TEMPE, Ariz.--(BUSINESS WIRE)--First Solar, Inc. (NASDAQ: FSLR) today announced cumulative production has reached 5 gigawatts (GW), or 66 million solar modules, capable of generating enough clean electricity to power approximately 2.5 million homes. The company began commercial production in 2002 and has since grown to become one of the world’s largest solar module manufacturers, with 36 production lines on three continents.
“This milestone helps advance our mission of providing clean solar electricity at affordable prices. Our ability to scale high-volume production has been a key factor in reducing the cost of renewable energy,” said Tymen DeJong, First Solar Senior Vice President of Global Manufacturing.
First Solar recently announced that implementing technologies and processes derived from its research and development (R&D) program produced a world-record 17.3 percent efficient cadmium telluride solar cell in July, resulting in average module conversion efficiency of 12.4 percent from its best-performing production lines during the third quarter.
Efficiency gains have also enabled the company to begin production of 87 watt modules, which produce higher amounts of electricity when installed in the field.
Five GW of solar generation displaces 3.3 million metric tons of CO2e annually, the equivalent of taking 650,000 average cars off the road or planting 84 million trees each year.
On a life cycle basis, systems using First Solar modules also have the lowest carbon footprint and fastest energy payback time—the amount of time a system must operate to recover the energy that was required to produce it—of any other photovoltaic technology. This enables systems using First Solar modules to provide the greatest and fastest environmental benefits.
About First Solar, Inc.
First Solar manufactures solar modules with an advanced semiconductor technology, and is a premier provider of comprehensive photovoltaic (PV) system solutions. The company is delivering an economically viable alternative to fossil-fuel generation today. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating value-driven renewable energy solutions that protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com.
For First Solar Investors
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.