First Solar (FSLR +2.38%) develops and manufactures thin-film solar panels that use their larger size to generate more energy than competing technologies, making them ideal for utility-scale solar energy projects.
As one of the world’s leading solar panel makers, the company is in an excellent position as demand for solar panels accelerates. It’s actively investing to increase its capacity to produce solar panels and meet demand. In mid-2026, it had contracts in place to sell 45.1 gigawatts of panels through 2030, giving it significant visibility into future revenue ($13.6 billion)
First Solar has the means to continue expanding, thanks to one of the sector’s best balance sheets. Even with its heavy investments in building new manufacturing capacity, the company expects to end 2026 with $1.7 billion to $2.3 billion in net cash. The cushion provides it with tremendous financial flexibility to continue expanding and capitalize on the increasing demand for solar panels. In late 2025, the company announced plans to invest $300 million to build a new U.S. production facility in South Carolina, with operations expected to begin in the second half of 2026.
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