First Solar (FSLR) Stock Analysis & Winston Score

First Solar makes solar panels and sells them to utility companies, power plant developers, and governments. Its main product is thin-film solar modules, which use a material called cadmium telluride instead of the silicon used by most competitors. First Solar is one of the largest solar panel manufacturers in the United States and is the only major American company making thin-film panels at commercial scale. First Solar earns money by selling its solar modules and by developing and selling large solar power projects. It operates manufacturing plants in the US, Malaysia, and Vietnam, giving it a global production footprint. Its American manufacturing base is a competitive advantage because US-made panels qualify for incentives under the Inflation Reduction Act, which has boosted demand. The key risk is that those policy incentives could be reduced or repealed, which would make First Solar's panels more expensive relative to cheaper imports from overseas competitors, particularly Chinese manufacturers.