Solar firm breaks industry price barrier

First Solar Inc. says it’s broken the $1 (US) per watt price barrier for the cost of manufacturing solar modules, achieving a price of 98 cents per watt.

“This achievement marks a milestone in the solar industry’s evolution toward providing truly sustainable energy solutions,” said Mike Ahearn, CEO of First Solar. He added that clean-energy efforts by governments in Germany and other countries helped make the breakthrough possible.

“Without forward-looking government programs supporting solar electricity, we would not have been able to invest in the capacity expansion which gives us the scale to bring costs down,” Ahearn said. “First Solar’s ongoing focus on cost reduction enables continued growth even as subsidies decline. In the meantime, those initial investments are paying off in a cleaner environment and in the creation of thousands of jobs with a clear future.”

Based in Tempe, Arizona, First Solar began commercial manufacture of solar modules in 2004. Since then, it’s increased its output to more than 500 megawatts, and expects to double that production in 2009.