

WARRANT LIABILITY (Narrative) (Details)		12 Months Ended
WARRANT LIABILITY (Narrative) (Details)	Sep. 16, 2013 USD ($) $ / shares shares	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
WARRANT LIBILITIES [Line Items]
Gain from the change in fair value of the warrant liability		$ 0	$ 0	$ (577,500)
Warrant [Member]
WARRANT LIBILITIES [Line Items]
Number of shares that can be purchased on exercise of warrants \| shares	10,500,000
Number of shares that can be purchased on exercise of warrants as a percentage of shares issued in public offering	(35.00%)
Number of ordinary shares per ADS	30.2
Aggregate American Depository Shares (ADS) \| shares	1,050,000
Exercise price (in dollars per share) \| $ / shares	$ 3.02
Gain from the change in fair value of the warrant liability				$ 577,500
Warrant Liabilities Current	$ 12,547,500

WARRANT LIABILITY (Schedule of Assumptions Used to Estimate Fair Value of Warrants Using the Monte Carlo Simulation) (Details)	Dec. 31, 2016 $ / shares
Exercise price [Member]
Assumptions to estimate the fair value of warrants
Derivative Liability, Measurement Input	30.2
Annual dividend yield [Member]
Assumptions to estimate the fair value of warrants
Derivative Liability, Measurement Input
Time to maturity [Member]
Assumptions to estimate the fair value of warrants
Derivative Liability, Measurement Input	0.7
Risk-free interest rate [Member]
Assumptions to estimate the fair value of warrants
Derivative Liability, Measurement Input	0.70
Expected volatility [Member]
Assumptions to estimate the fair value of warrants
Derivative Liability, Measurement Input	42.9
Warrant [Member]
Assumptions to estimate the fair value of warrants
Stock price (in dollars per share)	$ 3.20

SHARE BASED COMPENSATION (Narrative) (Details) - USD ($)		1 Months Ended	12 Months Ended
	Jan. 02, 2018	Apr. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2012
Additional disclosures [Abstract]
Granted (in shares)	3,300,000		830,000	1,550,000	825,000
Granted (in dollars per share)			$ 0.26	$ 0.64	$ 0.74
Options modification [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	3,300,000		830,000	1,550,000	825,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Period Increase (Decrease)			400,000
Additional disclosures [Abstract]
Unrecognized compensation expense related to unvested share-based compensation arrangements			$ 652,424
Previously Reported [Member]
Options modification [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		5 years	5 years
Restatement Adjustment [Member]
Options modification [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years	3 years
Employee Stock Option [Member]
Additional disclosures [Abstract]
Compensation cost			$ 406,228	$ 783,118	$ 692,322
Granted (in shares)			830,000	1,550,000	825,000
Granted (in dollars per share)			$ 0.26	$ 0.64	$ 0.74
Options modification [Abstract]
Incremental compensation cost		$ 58,499	$ 10,132			$ 444,373
Unrecognized incremental compensation costs		$ 175,497	$ 20,264			$ 330,559
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			830,000	1,550,000	825,000
Additional disclosures [Abstract]
Weighted average fair value of options granted (in dollars per share)			$ 0.10	$ 0.41	$ 0.48
Period for recognition of unrecognized compensation costs			2 years 5 months 4 days
Restricted Share Units [Member]
Additional disclosures [Abstract]
Total fair value of shares vested (in dollars)			$ 39,200	$ 39,760	$ 85,940
2007 Share Incentive Plan [Member]
Additional disclosures [Abstract]
Number of authorized shares			7,500,000
2007 Share Incentive Plan [Member] \| Restricted Share Units [Member]
Additional disclosures [Abstract]
Compensation cost			$ 32,842	87,500	$ 54,658
Additional disclosures [Abstract]
Unrecognized compensation expense related to unvested share-based compensation arrangements				$ 32,842

