May 20, 2026
Shares of solar panel manufacturer First Solar (NASDAQ:FSLR) jumped 6.1% in the afternoon session after the company announced a partnership with GameChange Solar to support the deployment of its domestically manufactured thin-film solar modules in India. 
The collaboration is aimed at accelerating growth in India’s utility-scale solar market, helping developers comply with the country’s domestic sourcing laws. This partnership builds on two previous projects where First Solar’s modules were successfully deployed on GameChange Solar’s tracker systems, operating with nearly 99.8% uptime for over a year. Given India’s evolving regulations and a limited pool of compliant suppliers, First Solar’s established manufacturing presence in the country is expected to reduce supply chain risks for developers, positioning the company for further growth.
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First Solar’s shares are extremely volatile and have had 30 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 11 months ago when the stock dropped 20.3% on the news that a U.S. Senate panel proposed phasing out solar and wind energy tax credits by 2028, raising concerns about future profitability and project viability for solar companies. 
The phasing out is expected to begin as early as 2026, diminishing the financial incentives that have been critical drivers of growth in the renewable energy sector.
First Solar is down 14.4% since the beginning of the year, and at $234.83 per share, it is trading 17.5% below its 52-week high of $284.59 from December 2025. Despite the year-to-date decline, investors who bought $1,000 worth of First Solar’s shares 5 years ago would now be looking at an investment worth $3,064.
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