First Solar's (Nasdaq:FSLR) Expansion Should Double Capacity

The demand for solar panels has First Solar (Nasdaq:FSLR) entering into an expansion phase, with new plants planned for in the U.S. and Vietnam.

First Solar spokesman Alan Bernheimer said, "We are sold out. Basically demand exceeds our manufacturing capacity to supply."

This and other recent expansions will basically double the production capacity of the company.

In 2012 First Solar should be able to produce over 2.7 gigawatts.

Each new plant should eventually employ about 600 workers each.

With their highest demand in Asia and the U.S., First Solar wants to build the facilities close to their top markets. Vietnam is a target because of their solar resources, surpassing China and India as the desired location.

It is thought the U.S. plant will be located in the American southwest, as that's where their largest domestic markets are located.