Solar Energy
First Solar shares rebound as analysts dismiss Tesla solar competition
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Shares of First Solar rose 1% on Friday following a sharp decline, as major Wall Street firms downplayed the threat from Tesla's ambitious solar manufacturing plans. Elon Musk announced targets for 100 gigawatts of annual production, but analysts cited supply constraints and First Solar's advantages as mitigating factors. While one firm downgraded the stock, overall sentiment remained positive.
During Tesla's Q3 2025 earnings call, Vice President of Energy Engineering Michael Snyder announced the start of production for a new residential solar panel at the company's Buffalo, New York facility. Shipments to customers are set to begin in the first quarter of 2026. The announcement has sparked speculation about a potential revival of Tesla's Solar Roof program, which has faced slow growth since its 2016 unveiling.
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Tesla has started manufacturing its own residential solar panel at Gigafactory New York in Buffalo, with first deliveries set for the first quarter of 2026. The move comes amid a revival of the company's solar business, spurred by surging demand from impending policy changes. Company executives highlighted the panel's advanced aesthetics and shade performance during a recent earnings call.