What Are The Key Drivers Of First Solar's Revenue?
Key Driver 1: Solar ModulesModules revenues declined from about $700 million in 2016 to about $500 million in 2018, as the company scaled-down on its legacy Series 4 module production. We expect the metric to rise over 2019 and 2020 as production of the next-gen Series 6 modules ramps up.
Solar Module Revenue
Key Driver 2: SystemsSystems revenues declined over the last 2 years, due to tougher pricing conditions and a lower number of projects. We expect systems revenues to recover to about $2.5 billion by 2020.