In 2013 First Solar acquired GE’s technology after GE canceled plans for a $300 million plant in Colorado. Last year, First Solar beat the conversion efficiency mark for cadmium telluride (Cdte) with a world-record 21.5%, beating the 2014 record of 20.4%efficiency ; the company predicted it would exceed 22% in 2015. The new solar cell technology is expected to be available by mid-2016 and will cost about $0.05/watt installed at that time. Raffi Garabedian, First Solar's CTO, notes, "We've improved the efficiency and energy density of our mass-produced commercial PV modules at a rate at least three times faster than our multi-crystalline Si competitors. We fully expect to further separate ourselves from the pack in coming years."
Last year, First Solar beat the conversion efficiency mark for cadmium telluride (Cdte) with a world-record 21.5%, beating the 2014 record of 20.4%efficiency ; the company predicted it would exceed 22% in 2015. The new solar cell technology is expected to be available by mid-2016 and will cost about $0.05/watt installed at that time. Raffi Garabedian, First Solar's CTO, notes, "We've improved the efficiency and energy density of our mass-produced commercial PV modules at a rate at least three times faster than our multi-crystalline Si competitors. We fully expect to further separate ourselves from the pack in coming years."