First Solar Projected to Support Nearly 40,000 American Jobs, Contribute $7.8 Billion to US GDP Annually by 2027

Key Terms

thin film photovoltaic (pv) technical

Thin film photovoltaic (PV) describes solar panels made by laying very thin layers of light-absorbing material onto a backing like glass, metal or plastic, rather than cutting rigid wafers. Think of it as coating a surface with a sun-catching film instead of assembling many thick tiles. Investors care because thin-film panels can be cheaper to produce, lighter and adaptable to new uses, but often trade off efficiency and long-term durability—factors that affect manufacturing costs, sales growth and replacement cycles.

• Supported jobs expected to increase by almost 10,000 from 2025 to 2027
• Jobs growth represents almost $1 billion increase in estimated labor income from $3 billion in 2025 to $4 billion in 2027
• Estimated US GDP contribution expected to rise from $5.8 billion in 2025 to $7.8 billion in 2027

PHOENIX--(BUSINESS WIRE)-- A new economic impact study released today by First Solar, Inc. (Nasdaq: FSLR) (“First Solar” or “the Company”), details its estimated contributions to the US economy. The Kathleen Babineaux Blanco Public Policy Center at the University of Louisiana at Lafayette, using IMPLAN economic modeling software, analyzed First Solar’s actual and forecasted US spending in 2025 and 2027. First Solar expects to operate approximately 18 gigawatts (GW) of annual nameplate solar module production capacity across six manufacturing facilities in Alabama, Louisiana, Ohio, and South Carolina, by 2027.

First Solar’s US operations supported an estimated 29,605 direct, indirect, and induced jobs nationwide in 2025, representing approximately $3 billion in labor income — a fully-loaded average of $101,145 per worker, which is more than double the national median personal income. This data does not include downstream impacts such as the development, construction, and maintenance of solar power plants using First Solar’s technology.

Key findings included:

• First Solar’s US operations supported an estimated 29,605 direct, indirect, and induced jobs nationwide in 2025, representing approximately $3 billion in labor income — a fully-loaded average of $101,145 per worker, which is more than double the national median personal income. This data does not include downstream impacts such as the development, construction, and maintenance of solar power plants using First Solar’s technology.
• By 2027, the Company is projected to support 39,320 jobs and approximately $4 billion in annual labor income, inclusive of direct, indirect, and induced effects, representing an increase of almost 10,000 jobs and $1 billion in labor income between 2025 and 2027.
• In 2025, every First Solar job supported an estimated 6 direct, indirect, and induced jobs. This number is in line with the large impacts documented in 2023 and based on projections would have a similar multiplier when looking ahead to 2027. By comparison, the National Association of Manufacturers estimates that every manufacturing job supports 4.8 jobs in the overall US economy.
• First Solar contributed an estimated $5.8 billion in direct, indirect, and induced value to the US economy in 2025. Its annual contribution to US gross domestic product (GDP) is forecast to increase 28 percent to approximately $7.8 billion in 2027.
• First Solar’s US capital investments supported an estimated 10,370 additional direct, indirect, and induced jobs in 2025 — primarily tied to construction activity — representing nearly $900 million in labor income and contributing and additional $1.6 billion to US GDP.

“This study demonstrates how genuinely American solar manufacturing can deliver long‑term economic value at the intersection of national priorities such as energy dominance, affordable electricity, and economic prosperity,” said Mark Widmar, chief executive officer, First Solar. “We’re proud to contribute to America’s reindustrialization through our manufacturing and supply chain investments, as our technology works alongside all other forms of energy generation to produce affordable, reliable electricity to power growth and prosperity.”

First Solar began tracking its economic impacts in 2023 and the table below compares key economic impact metrics across focus years:

	2023 Estimated	2025 Estimated	2027 Projected
Total* jobs	16,245	29,605	39,320
Total* labor income	$1.6 B	$3.0 B	$4.0 B
Total* GDP contribution	$2.8 B	$5.8 B	$7.8 B
* Includes direct, indirect, and induced effects.

