We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Is Perovskite the Future of Solar Panels? Here's First Solar's Take
Read MoreHide Full Article
Key Takeaways
FSLR is advancing perovskite research to develop scalable, high-efficiency thin-film solar products.
The company's new perovskite line is part of its $370M Jim Nolan Center for Solar Innovation in Ohio.
FSLR acquired Evolar AB in 2023 to boost the development of next-gen perovskite-based solar technologies.
Recently, perovskite solar cells have emerged as a promising alternative to traditional silicon panels, offering potentially higher efficiency and lower production costs. With the increased demand for thin-film photovoltaics (PV), First Solar Inc. (FSLR - Free Report) has also been investing in perovskite technology, which is used to build thin-film solar panels.
Notably, in 2023, FSLR acquired Swedish perovskite specialist Evolar AB in a bid to develop and commercially scale high-efficiency thin-film PV technology. Moreover, in July 2024, the company revealed that it is establishing a perovskite development line at its Perrysburg, OH, campus as part of a broader research and development (R&D) initiative. This development forms part of First Solar’s $370 million Jim Nolan Center for Solar Innovation — a 1.3 million square foot R&D hub focused on next-generation thin film and tandem solar modules.
As of March 2025, FSLR continued with its ongoing research into perovskite crystals as part of its efforts in thin-film technology, with a focus on improving the efficiency and stability of this technology to ultimately develop a commercially scalable perovskite product.
Another Stock Warranting a Look
Perovskite solar cells have shown remarkable progress in recent years, with rapid efficiency improvements, from 3% in 2009 to over 26% as of 2024, in small-area devices (according to a report by the U.S. Department of Energy). However, the perovskite-based solar panel is still in a nascent stage. R&D is ongoing for scalability and not many publicly traded companies are currently investing in it.
First Solar apart, JinkoSolar (JKS - Free Report) is also investing in perovskite to reap the benefits of this thin-film technology.
In January 2025, JinkoSolar announced that it has achieved a significant breakthrough in the development of its N-type TOPCon-based perovskite tandem solar cell, which achieved an impressive conversion efficiency of 33.84%. This highlighted the compatibility of TOPCon as a mainstream solar cell technology with the next-generation perovskite/silicon tandem cell technology, paving the way for new possibilities in the development of the photovoltaic industry.
A Solar Panel Manufacturer With Great Potential
Although solar module manufacturer Canadian Solar (CSIQ - Free Report) currently does not invest in perovskite technology, it is actively enhancing its module efficiency through advancements in TOPCon (Tunnel Oxide Passivated Contact) cell technology and other innovations. Notably, in May 2025, CSIQ presented a new TOPCon solar module series with power conversion efficiency spanning from 23.3% to 24.4%. As Canadian Solar strives to improve the efficiency of its solar modules, it might explore and research perovskite-based solutions in the near future.
The Zacks Rundown for FSLR
Shares of FSLR have gained 36.6% in the past three months compared with the industry’s 35.5% growth.
Image Source: Zacks Investment Research
The company’s shares are trading at a discount on a relative basis, with its forward 12-month Price/Earnings being 9.57X compared with its industry’s average of 17.02X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for FSLR’s near-term earnings has moved south over the past 60 days, except for 2026.
Image: Bigstock
Is Perovskite the Future of Solar Panels? Here's First Solar's Take
Key Takeaways
Recently, perovskite solar cells have emerged as a promising alternative to traditional silicon panels, offering potentially higher efficiency and lower production costs. With the increased demand for thin-film photovoltaics (PV), First Solar Inc. (FSLR - Free Report) has also been investing in perovskite technology, which is used to build thin-film solar panels.
Notably, in 2023, FSLR acquired Swedish perovskite specialist Evolar AB in a bid to develop and commercially scale high-efficiency thin-film PV technology.
Moreover, in July 2024, the company revealed that it is establishing a perovskite development line at its Perrysburg, OH, campus as part of a broader research and development (R&D) initiative. This development forms part of First Solar’s $370 million Jim Nolan Center for Solar Innovation — a 1.3 million square foot R&D hub focused on next-generation thin film and tandem solar modules.
As of March 2025, FSLR continued with its ongoing research into perovskite crystals as part of its efforts in thin-film technology, with a focus on improving the efficiency and stability of this technology to ultimately develop a commercially scalable perovskite product.
Another Stock Warranting a Look
Perovskite solar cells have shown remarkable progress in recent years, with rapid efficiency improvements, from 3% in 2009 to over 26% as of 2024, in small-area devices (according to a report by the U.S. Department of Energy). However, the perovskite-based solar panel is still in a nascent stage. R&D is ongoing for scalability and not many publicly traded companies are currently investing in it.
First Solar apart, JinkoSolar (JKS - Free Report) is also investing in perovskite to reap the benefits of this thin-film technology.
In January 2025, JinkoSolar announced that it has achieved a significant breakthrough in the development of its N-type TOPCon-based perovskite tandem solar cell, which achieved an impressive conversion efficiency of 33.84%. This highlighted the compatibility of TOPCon as a mainstream solar cell technology with the next-generation perovskite/silicon tandem cell technology, paving the way for new possibilities in the development of the photovoltaic industry.
A Solar Panel Manufacturer With Great Potential
Although solar module manufacturer Canadian Solar (CSIQ - Free Report) currently does not invest in perovskite technology, it is actively enhancing its module efficiency through advancements in TOPCon (Tunnel Oxide Passivated Contact) cell technology and other innovations. Notably, in May 2025, CSIQ presented a new TOPCon solar module series with power conversion efficiency spanning from 23.3% to 24.4%. As Canadian Solar strives to improve the efficiency of its solar modules, it might explore and research perovskite-based solutions in the near future.
The Zacks Rundown for FSLR
Shares of FSLR have gained 36.6% in the past three months compared with the industry’s 35.5% growth.
Image Source: Zacks Investment Research
The company’s shares are trading at a discount on a relative basis, with its forward 12-month Price/Earnings being 9.57X compared with its industry’s average of 17.02X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for FSLR’s near-term earnings has moved south over the past 60 days, except for 2026.
Image Source: Zacks Investment Research
FSLR stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.