SHARE BASED COMPENSATION (Schedule of Assumptions Used to Estimate the Fair Value of the Options) (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assumptions used to estimate fair value of the options [Abstract]
Average risk-free rate of return, minimum (as a percent)	2.04%	1.93%	1.00%
Average risk-free rate of return, maximum (as a percent)	2.62%	2.00%	1.52%
Weighted average expected option life	3 years 2 months 12 days	3 years 2 months 12 days	3 years 2 months 12 days
Volatility rate, minimum (as a percent)	51.06%	103.04%	119.83%
Volatility rate, maximum (as a percent)	56.88%	109.89%	146.29%
Dividend yield (as a percent)	0.00%	0.00%	0.00%

SHARE BASED COMPENSATION (Summary of the Option Activity) (Details) - USD ($)		12 Months Ended
	Jan. 02, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Number of Options [Roll Forward]
Options outstanding at the beginning of the period (in shares)			6,085,000	5,947,000
Granted (in shares)	3,300,000	830,000	1,550,000	825,000
Exercised (in shares)		0	0	0
Forfeited (in shares)		(1,535,000)	(1,470,000)	(687,000)
Options outstanding at the end of the period (in shares)		5,460,000		6,085,000
Vested or expected to vest at the end of the period (in shares)		5,342,127
Exercisable at the end of the period (in shares)		1,006,000
Weighted Average Exercise Prices [Abstract]
Options outstanding at the beginning of the period (in dollars per share)			$ 0.71	$ 0.74
Granted (in dollars per share)		$ 0.26	0.64	0.74
Exercised (in dollars per share)		0	0	0
Forfeited (in dollars per share)		0.74	$ 0.74	0.74
Options outstanding at the end of the period (in dollars per share)		0.36		$ 0.71
Vested or expected to vest at the end of the period (in dollars per share)		0.35
Exercised at the end of the period (in dollars per share)		$ 0.70
Weighted Average Remaining Contractual Life [Abstract]
Outstanding at the beginning of the period		1 year 11 months 15 days	1 year 7 months 20 days	1 year 9 months
Granted		2 years 4 months 17 days	3 years 6 months	0 years
Exercised		0 years	0 years	0 years
Forfeited		0 years	0 years	0 years
Outstanding at the end of the period		1 year 11 months 15 days	1 year 7 months 20 days	1 year 9 months
Vested or expected to vest at the end of the period		1 year 10 months 24 days
Exercisable at the end of the period		6 months 14 days
Aggregate Intrinsic Value [Abstract]
Outstanding at the beginning of the period (in dollars)			$ 0	$ 685,055
Granted (in dollars)		$ 0	0	0
Exercised (in dollars)		0	0	0
Forfeited (in dollars)		0	$ 0	0
Outstanding at the end of the period (in dollars)		0		$ 0
Vested or expected to vest at the end of the period (in dollars)		0
Exercisable at the end of the period (in dollars)		$ 0

SHARE BASED COMPENSATION (Summary of the RSUs) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Number of shares
Outstanding at the beginning of the period (in shares)		140,000	137,500
Granted (in shares)	0	0	280,000
Vested (in shares)	(140,000)	(140,000)	(137,500)
Outstanding at the end of the period (in shares)	0		140,000
Weighted Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share)		$ 0.63	$ 1.36
Granted (in dollars per share)	$ 0	0	0.63
Vested (in dollars per share)	0.63	$ 0.63	1.36
Outstanding at the end of the period (in dollars per share)	$ 0		$ 0.63

EMPLOYEE BENEFITS (Narrative) (Details) - USD ($)	12 Months Ended
EMPLOYEE BENEFITS (Narrative) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
EMPLOYEE BENEFITS [Line Items]
Total contribution	$ 765,379	$ 674,100	$ 215,981
ReneSola Jiangsu [Member]
EMPLOYEE BENEFITS [Line Items]
Percentage of employer's contribution required by PRC law	19.20%
Renesola Shanghai Ltd [Member]
EMPLOYEE BENEFITS [Line Items]
Percentage of employer matching contribution of basic salaries	20.00%
Sichuan Bo Power Engineering Co., Ltd. [Member]
EMPLOYEE BENEFITS [Line Items]
Percentage of employer matching contribution of basic salaries	19.00%
Percentage of employer's contribution required by PRC law	18.00%
Zhejiang ReneSola Investment Ltd [Member]
EMPLOYEE BENEFITS [Line Items]
Percentage of employer matching contribution of basic salaries	14.00%
ReneSola Investment [Member]
EMPLOYEE BENEFITS [Line Items]
Percentage of employer's contribution required by PRC law	22.00%