The study’s findings are unique to First Solar, which operates fully vertically integrated solar manufacturing facilities that produce thin film photovoltaic (PV) solar panels in a single process that integrates the manufacturing of wafers and cells. The process allows the company to transform a sheet of glass into a fully functional solar panel in approximately four hours. Additionally, First Solar relies primarily on an American value chain for the raw materials, including glass and steel, that enable its US manufacturing operations.

Notably, the study’s release follows the results of a recent national poll conducted by Fabrizio, Lee & Associates for First Solar, which found widespread support for solar energy among Republicans, Republican‑leaning independents, and voters who supported President Donald J. Trump (GOP+). Among the 800 GOP+ voters surveyed, support for utility‑scale solar rose to as much as 70 percent when the panels are American‑made, and 51 percent said they are more likely to vote for a candidate who supports an American company building a solar panel manufacturing plant in the US.

Having manufactured in the America since 2002, First Solar is the country’s leading PV solar technology and manufacturing company. It operates the largest solar technology manufacturing and research and development (R&D) footprint in the Western Hemisphere with five operational manufacturing facilities in Alabama, Louisiana, and Ohio, and a sixth plant under construction in South Carolina, which is expected to begin operation in the second half of 2026. The new South Carolina facility is expected to increase First Solar’s capacity to produce American-made solar technology by 3.7 GW, with the Company reaching approximately 18 GW of annual nameplate capacity in 2027. Altogether, the Company will have invested approximately $4.5 billion in American manufacturing and R&D infrastructure since 2019.

About First Solar, Inc.

First Solar, Inc. is America's leading PV solar technology and manufacturing company. The only US-headquartered company among the world's largest solar manufacturers, First Solar is focused on competitively and reliably enabling power generation needs with its advanced, uniquely American thin film PV technology. Developed at research and development (R&D) labs in California and Ohio, the Company's technology represents the next generation of solar power generation, providing a competitive, high-performance, and responsibly produced alternative to conventional crystalline silicon PV modules. For more information, please visit www.firstsolar.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains various “forward-looking statements” which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements concerning: (i) plans to establish a new production facility in South Carolina; (ii) expectations that facility will commence commercial operations in the second half of 2026; (iii) expectations that the facility will have an annual nameplate capacity of 3.7 gigawatts and that First Solar will have a total US nameplate capacity of approximately 18 GW in 2027; and (iv) our expectation that First Solar will have invested approximately $4.5 billion in American manufacturing and R&D infrastructure from 2019 to 2026. These forward-looking statements are often characterized by the use of words such as “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “seek,” “believe,” “forecast,” “foresee,” “likely,” “may,” “should,” “goal,” “target,” “might,” “will,” “could,” “predict,” “continue” and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on First Solar’s current expectations and First Solar’s projections about future events and therefore speak only as of the date of this release. You should not place undue reliance on these forward-looking statements. First Solar undertakes no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause First Solar’s actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, the results of our investigation of potential infringers, the costs and other impacts arising from any subsequent litigation, the results of which are unpredictable; the validity and scope of claims relating to the patents; the potential for companies to develop and patent technology designed to exclude our patented technology; and the matters discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of First Solar’s most recent Annual Report on Form 10-K, as supplemented by First Solar’s other filings with the Securities and Exchange Commission.

This press release contains references to data and information generated by economic studies conducted by the Kathleen Babineaux Blanco Public Policy Center at the University of Louisiana at Lafayette, and commissioned by the Iberia Economic Development Authority and First Solar. The study commissioned by First Solar is based on numerous assumptions, estimates and other data as more fully described in the report summarizing the study’s findings, which is available at www.firstsolar.com/USeconomy.

 

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Media

Reuven Proença

First Solar Media

media@firstsolar.com

Investors

Byron Jeffers

First Solar Investor Relations

investor@firstsolar.com

Source: First Solar, Inc.