With the solar plays back into fashion, make sure you take a look at SOL. ReneSola, Ltd., through its subsidiaries, engages in the manufacture and sale of solar wafers and related products in China. It offers feedstock, ingots, and wafers for the solar industry. The company sells solar wafers to Chinese and international PV cell manufacturers. SOL supplies thin sheets of crystalline silicon to customers including: JA Solar (JASO), Motech, Solarfun (SOLF), and Suntech Power (STP). This is a recent IPO which became public during the markets downturn. It priced at $13 (only 10 million shares) and on Wed (February 13), it had the second highest volume day ever and gained over 15%. SOL is by far the CHEAPEST solar play out there based on PE ratio. Current earnings run rate of about $1 per share (based on Q4 2007 projections of $.23 - $.27) and it should earn $2 per share in 2008. If SOL had same forward PE as JASO, it would be valued near $60! Cash and inventories at about $4 per share (ADS). SOL fair value = $4 + 30 PE X $1 current earnings run rate = $34 This is a very solid company that trades on the NYSE (not some OTC:BB or AMEX stock). Once the word gets out, and the bigger money comes in, expect SOL to get near the $20-$22 mark very quickly.