First Solar Case Study

Satisfactory Essays
Company introduction: First solar, Inc. is an American manufacturer of thin film photovoltaic (PV) modules, better known as solar panels. The company has an opportunity to expand into other regions, making the company more profitable. The company was founded in 1990, by Harold McMasters as Solar Cells, Inc., and it was then purchased by the True North Partners, LLC, who rebranded it as First Solar Inc. First Solar headquarters’ is located in Tempe, Arizona, U.S. The company went public in 2006, trading on the NASDAQ. First solar is ranked as the second largest maker of solar panels modules worldwide. They specialize in manufacturing photovoltaic modules, and also serve as providers of photovoltaic power plants. First solar became the first solar panel manufacturing company to “lower its manufacturing cost to $1 per watt and that has been done through their replacement of crystalline silicon for cadmium telluride as their semiconductor” to create panels (Lynley, 2011). The manufacturing company continues to grow and improve their products as well. We will be exporting our photovoltaic products to the Dominican Republic. The reason we chose to export solar panels to the Dominican Republic is simply because it is one of our smallest products yet the most accessible one. Market Description The market for sustainable energy has been growing over the last couple of years. The reason the energy market continues to grow is because there is a global need for energy security, which is due climate changes that has been caused by the actual energy method that most c... ... middle of paper ... ... existence in the market. Pricing Even though that photovoltaic systems are one of the fastest growing among the sustainable energy market. First Solar, sale their products to low-income individuals, these individuals will have an option to finance their solar panels system. There is an option of getting just a full loan or just the amount needed to purchase the product, and will only be require to pay only 5% per month of the amount loaned that is with exclusion of a 10% interest fee. The product will be interest free for the first 3 months and the length of the loan payments will be for 20 months. First Solar will make their prices extremely flexible for the Dominican market, this simply strategic way of penetrating the market in a way that both parties will benefit. Our products will get to be known in the market, and this will generate positive brand awareness.
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