First Solar, Inc. – One of Jim Cramer’s longtime Picks
By enabling clean, renewable electricity at lower costs, First Solar is providing a sustainable alternative to conventional energy sources. Jim Cramer of CNBC’s Mad Money has recommended First Solar for a long time.
This goal has driven First Solar to become one of the fastest growing manufacturers of solar modules in the world. Their latest advancements in solar module technology are rapidly driving the cost of solar electricity to rates comparable with traditional fossil fuel-based energy sources.
Company Facts & Figures
- First Solar was formed in 1999 and launched production of commercial products in 2002
- First Solar has achieved the lowest manufacturing cost per watt in the industry, $1.14/watt for the first quarter of 2008
- First Solar is the largest manufacturer of thin film solar modules, having expanded manufacturing capacity to an expected 495 MW in 2008; and with additional plants under construction, First Solar will bring total expected capacity to more than 1 GW by the end of 2009.
- First Solar has long term module supply contracts in place with leading solar project developers for more than 3.4 gigawatts of PV modules (2008 – 2012)
- First Solar developed the first pre-funded module collection and recycling program in the PV industry
- First Solar’s IPO took place on November 17, 2006; Common stock is traded on the NASDAQ Stock Market under the symbol FSLR
