From pv magazine USA
First Solar, a manufacturer of US-made solar panels, posted $548 million in first-quarter revenue, about 26% lower than the market consensus of $743 million.
First Solar executed 9.9 GW of contracts and recognized 1.9 GW of volume sold, resulting in a total backlog of 69.4 GW, with an aggregate value sold of $20.4 billion, which implies approximately $0.293/W, an increase of approximately half a penny per watt from fourth quarter of 2022.
During the quarter, First Solar produced 2.36 GW of Series 6 panels, whose average watts per module was 467 W.
Production of Series 7 modules began in January 2023 with 170 MW of modules produced. The company said it recently demonstrated high-volume manufacturing production capable of up to 10,000 modules per day at its third Ohio facility, which houses Series 7 module production. The demo rate is 60% of nameplate throughput capacity, with panels achieving top bin production at 535 W.
Shipments of Series 7 modules, which used all-US glass and steel components, are on track to begin as early as June 2023, Widmer said in prepared remarks. Outside of the United States, First Solar is also expected to begin production in Chennai, India at a 3.54 GW nameplate facility in the second half of 2023 as well.
The company’s cadmium-telluride technology certified a new record in the first quarterk, with a conversion efficiency of 22.3%.
ERS Infrastructure, a Canadian investment firm, is a renewable energy development company that owns and operates 25 projects across nine US states with about 2.7 GW of generating capacity.
To continue reading, please visit our pv magazine USA website.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.