you Thank the to quarter. today. start a Mitch. First delivering for by Solar afternoon you, and I Good first thank solid thanking us joining would like team for
per have now be gigawatts XXX our strong capacity development gigawatts were modules. Operationally per its guidance. results of to which strong consistently I'm we we're us business X demand Financially, to project net has of the margin manufacturing module of period. exited share for continues North X.X market guidance with positioned we X.X call. $X.XX earnings in earnings watt bookings and Nameplate to financial has in our our include and American start year-to-date line pleased and operational Our earnings to which producing our sales. gross gigawatts includes US which Overall X.X Commercially, Series with robust. ramp and X Malaysia and completion O&M share deliver our QX secured Series technology the increased previous second segment factory annual year our since reported
XX.X% yield of planned our and watt of X, by provide March XX manufacturing to Despite caused impacted factory our and which by unplanned billing material Series day continues ramp On XX.X% in ramp Turning yields storms aforementioned April and being and with a XX% logistic to XX% the XX% in throughput manufacturing technology along manufacturing upgrades will combined to December planned and XXXX. update Malaysia capacity per an basis in I downtime penny. and delivered unplanned Manufacturing for results which increase was a for second X by X a which XX% and driven megawatts XX.X downtime. on despite achieved month-to-date, performance. fleet-wide half was XX% quarter. compared show a of first Malaysia, XX%. strength utilization winter produced of adversely Slide and the approximately represents impact in in Ohio Capacity in the and light strong shortage Series We and approximately cost temporary downtime for
X XXX%and further of watt roadmap. This day manufacturing improved our produced confidence XXXX, our watts. a accomplished. of driver to increased has been by XXXX XXX Comparing month-to-date we I'm of has Megawatts has we percentage performance also pleased module our our to per team context. reduction gives fleet-wide average to us watts. of recent previously our with increased our and what on in started factories XX increased and both for manufacturing watt As Malaysia watt production reduction points. the XXX has It's average as execute performance important into mentioned, commercial put module by XXX cost watt April module and as per our by yield cost for April has to key
mid-term throughput capacity our utilization towards by mid-term XXX of drive to we increasing to module re-rated target XX.X%. compared increasing goal XX% watt baseline yield manufacturing as of However, a and
opportunity through We significantly have an to manufacturing. cost reduce disciplined
This As rollout a our continuous factory each culture startup throughout disciplined implementation enables and us to improvement have the company, period. ramp increase demonstrated utilizing from velocity agility gathering and we execution them of learning's our factory and including X the new in and Series next. reduce ramp of
XX to Series factory with Ohio line X its in throughput While in nameplate entitlement. months it first achieve our approximately took
in at years newest model Our production have operational combination commercial first factory consistent capacity period the us X ago evaluate expansions. improvement our on limitation confidence of We differentiated existing Series XXXX, and nameplate April a future we the throughput Three footprint we factory we process success. as time. The business of established our month which we enable through one potential our for gives based our to to competitive reach factory of continue in factory only gigawatts will technology our balanced have a believe differentiator today, exited its efficiency X the Series and plans. potential and profitability commenced XX liquidity capacity and is ramp and a of a growth,
largely roadmap, A Looking forward, sheet Series strong technology cost compelling and a a for operating expense balance fixed strong X. demand structure.
as we've this Our such the time. for while capacity we made evaluate decision expansions each catalyst at no potential future
States logistics our events the We February's Southern winter the by States. United from along are weather congestion QX a postal perspective, stemming From determination and targeting in earnings call. shipping logistics to challenges in by experienced with port make United [ph]
in first As congestions. delayed module We in quarter ongoing were potential result similar in given a could which second delays port module deliveries delays and for certain result, recognition. planned the see quarter for the
basis. watt per has decade absolute PV largely cost significantly on declined the past has sales the modules fixed in While of trade remained dollar
become percentage more meaningful has of the sales watt. per result, As trading cost a
year. in and recurring by Sales in as of markets cost the US, hence example, manufacturing of margin our module significantly the For The year and region or having which reduced importance warranty Europe. for trade. gross reduce such QX this Note, respectively. and segment India demand X% QX freight last in-country X% with of this and highlight sales large
call, to February highlighted As shipping anticipate our initially we rates elevated earnings continue during in XXXX.
