First Solar Picks South Carolina For Big New Plant And Hundreds Of Jobs

First Solar, Inc. (NASDAQ:FSLR) is expanding its U.S. manufacturing footprint with a new production facility planned for Gaffney, South Carolina — a move aimed at strengthening domestic solar manufacturing and supporting the nation's clean-energy infrastructure goals.

The company will invest about $330 million in the plant, which is slated to begin operations in the second half of 2026. The project is expected to create roughly 600 jobs with an average salary of $74,000, offering a significant economic boost to Cherokee County.

The expansion was shaped in part by incentives in the One Big Beautiful Bill Act, which promotes U.S.-made energy technology and tighter oversight of foreign-linked supply chains.

Also Read: Elon Musk Touts Solar As ‘Biggest Source of Power’ As AI Industry Scrambles For Energy Solutions

The Gaffney facility will finalize thin-film solar modules using cells produced at First Solar's overseas sites, ensuring the finished products meet U.S. compliance and sourcing requirements.

South Carolina Gov. Henry McMaster welcomed the announcement, saying the investment strengthens both the local economy and national energy security. The company already maintains logistics operations in the state and operates manufacturing and research centers across Ohio, Alabama, Louisiana, and California.

Company Outlook and Expansion Strategy

First Solar expects the new facility to help lift its U.S. production capacity to nearly 18 gigawatts by 2027. Chief Executive Mark Widmar said the investment positions the company to meet customer demand while staying ahead of evolving trade policies.

Recently, the company posted revenue of $1.6 billion, surpassing estimates, while earnings of $4.24 per share came in slightly below expectations. Management narrowed its full-year 2025 EPS forecast to $14.00–$15.00 and refined its revenue outlook to $4.95 billion–$5.20 billion.

The quarter featured record shipments of 5.3 GW and 2.7 GW of new bookings. At the end of September, the company held a 53.7 GW backlog valued at $16.4 billion, supported by $1.5 billion in cash.

Overall, First Solar's latest expansion underscores its commitment to domestic manufacturing strength even as it navigates near-term operational challenges and shifting policy landscapes.

Price Action: FSLR shares were trading lower by 0.14% to $256.23 at last check Friday.

Read Next:

• Rio Tinto Signs Long-Term Wind Deal In A Push To Cut Emissions

Photo via Shutterstock