First Solar (Nasdaq: FSLR) announced this week it has set a new world record for cadmium-telluride photovoltaic solar cell conversion efficiency. According to the company, its cell reached 18.7 percent cell efficiency in tests confirmed by the U.S. Department of Energy’s National Renewable Energy Laboratory.

The cell was constructed at the company’s Perrysburg, Ohio factory and research and development center using processes and materials, including the glass substrate, designed for commercial-scale manufacturing.

First Solar Chief Technology Officer Raffi Garabedian said the technologies and processes the company developed for the record-setting cell will “further enhance the performance of our future production modules and power plants.”

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