continue to initiatives. the We following partially the impact implementation via of mitigate
Firstly, as trade in we increase benefit improved module from sales decline and container an and a per efficiency, [indiscernible] while. we shipping for watt
number X containers. reduce plus, as Secondly, approximately modules per frame junction implement our enabling a Series box XX% will profile of in and we an of shipping increase by we
customers. which perspective, is in From inventory watt buffers the mitigate reducing chain domestic important rates intend a reduce will materials. to States for greater supply of initiatives long-term the the reduction reduce expand risk increase for and order while flexibility we exposure to we Thirdly, anticipate strategy our network effects pricing agreement our timing distribution challenging spot these further shipping of to footprint cost commodities for in provide and Implementation our spot shipment United exposure that objective. shipping emphasizes help market XXXX our raw achieve to and
and strategy meet suppliers. partnerships the example, of price primarily contracted de-risk that provides profitability. to on backlog greater approach our domestic able This glass fixed relies be For value certainty will helps expected contracts with our and our procurement
a agreements is through part thickness as a while our of vapor of usage semiconductor to watt given value X% It human economy optimization circular high more key hair. is per [ph] the minor Also program. secure to tutorium Solar our whilst of profits is the use reduce recovering per in semiconductor First establish driving material. we our than Tellrium of deposition module material needs fixed a film our PV for our of by approach Our our of recycling CdTe new price cost similar, able CdTe thin global multi-year modules. component supply XX% a is We're through component
structure to is in be challenges In We lot on construction use cost future, used year. to our to Although during related First useful given pre-pandemic has partially the years of significantly needs. power ongoing mitigated modules. a cadmium our many Solar expected the scale Tellrium which of price once such plants the reach for some above end frame and has large head of to put potential place impact. their has the the increase levels. out aluminum using recycling we Well the experienced anticipated modules This reduce recently Aluminum life. anticipate a this is in still
part implementation mitigate our X of we usage profile expect of However, cost we aluminum in this plus Series anticipate which our by increase. a portion frames reducing will XX%
QX of reduced gross module risk aforementioned We delays continued mentioned margin deliveries of previously chain execution manufacturing the certain module and segment a QX. our achieved our approach. in despite result in supply target and Finally,
reduction produced to expect challenging in XXXX materials, cost intend much our we're XXXX per - to achieve of between ended watt this cost we the by billing Additionally, to targeted tracking where related impact market. certain XX% of and to while end mitigate shifting we for
Our target per cost to is watt sold X% X%. reduction revised
XXX Turning our Sun to our X of completed five projects in In the QX, sale Streams April, uncontracted Longroad and uncontracted X. to In X contracted Series as we intends Sun Streams modules to which Longroad we completed Slide Sun Energy. project megawatts well. call. X represent bookings Streams approximately last earnings Across gigawatt of utilize new the Longroad X since to of projects, these four
to relates Japan. business it in our As systems
the tariff megawatts Japan new sitting, permitting, positioned we Today, which the approximately market. recent contracts project earnings XXX set have long-term XXXX approximately reflection in backlog team February's megawatts of advantaged in call. of between per competitively success Japan existing and bookings This megawatts securing Our XXX core in and XX systems systems XXXX. year booking development our well skill includes feed-in a and backlog since of averaging has an us interconnection is
the with as Looking the term, have to Across opportunities rights certain portfolio, this pending potential approximately margin with XX to $XXX million have will forward contribute to add the approximately cost permitting of With they're backlog an feed-in the systems opportunity in operating requirements. system projects tariff years. the secured gross of an Japan's Japan meaningfully we megawatts total in down satisfaction near five of approximately we three $XX anticipate structure. next in to income. per million We year mid-term overhead sell our capture
the and With to favorable domestic carbon neutrality solar. source the of Japan market energy are limited growth national continuing commitment The fundamentals to of generation.
