First Solar

First Solar, Inc.
FormerlyFirst Solar Holdings, Inc. (1999–2006)
Company typePublic
IndustryPhotovoltaics
Founded1999; 25 years ago (1999)
Headquarters
Tempe, Arizona
,
U.S.
Key people
Michael J. Ahearn (chairman of the supervisory board)
Mark Widmar (CEO)
RevenueIncrease US$3.58 billion (FY 2015)
Increase US$516.66 million (FY 2015) [1]
Increase US$546.42 million (FY 2015)
Total assetsIncrease US$7.32 billion (FY 2015)
Total equityIncrease US$5.55 billion (FY 2015
Number of employees
6,400[2] (2020)
Websitefirstsolar.com

First Solar, Inc. is a publicly traded American manufacturer of solar panels, and provider of utility-scale PV power plants, supporting services that include finance, construction, maintenance and end-of-life panel recycling. First Solar uses rigid thin-film modules for its solar panels, and produces CdTe panels using cadmium telluride (CdTe) as a semiconductor.[3] The company was founded in 1990 by inventor Harold McMaster as Solar Cells, Inc. and the Florida Corporation in 1993 with JD Polk. In 1999 it was purchased by True North Partners, LLC, who rebranded it as First Solar, Inc.

The company went public in 2006, trading on the NASDAQ. Its current chief executive is Mark Widmar, who succeeded the previous CEO James Hughes July 1, 2016.[4] First Solar is based in Tempe, Arizona.

In 2009, First Solar became the first solar panel manufacturing company to lower its manufacturing cost to $1 per watt.[5] As of 2022, First Solar was considered the fourth-largest solar company on American stock exchanges by 12-month trailing revenue[6] and in 2012 was ranked sixth in Fast Company's list of the world's 50 most innovative companies.[7]

In 2011, it ranked first on Forbes's list of America's 25 fastest-growing technology companies.[8] It is listed on the Photovoltaik Global 30 Index since the beginning of this stock index in 2009. The company was also listed as No. 1 in Solar Power World magazine's 2012 and 2013 rankings of solar contractors.[9]

  1. ^ "First Solar 10-K report 2015". Securities and Exchange Commission. Retrieved November 4, 2016.
  2. ^ "First Solar". Fortune. Archived from the original on December 24, 2018. Retrieved August 17, 2019.
  3. ^ Matthew Lynley (May 16, 2011). "Are solar panel manufacturing component prices falling fast enough?". GreenBeat. Retrieved July 26, 2011.
  4. ^ "First Solar Appoints James Hughes CEO". Archived from the original on May 13, 2012. Retrieved May 4, 2012.
  5. ^ Alex Hutchinson (February 26, 2009). "Solar Panel Drops to $1 per Watt: Is this a Milestone or the Bottom for Silicon-Based Panels?". Popular Mechanics. Retrieved August 17, 2019.
  6. ^ "10 Biggest Solar Companies". Investopedia. Retrieved June 14, 2023.
  7. ^ Anya Kamenetz (February 17, 2010). "Most Innovative Companies". Fast Company. Retrieved July 26, 2011.
  8. ^ John J. Ray (February 16, 2011). "America's 25 Fastest-Growing Tech Companies". Forbes. Retrieved July 26, 2011.
  9. ^ Solar Power World