First Solar, Inc. (Nasdaq: FSLR) today announced that it has achieved 10
gigawatts (GW) of photovoltaic (PV) solar capacity installed globally,
making it the first thin film PV module manufacturer in the world to
achieve this milestone. The announcement was made at the start of the
World Future Energy Summit in Abu Dhabi, where First Solar is showcasing
a comprehensive range of solar energy solutions.
Founded in 1999, First Solar made its first commercial shipment in 2002,
and since then its advanced thin film modules have been used in a wide
range of applications, from kilowatt-scale mini-grid and rooftop
applications, to multi-megawatt utility scale solar energy plants. With
enough modules installed worldwide to circle the planet three-and-a-half
times, First Solar’s 10GW of installed capacity produces an estimated
14,000 gigawatt hours (GWh) a year. This is equivalent to the annual
energy consumption of the city of Washington, D.C. It is also sufficient
to power five million average households and displaces the need for as
many as 20 average coal-powered plants.
“This is much more than just a celebration of First Solar’s track record
and the trust that our customers have placed in our technology. This
milestone is a clear indication that solar is no longer a subsidy-driven
extra; it has evolved into a valued component of the global generation
portfolio, able to hold its own in terms of cost competitiveness and
energy yield,” said James Hughes, Chief Executive Officer, First Solar,
Inc. “Thanks to our commitment to continuous improvement, we have been
able to contribute towards the global transition to renewables by
offering our customers solutions to their very specific energy
challenges.”
Significantly, with the smallest carbon footprint of all solar
technologies, First Solar’s installed capacity displaces an estimated
seven million metric tons of carbon dioxide per year, or the equivalent
of planting 180 million trees. Additionally, with the lowest water use
on a lifecycle basis, the use of First Solar’s advanced thin film
modules helps displace an estimated 18 billion liters of water per year,
sufficient to fill 7,000 Olympic-sized swimming pools.
A fully vertically integrated solar energy company, First Solar is the
global leader in PV research and development (R&D), consistently
accounting for the industry’s largest spend in the area1. It
was also ranked as the world’s largest solar engineering, procurement
and construction (EPC) contractor2 in 2014, and has been
entrusted with building some of the world’s largest solar power plants
such as Agua Caliente (290MW) and the Topaz Solar Farm (550MW) in the
U.S. and Luz del Norte (141MW) in Chile. Additionally, with a portfolio
of over 2GW, First Solar is also the industry’s operations and
maintenance (O&M) services leader.
Editors’ Notes:
1. Source: PV Tech’s Top Module Manufacturers R&D Spending
2. Source: IHS Technology’s EPC and Integrator Market Share and Project
Market Tracker
About First Solar, Inc.
First Solar is a leading global provider of comprehensive photovoltaic
(PV) solar systems which use its advanced thin-film modules. The
company’s integrated power plant solutions deliver an economically
attractive alternative to fossil-fuel electricity generation today. From
raw material sourcing through end-of-life module recycling, First
Solar’s renewable energy systems 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 safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements include statements, among
other things, concerning: our business strategy, including anticipated
trends and developments in and management plans for our business and the
markets in which we operate; future financial results, operating
results, revenues, gross margin, operating expenses, products, projected
costs, warranties, solar module efficiency and balance of systems
("BoS") cost reduction roadmaps, restructuring, product reliability and
capital expenditures; our ability to continue to reduce the cost per
watt of our solar modules; our ability to reduce the costs to construct
photovoltaic ("PV") solar power systems; research and development
programs and our ability to improve the conversion efficiency of our
solar modules; sales and marketing initiatives; and competition. These
forward-looking statements are often characterized by the use of words
such as "estimate," "expect," "anticipate," "project," "plan," "intend,"
"believe," "forecast," "foresee," "likely," "may," "should," "goal,"
"target," "might," "will," "could," "predict," "continue" and the
negative or plural of these words and other comparable terminology.
Forward-looking statements are only predictions based on our current
expectations and our projections about future events. You should not
place undue reliance on these forward-looking statements. We undertake
no obligation to update any of these forward-looking statements for any
reason. These forward-looking statements involve known and unknown
risks, uncertainties, and other factors that may cause our actual
results, levels of activity, performance, or achievements to differ
materially from those expressed or implied by these statements. These
factors include, but are not limited to, the matters discussed in Item
1A: "Risk Factors," of our Annual Report on Form 10-K for the year ended
December 31, 2013, Quarterly Reports on Form 10-Q, Current Reports on
Form 8-K and other reports filed with the SEC.
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