First Solar Expands Panel Manufacturing as U.S. Demand Grows

July 31, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona), which manufactures photovoltaic (PV) panels and other solar equipment, enjoyed sunny results for the second quarter, and is weighing up to $1.1 billion of investment toward a fifth U.S.-based manufacturing facility. Industrial Info is tracking more than $13 billion worth of solar-generation projects nearing or under construction across the U.S. that will use, or are considering using, First Solar's panels. Industrial Info also is tracking progress at First Solar's three operational manufacturing facilities in the U.S., as well as another planned for Alabama. Details are sparse about First Solar's newly proposed manufacturing facility, with no site yet selected. Executives say the project would add 3.5 gigawatts (GW) to First Solar's nameplate manufacturing capacity by 2026, for a total production capacity of 14 GW in the U.S. and 25 GW globally. These numbers assume First Solar's thin-film solar module plant in Trinity, Alabama, which was announced last November, is completed as currently scheduled in 2025. Other companies featured: Energias de Portugal S.A. and Energix Renewables