First Solar

What First Solar does

First Solar, founded in 1999 and headquartered in Tempe, Arizona (incorporated in Delaware), is the largest solar module manufacturer in the Western Hemisphere and the only US-headquartered company among the world's largest producers. It designs and manufactures cadmium telluride (CdTe) thin-film photovoltaic (PV) modules — its flagship Series 6 and Series 7 platforms — using a proprietary, vertically integrated continuous process that transforms sheets of glass into finished panels in approximately four hours. The technology uses 1-2% of the semiconductor material required by conventional crystalline silicon modules, does not rely on Chinese c-Si supply chains, and is the only thin-film technology manufactured at gigawatt scale. Manufacturing facilities span Ohio, Alabama, Louisiana, South Carolina (H2 2026), India, Malaysia, and Vietnam, with global annual nameplate capacity expected at approximately 25 GW by 2026; closed-loop recycling recovers up to 90% of semiconductor material and 90% of glass and operates in the US, Germany, and Malaysia. The company does not serve the residential rooftop market.

First Solar's revenue is generated primarily through direct sales of modules to utility-scale solar developers, EPC firms, and project owners for projects of 20 MW or larger, supplemented by authorized distribution partners (Guided Path Solar, Kinect, Graybar, WESCO, Greentech Renewables) for sub-20 MW North American projects and regional offices for India, APAC, EMEA, and Latin America. Q1 2026 net sales of $1.04 billion (+24% YoY) on record shipments of 3.8 GW produced a 47% gross margin and approximately 33% net margin. Federal Section 45X Advanced Manufacturing tax credits contributed approximately 76% of FY2025 gross margin and approximately 86% of projected FY2026 gross margin, and are scheduled to begin phasing out in 2030. A contracted sales backlog of 47.9 GW valued at approximately $14.4 billion runs through 2030. Recent strategic priorities include the March 2026 launch of CuRe (Copper Reduction) next-generation CdTe technology, ongoing US capacity expansion, the May 2026 GameChange Solar partnership for India, and an active IP enforcement program targeting TOPCon competitors.

Name

First Solar

Legal name

First Solar, Inc.

Website

https://firstsolar.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

First Solar is a US-headquartered manufacturer of cadmium telluride (CdTe) thin-film photovoltaic modules, selling utility-scale solar products primarily to developers, EPCs, and project owners across North America, India, and other international markets.

Ownership category

akta.pro rank

Product category

Solar Photovoltaic Modules

NAICS

Solar Electric Power Generation (221114), Flat Glass Manufacturing (327211)

SIC

Motors & Generators (3621), Prefabricated Metal Buildings & Components (3448)

akta.pro primary industry

Solar PV Module & Cell Manufacturing (Crystalline, Thin-Film) (EUAMAHAA)

akta.pro secondary industries

Solar PV Module Manufacturing (Cells, Modules, Thin-Film) (EUAMABAD), Solar Inverters, Power Optimizers & MLPE Manufacturing (EUAMAHAB), Solar Plant Components Supply & Manufacturing (Modules, Cells, Wafers, Mirrors, Heliostats) (EUACAGAK), Solar Distribution & Wholesale Supply (Channel, Procurement, Logistics) (EUAMABAK)

Keywords

• Thin film solar modules
• Cadmium telluride photovoltaic
• Utility-scale solar panels
• Solar module manufacturing
• PV recycling solutions

Headquarters

HQ city

Tempe

HQ country

United States

HQ region

North America

Offices12 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Solar Module Sales: First Solar's primary revenue stream from designing, manufacturing, and marketing advanced thin-film CdTe PV solar modules to utility-scale solar developers, EPC firms, and project owners. The company sells modules directly to customers with projects of 20 MW or larger, and through distribution partners for smaller projects. Revenue is driven by module volumes sold, average selling prices, and geographic mix. Q1 2026 net sales of $1.04 billion, up 24% year-over-year, with record module shipments of 3.8GW and 47% gross margin.
2. Section 45X Advanced Manufacturing Tax Credits: Federal tax credits under the Inflation Reduction Act that significantly boost gross margins. Section 45X credits comprised approximately 76% of FY2025 gross margin and 86% of FY2026 projected gross margin. Credits are scheduled to begin phasing out starting in 2030.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

First Solar designs, manufactures, and markets advanced thin-film Cadmium Telluride (CdTe) photovoltaic (PV) solar modules for utility-scale and commercial solar power plants. The company produces its Series 7 and Series 6 module platforms using a fully integrated, continuous manufacturing process that transforms sheets of glass into functioning solar panels in approximately four hours, with operations across the US, India, Malaysia, and Vietnam. Supporting offerings include ecosystem components for module installation, PV recycling services that recover up to 90% of semiconductor material, and post-sales technical support.

Product overview

First Solar is a leading American solar technology company that manufactures advanced thin film cadmium telluride (CdTe) photovoltaic (PV) modules. The company's product portfolio centers on its Series 7 and Series 6 module platforms, which represent its core product offerings. Series 7 is the flagship platform with TR1 and FT1 variants, while Series 6 includes Plus and bifacial options. Supporting these core modules, First Solar offers an Ecosystem of components and structures, along with Recycling Solutions and Post Sales Support services. The company provides solar solutions through two main channels: Utility-Scale Solutions for large power plants and Distributed Generation Solutions for commercial and industrial applications. First Solar does not serve rooftop or residential markets.

