Exhibit 99.1

News Release

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 First Quarter Financial Results

Tempe, Ariz. — ­ April 29, 2009 — First Solar, Inc. (Nasdaq: FSLR) today announced its financial results for the first quarter ended March 28, 2009. Quarterly revenues were $418.2 million, down from $433.7 million in the fourth quarter of fiscal 2008 and up from $196.9 million in the first quarter of fiscal 2008.

Net income for the first quarter of fiscal 2009 was $164.6 million or $1.99 per share on a fully diluted basis, up from $132.8 million or $1.61 per share on a fully diluted basis for the fourth quarter of fiscal 2008 and up from $46.6 million or $0.57 per share on a fully diluted basis for the first quarter of fiscal 2008.

First Solar will discuss these results and expected results 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 http://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 Friday, May 1, 2009 at 11:59 p.m. EDT and can be accessed by dialing 888-286-8010 if you are calling from within the United States or 617-801-6888 if you are calling from outside the United States and entering access code 93319217. 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.

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
	March 28, 2009			March 29, 2008
Net sales	$	418,208		$	196,915
Cost of sales		182,924			92,591
Gross profit		235,284			104,324
Operating expenses:
Research and development		11,704			4,760
Selling, general and administrative		49,315			28,671
Production start-up		6,209			12,761
Total operating expenses		67,228			46,192
Operating income		168,056			58,132
Foreign currency gain		1,834			774
Interest income		2,103			6,685
Interest expense, net		(935	)		(4	)
Other expense, net		(1,326	)		(378	)
Income before income taxes		169,732			65,209
Income tax expense		5,137			18,590
Net income	$	164,595		$	46,619
Net income per share:
Basic	$	2.01		$	0.59
Diluted	$	1.99		$	0.57
Weighted-average number of shares used in per share calculations:
Basic		81,685			79,059
Diluted		82,612			81,607

FIRST SOLAR, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)

 (Unaudited)

	March 28, 2009			December 27, 2008
ASSETS
Current assets:
Cash and cash equivalents	$	624,932		$	716,218
Marketable securities — current		172,176			76,042
Accounts receivable, net		184,790			61,703
Inventories		131,468			121,554
Deferred project costs		12,259			710
Economic development funding receivable		—			668
Deferred tax asset, net — current		11,658			9,922
Prepaid expenses and other current assets		102,421			90,584
Total current assets		1,239,704			1,077,401
Property, plant and equipment, net		867,660			842,622
Deferred tax asset, net — noncurrent		61,987			61,325
Marketable securities — noncurrent		14,460			29,559
Restricted cash and investments		30,148			30,059
Investment in related party		25,000			25,000
Goodwill		33,829			33,829
Other assets — noncurrent		15,644			14,707
Total assets	$	2,288,432		$	2,114,502
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	41,853		$	46,251
Income tax payable		102,242			99,938
Accrued expenses		86,250			140,899
Current portion of long-term debt		32,952			34,951
Other current liabilities		52,542			59,738
Total current liabilities		315,839			381,777
Accrued collection and recycling liabilities		45,366			35,238
Long-term debt		195,216			163,519
Other liabilities — noncurrent		26,339			20,926
Total liabilities		582,760			601,460
Stockholders’ equity:
Common stock, $0.001 par value per share; 500,000,000 shares authorized; 81,844,290 and 81,596,810 shares issued and outstanding at March 28, 2009 and December 27, 2008, respectively		82			82
Additional paid-in capital		1,194,324			1,176,156
Accumulated earnings		525,820			361,225
Accumulated other comprehensive  loss		(14,554	)		(24,421	)
Total stockholders’ equity		1,705,672			1,513,042
Total liabilities and stockholders’ equity	$	2,288,432		$	2,114,502