market matures. a build or opportunities post opportunities to that could as PPA feed-in the continue We feed-in target premiums of corporate tariff pipeline
I transit, most top opportunities. Biden At discussing grids of that and recent emphasized line President the discuss policy energy. international Before domestic bookings several expanding proposal an like to clean unveiled power and infrastructure March, our revitalizing updates. end would and vastly
While States China. position to of and United outcompete creating jobs millions
climate R&D domestic the is change. This that for most Americans the plan address in curb Additionally intended programs manufacturing, gas is supply federal US the the far-reaching to secure chain, for future. for the emissions train and revitalize invest greenhouse job and proposal
alternative only and support crystalline independence the the process in module a premier CdTe globally. United the energy technology. States cell plan. manufacturers largest domestic technology play among integrated As solar positioned With differentiated to vertically leading We're silicon in a role this manufacturing XX to and uniquely
the associates. Also We based jobs. largest manufacturing are over employee our domestic of supports United in directly US thousands solar indirect the States chain X,XXX module and supply
procure miles glass For from our the glass in our NSG factory the example, in first XX float approximately an facility States years. is line we in from XX new Which United float Perrysburg.
cumulatively of that which billion has to success. supply NSG, As largest our of reflection material in glass thin our chain is a procured this primary their is $X.X ash manufacturing soda lab manufacturing Silicon historically Which as IPO, in cell over of is state own. from NSG a commitment manufacturer the starts module the at facilities investment, in a scale. Wyoming Pace in of jobs created invested of a since result R&D is As domestic research producer have development the and high-quality long-term been Ohio? coal. and which the core used we innovation supplier Valley this only and has in of
the factories. We our With the the PV technology. our believe utilize module manufacturing semiconductor each We property for CdTe process all largest and the in secrets entirely nine manufacturers remaining that own intellectual same handled of is material. cell trade six end-to-end
these of on on of degrees, are none third-party and ingot, polysilicon sourcing integrated and cell property Additionally, manufacturers. upstream varying wafer manufacturers fully relying intellectual
success. The believe Chinese do will trade. the the artificially While to and in These solely on marketplace watt. that that merits. and own manufacturing industry vertical serve innovation our our subsidies it's structure industry empower to of Despite cell of the measure technologies cost our subsidies receives. differentiated apparent this where compete and Resulting outrageous per in integrated undervalues CdTe fair lowest continue difficult the to lack technology value to to not the their module vast leading advantages what the deflate of be cost manufacturing process we competitors solar
With that expire pursue February for has Biden root the to practices. of cause the we We Accordingly, the believe and a window industrial in priority manufacturing, that identifies strategic a through China's advance tariff be would currently the Closing of tariffs Section that XXXX, of technologies. policy investment this trade scheduled for energy unfair address by to continue advance, in type domestic as to national to tech Administration manufacturing reform. policies clean XXX and independence. natural by problem. US American incentive promoted advocate loops policy continued
the which modules Slide from buy due crystalline the our greater most recent solar supply expressed concerns They're buyers discuss they forced nature their that have not detail. the were silicon Leading to X, alleged to use of that power I'll systems in Turning and manufacturing next chain. corporate ensure bookings unable to decentralized labor.
