First Solar - statistics & facts
First Solar is a manufacturer of low-cost, thin-film solar panels, developer of large-scale solar farms, and an operations and maintenance service provider. The United States-based company is the leading producer of thin-film solar panels worldwide, accounting for roughly 45 percent of the market for this solar technology. In 2024, First Solar ranked as the leading solar company based on market capitalization worldwide.
First Solar was established out of Solar Cells Inc. in 1999, rebranding as First Solar Inc.. It began producing commercial products in 2002 and in the 2010s became one of the largest solar manufacturers in the world. The company specializes in cadmium telluride photovoltaic technology.
First Solar's financial standing
In the fiscal year 2023, First Solar's operating income was 857.3 million U.S. dollars, the highest value registered in the last years. Uncertainty over expiration of government subsidies, tax incentives, and other financial support for renewable energy adoption greatly shape First Solar’s performance. This is particularly true for large markets such as the United States, Japan, France, and India, which are among First Solar’s main sales regions. Nevertheless, the company is among the leading solar energy companies worldwide. In 2023, First Solar's net sales reached 3.3 billion U.S. dollars.Photovoltaic (PV) solar energy solutions
First Solar primarily manufactures cadmium telluride-based photovoltaic modules and has created new technologies that have broken several solar efficiency records. First Solar’s research and development expenditures have jumped in recent years, increasing the efficiency of the company’s thin-film module technologies. Cadmium telluride solar cells are a type of thin-film solar cell and manufactured by First Solar using 30 different types of raw materials. In order to reduce its waste footprint, the company became the first within the industry to introduce a module collection and recycling program.First Solar was established out of Solar Cells Inc. in 1999, rebranding as First Solar Inc.. It began producing commercial products in 2002 and in the 2010s became one of the largest solar manufacturers in the world. The company specializes in cadmium telluride photovoltaic technology.
