First Solar Forecasts a Decrease in Sales in 2020

PV TechFebruary 24, 2020388

Summary:

After a successful fourth quarter in 2019, solar company First Solar is predicting a loss in net sales. The solar company expects this decrease even though they are increasing their solar module production.

Main Article:

First Solar Forecasts a Decrease in Sales in 2020

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 solar module net sales to account for approximately 70% of the total net sales. Solar module production in 2019 hit 5,662MW as the solar company shifts to its large area Series 6 solar panels.

However, solar panel 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 solar panel installation 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. 

If you’re interested in going solar, see how much you can save by using the HahaSmart price checker tool and you can design your own solar-powered system using the design DIY tool.

Solar system price checker

Comments

Design Your Solar Home

START

Hot spots

12 3

Input your address to see if it is solar friendly and how much you can save with solar.

Great. Your address is perfect for solar. Solar incentive is still available. Select monthly utility cost and calculate the size of solar system you will need now.

Whoa ! Going solar is definitely a smart decision.

kw System size years Payback period Lifetime savings

No money down, 100% finance is available.

adv

Get the Best Solar Modules on the Market Here!

Do not show this information again.