Tuesday, February 24, 2009

$1/watt Panels!!

FIRST SOLAR PASSES $1 PER WATT INDUSTRY MILESTONE
Company Cuts Manufacturing Cost to 98 Cents Per Watt in Fourth Quarter

TEMPE, Ariz.--(BUSINESS WIRE)--Feb. 24, 2009-- First Solar, Inc. (Nasdaq: FSLR) today announced it reduced its manufacturing cost for solar modules in the fourth quarter to 98 cents per watt, breaking the $1 per watt price barrier.

“This achievement marks a milestone in the solar industry’s evolution toward providing truly sustainable energy solutions,” saidMike AhearnFirst Solar chief executive officer. “First Solar is proud to be leading the way toward clean, affordable solar electricity as a viable alternative to fossil fuels.”

First Solar began full commercial operation of its initial manufacturing line in late 2004. From 2004 through today, manufacturing capacity has grown 2,500 percent to more than 500 megawatts in 2008. First Solar’s annual production capacity will double in 2009 to more than 1 gigawatt, the equivalent of an average-sized nuclear power plant. These escalating volumes have been accompanied by a rapid reduction in manufacturing costs. From 2004 through today, First Solar’s manufacturing costs have declined two-thirds from over $3 per watt to less than $1 per watt. First Solar is confident that further significant cost reductions are possible based on the yet untapped potential of its technology and manufacturing process.


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