FSLR · 10-Q · 2026Q3 · Full report

Domestic Manufacturing Tax Credits

FIRST SOLAR, INC. · 2026-10-29 · Importance 58 · Surprise 42

First Solar expects to qualify for the U.S. Inflation Reduction Act’s Section 45X advanced manufacturing production credit, available from 2023 through 2032 and subject to a phase-down beginning in 2030. Based on current module form factors, it estimates credits of up to approximately $0.17 per watt for modules fully produced in the United States and approximately $0.07 per watt for modules initiated by its international fleet and completed in the United States. The company expects the credit to be a significant funding source throughout the remaining credit period and says the IRA incentives have significantly increased demand for U.S.-manufactured modules.

Key facts

• First Solar expects Section 45X advanced manufacturing production credits to be available from 2023 to 2032, subject to phase down beginning in 2030, and expects those credits to provide significant funding throughout the remaining period. source
• Based on current module form factors, First Solar believes it qualifies for up to approximately 17 cents per watt for each module fully produced in the United States and sold to a third party. source
• For each module initiated by First Solar's international fleet and completed in the United States, it expects to qualify for a Section 45X credit of approximately 7 cents per watt. source
• First Solar expects Section 45X credits to favorably impact liquidity and capital resources in future periods. source