First Solar joins the S&P 500

Solar has officially gone corporate.

First Solar, the rapidly growing solar panel maker, has been placed on the S&P 500.

"First Solar is the first pure-play renewable energy company to be added to the index, which represents a milestone for the solar industry," First Solar said. "The company will be added to the S&P 500 GICS [Global Industry Classification Standard] Electrical Components & Equipment Sub-Industry of the Industrials sector," according to an Oct. 18 Seeking Alpha report.