First Solar, Inc. (Nasdaq: FSLR) today announced it reduced its manufacturing cost for solar modules in the fourth quarter to 98 cents per watt, breaking the $1 per watt price barrier.

“This achievement marks a milestone in the solar industry’s evolution toward providing truly sustainable energy solutions,” said Mike Ahearn, First Solar chief executive officer. “First Solar is proud to be leading the way toward clean, affordable solar electricity as a viable alternative to fossil fuels.”



First Solar began full commercial operation of its initial manufacturing line in late 2004. From 2004 through today, manufacturing capacity has grown 2,500 percent to more than 500 megawatts in 2008. First Solar’s annual production capacity will double in 2009 to more than 1 gigawatt, the equivalent of an average-sized nuclear power plant. These escalating volumes have been accompanied by a rapid reduction in manufacturing costs. From 2004 through today, First Solar’s manufacturing costs have declined two-thirds from over $3 per watt to less than $1 per watt. First Solar is confident that further significant cost reductions are possible based on the yet untapped potential of its technology and manufacturing process.

First Solar is not only committed to making solar power affordable but also to making it environmentally sustainable. The Company takes responsibility for its products throughout their life cycle, ensuring that First Solar modules have the smallest carbon footprint of any current photovoltaic (PV) technology. First Solar is proud to have the industry’s first and only comprehensive pre-funded, end-of-life module collection and recycling program, recycling more than 90 percent of each collected module into new products.

Ahearn expressed thanks to governments in Germany and other countries for making today’s milestone 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,” he 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.”

“This represents a major milestone for the solar industry,” said Ken Zweibel, an industry veteran currently serving as Director of the Institute for the Analysis of Solar Energy at The George Washington University and former Program Leader for the Thin Film Partnership Program at the National Renewable Energy Laboratory in Golden, Colo. “In order to address climate change in a meaningful way, we need energy technologies that are affordable, scalable and have a low environmental impact on a life-cycle basis. With this announcement, First Solar continues to demonstrate the ability of thin film PV technology to provide an alternative to traditional fossil fuels and for solar power to provide a meaningful contribution in addressing climate change."

About First Solar

First Solar, Inc. (Nasdaq: FSLR) manufactures solar modules with an advanced semiconductor technology and provides comprehensive PV solutions that significantly reduce solar electricity costs. By enabling clean, renewable electricity at competitive prices, First Solar provides an economic and environmentally responsible alternative to existing peaking fossil-fuel electric generation. First Solar PV power plants operate with no water, air emissions or waste stream. First Solar set the benchmark for environmentally responsible product life cycle management by introducing the industry's first comprehensive collection and recycling program for solar modules. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating cost-effective renewable energy solutions that protect and enhance the environment. For more information about First Solar, please visit http://www.firstsolar.com, or http://www.firstsolar.com/media to download photos.

For First Solar Investors

This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.

Source: First Solar, Inc.

This one is pretty big too, info from solarbuzz..

San Francisco, CA, USA: PG&E Launches 500MW Photovoltaic Initiative

Pacific Gas and Electric Company (PG&E) today announced plans for a five-year program to develop up to 500 megawatts of solar photovoltaic power in its northern and central California service area, one of the largest undertakings of its kind in the country.

The proposed program consists of up to 250 MW of utility-owned PV generation - PG&E's first direct investment in renewable generation in over a decade - and an additional 250 MW to be built and owned by independent developers under a streamlined regulatory process. PG&E is submitting its plan today to the California Public Utilities Commission for approval, which could come later this year.

If all projects are up and running by 2015, they are expected to deliver more than 1,000 gigawatt hours of power each year, equal to the annual consumption of about 150,000 average homes. In all, this program would meet over 1.3 percent of PG&E's electric demand.

"I applaud PG&E for its commitment to making a direct investment in clean, renewable solar energy generation that will eventually power tens of thousands of California homes," said Governor Arnold Schwarzenegger. "By bringing renewables online as quickly as possible and advancing the development of green technologies, this effort will advance California's aggressive push to meet our long-term energy and climate change goals while keeping California on the leading edge of this booming industry."

"This program represents an unprecedented commitment of our capital and expertise to speed the delivery of clean, renewable energy to our customers," said PG&E CEO and President Peter Darbee. "With many renewable-energy projects delayed, we can't afford business as usual when it comes to protecting the environment and meeting our customers' expectations."

PG&E's solar program targets mid-sized projects, typically one MW to 20 MW, mounted on the ground or rooftops, within its service area. Where feasible, projects developed and owned by PG&E would be built on land already owned by the utility or near its substations to minimize the cost and delays of interconnecting them to the power grid.

Projects developed by independent parties would be offered a standard contract and pricing derived from the utility's own costs to streamline review of their applications.

Since 2002, PG&E has entered into contracts for more than 20 percent of its future electric power deliveries from renewable sources. On average, more than 50 percent of the electricity PG&E delivers to its customers comes from generating sources that emit no carbon dioxide, making the company's energy among the cleanest in the nation.

Sue Kateley, Executive Director, California Solar Energy Industries Association: "We're pleased that PG&E is providing significant additional resources to promote the development of solar power in California. Its commitment to solar energy, and its thoughtful balance of utility and privately owned projects under this program, will help ensure continued growth of this market in California, benefitting suppliers, workers and the environment. We look forward to working side-by-side with PG&E to make solar a leading renewable energy resource in the Golden State."

Julia Hamm, Executive Director, Solar Electric Power Association: "PG&E has long stood out in front of its utility peers as a leader in solar electricity. The new 500 MW initiative is just the latest example of the company's commitment to diversifying its electricity portfolio in an intelligent way."

Stuff like this drives the cost further down.