News Release Exhibit 99.1

Contacts:
First Solar, Inc.
Jens Meyerhoff	Larry Polizzotto
Chief Financial Officer	Vice President, Investor Relations
(602) 414 - 9315	(602) 414 - 9315
investor@firstsolar.com	lpolizzotto@firstsolar.com

First Solar, Inc. Announces 2009 Second Quarter Financial Results

Tempe, Ariz. — ­ July 30, 2009 — First Solar, Inc. (Nasdaq: FSLR) today announced its financial results for the second quarter ended June 27, 2009. Quarterly revenues were $525.9 million, up from $418.2 million in the first quarter of fiscal 2009 and up from $267.0 million in the second quarter of fiscal 2008. Revenues for the first six months of fiscal 2009 were $944.1 million compared to $464.0 million for the first six months of fiscal 2008.

Net income for the second quarter of fiscal 2009 was $180.6 million or $2.11 per share on a fully diluted basis, up from $164.6 million or $1.99 per share on a fully diluted basis for the first quarter of fiscal 2009 and up from $69.7 million or $0.85 per share on a fully diluted basis for the second quarter of fiscal 2008.

First Solar will discuss these results and outlook for fiscal 2009 in a conference call scheduled for today at 1:30 p.m. MST (4:30 p.m. EDT). Investors may access a live audio webcast of this conference call in the Investors section of the Company’s web site at www.firstsolar.com. An audio replay of the conference call will also be available approximately two hours after the conclusion of the call. The audio replay will remain available until Tuesday, August 4, 2009 at 11:59 p.m. EDT and can be accessed by dialing 888-203-1112 if you are calling from within the United States or 719-457-0820 if you are calling from outside the United States and entering access code 6443641. A replay of the webcast will be available on the Investor section on the Company’s Web site approximately two hours after the conclusion of the call and will remain available for 90 calendar days. If you are a subscriber of FactSet and Thomson One, you can obtain a written transcript within 2 hours.

About First Solar, Inc.

First Solar, Inc. (Nasdaq: FSLR) is changing the way the world is powered by creating truly sustainable solar energy solutions. First Solar manufactures solar modules with an advanced semiconductor technology and provides comprehensive PV system solutions. By constantly decreasing manufacturing costs, First Solar is creating an affordable and environmentally responsible alternative to fossil-fuel generation. First Solar modules are most effective when demand for traditional forms of energy is at its peak. First Solar set the benchmark for environmentally responsible product life cycle management by introducing the industry's first comprehensive, pre-funded collection and recycling program for solar modules. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating cost-effective renewable energy solutions that protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com, or www.firstsolar.com/media to download photos.

For First Solar Investors:

This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.

FIRST SOLAR, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

 (Unaudited)

	Three Months Ended						Six Months Ended
	June 27, 2009			June 28, 2008			June 27, 2009			June 28, 2008
Net sales	$	525,876		$	267,041		$	944,084		$	463,956
Cost of sales		227,780			122,341			410,704			214,932
Gross profit		298,096			144,700			533,380			249,024
Operating expenses:
Research and development		18,605			7,725			30,309			12,485
Selling, general and administrative		72,926			43,626			122,241			72,297
Production start-up		2,524			4,622			8,733			17,383
Total operating expenses		94,055			55,973			161,283			102,165
Operating income		204,041			88,727			372,097			146,859
Foreign currency gain		239			647			2,073			1,421
Interest income		1,948			4,923			4,051			11,608
Interest expense, net		(3,827	)		—			(4,762	)		(4	)
Other expense, net		(1,103	)		(441	)		(2,429	)		(819	)
Income before income taxes		201,298			93,856			371,030			159,065
Income tax expense		20,719			24,185			25,856			42,775
Net income	$	180,579		$	69,671		$	345,174		$	116,290
Net income per share:
Basic	$	2.16		$	0.87		$	4.17		$	1.46
Diluted	$	2.11		$	0.85		$	4.10		$	1.42
Weighted-average number of shares used in per share calculations:
Basic		83,723			79,877			82,704			79,468
Diluted		85,668			82,004			84,140			81,806

FIRST SOLAR, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)

 (Unaudited)

	June 27, 2009			December 27, 2008
ASSETS
Current assets:
Cash and cash equivalents	$	429,160		$	716,218
Marketable securities — current		160,714			76,042
Restricted cash and investments  — current		48,970			—
Accounts receivable, net		351,266			61,703
Inventories — current		162,501			121,554
Economic development funding receivable		—			668
Deferred tax asset, net — current		14,880			9,922
Prepaid expenses and other current assets		76,996			91,294
Total current assets		1,244,487			1,077,401
Property, plant and equipment, net		911,869			842,622
Project assets — noncurrent		113,680			—
Deferred tax asset, net — noncurrent		102,673			61,325
Marketable securities — noncurrent		138,239			29,559
Restricted cash and investments — noncurrent		33,695			30,059
Investment in related party		25,000			25,000
Goodwill		294,962			33,829
Inventories — noncurrent		6,273			—
Other assets — noncurrent		39,301			14,707
Total assets	$	2,910,179		$	2,114,502
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	55,631		$	46,251
Income tax payable		57,336			99,938
Accrued expenses		106,335			140,899
Current portion of long-term debt		76,639			34,951
Other liabilities — current		70,187			59,738
Total current liabilities		366,128			381,777
Accrued collection and recycling liabilities		60,880			35,238
Long-term debt		156,935			163,519
Other liabilities — noncurrent		41,345			20,926
Total liabilities		625,288			601,460
Stockholders’ equity:
Common stock, $0.001 par value per share; 500,000,000 shares authorized; 84,633,454 and 81,596,810 shares issued and outstanding at June 27, 2009 and December 27, 2008, respectively		85			82
Additional paid-in capital		1,576,132			1,176,156
Contingent consideration		47,394			—
Accumulated earnings		706,399			361,225
Accumulated other comprehensive loss		(45,119	)		(24,421	)
Total stockholders’ equity		2,284,891			1,513,042
Total liabilities and stockholders’ equity	$	2,910,179		$	2,114,502