Thin film record 22.1 percent research cell continues performance
advancement trend
TEMPE, Ariz.--(BUSINESS WIRE)--
First Solar, Inc. (Nasdaq: FSLR) today announced it has established yet
another world record for cadmium-telluride (CdTe) photovoltaic (PV)
research cell conversion efficiency, achieving 22.1 percent efficiency
certified at the Newport Corporation's Technology and Applications
Center (TAC) PV Lab. The achievement confirms that First Solar is on
pace with its established research cell roadmap, and validates CdTe's
growing competitive advantage over multi-crystalline silicon technology
and other commercial thin film PV.
The record-setting research cell was constructed at the company's
Perrysburg, Ohio manufacturing factory and Research & Development Center
using processes and materials suitable for commercial-scale
manufacturing. In addition to the Newport TAC Lab certification, the
record has been documented in the U.S. Department of Energy's National
Renewable Energy Laboratory (NREL) "Best
Research Cell Efficiencies" reference chart.
This is the ninth substantial update to CdTe record efficiency since
2011, firmly establishing a sustained trend of rapid performance
improvements that significantly outstrips all other commercial
technologies.
"We are tracking very closely to a technology roadmap we first presented
in 2013 and revised upward in March 2014," said Raffi Garabedian, First
Solar's Chief Technology Officer. "At that time, we said we'd hit a 22
percent research cell efficiency milestone by the end of 2015. We've
delivered on that promise. The accomplishment validates our continued
confidence in CdTe as a superior PV material that combines cost
effectiveness, reliability and high performance. In recent years and
based on our research cell progress, we've improved the efficiency and
energy density of our mass produced commercial PV modules at a rate at
least three times faster than our multi-crystalline Si competitors. We
fully expect to further separate ourselves from the pack in coming
years."
Garabedian noted that First Solar's lead manufacturing lines were
producing PV modules with 16.4 percent conversion efficiency in 4Q 2015,
and that the research cell efficiency accomplishment serves as a
powerful driver for integrating performance improvement into the
real-world manufacturing environment.
More Energy
Conversion efficiency of CdTe is one of several factors that translate
to superior performance of First Solar's technology in the field, which
have a proven specific energy yield advantage, delivering more usable
energy per nameplate watt than conventional c-Si modules. In other
words, a PV power plant operator gets more energy (or higher Capacity
Factor) for the same capital investment using First Solar modules, with
a lower Levelized Cost of Electricity (LCOE). First Solar also has
numerous certifications documenting industry-leading reliability,
including Atlas 25+ certification, Long Term Sequential Test (harsh
climates), IEC 62804 PID-Resistant Certification (resistance to
degradation) and a track record of long-term predictability.
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: effects on our financial statements and
guidance resulting from pending tax matters; 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 (including estimated future module collection
and recycling costs), warranties, solar module efficiency and balance of
systems cost reduction roadmaps, restructuring, product reliability,
investments in unconsolidated affiliates 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 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," "seek," "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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