US Based Solar Energy Leader: Sunrise to Sunset Growth

Since its' inception in 1999, First Solar, Inc. has drawn attention to the solar renewable energy sector and continues to demonstrate a bright future, especially now in creating jobs and manufacturing capacity as market demand grows.

In a recent announcement, the Tempe, Arizona based company will open two new manufacturing facilities, one in the U.S. and one in Vietnam that are expected to open in 2012.

Each plant will create approximately 600 new green jobs, and additionally 1,000 construction jobs will be generated through the installation of solar power plants from the company’s 2.2 GW North American project pipeline. In a company announcement, CEO Rob Gilette stated, “These expansions provide proximity to growing U.S. demand while supporting our roadmap to drive down the cost of clean, sustainable solar electricity.”  Following is a brief company profile.

Company Profile

Stock Price. NASDAQ: FSLR, 4-year stock growth from IPO to present:

11/17/2006: $20.00

11/30/2010: $122.85

Number of worldwide employees. 5,500+

Key Attributes

Technology. Advanced thin film photovoltaic process technology using cadmium telluride (CdTe) as the semiconductor material produces optimal results even in weather variations such as cloudy days. In addition, when compared to crystalline installations, CdTe thin film modules show 3.2-5.7% increase in annual generation, depending on location and system design.

Environmental Impact. At least 89% of air emissions associated with electricity generation could be prevented if electricity from photovoltaics displaced electricity from the grid (Fthenakis, Vasilis, et al., February 2008) according to the team of three researchers, who published these emissions results in Environmental Science & Technology.

Productivity. First Solar’s automated continuous thin-film process from glass to solar module takes less than 2.5 hours.  Its’ 3-step manufacturing technology process is more efficient compared to conventional crystalline 5-step batch process.

Competitive Advantage. As the lowest cost provider of solar energy, due to its ownership and development of technologies, First Solar has improved its cost per watt from $1.08 in 2008 to $.77 in the third quarter 2010. Its’ projected cost/watt goal is $.52 - $.63 by 2014.