Solar technology company First Solar Inc. estimates its projected 14 gigawatts (GW) of operational nameplate capacity in the U.S. by 2026 will have significant direct, indirect and induced economic effects.

The company’s conclusion comes from the results of a study First Solar commissioned by the Kathleen Babineaux Blanco Public Policy Center at the University of Louisiana at Lafayette to analyze the economic impact of the solar manufacturer’s vertically-integrated value chain, the company said in a Feb. 26 press release.

First Solar expects to add $4.99 billion in value and $10.18 billion in output to the U.S. economy in 2026. In 2023, at over 6 GW of annual nameplate capacity, the company added $2.75 billion in value and $5.32 billion in output to the economy, according to the study.

The company also expects to directly employ 4,100 people and support an estimated 30,060 direct, indirect and induced jobs across the U.S. by 2026. In 2023, the company supported an estimated 16,245 jobs.

First Solar is also expanding in Alabama and Louisiana with over $2 billion in investments in manufacturing facilities, expected to come online in 2024 and 2026, respectively. In 2023, its construction activity added over $900 million in economic value, according to the study. 

First Solar’s fully vertically integrated solar manufacturing facilities produce thin film photovoltaic solar panels—converting a glass sheet into a functional solar panel in four hours, according to the press release.