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news digest ♦ Solar


production cost per watt. This when combined with a panel design that uses less overall materials for production and installation will enable the company to surpass the $.60 per Watt cost threshold within the next several years. Nanosolar will reach an annual production capacity of 115 megawatts by Fall 2011, and expects to at least double capacity each year thereafter.


“Nanosolar’s industrial printing approach to manufacturing its utility-scale panel combined with its lower balance-of-systems costs will allow solar to be cost competitive with fossil fuels,” said Bernhard Beck, CEO Belectric. “We look forward to combining Belectric’s state-of-the-art, low-cost installation methods with the Nanosolar Utility Panel to further drive down the cost of solar power plants.”


“Nanosolar takes great pride in its commitment to working closely, effectively and in complete collaboration with strategic partners,” said Geoff Tate, CEO of Nanosolar. “We are honoured to sign long-term agreements with three of the world’s leading thin film solar power plant developers, and consider it a validation of our pledge to enable them to better compete within global energy markets.”


First Solar profits down due to low prices


Year over year, the net income decrease was primarily driven by reduced average selling prices and higher expenses, partially offset by increased module production and lower module cost per watt.


First Solar has announced its financial results for the first quarter of 2011.


systems projects in order to meet the project contractual delivery schedules, seven fewer production days, and a full quarter impact of the pricing change implemented in December of 2010. Quarterly net sales decreased slightly from $568 million in the first quarter of 2010, primarily due to lower average selling prices.


First quarter net income per fully diluted share was $1.33, down from $1.80 in the fourth quarter of 2010 and $2.00 in the first quarter of 2010. Quarter over quarter, the net income decrease was primarily driven by lower net sales and gross margin. Year over year, the net income decrease was primarily driven by reduced average selling prices and higher expenses, partially offset by increased module production and lower module cost per watt.


“Despite European market uncertainties, First Solar has good visibility into our demand for 2011,” said Rob Gillette, CEO of First Solar. “We continue to execute our cost roadmaps, invest in new module capacity, build our project pipeline and develop promising new markets around the world.”


First Solar has updated its 2011 guidance and expects net sales of $3.7 to $3.8 billion with an operating income of $900 to $970 million. Earnings per fully diluted share are expected to be $9.25 to $9.75. Manufacturing start-up expenses are anticipated to be $50 to $60 million and $10 to $15 million factory ramp costs. Total capital spending is anticipated to be $1.0 to $1.1 billion and operating cash flow, $0.8 to $1.0 billion.


ORNL solar cell technology cranks up efficiency


The structure consists of n-type zinc oxide nanocones surrounded by a p-type polycrystalline CdTe semiconductor. The n-type nanoncones serve as the junction framework and the electron conductor while the p-type matrix is the primary photon absorber medium and hole conductor.


Net sales were $567 million in the quarter, a decrease of $42.5 million from the fourth quarter of 2010, due to the allocation of modules to our


170 www.compoundsemiconductor.net October 2011


With the creation of a 3-D nanocone-based solar cell platform, a team led by Oak Ridge National Laboratory’s Jun Xu has boosted the light-to-power conversion efficiency of photovoltaics by nearly 80 percent.


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