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first solar

First Solar Reports Strong Start To 2018 As Series 6 Bookings Increase

by Joshua S Hill May 7, 2018

Leading US solar manufacturer First Solar published its first-quarter earnings report late last month, depicting a strong start to the year with increased sales of $567 million and the commencement of Series 6 module production in April which, in turn, led to the company’s announcement of a new solar manufacturing plant in Perrysburg, Ohio.

First Solar announced its first-quarter earnings to the world on April 26 at the same time as it announced plans to build a new 1.2 gigawatt (GW) solar module manufacturing facility in Perrysburg, Ohio, which is expected to create 500 jobs and will focus on producing the company’s Series 6 thin film photovoltaic module — and which was heralded earlier in the year by company CEO Mark Widmar. The news is unsurprising given US President Donald Trump’s January decision to impose a 30% tariff on all imported solar cells and modules, refocusing solar manufacturers wanting to do business in the United States and incentivizing local manufacturing.

“Strong demand in the US for advanced solar technology, along with recent changes in US corporate tax policies, have encouraged our decision to grow First Solar’s US production operations,” said Mike Koralewski, First Solar’s Senior Vice President of Global Manufacturing. “State and local officials and JobsOhio have also worked with us to create a business-friendly environment that supported our objectives. These factors, combined with our own economies of scale in high tech manufacturing, make expanding US operations an attractive, win-win opportunity.”

While the new solar tariff is definitely playing its part in First Solar’s decision — and the decisions of other companies, such as JinkoSolar’s newly announced Florida manufacturing facility and SunPower’s decision to acquire SolarWorld Americas’ US-based operations — it was solidified in the success of its new Series 6 solar product. Year-to-date bookings for Series 6 modules has already reached 3.3 GW and the company also began shipping Series 6 modules in the first quarter.

“Our first quarter earnings and continued bookings momentum provide a positive start to the year,” said Mark Widmar. “Our earnings for the quarter were supported by the sale of both domestic and international projects, combined with efficient management of core operating expenses. Customer demand for our Series 6 product continues to be strong as evidenced by our year-to-date net bookings of 3.3GW_DC.

“We also achieved significant technology milestones this month with the start of Series 6 production in Ohio and the first commercial module shipments to systems projects. We remain focused on leveraging the advantages of our differentiated technology and applying our disciplined operating approach to achieve our near-term and long-term priorities.”

For the first quarter, First Solar reported earnings of $567 million, up $228 million on the previous quarter but well down on the spectacular $892 million reported in the first quarter of 2017. The increase in first-quarter sales was due primarily to the sale of international projects in India and Japan, as well as the sale of the company’s Rosamond project.

Earnings per share for the first quarter (on a GAAP basis) amounted to $0.78 compared to a loss per share of $4.14 in the fourth quarter, and $0.09 in the first quarter of 2017, and beating out analyst expectations by an impressive $0.85. Gross profit margin was 30.5% for the quarter, while the company’s cash and marketable securities declined slightly from $3 billion at the end of 2017 to $2.9 billion due to an increase in capital spending for additional Series 6 capacity.

First Solar barely modified its 2018 guidance, only shifting its Net Cash Balance down to between $2 billion and $2.2 billion, dropping its Operating Cash Flow down to between $0 and $100 million, and increasing its Capital Expenditures up to between $850 million to $950 million.

May 7, 2018 0 comment

Other Renewable Energy PV

3 Ways Donald Trump’s Climate Approach Is A US Economic Disaster

by Zach February 12, 2017

written by Zach

Originally published on CleanTechnica
by Zachary Shahan

To be fair, we don’t yet know what Donald Trump’s precise climate approach will be, but it seems all but guaranteed that he will slow and obstruct climate action and will do a “great deal” to increase pollution and CO2 emissions from the out-of-date oil, coal, and gas industries.

This is idiotic not just because it puts all of human society at great risk, but also because it’s one of the worst economic moves a politician can make. I’ll run down three reasons why in the bulk of this article, but let’s first highlight some positive climate policy news from other economic and energy giants — India isn’t going to pull back its climate efforts no matter what Trump does (CleanTechnica exclusive) and China is already announcing that it’s willing to take the lead on climate action (a position it will milk as part of an overall global power grab in the coming years). To be frank, no country with sane leadership is going to hurt both itself and the world by going slow on cleantech growth. Here’s why:

Cleantech Jobs > Fossil Jobs

At the opening of the World Future Energy Summit earlier this week, former president of Mexico Felipe Calderón had some powerful energy statistics from the US to share — there are approximately 70,000 coal mining jobs in the US today, whereas there are over 200,000 solar energy jobs there (exclusive video and more commentary coming).

