First Solar Breaks $1 per Watt Cost Barrier!

Dennis M. — Wed, 25 Feb 2009 00:21:59 +0000

The US-based, thin-film solar company, First Solar, just became the first solar company to lower its costs per watt below $1. After starting out with typical costs ~$3 per watt back in 2004, the company has achieved economies of scale and other advances to lower their costs more than 67%. Their production capacity has expanded rapidly to more than 500 MW by the end of 2008. They intend to double their capacity again in 2009 to greater than 1 GW (ranking with the top solar companies worldwide).

As I blogged a couple weeks back, First Solar has long held some of the lowest costs in the business. And based on their last press release, their costs fell more than 15% in the fourth quarter alone. Now they are within striking distance of competing with conventional power without substantial subsidies.

And unlike many of its competitors, First Solar maintained rapid revenue growth in the financial crisis-ridden fourth quarter over the third quarter and the fourth quarter of 2007.

Nice work, First Solar, and here’s to other solar companies continuing to lower their costs to make solar energy affordable enough to achieve its vast potential!

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First Solar Breaks $1 per Watt Cost Barrier!