First Solar, an American solar technology company, celebrated its 25th anniversary in February 2024, marking a significant milestone as one of the world's oldest solar module manufacturers. The company's 2023 Annual Report highlighted a successful year with a record income per diluted share of $7.74, a substantial increase from the previous year's loss of $0.41 per share. First Solar ended the year with a gross cash balance of $2.1 billion, despite capital expenditures for expanding manufacturing capacity in Alabama, Ohio, Louisiana, and India. The company's contracted backlog reached historic levels, with 78.3 gigawatts (GW) valued at $23.3 billion, and an additional 1.8 GW of contracts secured post-2023. Production reached a record 12.1 GW, a 33% increase over 2022, with plans to expand US nameplate capacity to 14 GW and...Show More

First Solar, an American solar technology company, celebrated its 25th anniversary in February 2024, marking a significant milestone as one of the world's oldest solar module manufacturers. The company's 2023 Annual Report highlighted a successful year with a record income per diluted share of $7.74, a substantial increase from the previous year's loss of $0.41 per share. First Solar ended the year with a gross cash balance of $2.1 billion, despite capital expenditures for expanding manufacturing capacity in Alabama, Ohio, Louisiana, and India. The company's contracted backlog reached historic levels, with 78.3 gigawatts (GW) valued at $23.3 billion, and an additional 1.8 GW of contracts secured post-2023. Production reached a record 12.1 GW, a 33% increase over 2022, with plans to expand US nameplate capacity to 14 GW and global capacity to 25 GW by 2026. First Solar's investments in R&D and new technologies, such as the world's first bifacial thin film solar panel, continue to drive innovation. The company also addressed challenges in the policy environment, calling for measures to ensure a level playing field against subsidized Chinese manufacturing. The report emphasized First Solar's economic impact in the US, supporting over 16,000 jobs in 2023, with projections to support approximately 30,000 jobs by 2026. The company remains focused on leading the sustainable energy future, with goals to serve all addressable markets and commercialize the next generation of photovoltaic technology.