Ultimately, First Solar's prospects are intertwined with global grow trends over the next several years. Such growth will be tied to government subsidies, which have waned as governments around the world seek to close budget gaps and rein in spending. And despite strides in efficiency and lower pricing, solar power still costs more than conventional generation sources and is only as reliable as the sunshine that feeds it. On the positive side, some analysts see increased demand in the U.S. and China as prices drop, and continued popularity in Europe despite fewer government subsidies.
"As the price of solar power declines more people will want to use it," says Robinson. "People want to do the right thing. They just don't want to pay more than they would for traditional energy sources to do it."
FIRST SOLAR FACTS
Ticker: FSLR
Business: Design and manufacture of solar panels using thin-film technology
Headquarters: Tempe, Ariz., with manufacturing facilities in Ohio, Germany and Malaysia
Founded: 1999
Initial Public Offering: 2006
Price/Earnings: 17.4
Price/Cash Flow: 15.5
Price/Sales: 4.8