First Solar mulls US manufacturing expansion in wake of Trump tax boost

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
First Solar's large-format Series 6 module will be built in five facilities in Ohio, Vietnam and Malaysia.

First Solar could establish new US-based manufacturing capacity citing President Donald Trump’s corporate tax reforms as the key enabler.

The company is establishing production of its large-format Series 6 module across five facilities in Ohio, Vietnam and Malaysia.

CEO Mark Widmar, while adding plenty of caveats, acknowledged that the option was back on the table.

“…As we look at the tax reform and what's happening now with the US corporate tax rate, when you look at immediate expensing, there's optionality potentially or there's scenarios I guess maybe is a better way to say that we would look to in the US to add additional manufacturing as part of our overall scenario analysis across the global production platform,” he said during the companies most recent earnings call.

“Looking at the US has a different lens than it would have otherwise before tax reform,” said Widmar adding that any additional capacity would be in the order of hundreds if MWs rather than the GW scale.

Corporate tax in the US was cut from 35% to 21% by the President.

First Solar is sold out till 2020 and more than three-quarters of the 6.8GW potential bookings flagged in its results are in North America where it has been buoyed by the Section 201 tariffs on overseas crystalline silicon-based PV competitors.

Transcript by Seeking Alpha

Read Next

June 16, 2021
Meyer Burger will no longer sell the heterojunction cells it produces to third parties in a major shift in strategy, accelerating its capacity expansion plans in the process.
June 15, 2021
The confidence of renewable energy investors and developers stands at an “all-time high”, a new report by the American Council on Renewable Energy (ACORE) claims, however investment must surge in the coming years if the US is to meet decarbonisation goals.
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.
PV Tech Premium
June 9, 2021
Price increases in polysilicon and other auxiliary solar module materials have exerted much pressure on manufacturers, JA Solar has said, impacting on profitability in the first half of 2021. Xinming Huang, senior vice president at JA Solar, tells PV Tech how the company is responding.
PV Tech Premium
June 7, 2021
Soaring polysilicon costs have tipped the solar manufacturing industry to the brink of crisis and while only expected to be in the short-term, the ramifications in 2021 could be significant. On the sidelines of SNEC 2021, Carrie Xiao speaks to experts from across the value chain to determine how solar PV can tackle supply chain constraints.
June 3, 2021
PV Tech reports live from the show floor at SNEC PV Power Expo 2021, bringing you exclusive video interviews, insight, analysis and product reviews. Today's videos include Sungrow FPV, Seraphim, Growatt and more.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021