First Solar (FSLR) Breaks the Buck Barrier, May Be Price Competitive With Non Renewables Within 3 Years

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07:50:01 pm on February 24, 2009

A major milestone amidst the solar doom and gloom…

Despite bleak estimates for the next few quarters, there are reasons to remain very optimistic on FSLR.  The company announced it broke the $1/watt barrier today saying that it has produced a solar cell with a cost of .98/watt and expects to meet its target of producing cells with a cost of .65 – .75 watt by 2012 which would be in line with traditional energy costs from nat gas and coal.

“This achievement marks a milestone in the solar industry’s evolution toward providing truly sustainable energy solutions,” said Mike Ahearn, First Solar chief executive officer. “First Solar is proud to be leading the way toward clean, affordable solar electricity as a viable alternative to fossil fuels.”

Ahearn expressed thanks to governments in Germany and other countries for making today’s milestone possible. “Without forward-looking government programs supporting solar electricity, we would not have been able to invest in the capacity expansion which gives us the scale to bring costs down,” he said. “First Solar’s ongoing focus on cost reduction enables continued growth even as subsidies decline. In the meantime, those initial investments are paying off in a cleaner environment and in the creation of thousands of jobs with a clear future.”

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This is a great achievement. First Solar seems to be only selling to utility companies. I wonder when the will sell their solar panels through to the consumers who want to put them on their own homes?

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