First Solar outpaces expectations
First Solar outpaces
expectations
by Jill McGraw
Figure 1. Manufacture of an FS series 2 PV module. Figure 2. First Solar manufacturing in Frankfurt (Oder), Germany.
PV (photovoltaic) solar cell revenue will duced 1GW of solar electricity. By the end milestone in the solar industry toward pro-
decrease 1% from $16 billion in 2008 due of 2009, its capacity will increase to more viding an affordable solar energy solution
to short-term average selling price declines, than 1GW per year, the company stated. with solar modules manufactured at a cost
reported research firm Gartner Inc. in Over time, as manufacturing knowl- of just $0.98 per watt.
March. However, it expects PV revenue edge grows, production capacities are im- Breaking the $1 per watt barrier was a
to grow at compound annual rate of 17% proving for many solar companies. It took worldwide goal for the industry at large as
from 2008 to 2013, reaching $34 billion by First Solar more than six years to produce well. “The solar industry has been aiming
2013, the report said. 500MW of electricity and eight additional at this goal for the past 25 years, and now
The lack of credit support, customers months to reach the 1GW mark. When it has been met by First Solar,” said Ken
suffering from currency fluctuation, and the pace reaches the 1GW per year capacity Zweibel, director of the Institute for the
general uncertainty have hurt PV vendors. late this year, First Solar’s electrical produc- Analysis of Solar Energy at George Wash-
The demand for green energy sources tion from solar cell conversion rate will ington University. First Solar is the lowest
is growing while PV module prices are rival that of an average-size nuclear plant. cost practical manufacturer at 98 cents
shrinking due to improved manufacturing “This volume allows us to rapidly per watt, and SunPower reports being the
technologies and lowered raw materials reduce manufacturing costs, thereby fur- highest solar converting efficiency at about
cost. On a gigawatt basis, Gartner predicts thering our mission of making solar power 20%, according to the latest news. After
that the PV market will climb 24% in an affordable alternative to conventional producing approximately 10 million mod-
2009, reaching production of 6.4 GW. By energy sources,” said Bruce Sohn, presi- ules for sunlight conversion, First Solar has
2013, Gartner expects the PV market to dent. “We appreciate the many contribu- leap-frogged novice competitors by sheer
reach 23.4 GW. tions our associates have made in reaching experience in the field.
this 1GW milestone and are grateful for all “In order to address climate change
First solar breakthroughs their hard work.” in a meaningful way, we need energy tech-
Amidst a shrinking economy and slower Volume represents only one barrier nologies that are affordable, scalable, and
than the normal double-digit growth, that it has broken recently. In February, have a low environmental impact on a life-
Tempe, Ariz.-based First Solar, Inc. (www. First Solar announced that the company cycle basis. With this announcement First
firstsolar.com) announced that it has pro- had reached the $1 per watt price barrier, a Solar continues to demonstrate the ability
18 – Global Solar Technology – March/April 2009 www.globalsolartechnology.com
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