Bifacial PERCBetter LCOE Solution

Hongbin Fang

Director of Product Marketing

Denver, September 10, 2018

Mono PERC and Bifacial PERC

ARC SiNx

Electrode

N+ emitter

Rear passivation

Al fingers

ARC SiNx

Electrode

N+ emitter

Rear passivation

Rear AIBSFPERC

Bifacial PERC

P-type Si

Bifacial Technology

Mono-facial to Bifacial power generation

⚫ LONGi Solar Bifacial PERC Hi-MO2 cell and

module bifaciality >75%

⚫ Significant increase on energy yield

⚫ Double glass lamination, 30 year power

degradation warranty

Product Feature

Conventional PERC cell structure Bifacial PERC cell structure

Application⚫ Utility

⚫ Commercial rooftop and carport

Performance and cost⚫ Front side efficiency equivalent to conventional PERC

⚫ Manufacturing cost comparable to conventional PERC

⚫ Bifacial light harvesting, 8%-25% power gain from rear side

10Y

Module Power Degradation Warranty

WARRANTY

MATERIAL& CRAFTWORK

10YPOWER-OUTPUT

>93.95%

30YPOWER-OUTPUT

>84.95%

Optimize System Design toImprove Bifacial Energy Yield

Mono facial module Bifacial module

Direct sunlight Direct sunlight + Reflection + Scattered light

Backside Energy Yield

System Design with Bifacial Module

Backside Energy Yield: Albedo

Bifacial gain improves with increasing ground Albedo

Backside Energy Yield: Albedo and Height

⚫ Bifacial module backside energy

yield improves with increasing

Albedo (background reflectivity).

Selecting site with more reflective

background can improve overall

system energy yield

⚫ Increasing module height

improves backside energy yield,

as well as backside irradiance

uniformity

⚫ Module height (clearance from

ground) of 1m and above is

recommendedIrradiance at backside - Clearance 8 cm Irradiance at backside - Clearance 108 cm

Bifacial PERC Module

Field Monitoring Data

⚫ Bifacial PERC Capacity 2.8kw, multi capacity 2.7kw, project located in Taizhou test site (N32.5°/ E119.9°), China

⚫ Fixed tilt configuration

⚫ With same background condition, increasing backside energy yield with increasing racking height

Data from Taizhou test site (N32.5°/ E119.9°)

13.5%

20.10%

23.70%

0%

5%

10%

15%

20%

25%

2

3

4

5

Multi Bifacial/TPO/1m Bifacial/TPO/1.5m Bifacial/TPO/2m

Dail

y e

nerg

y y

ield

(kW

h/k

W)

Daily energy yield (kWh/kW) Energy yield gain

0%

2%

4%

6%

8%

10%

12%

14%

0

2

4

6

8

10

12

14

En

erg

y y

ield（

kW

h/W

p）

Bifacial PERC Std Mono Gain (%)

⚫ Bifacial PERC Capacity 18.9kw, std. mono capacity 18.25kw, project located in Pucheng, Shaanxi (N34.97°/E109.59°), China

⚫ Fixed tilt configuration (15 degree), distance to ground 1.6m

⚫ Three month monitoring data showed 11.27% energy yield from backside

+11.27%

Bifacial PERC Module

Field Monitoring Data

Kubuqi Bifacial Field Data

⚫ Bifacial PERC project (336kw on single axis tracker) in Kubuchi, Inner Mongolia (N45.36°/E118.36°), China

⚫ 1Yr energy yield by Bifacial module + tracker is 26.7% higher than Multi module/fixed tilt and 15.9% higher than Multi/tracker

+15.9%

Bifacial PERC Module

Field Monitoring Data

Higher Energy Yield

with PERC and Bifacial PERC

1200

1300

1400

1500

1600

1700

1800

1900

2000

Multi Mono PERC Tracker+Mono PERC Tracker+Bifacial PERC

An

nu

al e

ne

rgy y

ield

(kw

h/k

w)

2-4%imprv’t

10-15%imprv’t

10-15%imprv’t

PERC Efficiency Improvement Potential

23.60％Dec. 2017

333.7W / 20.41％Jan. 2018

22.41％82.15％

( Bifaciality )

22.71％

23.68％Dec. 2017

360.3W(Half-cut) Apr. 2018

Bifacial PERC CellPERC Cell PERC Module

2017.10 2017.11 2017.12 2018.01 2018.04

Cell Efficiency Cell Efficiency Module Power

Bifacial PERC Technology Roadmap

365

375380

385

375

385

390395

395400

405

2018 2019 2020 2021

Bifacial PERC_Full cell Bifacial PERC_Half cell Bifacial PERC_Shingling

Technology Strength Through Consistent R&D Investment

$379M2012-2017 accumulated

12.924

39.1 46

86.6

176

4.90%

6.80% 6.90%

5% 4.90%

6.77%

0%

1%

2%

3%

4%

5%

6%

7%

8%

2012 2013 2014 2015 2016 2017

R&D investment per year

R&D ($M) % of revenue

R&D spending

5-7%(of revenue)

260 patents awarded

460 staff member

LONGi Solar:

Feb. 2000 Apr. 2012 Nov. 2014 2020

Sept. 2007 Oct. 2013 2018

Ningxia 1000T mono ingot fab completed;LONGi enters PV materials business

Delivered 1GW mono wafer;Became the largest mono wafer supplier globally

Ingot / Wafer 28GW

Module 12GW

LONGi foundedIPO on Shanghai

Stock Exchange

LERRI acquired; expanding into solar cell/module business

Dedicated in Mono 18 years

Ingot / Wafer 45GW

Diamond Wire Slicing Technology

$3BAnnual savings using

DWS technology

Wafer Cost Reduction

$0.16/pcsNon-Si mono wafer cost

by 2020

Largest Mono Wafer and Module Manufacturer

MonoWafer

Global market share by LONGi

MonoModule

35% 16%

50.0%

44.6%47.4%

56.7%

2014 2015 2016 2017

566 945

1,833

2,602

2014 2015 2016 2017

992 1,623

3,047

5,226

2014 2015 2016 2017

46 80

224

567

96186

459

840

2014 2015 2016 2017

Strong Financial Performance

Market Cap

~US$7Bas of 6/30/2018

2017

+72%

+42%

+130%

57%

Total assets (Million USD)

Revenue (Million USD) Debt Ratio

Net Profit (Million USD)

Gross Profit (Million USD)

Financial Health

Major PV module manufacturers

PHOTON Consulting, LLC

PV Triathlon Report in Nov, 2017

1.6

1.4

1.1

0.80.7

0.6 0.60.5

0.30.2 0.2

0.10

-0.2

-0.4-0.5 -0.5

-0.6

-1.4

-2

-1.5

-1

-0.5

0

0.5

1

1.5

2

1ST Quartile 2nd Quartile 3rd Quartile 4th Quartile

Strong financial performance recognized by industry:

– Financial health No.1

– Profitability and cost leadership top 3

– Overall score top 5

Financial Health No. 1 among all PV Manufacturers

Green Manufacturing

Thank You

for Your Attention