First Solar’s Expansion Could Boost U.S. Economy by $5 Billion and Create Over 16,000 Jobs by 2026.

First Solar, Inc. commissioned an economic analysis of the vertically integrated solar manufacturer’s value chain in the United States. The study, conducted by the Kathleen Babineaux Blanco Public Policy Center at the University of Louisiana at Lafayette, found that First Solar, which produces thin film solar modules in a single process, could have a $5 billion impact on the U.S. economy by 2026. The company plans to expand its Ohio footprint to over 7 GW of annual nameplate capacity in 2024, and invest over $2 billion in new manufacturing facilities in Alabama and Louisiana. First Solar is also investing up to $450 million in R&D infrastructure in Perrysburg, Ohio, expected to be operational in 2024. The report found that in 2023, First Solar supported an estimated 16,245 direct, indirect, and induced jobs across the country, representing $1.59 billion in annual labor income.