First Solar Releases Study Analyzing Economic Impact of American Manufacturing and Supply Chain Investments


-First Photo voltaic forecast to assist greater than 30,000 direct, oblique, and induced jobs representing roughly $2.8 bn in labor revenue by 2026. -Examine reveals that every First Photo voltaic job in 2026 is anticipated to assist 7.3 jobs all through the nation. -The photo voltaic producer is anticipated so as to add $5 bn in worth and over $10 bn in output to the 2026 US financial system.

First Photo voltaic, Inc. (Nasdaq: FSLR) launched what’s believed to be the primary complete financial evaluation of a vertically built-in photo voltaic producer’s worth chain in the US. The examine, commissioned by First Photo voltaic and performed by the Kathleen Babineaux Blanco Public Coverage Heart on the College of Louisiana at Lafayette, used IMPLAN financial software program to investigate precise and projected US spending by First Photo voltaic in 2023 and 2026 if the corporate expects with 14 gigawatts. (GW) of annual nameplate capability all through Alabama, Louisiana, and Ohio.

The examine discovered that by 2023:

First Photo voltaic helps an estimated 16,245 direct, oblique, and induced jobs nationwide, representing $1.59 billion in annual labor revenue. With 2,700 workers and practically $490 million in direct labor income, each non-construction First Photo voltaic job helps six direct, oblique, and induced jobs throughout the US financial system, and each greenback which is spent straight on wages generates $3.3 in labor revenue.

The absolutely vertically built-in photo voltaic producer, which exits in 2023 with greater than 6 GW of annual nameplate capability, added $2.75 billion in worth and $5.32 billion in output to the US financial system within the 12 months, together with direct, non straight, and results.

The corporate’s building exercise in Alabama, Louisiana, and Ohio helps an estimated 5,765 direct, oblique, and induced jobs, representing greater than $600 million in labor revenue. Its building exercise is estimated so as to add greater than $900 million in financial worth and practically $2 billion in financial output by 2023.

Analyzing First Photo voltaic’s projected US spending by 2026, the examine initiatives that:

With the corporate anticipated to straight make use of 4,100 individuals, it is going to assist roughly 30,060 direct, oblique, and induced jobs nationwide by 2026. The examine estimates that each First Photo voltaic job will assist of seven.3 jobs nationwide, representing an estimated complete labor. income of $2.78 billion together with direct, oblique, and results.

First Photo voltaic will add an estimated $4.99 billion in worth and $10.18 billion in output to the US financial system by 2026 alone. The findings are based mostly on the corporate’s expectation that it’ll have 14 GW of nameplate capability in US operations by 2026 and embrace direct, oblique, and induced impacts.

The examine’s findings are distinctive to First Photo voltaic, which operates absolutely vertically built-in photo voltaic manufacturing services that produce skinny movie photovoltaic (PV) photo voltaic panels in a course of that mixes the manufacturing of wafers and cells. The method permits the corporate to remodel a sheet of glass into a completely useful photo voltaic panel in roughly 4 hours. As well as, First Photo voltaic depends totally on an American worth chain for uncooked supplies, together with glass and metal, that allow US manufacturing operations.

“This report exhibits the true worth of photo voltaic expertise made in America for America, with supplies sourced from companies throughout the nation, and never simply assembled right here utilizing imported parts,” Mark mentioned. Widmar, chief govt officer, First Photo voltaic. “We all know that our investments, sponsored by the Inflation Discount Act, have enabled jobs and introduced prosperity to communities in locations like Lawrence County, Alabama, Iberia Parish, Louisiana, and Crawford County, Pennsylvania, and this report will assist quantify the extent of our contribution to the US financial system in actual phrases.”

Along with increasing its footprint in Ohio to greater than 7 GW of annual nameplate capability this 12 months, the photo voltaic expertise and manufacturing firm expects to speculate greater than $2 billion in new manufacturing services in Alabama and Louisiana, that are anticipated to return on-line in 2024 and 2026, respectively. As well as, First Photo voltaic is investing as much as $450 million in R&D infrastructure in Perrysburg, Ohio, which is anticipated to be operational by 2024.

The total examine is accessible at www.firstsolar.com/USeconomy.

About First Photo voltaic, Inc.

First Photo voltaic is a number one American photo voltaic expertise firm and international supplier of accountable manufacturing of eco-efficient photo voltaic modules that advance the combat in opposition to local weather change. Developed in R&D labs in California and Ohio, the corporate’s superior skinny movie PV modules characterize the subsequent technology of photo voltaic applied sciences, offering a aggressive, high-performance, lower-carbon different to traditional crystalline silicon PV modules. From the sourcing and manufacturing of uncooked supplies by means of the recycling of the end-of-life module, First Photo voltaic’s method to expertise encompasses sustainability and duty to individuals and the planet. For extra info, please go to www.firstsolar.com.



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