As Greentech Media reported yesterday, at least one analyst has concluded that First Solar has achieved the nirvana of green power: grid parity, or being able to produce electricity that’s as cheap as or cheaper than conventionally produced power. According to Mark Bachman, an equity analyst at Pacific Crest,First Solar’s 12.6 MW system for Sempra Generation is producing power at a cost of .075/kilowatt hour, compared to conventional power’s cost of $.09/kilowatt hour.

Greentech Media summed up the importance of Bachman’s conclusions this way:

Bachman’s cost calculations, of course, are impacted by a number of factors and others will likely come to different conclusions. Part of the calculation relies on what others are achieving in other locations with different kinds of panels. Nonetheless, it underscores the progress the industry is making toward the important milestone.