Differentiator

Problem solved

Functional benefit

Brands

• Series 7: Advanced thin film CdTe PV module product line manufactured in the US
• Series 6
• CuRe
• CattleTracker
• Responsible Solar

Products and services

• Series 7 Module

Quantifiable outcome

• Q1 2026 net sales of $1.04 billion, up 24% year-over-year, with net income of $347 million (65% YoY increase)
• +5 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature6 records

Partnerships

Six partnerships are on record, tiered minor and core.

• MIT Initiative for New Manufacturing (INM)minorStrategic or Co-development Partner · 16 June 2026First Solar joined MIT's Initiative for New Manufacturing (INM) as its eighth industry member during MIT Manufacturing Week, alongside existing members Amgen, Autodesk, GE Vernova, Flex, PTC, Sanofi, and Siemens. The partnership focuses on AI deployment on factory floors, workforce solutions, and startup-driven innovation in manufacturing.
• GameChange SolarcoreStrategic or Co-development Partner · 19 May 2026Strategic partnership to support deployment of domestically manufactured First Solar thin-film modules on GameChange's Genius Tracker systems in India. The collaboration builds on two operational utility-scale projects demonstrating approximately 99.8% uptime over more than a year. Both companies invested in R&D and engineering to ensure compatibility between GameChange's tracker systems and First Solar's Series 7 modules manufactured in India, optimizing generation profiles for end customers and addressing India's ALMM and ALCM regulatory requirements.
• Silicon RanchminorChannel Partner/ Reseller/ Distributor · 30 April 2026Silicon Ranch uses First Solar panels manufactured in Alabama as part of its patented CattleTracker system, the first commercial deployment combining utility-scale solar generation with full-scale beef cattle operations. Power is sold to Middle Tennessee Electric cooperative serving over 750,000 customers. Early research findings suggest the model supports both animal welfare and soil health.
• Renewable PropertiesminorChannel Partner/ Reseller/ Distributor · 30 April 2026Renewable Properties acquired 118 MW of First Solar's Series 7 cadmium telluride thin-film solar modules for deployment at small-scale utility and community solar projects across 17 US states, with the largest portion (51 MW) in California. The deal supports Renewable Properties' development pipeline while highlighting strategic importance of domestically manufactured solar equipment.
• 5N PlusminorStrategic or Co-development Partner5N Plus, a Canadian specialty semiconductor and critical mineral company, holds an upsized contract with First Solar — part of its record backlog of US$434 million. 5N Plus supplies germanium and other critical minerals used in First Solar's CdTe thin-film module manufacturing. 5N Plus also received a US government grant for germanium refining.
• TALON PVminorStrategic or Co-development PartnerTALON PV, a US solar cell manufacturer, has established a partnership with First Solar as part of its strategy to become one of the largest c-Si cell producers in the United States. TALON's initial 4.8 GW Texas facility and planned second 4.8 GW expansion targets 9.6 GW total capacity by 2030. The partnership involves technology development and collaboration through TALON Technologies Germany, a pilot-scale commercialization platform in Freiburg.

Scale indicators15 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• JinkoSolar: One of the world's largest solar module manufacturers with significant global capacity. Directly competes with First Solar in utility-scale solar, particularly as the target of First Solar's TOPCon patent litigation, and represents the dominant c-Si alternative to First Solar's thin-film approach.
• LONGi Green Energy: Largest crystalline silicon solar manufacturer globally with extensive utility-scale presence. Competes with First Solar in utility-scale solar projects where developers evaluate c-Si versus thin-film based on LCOE, bankability, and domestic content requirements.
• Trina Solar: Major global solar module manufacturer serving utility-scale and commercial markets with c-Si technology. Competes directly with First Solar on large project tenders and is among the manufacturers potentially affected by First Solar's TOPCon patent litigation.
• JA Solar: Top-tier global solar module manufacturer with significant utility-scale presence and vertically integrated c-Si production. Competes directly with First Solar for utility-scale project module supply and serves similar downstream customers.
• Canadian Solar: Global solar module manufacturer and project developer, also named as a defendant in First Solar's TOPCon patent litigation. Directly competes in utility-scale solar module supply and operates project development businesses paralleling First Solar's customer base.
• Hanwha Qcells: Major c-Si solar module manufacturer with significant US manufacturing investments. Direct competitor in US utility-scale solar and the subject of a tariff circumvention petition filed by First Solar and other US manufacturers.
• Maxeon Solar Technologies: Solar module manufacturer spun off from SunPower with premium positioning and proprietary IBC cell technology. Competes with First Solar in select commercial and distributed generation segments, though more residential-focused.
• Risen Energy: Major global c-Si solar module manufacturer with significant utility-scale presence. Competes with First Solar for large solar project module supply globally, particularly in emerging markets.
• Talesun Solar: Global solar module manufacturer with utility-scale and commercial market focus. Direct competitor to First Solar in c-Si module supply for large solar projects worldwide.

Emerging players

• Adani Solar: India's largest solar module manufacturer with significant domestic manufacturing capacity. Competes with First Solar in the Indian utility-scale market, particularly under India's ALMM/ALCM domestic content frameworks where First Solar also operates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/FirstSolar
• YouTubeyoutube.com/user/firstsolar
• LinkedInlinkedin.com/company/first-solar

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries6 records

Funding overview

Funding rounds5 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Solar