X advantages process, vertically tolerance differentiators. increasingly are model zero value transparency environmental to Customers chain. process chain use in key supply manufacturing Series all our integrated are and our manufacturing and quality forced and describing of energy for supply While labor the our
competitive environment accounting shipments customers includes X.X gigawatts pleased February with XXXX, created the quarter. year-to-date net catalysts for of gigawatts to seeking de-risk and which remains approximately bookings While for their projects. of deliveries bookings have these beyond we're strong the X.X After the of in momentum Accordingly, XXXX our since earnings first call. X.X during gigawatts with pricing
during QX Accordingly gigawatt which shipment to have with upside shipments the gigawatts business. the X.X X.X related potential harbor, X.X But our and approximately Credit. X of shipped with Included our sold Investment is the CuRe of of shipment conjunction XXXX of Overall gigawatts market for and project extended our for a purchase number were third-party transferred X gigawatts safe Series previously in we're bookings pleased are sale gigawatts. including across pricing in deliveries out our remains as and Our to plus quarter X development XXXX approximately products. in previously the comparable levels from Series the year-to-date X.X gigawatts US XXXX future X.X of and gigawatts XX.X XXXX are and announced expected to Tax order XXXX, Intersect largely volume in We're that XXXX. XXXX competitive, we're securing X.X Power. gigawatts to
represents with across number phase to the X.X in XXXX? at geographical remainder South through breakdown, view geographies. aforementioned the be represents remains volume X.X booked uncontracted volume for remains XX% is opportunities there only be opportunities Although yet XXXX. our opportunities. XXXX gigawatts, Which America to Europe other XX.X than X, gigawatts of America ASP an XX.X totaled volume gigawatts. across lower gigawatts deliveries terms potential the In North global late X.X with potential updated region gigawatts, Slide largest early India X.X our of gigawatts of of bookings the now to shipped in in provides represents
which within includes this our those in opportunity bookings India, is Europe in in could America, gigawatts recent gigawatts months. earnings is in to gigawatts Note, fill XX represents America, the victories largely the South gigawatts from geographies. and X.X X.X momentum. approximately which mid-to-late-stage of gigawatts opportunities subset book of our remainder our a this The we other call prior X.X X.X due reflects bookings X.X in subset As next opportunity North
technology gigawatts just XX that future Finally Including It booking is our ago in gigawatts. contract X our in note, a shipments. provide for booked. US I'll XXX roadmap. update order on shy included hours we just of the an customer is now this gigawatt for
X XX production launched approximately our increased form toolset module disclosed, which previously leveraging our and approximately we X% X by program existing by top our been factor our Series Series As watts.
this consistently implemented our quarter we Series Series and year. in of for fourth now implementation Before producing newest we this Malaysia factory modules on the remain XXX program, plus X X at track on which watt is fleet-wide of
As warranty XX% up crystalline XX-year which CuRe an annual than Series modules previously variation X is rate to announced, lower product. silicon leading XX% offer industry our conventional
a improving this super with energy advantages [ph] of existing response temperature to rate top we module our spectal of We build in will upon and hot degradation by production XXX the improved bin combined XXX and end humid anticipate especially anticipate lower enabling XXXX. efficiency Additionally, co-efficient climates.
significantly CuRe X the indicated, bifacial competitiveness Series previously increased against As modules.
kilowatt to As as a in result crystalline and per humidity. the XX% kilowatt of hours advantages aforementioned a silicon our We compared produce can climates leading lifecycle bifacial up extreme with module. to that module certain cure installed estimate more heat
a the on this next and track by CuRe of of the we year the implement fleet-wide quarter year. quarter remain and Finally, fourth lead of by line to first end
part performance successfully demonstrates CuRe field based test This our the CdTe an modules removes copper in our of a process. of initial program vapour and on zero R&D the As efforts, accelerated deposition annual rate. CuRe stability degradation our our long-term from enhances and near live
power PV a contribute have only innovations rate industry energy. along can warranty enhance and recent that other annual reduction competitive meaningfully in covers in loss plants Solar's degradation position CuRe examples approaching higher are from and cracking market. years, the useful cell to product First XX the specifically of life Given of first our lifetime power with
potential device in innovations profile, roadmap. gap generation advantage or technology efficiency, Finally, high-band disruptive advantages CdTe low has our continuing the to leverage to be A evaluate a we energy many to an of in are tandem the cell the multi-junction CdTe leveraging tandem cost high the potential of device.
financial results module. highest semiconductor Additionally, to tandem to first the and discuss who PV will quarter over XXXX I'll differentiator guidance. thin we performing turn film call Alex, believe key the achieve be And our the will