In a separate interview with Adnan Z. Amin, Director-General of the International Renewable Energy Agency (IRENA), Amin dropped some similar stats on us — 85,000 people work in the coal industry in the United States, whereas approximately 400,000 people are employed in renewables in the US. For a little further context, that equals ~5% of the global renewable energy workforce.

Even today — with coal accounting for ~30% of US electricity and solar accounting for ~1% of US electricity — solar jobs outnumber coal jobs. Solar power and wind power have both become cheaper than coal power (by far) and almost no new coal power capacity has been added in the past few years (renewables have dominated new capacity and natural gas has accounted for almost all of the rest).

Hastening the energy transition would create thousands and thousands of new jobs, whereas delaying it would make the US economy more stagnant and weaker. Hastening the energy transition would result in many more solar and wind energy power plants and distributed systems on homes and farms across the country, whereas delaying it just means burning more coal and natural gas in old power plants, polluting the lives of more Americans, and allowing coal and oil billionaires to stuff more cash into their over-inflated bank accounts.

The basic economics of renewables isn’t going to change, but weakening or crushing the Clean Power Plan would allow old, dirty coal power plants to remain open (and cause premature death to countless American citizens), which would mean a slower increase in renewable energy jobs. Put very frankly: the number of renewable energy jobs that approach would keep off the market is a larger number than the number of coal jobs that would be saved for a few more years.

Coal mining is largely automated at this point and the old coal plants the Clean Power Plan would shut down are, of course, already fully built, but the renewable energy projects that would be created to more quickly replace these old coal plants would create renewable energy design, manufacturing, sales, and installation jobs for Americans in need of work.

Any efforts to let oil & gas companies pollute more and any efforts that allow more natural gas power plants to get built will of course harm human health — they will harm the health, quality of life, and lifespan of real American citizens. However, again, there is also likely to be a jobs hit. Part of the beauty of wind and solar power is that these are highly distributed power-generation technologies that require a great deal of local work for installation. Additionally, some of the largest manufacturers are American (GE for wind turbines, SunPower and First Solar for solar panels, etc.). Much of the cost of natural gas is simply for the fuel and is funnelled to billionaires and multimillionaires at the top of this industry — buddies of Donald Trump, perhaps. Renewable energy is the real job creator, not natural gas.

Efforts to hurt electric vehicle growth will hurt US manufacturing as well — Tesla is based in California and Nevada, the Nissan LEAF is built in Tennessee, the Chevy Bolt is produced in Michigan, and other electric cars are or will be manufactured in the US.

At one point last year, we highlighted that the fastest-growing job in the US was the job of a wind turbine technician. It seems that Trump won’t promote this job or industry since he has a long history of anti-wind behavior, but for his own sake (and the country’s) it would be quite helpful if he didn’t obstruct continued wind energy growth. When the US wind market grows, US wind turbine manufacturing grows. The best way to hurt US wind turbine manufacturing is to hurt the US wind energy market.

February 12, 2017 0 comment

PV Solar Modules Solar PV Manufacturing Startups Thin Film Solar

Siva Power Brings On Bruce Sohn (Former First Solar Exec) As Vice Chairman Of The Board

by James Ayre October 31, 2016

written by James Ayre

The thin-film solar energy technology firm Siva Power has brought former First Solar executive Bruce Sohn on as its new Vice Chairman of the Board, according to recent reports.

The hire is notable since Sohn has been credited as being one of the main driving forces behind First Solar’s impressive growth over recent times. Previously, Sohn had held various leadership positions at Intel.

Sohn’s stint at First Solar began in 2003 as a member of the Board of Directors. He then became the company’s president in 2007. While President, First Solar achieved a number of historic milestones, including becoming: the first manufacturer to bring costs below $1/watt; the first to develop, engineer, procure, and construct more than 1 gigawatt (GW) of utility-scale solar energy projects; and the first to ship over 1 GW of production in a year.

