First Solar Expands with New Facilities in Alabama and Louisiana

First Solar Inc. (NASDAQ: FSLR) has made a significant stride in its commitment to American manufacturing and renewable energy with the inauguration of its new $1.1 billion solar panel manufacturing facility in Lawrence County, Alabama. This facility, which adds 3.5 gigawatts (GW) of fully vertically integrated nameplate solar manufacturing capacity in the United States, is expected to create over 800 new energy technology manufacturing jobs in the state. The project, announced in November 2022, represents a major investment in the U.S. renewable energy market and a step towards energy independence.

The Alabama facility is part of a broader expansion strategy by First Solar. Along with its three operating factories in Ohio, the company's domestic nameplate manufacturing capacity will reach almost 11 GW once fully ramped. Additionally, First Solar is constructing a $1.1 billion, 3.5 GW facility in Louisiana, which is expected to be commissioned in the second half of 2025. This expansion will bring the company's total domestic capacity to over 14 GW and its global capacity to over 21 GW by the end of 2026.

The economic impact of these new facilities is substantial. According to a comprehensive economic analysis conducted by the Kathleen Babineaux Blanco Public Policy Center at the University of Louisiana, Lafayette, First Solar's operations in 2023 supported a total of 16,245 direct, indirect, and induced jobs and nearly $1.6 billion in labor income in the U.S. economy. The company's operations also supported a total of nearly $2.8 billion in value added and almost $5.3 billion in total output when including indirect and induced economic effects.

By 2026, after the ongoing expansions in Alabama, Louisiana, and Ohio are complete, annual operational impacts on the U.S. economy are projected to grow to a total of more than 30,000 jobs and almost $2.8 billion in labor income. Operating at that scale will support nearly $5 billion in value added and over $10 billion in output to the U.S. economy, including direct, indirect, and induced economic effects.

First Solar's commitment to American manufacturing is evident in its investments. Between 2016 and 2026, the company expects to have invested approximately $4 billion in manufacturing and research and development infrastructure in the United States. This investment demonstrates First Solar's dedication to supporting the U.S. economy and creating a sustainable future. The company's unique position as the only U.S.-headquartered solar manufacturer that does not manufacture in China further solidifies its role in enhancing America's energy independence and security.

The new facilities in Alabama and Louisiana are not just about job creation and economic growth; they are also about innovation and technology leadership. First Solar's advanced manufacturing process allows it to transform a sheet of glass into ready-to-ship thin film solar panels in approximately four hours. The Series 7 modules produced in these facilities use Alabama-sourced steel, smelted, rolled, and fabricated within a 25-mile radius of the facility. This vertical integration and use of American-made components underscore First Solar's commitment to innovation and technology leadership.

In summary, the establishment of new facilities in Alabama and Louisiana by First Solar Inc. aligns with the company's strategic goals of expanding domestic manufacturing capacity, creating jobs, innovating technology, and positioning itself as a leader in the global solar energy market. These facilities will have a profound economic impact on local communities and the broader U.S. economy, contributing to a more robust and sustainable economic future for the United States.