First Solar, Inc. Solar Photovoltaic Market Analysis

April 27, 2009 - PRLog -- First Solar, Inc., a leading thin-film module manufacturer in the US has made a mark for itself in the US Solar Photovoltaic (PV) Market. The company was incorporated in 1999 with headquarters in Phoenix, the US. The common stock of the company is traded on the NASDAQ Stock Market under the symbol FSLR. The company’s modules utilize a thin layer of cadmium telluride semiconductor material for the purpose of converting sunlight into electricity. First Solar’s expertise of manufacturing low cost thin-film solar modules without the use of crystalline silicon has given the company a competitive edge in the solar module market. This is indicative from its latest fourth quarter results wherein the company announced the reduction in the manufacturing cost for solar modules to 98 cents per watt, breaking the $1 per watt price barrier. According to the statement of Mike Ahearn, First Solar Chief Executive Officer, this achievement of the company marks a milestone in the solar industry’s evolution toward providing truly sustainable energy solutions. By providing clean and cost-effective solar energy source, First Solar offers an economic and environmentally responsible alternative to the existing fossil-fuel electric generation.

First Solar, Inc. is focused on providing renewable energy solutions to protect and enhance the environment. For this, the company has set the benchmark for environmentally responsible product life cycle management by introducing the industry's first comprehensive collection and recycling program for solar modules. As per the Pre-funded Collection and Recycling Program, anyone in possession of a First Solar module can participate in the program and request that modules be collected for recycling at any time. First Solar finances the cost of the program by pre-funding the expected future costs in a protected account. The recycling process enables all components of the solar module to be treated and processed into new modules or other products. By implementing collection and recycling programs, First Solar is preventing the modules from entering the waste stream of local communities. The entire process enables the company to create a perpetually sustainable cycle that continually reduces hazardous air emissions and removes solid waste from the environment. In this way, the company manages the product life cycle, from raw material sourcing through end of life collection and recycling. This program rightly substantiates the mission of the company ‘to create enduring value by enabling a world powered by clean, affordable solar electricity’.

The company principally operates in North America, Europe and Asia. The fundamental business of the company is to provide solar modules to large scale, grid-tied Free Field solar power plants Commercial Rooftop Systems, and Residential Rooftop Systems. The total thin film solar modules manufacturing capacity of the company have expanded to an expected 735 MW in 2008. The company has supplied solar modules to the major solar parks located in the US and Germany. Köthen Solar Park (15 MW), Michelin Solar Park (9 MW) in Germany and El Dorado Energy Solar Project (10 MW), Springerville Generating Station (4.59 MW) in the US are among the largest solar parks where the company’s modules are installed. The company has also delivered solar modules to many other smaller solar parks in Germany, Spain, Italy, the US and Korea with capacity ranging between 0.001 MW - 6 MW. The company has rightly leveraged the opportunities offered by the German and the US market to benefit the company in terms of greater profits. This is reflected in the inclining trend in the company’s revenues with $1,246.3 million recorded in the fiscal year ending December 27, 2008 up from $504.0 million in fiscal year 2007

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The report provides key information relating to operations of the company in the Solar Photovoltaic industry, and financial, SWOT and value chain analysis of the company. It also provides the market share and installations of First Solar, Inc. across leading countries globally

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