- Executing to industry’s most
disruptive technology roadmap
- More efficient than the best
multi-PERC module
First Solar, Inc. (Nasdaq: FSLR) today announced it has set yet
another world record for cadmium-telluride (CdTe) photovoltaic (PV)
module conversion efficiency, achieving 18.6 percent aperture
efficiency for an advanced full size module. For the first time
ever, First Solar has demonstrated a record module that is more
efficient than the best multi-crystalline module recorded.
This achievement reinforces confidence in First Solar’s ability
to deliver sustained product improvements consistent with its
long-term technology roadmap.
The record has been measured and certified by the U.S.
Department of Energy’s National Renewable Energy Laboratory
(NREL).
This 18.6 percent aperture area efficiency corresponds to a full
area conversion efficiency of 18.2 percent, which easily beats the
best recorded multi-crystalline Si PERC module with an approximate
full area efficiency of 17.7% (based on 19.1% aperture efficiency
and published module area data).
This achievement is the eighth substantial update to CdTe record
efficiency since 2011, continuing a disruptive and sustained trend
of rapid performance improvements. In January, First Solar produced
a research cell with 21.5 percent conversion efficiency, certified
at the Newport Corporation’s Technology and Applications Center
(TAC) PV Lab and confirmed by NREL.
“First Solar’s CdTe thin film is now rightly categorized as a
high performance product,” said Raffi Garabedian, First Solar’s
Chief Technology Officer. “At one time, we might have been
characterized as a low cost, low efficiency technology, but
consistent with our technology projections we are now proving that
CdTe thin film delivers both industry-leading performance AND
sustainable thin-film cost structures.”
Garabedian emphasized that First Solar’s significant sustained
investment in development of CdTe technology has enabled the
company to meet or exceed its aggressive projections for
improvements in research cells and modules, as well as
commercialized technology.
“While silicon technologies have approached their theoretical
efficiency entitlement and leveled out in terms of performance and
cost, First Solar continues to harvest the upside available from
its superior thin film technology. Our CdTe modules are now more
efficient than the best multi-crystalline Si modules, and we still
have a great deal of technology head room for further innovation,”
Garabedian said.
Nick Strevel, First Solar’s Senior Manager of Technology, noted
that efficiency combined with other real-world performance
attributes result in First Solar technology delivering higher
energy density than multi-crystalline Silicon (m-Si) solar panels.
Given the same installed nameplate module capacity (Watts) with
equivalent ground coverage ratio, he said, First Solar’s CdTe
product will provide up to 8 percent more useable energy from the
same land area than m-Si, which gives First Solar a competitive
advantage over other PV technologies.
“A narrow focus on simple metrics such as
standard-test-condition (STC) efficiency or cost per STC-watt
obscures the actual value of solar generation technologies,” said
Strevel. “Customers value energy produced by a solar power plant
(kWh), not its nominal STC power rating. Metrics with greater
relevance to real-world conditions – including specific energy
yield, energy density, cost/kWh and long term reliability –
ultimately tell a much more comprehensive story of real-world
performance and are more influential in reducing Levelized Cost of
solar Electricity.”
Strevel said that, in addition to the continued
trend of efficiency records, First Solar’s modules are amongst the
highest quality, most reliable modules in the world, having passed
the industry’s most rigorous multi-stress testing protocols such
including Atlas 25+, IEC Long Term Sequential and Thresher
Tests.
About First Solar, Inc.
First Solar is a leading global provider of comprehensive
photovoltaic (PV) solar systems which use its advanced module and
system technology. The company’s integrated power plant solutions
deliver an economically attractive alternative to fossil-fuel
electricity generation today. From raw material sourcing through
end-of-life module recycling, First Solar’s renewable energy
systems protect and enhance the environment. For more information
about First Solar, please visit www.firstsolar.com.
For First Solar Investors
This release contains forward-looking statements which are made
pursuant to safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include statements, among other things, concerning: our business
strategy, including anticipated trends and developments in and
management plans for our business and the markets in which we
operate; future financial results, operating results, revenues,
gross margin, operating expenses, products, projected costs,
warranties, solar module efficiency and balance of systems ("BoS")
cost reduction roadmaps, restructuring, product reliability and
capital expenditures; our ability to continue to reduce the cost
per watt of our solar modules; our ability to reduce the costs to
construct photovoltaic ("PV") solar power systems; research and
development programs and our ability to improve the conversion
efficiency of our solar modules; sales and marketing initiatives;
and competition. These forward-looking statements are often
characterized by the use of words such as "estimate," "expect,"
"anticipate," "project," "plan," "intend," "believe," "forecast,"
"foresee," "likely," "may," "should," "goal," "target," "might,"
"will," "could," "predict," "continue" and the negative or plural
of these words and other comparable terminology. Forward-looking
statements are only predictions based on our current expectations
and our projections about future events. You should not place undue
reliance on these forward-looking statements. We undertake no
obligation to update any of these forward-looking statements for
any reason. These forward-looking statements involve known and
unknown risks, uncertainties, and other factors that may cause our
actual results, levels of activity, performance, or achievements to
differ materially from those expressed or implied by these
statements. These factors include, but are not limited to, the
matters discussed in Item 1A: "Risk Factors," of our most recent
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current
Reports on Form 8-K and other reports filed with the SEC.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150615005296/en/
First Solar MediaSteve Krum+1
602-427-3359steve.krum@firstsolar.comorFirst Solar InvestorsStephen
Haymore+1 602-414-9315stephen.haymore@firstsolar.com
First Solar (NASDAQ:FSLR)
Historical Stock Chart
From Mar 2024 to Apr 2024
First Solar (NASDAQ:FSLR)
Historical Stock Chart
From Apr 2023 to Apr 2024