Siva Power CEO Brad Mattson commented on the hire: “If I had my choice of any executive in the world to join our team, it would be Bruce Sohn. What he achieved at First Solar speaks for itself, and it says a lot about Siva and where Siva is going now that someone like Bruce has joined us. We’ve consolidated the best and the brightest minds in the thin-film solar industry and Bruce Sohn is a special addition to that brain trust. It was under his leadership that First Solar, the only American thin-film PV success story, became what it is today. His guidance and leadership will be invaluable to Siva going forward as we become the next success.”

“Siva has made impressive progress on its advanced thin film technology,” Sohn continued. “While the solar industry has steadily improved its position as a leading generator of clean, renewable energy, we are still at the threshold of the upcoming growth phase. Terrawatts of clean power are yet to be installed and there is opportunity to make thin film solar the lowest cost, most environmentally friendly solution to power the planet.”

As some background, Siva Power is currently developing commercial copper indium gallium selenide (CIGS) thin-film solar modules. The company raised the funding necessary to construct a pilot production line at its Santa Clara headquarters earlier this year.

October 31, 2016 0 comment

Going Solar Market Research PV Rooftop Solar Solar $Solar Modules Solar PV Manufacturing Solar Research

Top 10 Solar Power Companies, & Top 5, & Top 10 Again

by Jake Richardson May 18, 2016

written by Jake Richardson

When you ask who the top solar power companies are, you will probably want to distinguish between residential installers and solar panel manufacturers. Solar power generally is thought of as home solar power, though utilities and businesses also are investing in it. This article looks at the top residential solar contractors / residential solar installers as well as the top American solar panel manufacturers.

According to Solar Power World Online, the top solar residential contractors are:

1. SolarCity
2. Vivint Solar
3. Sunnova
4. RGS Energy (Real Goods Solar)
5. Solar Universe
6. Bland Solar & Air
7. Amergy Solar
8. Smart Energy Solar
9. KDH Solar
10. Direct Solar Energy

However, this doesn’t really cover the full story. GTM Research’s US residential installer leaderboard for the end of 2015 was as follows for the top 5:

SolarCity 34.1%
Vivint Solar 11.6%
Sunrun 2.6%
NRG Home Solar 2%
Sungevity 1.9%

Clearly, the two rankings look at different matters and come to different results. Anyhow, diving into the companies in the GTM Research ranking, here’s a bit more info from Solar Love:

1. SolarCity is located in San Mateo, California, and has about 10,000 employees. It installs solar power systems, but the homeowners often don’t own them — they lease them (or buy the electricity from them) from SolarCity, presumably for a lower price than they’d buy electricity from the grid. It makes sense that SolarCity is a leader, because its customers have very little in upfront costs and the company had a lot of financial support to grow quickly and establish strong relationships with bankers & financiers. This company is well known for its association with Elon Musk, chairman of the company and cousin to founders & CEO + CTO Lyndon Rive & Peter Rive. SolarCity operates in: Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Maryland, Massachusetts, New Hampshire, Nevada, New Hampshire, New Jersey, New Mexico, New York, Oregon, Pennsylvania, Rhode Island, Texas, Vermont, and Washington DC.

2. Vivint Solar is located in Lehi, Utah, and it has a similar kind of service provided by SolarCity, except that it typically uses power purchase agreements (which SolarCity sometimes uses) instead of leasing. Also, it goes door to door to get customers, and its larger parent company sells various other home products, like alarm systems. Vivint has about 3,200 employees and has installed 228 MW of solar panels. Vivint Solar currently operates in: Arizona, California, Connecticut, Hawaii, Maryland, Massachusetts, New Jersey, New Mexico, New York, Pennsylvania, South Carolina, Utah, and Washington DC.

3. Sunrun was one of the first companies to offer solar leasing, but it also offers systems via loans and cash purchases now. It is based in California, but is now working in the following states: Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, and South Carolina.

4. NRG Home Solar is a subsidiary of energy giant NRG. Like the companies above, its main pitch is $0-down solar leasing. It doesn’t yet seem to offer solar loans like the other companies above. In a market that is shifting back toward straight purchases and loans, it seems NRG Home Solar will have to broaden its offering in order to remain competitive for long. NRG Home Solar operates in: California, Connecticut, Maryland, Massachusetts, Minnesota, New Jersey, New York, and Texas.

