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Executing to industry's most disruptive technology roadmap
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More efficient than the best multi-PERC module
TEMPE, Ariz.--(BUSINESS WIRE)--
First Solar, Inc. (Nasdaq: FSLR) today announced it has set yet another
world record for cadmium-telluride (CdTe) photovoltaic (PV) module
conversion efficiency, achieving 18.6 percent aperture efficiency for an
advanced full size module. For the first time ever, First Solar has
demonstrated a record module that is more efficient than the best
multi-crystalline module recorded.
This achievement reinforces confidence in First Solar's ability to
deliver sustained product improvements consistent with its long-term
technology roadmap.
The record has been measured and certified by the U.S. Department of
Energy's National Renewable Energy Laboratory (NREL).
This 18.6 percent aperture area efficiency corresponds to a full area
conversion efficiency of 18.2 percent, which easily beats the best
recorded multi-crystalline Si PERC module with an approximate full area
efficiency of 17.7% (based on 19.1% aperture efficiency and published
module area data).
This achievement is the eighth substantial update to CdTe record
efficiency since 2011, continuing a disruptive and sustained trend of
rapid performance improvements. In January, First Solar produced a
research cell with 21.5 percent conversion efficiency, certified at the
Newport Corporation's Technology and Applications Center (TAC) PV Lab
and confirmed by NREL.
"First Solar's CdTe thin film is now rightly categorized as a high
performance product," said Raffi Garabedian, First Solar's Chief
Technology Officer. "At one time, we might have been characterized as a
low cost, low efficiency technology, but consistent with our technology
projections we are now proving that CdTe thin film delivers both
industry-leading performance AND sustainable thin-film cost structures."
Garabedian emphasized that First Solar's significant sustained
investment in development of CdTe technology has enabled the company to
meet or exceed its aggressive projections for improvements in research
cells and modules, as well as commercialized technology.
"While silicon technologies have approached their theoretical efficiency
entitlement and leveled out in terms of performance and cost, First
Solar continues to harvest the upside available from its superior thin
film technology. Our CdTe modules are now more efficient than the best
multi-crystalline Si modules, and we still have a great deal of
technology head room for further innovation," Garabedian said.
Nick Strevel, First Solar's Senior Manager of Technology, noted that
efficiency combined with other real-world performance attributes result
in First Solar technology delivering higher energy density than
multi-crystalline Silicon (m-Si) solar panels. Given the same installed
nameplate module capacity (Watts) with equivalent ground coverage ratio,
he said, First Solar's CdTe product will provide up to 8 percent more
useable energy from the same land area than m-Si, which gives First
Solar a competitive advantage over other PV technologies.
"A narrow focus on simple metrics such as standard-test-condition (STC)
efficiency or cost per STC-watt obscures the actual value of solar
generation technologies," said Strevel. "Customers value energy produced
by a solar power plant (kWh), not its nominal STC power rating. Metrics
with greater relevance to real-world conditions - including specific
energy yield, energy density, cost/kWh and long term reliability -
ultimately tell a much more comprehensive story of real-world
performance and are more influential in reducing Levelized Cost of solar
Electricity."
Strevel said that, in addition to the continued trend of efficiency
records, First Solar's modules are amongst the highest quality, most
reliable modules in the world, having passed the industry's most
rigorous multi-stress testing protocols such including Atlas 25+, IEC
Long Term Sequential and Thresher Tests.
About First Solar, Inc.
First Solar is a leading global provider of comprehensive photovoltaic
(PV) solar systems which use its advanced module and system technology.
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 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 safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements include statements, among
other things, concerning: our business strategy, including anticipated
trends and developments in and management plans for our business and the
markets in which we operate; future financial results, operating
results, revenues, gross margin, operating expenses, products, projected
costs, warranties, solar module efficiency and balance of systems
("BoS") cost reduction roadmaps, restructuring, product reliability and
capital expenditures; our ability to continue to reduce the cost per
watt of our solar modules; our ability to reduce the costs to construct
photovoltaic ("PV") solar power systems; research and development
programs and our ability to improve the conversion efficiency of our
solar modules; sales and marketing initiatives; and competition. These
forward-looking statements are often characterized by the use of words
such as "estimate," "expect," "anticipate," "project," "plan," "intend,"
"believe," "forecast," "foresee," "likely," "may," "should," "goal,"
"target," "might," "will," "could," "predict," "continue" and the
negative or plural of these words and other comparable terminology.
Forward-looking statements are only predictions based on our current
expectations and our projections about future events. You should not
place undue reliance on these forward-looking statements. We undertake
no obligation to update any of these forward-looking statements for any
reason. These forward-looking statements involve known and unknown
risks, uncertainties, and other factors that may cause our actual
results, levels of activity, performance, or achievements to differ
materially from those expressed or implied by these statements. These
factors include, but are not limited to, the matters discussed in Item
1A: "Risk Factors," of our most recent Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other
reports filed with the SEC.
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First Solar Media
Steve Krum
+1 602-427-3359
steve.krum@firstsolar.com
or
First
Solar Investors
Stephen Haymore
+1 602-414-9315
stephen.haymore@firstsolar.com
Source: First Solar, Inc.
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