A loss for First Solar

First Solar, one of the premier solar power companies has taken a few hits lately. One of their most recent issues has led to the stopping of one of their projects in Colorado, United States. In Colorado, First Solar was to build a 150 Mega-watt solar facility in the high desert of the San Luis Valley. This project however, has been stopped before it could make any kind of impact. Due to concerns about completing solar facilities that are of a higher priority, First Solar is switching their focus. The company would rather work on creating power in the near future as opposed to looking at a longer term strategy. Therefore, the 2,100 acre site in Colorado will not be built.

This is not the first blow to First Solar; recently they submitted a bid that was rejected around the Barstow area of California. These failures will result in 2.5 Giga-watts that will not make it into the California grid, a fair share of power. As a result of these missed opportunities and rejected bids, the price of First Solar has remained in flux. After the Colorado pull-out, the price of First Solar stock (FSLR.O) dropped a percentage point.

First Solar is having to battle against an electricity market that has been relying on brown energy sources for centuries, making it hard for renewable energy to truly make an impact. With only around 3% of the entire U.S. grid powered by renewable energy, there is a long way to go in creating a more sustainable future. With the way politics control and regulate the energy markets though, this low percentage may have a hard time becoming respectable.