5. Sungevity, based in Oakland, California, also has a long history in solar leasing, but it offers solar power installations via solar loans and cash purchases as well. Sungevity CEO Andrew Birch has said the company was agnostic regarding financing, agreed the shift is going back toward system purchases, and is typically keen to highlight Sungevity’s competitive advantages from its iQuote system, which provides a solar power quote using satellite technology quickly and remotely, and “also provides customers with dedicated project managers so that they don’t have to go through any automated customer support or deal with different people (who need to be caught up on their project) every time they call or email.” Sungevity operates in: California, Colorado, Connecticut, Delaware, Maryland, Massachusetts, New Mexico, New Jersey, New York, North Carolina, Rhode Island, Vermont, and Washington DC.

Regarding the remaining companies from the Solar Power World Online ranking, here’s a little more info:

3. Sunnova is located in Houston, TX. This company offers the ability for a homeowner to own his or her own system, sign a power purchase agreement, or get a solar lease. Sunnova operates in Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Indiana, Louisiana, Maryland, Massachusetts, Missouri, New Jersey, New Mexico, New York, Oregon, and Pennsylvania.

4. RGS Energy (Real Solar Goods) is located in Louisville, Colorado. It offers solar leases, service agreements, and home solar systems for purchase. It operates in California, Colorado, Connecticut, Hawaii, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont.

5. Solar Universe is located in Livermore, California. It offers $0-down solar financing when installing home solar systems, or fully prepaid solar contracts. It operates in Arizona, California, Hawaii, Louisiana, Maryland, Massachusetts, Nevada, New Jersey, New York, Oregon, Pennsylvania, and Puerto Rico.

6. Bland Solar & Air is based in Bakersfield, California. It installs solar power systems, but has expertise with air conditioning as well. It recommends using the nonprofit Educational Employees Credit Union for financing (getting a loan) if one isn’t able to or doesn’t want to self-finance the project. “Educational Employees Credit Union offers a number of Energy Efficiency Loan choices, including a $0 down payment option,” the company writes.

7. Amergy Energy is a New Jersey–based company. It installs, finances, and leases solar power systems for homes, businesses, and nonprofit organizations. It operates in California, Massachusetts, New Jersey, and New York.

8. Smart Energy Solar is located in Corona, California. It has installed thousands of solar systems, including solar PV, solar hot water heaters, and solar pool heating.

9. KDH Solar is located in New Orleans, Louisiana. It installs both residential and commercial systems.

10. Direct Energy Solar is located in Annapolis, Junction. It is focused on residential solar power systems.

Solar panel installers typically don’t make their own solar panels, they install panels made by manufacturers. SolarCity is going to be making its own solar panels and installing whole systems, so it is the exception.

Is there any advantage to a solar panel installer making its own technology? It might be that there could be better communication about the solar panels with the installers, if it comes from within the same company. It also might be easier to get defective panels replaced if there is better communication, rather than one company trying to communicate with another. Additionally, vertical integration like this could bring down costs. The downside would be if these in-house solar panels ended up being more expensive and the company was tied to using them.

Also, if the installer makes solar panels in the same country, communication may be enhanced because there is no cross-culture or cross-language issues. However, because of globalization, international business is common now, so cross-cultural situations might not be an issue.

Another consideration is that some consumers like to support companies based in their own countries. In this case, an American home or business owner who wants to invest in solar power might consider working with a company like SolarCity, or try to locate solar panels made in America by a company like SunPower.

Obviously, solar panels need to be manufactured before they can be installed, and fortunately, a number of American companies make them.

Top American Solar Panel Manufacturers

1. First Solar has its headquarters in Tempe, Arizona, and has solar panel manufacturing sites in the US, Germany, and Malaysia.

2. SunPower has its headquarters in San Jose, California, and manufactures panels in the US and the Philippines.

3. SolarWorld has its US headquarters near Portland (it is originally a German company) and most of its manufacturing is done in Germany.

4. SolarCity is based in San Mateo, California, and it is working to build a very large solar panel manufacturing site in New York state.

5. Suniva has its headquarters in Atlanta, Georgia, and manufacturing sites in Michigan and Georgia. It was founded in 2007.

While it is important to know the names of these companies, their locations, and what they provide, there is something of equal importance that doesn’t get talked about enough, or at all. These solar power companies are accomplishing something important for the country—they are helping the United States very gradually shift away from fossil fuel use to clean, renewable energy.

There are a raft of benefits linked with solar power: it’s better for climate change, reduces harmful air pollution, and is better for the national economy because it reduces reliance on imported fossil fuels. Eventually, all coal mining and burning might also be eliminated, and coal mining clearly is very unhealthy for mine workers. Sometimes it is fatal. Making and installing solar panels is relatively safe, so it is better for American workers.

