First Solar, a thin film solar panel manufacturers, has achieved a first for any pure-play renewable energy company: inclusion on the venerable Standard & Poor’s Index of 500 commonly traded stocks.

Tempe, Arizona-based First Solar was added to the S&P 500 after the market closed October 15. The company will be part of the S&P 500 GICS (Global Industry Classification Standard) Electrical Components & Equipment Sub-Industry of the Industrials sector.

The addition of First Solar, which had $1.2 billion in sales last year, is a milestone not only for the company, but for renewable energy in general. Although non-hydroelectric renewables, including solar, wind and biomass, make up a minute fraction of overall energy generation worldwide, that percentage is expected to grow rapidly in the coming decades.

Source: Triple Pundit