DISTRIBUTION OF PROFIT AND RESTRICTED NET ASSETS (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Appropriations to general reserve as a percentage of profit after tax, minimum	10.00%
Restricted net assets of PRC subsidiaries	$ 16,000,000	$ 16,000,000
Restricted Net Assets, Percent Of Net Assets	12.80%	17.50%

EARNINGS PER SHARE (Narrative) (Details) - shares	Dec. 31, 2018	Dec. 31, 2017
Anti-dilutive securities excluded from computation of earnings per share [Line Items]
Number of shares issued to the share depository bank but are treated as escrowed shares	208,100	348,100

EARNINGS PER SHARE (Schedule of Basic and Diluted Earnings Per Share) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Numerator:
Net income from continuing operations		$ 5,096,480	$ 3,199,831	$ 94,482
Net income/(loss) from discontinued operations	$ (75,034,506)	0	31,257,707	(34,792,733)
Total net income/(loss)		5,096,480	34,457,538	(34,698,251)
Less: Net income attributed to noncontrolling interests		3,336,769	0	0
Total net income/(loss) attributed to ReneSola Ltd		1,759,711	34,457,538	(34,698,251)
Numerator for diluted income per share for continuing operations		1,759,711	3,199,831	94,482
Numerator for diluted income/(loss) per share for discontinued operations		$ 0	$ 31,257,707	$ (34,792,733)
Denominator:
Denominator for basic earnings per share - weighted average number of ordinary shares outstanding		380,752,929	246,899,286	202,229,767
Dilutive effects of share options, RSUs and warrants		0	6,003	174,137
Denominator for diluted calculation - weighted average number of ordinary shares outstanding		380,752,929	246,905,289	202,403,904
Continuing operations:
Basic earnings per share from continuing operations		$ 0.00	$ 0.01	$ 0.00
Diluted earnings per share from continuing operations		0.00	0.01	0.00
Discontinued operations
Basic earnings/(loss) per share from discontinued operations		0	0.13	(0.17)
Diluted earnings/(loss) per share from discontinued operations		$ 0	$ 0.13	$ (0.17)

EARNINGS PER SHARE (Schedules of Computation of Diluted Net Earnings/(Loss) Per (Details) - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,460,000	3,491,575	16,585,000
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	10,500,000
Share options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,460,000	3,491,575	6,085,000

RELATED PARTY BALANCES AND TRANSACTIONS (Narrative) (Details) - USD ($)

12 Months Ended

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Debt Instrument, Increase (Decrease), Net

$ 17,300,000

ReneSola Zhejiang Ltd and ReneSola Jiangsu Ltd [Member]

Payments to Acquire Businesses, Gross

11,290,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets

11,290,000

Rene Sola Singapore Pte Ltd [Member]

Debt Instrument, Face Amount

$ 200,000,000

Debt Instrument, Interest Rate, Stated Percentage

1.00%

Payments to Acquire Businesses, Gross

^[1]

$ 11,286,840

$ 0

[1]

In 2018, the Company acquired certain project companies from ReneSola Zhejiang Ltd. and ReneSola Jiangsu Ltd. for total cash consideration of $11.29 million. These acquired project companies substantially only own solar power plants that were already being operated by the Company prior to the acquisition. Under ASU 2017–01 “Clarifying the Definition of a Business,” such acquisition constituted an asset acquisition as substantially all of the consideration for acquiring these assets is concentrated in a single identifiable asset.