Solar power creates a lot of jobs, and more solar jobs are expected to be added in the US in 2016 than oil-related jobs.

The solar power trend is taking off and it is has never been more affordable. Though, many of us may not be aware of how much solar power prices have fallen. American solar power companies have accomplished a lot so far, and yet they are poised to do much more. At the same time, they seem to have been given almost no credit for their achievements. Currently, the US gets less than 2% of its electricity from solar power, but that figure is set to increase as solar companies continue to install more and more of it. Also, the costs are dropping, so solar power is becoming more accessible all the time. Additionally, the costs will most likely continue to decrease and demand will likely grow. So, solar power is going to be a bigger part of the American energy future.

Image Credit: CHAK 001, (Creative Commons BY 3.0)

May 18, 2016 0 comment

First Solar Could Achieve 2 GW Of Production In 2016

by Jake Richardson November 11, 2015

written by Jake Richardson

First Solar is expecting to be fully operational next year and has a nameplate capacity of 2.7 GW, so it might produce 2 GW or more. In fact, the company has 2 GW of contracted projects for the upcoming year, plus a number of others that also are expected to be finished during the same period. That adds up to a lot of solar power being manufactured and installed – especially in just one year.

Demand and increasing production line efficiency are contributing to the expected rise in output. The US investment tax credit situation is something that has created an uncertainty and tension. Some people might like to take advantage of it while it is still in place, and others might be balking already, wanting to see what happens in Congress.

(Of course, it should be renewed because it is working, but there are influencers who don’t want solar power to succeed.)

Upgrades to production lines have helped too, “Since the inception of the module end-of-life programme, we have continued to pursue engineering and process improvements to reduce the cost of collecting and recycling the modules. Our continuous improvement efforts have resulted in an automated and continuous flow process, which is significantly lowering the cost of the end-of-life programme,” explained Mark R. Widmar, CFO of First Solar.

Remember Solyndra? It was supposed to have an annual production ranging from 300 to 600 MW. Well, First Solar could blow that amount out of the water in 2016.

If First Solar does achieve such a high rate of production, will the news be blasted repeatedly far and wide like the Solyndra failure was?

Let’s remember that with adequate sunshine, one megawatt of solar power can generate enough electricity to power about 160 homes. Two gigawatts is two thousand megawatts, which is enough for 320,000 homes.

If First Solar achieves this production level in one year, that would be a great accomplishment.

Image Credit: First Solar

November 11, 2015 0 comment

Solar $

First Solar Sees Strong Growth In Record-Breaking Third Quarter

by Joshua S Hill November 10, 2015

written by Joshua S Hill

First Solar has recorded third quarter financials replete with record sales, earnings per share, and bookings.

One of the world’s largest solar PV developers and manufacturers, First Solar recorded an impressive third quarter this year, with increases to record-levels of net sales, GAAP earnings per fully diluted share, and quarterly and year-to-date bookings.

Specifically, First Solar saw net sales of $1.27 billion in the third quarter, up 42% on Q2’15 and 43% year-over-year. The company’s quarterly GAAP earnings per fully diluted share also increased to $3.38, up from $2.34 a quarter earlier, and $2.51 a year earlier.

First Solar took in record bookings of 1.7 GW (DC) during the quarter, bringing its year-to-date bookings up to 3.1 GW (DC). The company also has in excess of 1 GW worth of bookings for project delivery after 2016, and another 17.4 GW of potential booking opportunities.

First Solar was forced to put out a preliminary earnings report late October, due to the need to analyze “a discrete income tax matter related to a foreign jurisdiction.” Nevertheless, First Solar reported that “third quarter 2015 net sales, gross margin and ending cash balances were all unchanged from the preliminary results.” However, earnings per share increased to the aforementioned $3.41, up from the preliminary $3.38.

“We had tremendous execution in the third quarter from both a financial and bookings perspective,” said Jim Hughes, CEO of First Solar, in the preliminary earnings announcement. “We have now exceeded our book-to-bill target for the year, booked over 1GWdc of volume with deliveries after 2016, achieved strong quarterly earnings and have significantly raised our full year earnings guidance. We remain confident in our long term strategy and our ability to execute successfully.”

