TEMPE, Ariz., and PERRYSBURG, Ohio — First Solar Inc. announced that it has set a new world record for cadmium-telluride (CdTe) photovoltaic (PV) solar cell conversion efficiency, achieving 18.7 percent cell efficiency in tests confirmed by the U.S. Department of Energy’s (DOE’s) National Renewable Energy Laboratory (NREL). The record-setting cell was constructed at the company’s Perrysburg, Ohio, factory and R&D center using processes and materials — including the glass substrate — that are designed for commercial-scale manufacturing.

“This achievement showcases the huge potential of CdTe compared to other PV technologies and highlights the performance gains we continue to achieve thanks to our consistent and strong investment in R&D,” said Raffi Garabedian, First Solar’s chief technology officer. “We are confident the advanced technologies and processes we developed for this record-setting cell will further enhance the performance of our future production modules and power plants.”

First Solar said it has continued to transfer its success in the R&D lab into its commercial modules, increasing its average production module efficiency to 12.9 percent in the fourth quarter of 2012, up 0.7 percentage points from 12.2 percent in the fourth quarter of 2011. The company’s lead line was producing modules with 13.1 percent efficiency during the fourth quarter, up from 12.6 percent in the same period the year before.