First Solar's Awesome Growth Story For 2009

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While most analysts have been pretty gloomy on First Solar (FSLR), iSuppli is pumped up, saying First Solar’s market share is set to soar for 2009.

First Solar’s panel production should more than double from 503 MW in 2008 to 1.1 GW this year. The majority of the new panels will actually be installed, as opposed to just sitting in inventory like many of its rivals, says iSuppli (via PV Tech).

First Solar will take over as the world’s largest panel producer, displacing Q-Cells and Sharp. In 2008, it had 7.5% of the market share. In 2009 it will be 13%. Further, First Solar’s installed panels will account for 28% of all the panels installed in the world in 2009.

Will this be enough to shut up the analysts that say short First Solar? Probably not, but it should make life easier for its new CEO as he steers the company through choppy waters.

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