First Solar manufactures solar panels using cadmium telluride thin-film technology instead of the crystalline silicon that dominates the industry. The difference matters: its process is less energy-intensive, avoids Chinese polysilicon supply chains, and performs well in hot climates. Utility-scale power plants are the core market, and American factories position the company as the flagship domestic solar manufacturer, a status reinforced by industrial policy favoring US-made equipment. Multi-year order backlogs give unusual revenue visibility for a solar company.