November 10, 2015 0 comment

Solar Records

SunEdison Wins 500 MW Solar PV Bid In India At Record-Breaking Tariff

by Saurabh Mahapatra November 4, 2015

written by Saurabh Mahapatra

US-based renewable energy project developer SunEdison has set a new Indian record for lowest tariff bid for solar photovoltaic power plant.

The lowest bid for solar PV project in India is now belongs to SunEdison. The company participated in a 500 MW auction under the revamped National Solar Mission. While a number of companies participated in the auction, SunEdison secured the entire 500 MW capacity. The company placed a bid of Rs 4.63/kWh (US¢7.12/kWh).

For the first time in India, a company secured a winning bid of lower than Rs 5.00/kWh (US¢7.7/kWh). In fact, as many as 10 companies quoted a bid below Rs 5.00/kWh while a total of 15 companies placed bids below Rs 5.50/kWh (US¢8.5/kWh).

The 500 MW auction was oversubscribed 10.5 times. A total of 30 prospective project developers submitted bids for a total of 5.5 GW capacity. Some of the foreign developers were among the first-time participants in an India solar power auction. These included companies like Trina Solar and SBG Cleantech (a joint venture company between SoftBank, Foxconn, and Bharti Enterprises).

Other major participants included SkyPower, ACME Solar, Aditya Birla, Essel Energy, Tata Power, Azure Power, Welspun Energy, Hero Future Energies, ReNew Power, and Suzlon Energy.

SunEdison beat the lowest bid record of SkyPower which secured a 50 MW project under Madhya Pradesh solar power policy earlier this year. A subsidiary of SkyPower won the 50 MW project at Rs 5.05/kWh (US¢7.7/kWh). The lowest winning bid before that was by First Solar at Rs 5.25/kWh (8.27¢/kWh) for a 40 MW project in Andhra Pradesh.

The bid by SunEdison is at 34% discount to the tariff determined by the Central Electricity Regulatory Commission for the current financial year. While SunEdison would be paid Rs 4.63/kWh (US¢7.12/kWh), the utilities would be buying this solar power bundled with power from coal-based power plants. The utilities would thus pay just Rs 3.50/kWh (US¢5.38/kWh).

The Indian government expects that tariff bids would fall further over the coming months. By the end of March 2015, around 4.8 GW solar power capacity is expected to be auctioned. A total of 6,781 MW solar power capacity has been allocated through competitive auctions for feed-in tariffs in India between December 2010 and September 2015. During the auctions, the bids have fallen by over 50%.

Earlier this year, SunEdison had pledged to install 10 GW of solar power capacity in India over the next 5 years.

November 4, 2015 0 comment

Solar $

First Solar’s Preliminary Q3 Earnings Boast Strong Performance

by Joshua S Hill October 30, 2015

written by Joshua S Hill

First Solar has released preliminary guidance on its third quarter earnings, with net income of $346.2 million and recorded sales of $1.3 billion.

The company’s quarterly earnings are “preliminary” due to the need to analyze “a discrete income tax matter related to a foreign jurisdiction.” First Solar “believes that based on its preliminary analysis, the tax matter could have an adverse financial impact of up to $40 million,” but it is still unsure if there will be any impact on results.

Net sales were up to $1.3 billion for the quarter, an increase of $375 million on the second quarter of 2015, and $410 million up on a year earlier, thanks primarily to initial revenue recognition of the sale of a majority interest in the partially completed Desert Stateline project, as well as higher third party module sales and an increase in systems revenue across multiple projects.

Earnings per share were $3.38, compared to $0.93 in Q2’15.

“We had tremendous execution in the third quarter from both a financial and bookings perspective,” said Jim Hughes, CEO of First Solar. “We have now exceeded our book-to-bill target for the year, booked over 1GWdc of volume with deliveries after 2016, achieved strong quarterly earnings and have significantly raised our full year earnings guidance. We remain confident in our long term strategy and our ability to execute successfully.”

First Solar also released guidance for the full-year 2015. Net sales guidance remained unchanged from previous quarters, expected to be between $3.5 billion and $3.6 billion, and similarly unchanged shipment forecasts of between 2.8 GW and 2.9 GW. Gross margin is expected up on previous estimates, to between 24% and 25%, and earnings per share similarly up to $4.30 to $4.50.

October 30, 2015 0 comment

Investment Solar $Solar Projects

First Solar Celebrates 529 MW Raft Of Orders

by Joshua S Hill October 30, 2015

written by Joshua S Hill

First Solar has announced three separate orders that, when added up, total 529 MW of power purchase agreements and thin film solar modules.

