America's First Solar Invests up to $1.2 Billion in Scaling Manufacturing by 4.4 GW

Sep 1, 2022 05:17 PM ET
  • First Solar, a US-based producer of solar panels, has introduced strategies to invest approximately $1.2 billion in increasing the production of photovoltaic (PV) solar modules that are made in America and also are properly produced.

By 2025, the financial investment is anticipated to increase the firm's capacity to manufacture solar modules constructed in the United States for the US solar market to over 10 gigawatts (GW) DC.

First Solar, a US-based maker of solar panels, has introduced plans to invest as much as $1.2 Billion in scaling the production of photovoltaic or pv (PV) solar modules that are made in America and are responsibly generated. By 2025, the financial investment is anticipated to raise the firm's capacity to manufacture solar modules built in the US for the United States solar market to over 10 gigawatts (GW) DC.

Upgradation & Upscaling in the Offing

The company intends to create its fourth fully vertically incorporated domestic manufacturing facility, with an annual capacity of 3.5 GWDC, in the United States Southeast as part of its push to increase up United States manufacture of solar modules. First Solar additionally prepares to invest as much as $1 billion in the new facility, which is anticipated to start operations in 2025 subject to permits and also the approval of countless federal, state, local, and also community incentives.

First Solar will certainly also spend an additional $185 million to upgrade and also add 0.9 GW-DC to its Northwest Ohio manufacturing footprint, which is currently the most significant vertically incorporated facility of its kind in the Western Hemisphere.

First Solar will certainly invest to increase the capacity of its two functional sites in Perrysburg and Lake Township, Ohio, by 0.6 GW-DC to 3.6 GW-DC of annual Series 6 module capacity, as part of its goals. The company will also raise the capacity of its 3rd Ohio manufacturing facility, which is prepared for to be operational in the very first fifty percent of 2023, to 3.5 GW-DC annually for Series 7 modules. By 2025, First Solar will have invested more than $3 billion in its Ohio making sites, with a cumulative annual production capacity of more than 7 GW-DC

By 2025, First Solar anticipates the additional investment to create at least 850 new manufacturing jobs, bringing its complete number of straight employment in the United States to over 3,000 throughout four states, making it the largest employer in the US solar manufacturing industry. As a result of its present as well as approaching production procedures, First Solar is likewise prepared for to support an estimated 15,000 indirect as well as caused jobs by the year 2025.

First Solar stated a document bookings backlog of 44.3 GW-DC on its newest revenues get in touch with July 28, 2022. Its thin-film PV modules are created as well as developed at its R&D centers in California and Ohio, and they are market leaders in regards to efficiency in regards to design, quality, stability, durability, and also the environment.

Solar Installers, Manufacturers