RELATED PARTY BALANCES AND TRANSACTIONS (Schedule of Amounts Due to Related Parties Comprised of Amounts Payable to Purchase of Raw Materials and Others) (Details) - USD ($)

Dec. 31, 2018

Dec. 31, 2017

Amounts payable to the purchase of raw materials and others

$ 23,238,984

$ 60,370,065

Rene Sola Singapore Pte Ltd [Member]

Amounts payable to the purchase of raw materials and others

^[1]

$ 23,238,984

$ 60,370,065

[1]

RELATED PARTY BALANCES AND TRANSACTIONS (Schedule of Related Party Transactions) (Details) - USD ($)

12 Months Ended

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Lending to related parties

$ 0

$ 1,624,261

$ 0

Rene Sola Singapore Pte Ltd [Member]

Purchase of modules from

12,466,413

33,238,377

Purchased services related to the construction of project assets

5,168,278

868,158

Borrowing from

^[1]

17,273,194

11,343,739

Lending to related parties

^[2]

1,624,261

Acquire project companies from

^[3]

$ 11,286,840

$ 0

[1]	It represented the borrowings under a loan agreement between the Company (“borrower”) and ReneSola Singapore (the “lender”). The lender grants to the borrower a loan in the principal amount of up to US$200 million with annual interest rate of 1%. There is no fixed repayment schedule of this loan. For such loans during 2018, total principal additions were $17.3 million.
[2]	It represented the loan borrowed by ReneSola Singapore’s subsidiaries bearing no interest. There is no fixed repayment schedule of this loan.
[3]	In 2018, the Company acquired certain project companies from ReneSola Zhejiang Ltd. and ReneSola Jiangsu Ltd. for total cash consideration of $11.29 million. These acquired project companies substantially only own solar power plants that were already being operated by the Company prior to the acquisition. Under ASU 2017–01 “Clarifying the Definition of a Business,” such acquisition constituted an asset acquisition as substantially all of the consideration for acquiring these assets is concentrated in a single identifiable asset.

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Financings With Failed Sale-Lease Back Transactions [Member] \| ReneSola Investment [Member]
COMMITMENTS AND CONTINGENCIES [Line Items]
Guarantor Obligations, Current Carrying Value	$ 18,256,841	$ 26,755,960

COMMITMENTS AND CONTINGENCIES (Operating lease commitments) (Details)	Dec. 31, 2018 USD ($)
Long-term Purchase Commitment [Line Items]
2018	$ 3,004,314
2019	3,638,224
2020	3,507,783
2021	2,481,946
2022	2,774,093
2023 and later	43,919,102
Total lease payments	$ 59,325,462

SEGMENT REPORTING (Schedule of the Company's Revenues Generated from Each Segment) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Company's revenues generated from each segment [Line Items]
Net revenue	$ 96,906,335	$ 102,973,999	$ 80,504,734
Gross profit	28,069,747	14,131,755	7,232,881
Operating segment [Member]
Company's revenues generated from each segment [Line Items]
Net revenue	96,906,335	102,973,999	80,504,734
Gross profit	28,069,747	14,131,755	7,232,881
Solar power project development [Member] \| Operating segment [Member]
Company's revenues generated from each segment [Line Items]
Net revenue	48,784,766	64,837,042	77,372,737
Gross profit	7,052,170	3,575,775	6,432,290
Electricity generation revenue [Member] \| Operating segment [Member]
Company's revenues generated from each segment [Line Items]
Net revenue	29,257,928	12,247,320	3,131,997
Gross profit	17,673,474	7,031,670	800,591
EPC services [Member] \| Operating segment [Member]
Company's revenues generated from each segment [Line Items]
Net revenue	18,544,164	25,853,288
Gross profit	3,329,402	3,524,310
Other [Member] \| Operating segment [Member]
Company's revenues generated from each segment [Line Items]
Net revenue	319,477	36,349	0
Gross profit	$ 14,701	$ 0	$ 0

SEGMENT REPORTING (Schedule of the Company's Revenues Generated by Geographic Location of Customers) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 96,906,335	$ 102,973,999	$ 80,504,734
CHINA
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	45,395,811	67,533,887	0
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	15,445,744	18,323,947	0
JAPAN
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	0	0	9,175,391
BULGARIA
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	0	0	652,559
ROMANIA
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	1,824,411	4,844,238	2,393,030
England [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	31,169,458	7,271,370	68,283,754
TURKEY
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	2,129,085	4,995,648	0
FRANCE
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 941,826	$ 4,909	$ 0