First Solar becomes the Solar Industry’s First EPEAT Climate+ Champion, Setting Global Standard for Ultra-Low Carbon Solar
First Solar (NASDAQ: FSLR) has announced that its Series 6 Plus and Series 7 TR1 photovoltaic (PV) solar modules are the first to achieve the EPEAT Climate+ designation. This designation sets a new global standard for ultra-low carbon solar, establishing benchmarks for quality, durability, and environmental performance with an ultra-low carbon threshold of ≤400 kg CO2e/kWp.
EPEAT, a globally recognized ecolabel, evaluates the entire lifecycle of solar modules, including manufacturing energy use, product packaging, and end-of-life recycling. First Solar's Series 7 modules currently have the lowest carbon and water footprint of any commercially available PV module, positioning the company as a leader in sustainable solar technology. The company plans to validate its Series 7 FT1 module, manufactured in India, for future EPEAT Climate+ designation.
- First Solar's Series 6 Plus and Series 7 TR1 modules are the first PV modules to achieve EPEAT Climate+ designation.
- EPEAT is a globally recognized ecolabel evaluating the entire lifecycle of solar modules.
- First Solar's Series 7 modules have the lowest carbon and water footprint of any commercially available PV module.
- EPEAT Climate+ helps purchasers reduce scope 3 emissions from solar installations.
- The recognition reinforces First Solar's industry leadership in sustainable solar technology.
- The press release does not provide specific financial benefits or revenue impact from the EPEAT Climate+ designation.
- First Solar's Series 7 FT1 module, manufactured in India, is not yet validated for the EPEAT Climate+ designation.
- Potential costs related to achieving and maintaining EPEAT Climate+ designation are not disclosed.
Insights
First Solar's achievement in earning the EPEAT Climate+ designation for its Series 6 Plus and Series 7 TR1 PV modules marks a significant milestone in the solar industry. Ultra-low carbon thresholds of ≤400 kg CO2e/kWp set a new standard that other manufacturers might strive to meet, promoting a broader industry shift towards sustainable practices.
EPEAT's recognition addresses the entire product lifecycle, which includes eco-friendliness in manufacturing, packaging, recycling and corporate responsibility. This comprehensive approach is especially pertinent as companies face increasing scrutiny over their environmental impact. For investors, this achievement highlights First Solar's commitment to sustainability, potentially enhancing the company’s brand reputation and marketability in eco-conscious segments.
In the long-term, this achievement might positively influence First Solar's positioning in the market, aligning it with global decarbonization goals and potentially attracting eco-investors and governmental support. However, in the short-term, the impact on financials will need careful monitoring to see if this green credential translates into increased sales or market share.
The technological implications of First Solar's achievement are notable. By reaching the EPEAT Climate+ standard, the company demonstrates innovation in reducing the carbon footprint of its solar modules. It underscores the technological advancement in thin-film PV modules, which are already known for their efficiency and lower material usage compared to traditional silicon-based modules.
This innovation may position First Solar as a technological leader, driving the industry forward. The EPEAT Climate+ designation could serve as a catalyst for further research and development in sustainable solar technologies, encouraging other companies to invest in similar innovations. However, it's essential to watch how quickly competitors can adopt similar standards, which may level the playing field.
From a market perspective, First Solar's new designation can differentiate its products in a crowded solar market. The EPEAT Climate+ label could be a decisive factor for institutional buyers and governments prioritizing low-carbon solutions, potentially broadening First Solar’s customer base.
The company's unique selling proposition now includes not just high performance but also environmental responsibility. However, it's important to consider the competitive landscape. As more firms potentially achieve similar certifications, the uniqueness of EPEAT Climate+ might diminish over time. Investors should monitor market adoption and competitive responses closely.
- EPEAT for Solar is the only global ecolabel to evaluate the embodied carbon of solar modules
- Series 6 Plus and Series 7 modules meet ultra-low carbon threshold of ≤400 kg CO2e/kWp; first PV modules to achieve Climate+ designation
First Solar has become the solar industry’s first EPEAT Climate+ Champion, setting a new global standard for ultra-low carbon solar. (Photo: Business Wire)
EPEAT is a globally recognized ecolabel that includes independent validation and allows for the easy identification of environmentally preferable products from socially responsible companies. EPEAT addresses the whole product life cycle, including managing substances in the product, manufacturing energy and water use, product packaging, end-of-life recycling, corporate responsibility, and human rights.
EPEAT Climate+ makes EPEAT the only global ecolabel to address greenhouse gas (GHG) emissions during the different stages of solar module production, and products receiving the designation must meet the ultra-low carbon threshold of ≤400 kg CO2e/kWp. EPEAT Climate+ helps purchasers quickly identify technology products designed and manufactured with climate change mitigation in mind, allowing them to reduce scope 3 emissions of solar installations.
“EPEAT Climate+ helps ensure that purchasers and investors are able to prioritize ultra-low carbon solar technologies that meaningfully support decarbonization efforts,” said Bob Mitchell, chief executive officer, Global Electronics Council (GEC). “This is a simple, yet effective tool to mitigate lifecycle carbon impacts of solar modules, while enabling a market for responsibly manufactured technologies that embody sustainability.”
First Solar’s responsibly produced, advanced thin film PV modules already set industry benchmarks for quality, durability, reliability, design, and environmental performance and its Series 7 modules have the lowest carbon and water footprint of any commercially available PV module today.
“As we add yet another differentiating factor that separates our technology from the competition, we are reminded that not all solar is created equal and that embodied carbon remains a challenge for the solar industry,” said Samantha Sloan, vice president of Policy, Sustainability, and Marketing, First Solar. “With EPEAT Climate+, our customers now benefit from a global standard that allows them to confidently procure solar modules that lower their scope 3 emissions and are responsibly made. We encourage other manufacturers to embrace this global validation standard and contribute to the effort to reinforce our industry’s license to operate.”
First Solar’s Series 6 Plus and Series 7 TR1 became the first solar modules to be included in a list of nearly 1,500 products produced by leading electronics brands known as EPEAT Climate+ Champions. The company intends to validate the environmental footprint of its Series 7 FT1 module, which is manufactured in
About First Solar, Inc.
First Solar is a leading American solar technology company and global provider of responsibly produced eco-efficient solar modules advancing the fight against climate change. Developed at R&D labs in
For First Solar Investors
This release contains forward-looking statements, which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to statements concerning First Solar’s intent to validate the environmental footprint of its Series 7 FT1 module with the goal of achieving an EPEAT Climate+ designation. These forward-looking statements are often characterized by the use of words such as “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “seek,” “believe,” “forecast,” “foresee,” “likely,” “may,” “should,” “goal,” “target,” “might,” “will,” “could,” “predict,” “continue” and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on our current expectations and our projections about future events and therefore speak only as of the date of this release. You should not place undue reliance on these forward-looking statements. We undertake no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, the matters discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our most recent Annual Report on Form 10-K, as supplemented by our other filings with the Securities and Exchange Commission.
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Media
Reuven Proença
First Solar Media
media@firstsolar.com
Investors
Richard Romero
First Solar Investor Relations
investor@firstsolar.com
Source: First Solar, Inc.
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