refinishing rustic cedar siding that has penofin on it

[mlroot 14]

I own a home in Boulder CO that has rustic cedar channel siding on it, about 28 years old. It has been stained several times with penofin after powerwashing. I would like to strip it out and refinish in a lighter color and am wondering what to use in terms of materials and process. Any advice is very welcomed. The South exposure is the worst, with quite a lot of darkened wood.

I will be doing this job myself and am fairly good at projects, but lacking in specific expertise.

Edited January 19, 2009 by mlroot