On the same day that the global solar PV company released its third quarter earnings report, First Solar also revealed these three separate project announcements.

First of all is an order for 400 MW of First Solar’s advanced thin film solar PV modules to US utility-scale solar project developer Strata Solar, expected for delivery from 2017 into 2018. The agreement between the two companies takes their overall transactions up past 1,000 MW.

“We are pleased to be extending our relationship with First Solar,” said Markus Willem, CEO of Strata Solar. “Strata has a relentless focus on quality, efficiency, and flawless execution, so it’s critical for us to have world-class technology partners like First Solar.”

“This deal shows confidence in the continued strength of the utility-scale solar market in the U.S.,” said Georges Antoun, First Solar’s President, US. “We are excited by Strata’s ongoing commitment to First Solar as a source of high-performance technology that provides a competitive edge in their project portfolio.”

The second, though smaller order, is an agreement between First Solar and the Sacramento Municipal Utility District for the execution of a power purchase agreement for offtake of a 10.8 MW solar project to be built on the site of the decommissioned Rancho Seco Nuclear Generation Station. The project, upon completion in mid-2016, will generate more than 22,000 MWh of clean energy.

“We are excited to be working on this project, which provides access to solar power for businesses that might not otherwise be able to include it in their energy procurement strategies due to cost, lack of available rooftop space or other factors,” said Brian Kunz, First Solar’s Vice President of Project Development – US West. “SMUD’s innovative SolarShares program exemplifies how a utility can serve its community in both environmentally and economically favorable ways.”

The final of the three announcements made on Thursday is the second power purchase agreement, this time with Austin Energy, for the electricity generated by First Solar’s 119 MW AC East Pecos Solar Project, which is expected to begin operation in late 2016, and generate approximately 3 million kilowatt hours of clean energy annually — that’s enough to power the equivalent of 27,000 average homes in the area.

“In committing to procuring 600 megawatts of solar energy in the coming years, the City of Austin has once again taken a leadership role in Texas,” said Austin Energy General Manager Larry Weis. “We were pioneers in wind energy in the 1990s, and now we’re leading the way in solar.”

“There is an irrefutable trend of solar becoming competitive in more geographies. Texas, in particular, shows great promise as an attractive market for solar-generated electricity, and Austin Energy is riding that trend,” said Georges Antoun. “The East Pecos Solar Project is proof of solar’s real-world cost competitiveness.”

October 30, 2015 0 comment

Community Solar PV Solar Projects

Nearly One Million Could Learn From Community Solar Projects

by Jake Richardson October 14, 2015

written by Jake Richardson

Clean Energy Collective has signed an agreement with First Solar to use its solar power technology for a number of CEC community solar projects. Colorado-based CEC specializes in community-based solar. Arizona-based First Solar provides community solar solutions — among others such as utility-scale — and has 10 GW of solar technology installed around the world.

“Roofless solar allows the greatest number of consumers to participate in and enjoy the benefits of locally produced clean power. We are proud to partner with First Solar in using their industry-leading technology, which allows us to provide the most competitive pricing and greatest value to utilities and their customers,” explained CEC founder and CEO Paul Spencer.

Four community solar projects in Texas and Colorado could raise solar power’s profile substantially. These projects are all tied with local electricity providers like utilities, so nearly one million residential customers will have the option to participate in them.

By definition, community solar functions to support communities, so more people are generally aware of this kind of project when it is installed near them. If they are part of the project, they also can have some affiliation with it, sometimes by owning shares.

This awareness aspect is different than when a utility builds a solar power plant, which is usually located in an area where there are fewer people, and there isn’t as much visibility.

A fixed tilt solar array in Pueblo, CO will use First Solar modules and equipment. In San Antonio, a single-axis tracking system will be used for a community solar project developed by CEC. Pueblo has a population of more than 100,000 so surely solar power’s profile will be increased in this small city. Obviously, with a population of 1.4 million, San Antonio will probably provide much more potential visibility.

Another single-axis solar tracking system will be installed in Corpus Christi, Texas, and this medium-sized city has a population of 316,000. A Rifle, Colorado, community solar project will use special anti-reflective coating (ARC) created by First Solar. Rifle is much smaller than the other projects’ locations, with somewhat over 9,000 residents.

Image Credit: Public Domain, Wiki Commons

October 14, 2015 0 comment

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