Solar panels capture the sun's energy.
Solar energy can trace its roots back to the 1830s when a British astronomer first used a thermal collector box to collect heat through sunlight and cook food while visiting Africa. Solar energy is converted to electricity in one of two ways: photovoltaic devices, also known as photocells, and concentrating solar power plants. Several publicly owned companies in the United States have established themselves in the solar market.
First Solar
First Solar claims to be one of the fastest growing solar energy companies in the world, crediting a clear vision of low-cost, renewable energy as key to its success. The company is a major manufacturer of thin film solar modules. First Solar was organized in 1999 and began commercial manufacture of product three years later. The company is committed to conserving energy and in 2008, broke the $1-per-watt barrier to reach the lowest manufacturing cost per watt in the industry. It launched its initial public offering in November 2006 and is traded on the NASDAQ Stock Market under the symbol FSLR.
GT Solar International
During its 15 years in the sector, GT Solar International has grown to become a worldwide leader in polysilicon reactors and converters and multi-crystalline furnaces. It has remained focused on technologies related to manufacture of solar cells and panels and essential technologies for the production of solar cells and panels. The company continues to thrive, broadening its scope to all areas of the photovoltaic manufacturing chain. It became a public company in 2009 and is known on the NASDAQ as SOLR. Based in New Hampshire, the company reached record levels of revenue in 2009 at $541 million.
Spire Corporation
Spire Corporation was incorporated in 1969 and claims to have been in the solar business longer than any other company. Revenues between 2005 and 2009 have averaged between $20.1 and $69.8 million. It is traded on the NASDAQ as SPIR. As a global company, Spire Corporation has concentrated on developing turnkey production lines and necessary equipment for the manufacture of photovoltaic molecules and cells around the world. The company's processing technology is targeted at Spire's silicon solar cell manufacturing. It also produces and sells other necessary components of solar concentrator systems. The company's headquarters are in Massachusetts.
Evergreen Solar
Identified on the NASDAQ as ESLR, Evergreen Solar is a developer, manufacturer and distributor of solar power products, built on its early success with proprietary low-cost wafer technology. The company got its start in 1994, but began its current manufacturing focus in 2007. Average revenues run around $271.85 million. In recent years, it has reduced its operational costs to $2.05 per watt, with much lower energy costs in certain operational segments. However, despite strong manufacturing performance and product demand, the company experienced disappointing financial results in 2009 because of an unexpected, accelerated drop in solar panel price.
Tags: First Solar, Spire Corporation, cells panels, Evergreen Solar, solar cells