First Solar expects lower sales in 2020 despite production increase

Facebook
Twitter
LinkedIn
Reddit
Email
The SMSL said that its expected 2020 third party module net sales to account for approximately 70% of the total net sales. Module production in 2019 hit 5,662MW as the company shifts to its large area Series 6 modules. However, module shipments are expected to in a tight range of between 5.8GW to 6.0GW in 2020. Image: First Solar

‘Solar Module Super League’ (SMSL) member First Solar has forecasted net sales for 2020 to be in the range of US$2.7 billion to US$2.9 billion, compared to reporting 2019 sales of US$3,063 billion. 

The SMSL said that its expected 2020 third party module net sales to account for approximately 70% of the total net sales. Module production in 2019 hit 5,662MW as the company shifts to its large area Series 6 modules.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

However, module shipments are expected to in a tight range of between 5.8GW to 6.0GW in 2020. 

Part of the problem facing First Solar remains its US project development business, which was said to be under review, albeit at a very preliminary stage as potential options to sell the business.
 
“First Solar, at its core, is a technology and module manufacturing company,” said Mark Widmar, CEO of First Solar. “Given the significant evolution of developing utility-scale PV projects in the United States, we believe now is an appropriate time to evaluate our options with respect to our U.S. project development business line.”

As the Series 6 transition continued in 2020, First Solar noted it expected US$5 million to US$15 million of ramp-up costs, while adding US$50 million to US$60 million of plant start-up expense and  US$55 million to US$75 million of ramp-up costs and plant start-up expense impacting operating income, and US$30 million of Series 4 shutdown and other severance costs. 

Read Next

February 28, 2024
US cadmium telluride (CdTe) thin-film module manufacturer First Solar has increased its manufacturing capacity in 2023 by 6.8GW, most of which from its Series 7.
November 20, 2023
Thin-film manufacturer First Solar is well placed to weather any downturn in PV manufacturing going into 2024.
August 2, 2021
First Solar has lowered its earnings and module shipment guidance for 2021 as the company continues to anticipate elevated shipping costs for the remainder of the year.
June 9, 2021
First Solar has unveiled plans to more than double its US manufacturing capacity with a 3.3GWdc facility in Ohio that will produce thin film PV modules for the country’s utility-scale solar sector.
Premium
April 30, 2021
‘Solar Module Super League’ (SMSL) member First Solar has hit a nameplate Series 6 CdTe thin film manufacturing capacity of 7.9GW in the first quarter of 2021, after ramping its second and last converted factory in Malaysia.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
May 29, 2024
11am (EDT) / 5pm (CEST)
Solar Media Events
June 4, 2024
London, UK
Upcoming Webinars
June 11, 2024
3:00 PM (BST) / 4:00 PM (CEST)
Solar Media Events
July 2, 2024
Athens, Greece