First Solar Sets New World Record for CdTe Solar Cell Efficiency
18.7 Percent Research Cell Efficiency Confirmed by NREL
TEMPE, Ariz. & PERRYSBURG, Ohio--(BUSINESS WIRE)--
First Solar, Inc. (Nasdaq: FSLR) today announced it set a new world
record for cadmium-telluride (CdTe) photovoltaic (PV) solar cell
conversion efficiency, achieving 18.7 percent cell efficiency in tests
confirmed by the U.S. Department of Energy's National Renewable Energy
Laboratory (NREL). The record-setting cell was constructed at the
Company's Perrysburg, Ohio factory and R&D center using processes and
materials — including the glass substrate — that are designed for
First Solar's R&D team in Perrysburg, Ohio, set a new world record for CdTe solar cell efficiency, 18.7 percent, as certified by the National Renewable Energy Laboratory. (Photo: Business Wire)
"This achievement showcases the huge potential of CdTe compared to other
PV technologies and highlights the performance gains we continue to
achieve thanks to our consistent and strong investment in R&D," said
Raffi Garabedian, First Solar's Chief Technology Officer. "We are
confident the advanced technologies and processes we developed for this
record-setting cell will further enhance the performance of our future
production modules and power plants."
First Solar has continued to transfer its success in the R&D lab into
its commercial modules, increasing its average production module
efficiency to 12.9 percent in the fourth quarter of 2012, up 0.7
percentage points from 12.2 percent in the fourth quarter of 2011. The
Company's lead line was producing modules with 13.1 percent efficiency
during the fourth quarter, up from 12.6 percent in the same period a
Since it began commercial production in 2002, First Solar has produced
more than 90 million of its advanced thin-film solar modules with a
capacity of over 7 gigawatts (GW), enough to provide clean electricity
for approximately 3.5 million homes and displace 4.7 million metric tons
of CO2 annually, based on world averages. If laid end-to-end,
the modules would circle the equator nearly three times. First Solar
utilizes a continuous manufacturing process which transforms a sheet of
glass into a complete solar module in less than 2.5 hours, contributing
to the industry-leading energy payback time and low carbon footprint of
systems using First Solar PV modules.
For more information visit: http://www.firstsolar.com/Innovation/Advanced-Thin-Film-Modules.
About First Solar, Inc.
First Solar is a leading global provider of comprehensive photovoltaic
(PV) solar systems which use its advanced thin-film modules. 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 collection and
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 the safe harbor provisions of Section 21E of the Securities Exchange
Act of 1934. The forward-looking statements in this release do not
constitute guarantees of future performance. Those statements involve a
number of factors that could cause actual results to differ materially,
including risks associated with the company's business involving the
company's products, their development and distribution, economic and
competitive factors and the company's key strategic relationships and
other risks detailed in the company's filings with the Securities and
Exchange Commission. First Solar assumes no obligation to update any
forward-looking information contained in this press release or with
respect to the announcements described herein.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130226006678/en/
First Solar, Inc.
+1 602 414-9315
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Source: First Solar, Inc.
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