LONGi Solar and Hi-MO1...Solar Page 8 LONGi Solar Confidential System Cost Savings with Mono/PERC Modules Residential Multi Mono PERC Module Power (W) 270 285 300 Number of module

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www.longi-solar.comLongi Solar Confidential

LONGi Solar and Hi-MO1

January 2018

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Page 2 LONGi Solar Confidential

SolarLONGi Solar Milestone

Feb. 2000

LONGi founded

Ningxia 1000 ton ingot fabcompleted

IPO on Shanghai Stock Exchange

Nov. 2009

Xi’an LONGi 350MW wafer fab established

Oct. 2013

Delivered 1GW mono wafer;Became the largest mono

wafer supplier globally

2017

Sept. 2007 Apr. 2012Nov. 2014

Ingot

Wafer

Cell

Module

15GW

15GW

5.5GW

6.5GW

LERRI acquired; expanding into solar cell and

module business

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SolarMono vs. Multi

MULTI

• Wafer- DSS (Direct Solidification System) growth, lower quality

multi crystalline structure, higher dislocation density (103-109/cm2), and plenty grain boundary

- Higher impurity, low MCLT- Lower Oi concentration (<8ppma)

• Cell- Lower cell efficiency (<18.5%), improvement potential

limited

• Wafer- Cz (Czochralski) growth, high quality mono crystal,

dislocation density low (<103/cm2), and no grain boundary

- Lower impurity, high MCLT- Relatively higher Oi concentration

• Cell- Higher cell efficiency (>19.6%), larger improvement

potential

MONO

晶界

晶粒

Mono wafer is better quality material

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SolarCell Efficiency Roadmap

Mono wafers show higher cell efficiency than multi wafers

Mono

Multi

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SolarBenefit #1: Higher Power Density

Multi Mono Mono-PERC

Cell Efficiency 18.8% 20.0% 21.2%

Pmax (cell) 4.6W 4.9W 5.2W

Pmax (72C) 320W 340W 360W

Example #1: Utility# of module (100MWDC)

312,500294,100

(-6%)277,800(-11%)

Pmax (60C) 270W 285W 300W

Example #2: Rooftop(20 panels)

5.4kw 5.7kw 6.0kw

Higher power density with mono module means fewer modules required for each

project or more power/kwh can be achieved with limited space

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SolarHigh Power – BOS Savings

Use of high efficiency mono/PERC

module, BOS cost savings can

be realized with reduced use of

• Land

• Racking

• Cables

• Earth/concrete work

• Labor

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SolarSystem Cost Savings with Mono/PERC Modules

Using high efficiency Mono/PERC modules, significantly cost savings can be realized at

system level; savings on commercial and residential projects are higher than utility projects

Utility Commercial Residential

Multi Mono PERC Multi Mono PERC Multi Mono PERC

Module Power (W) 320 340 360 320 340 360 270 285 300

BOS cost ($/W) for US solar project 0.65 0.63 0.61 1.30 1.27 1.24 2.03 2.00 1.97

Hardware cost ($/W) 0.24 0.23 0.22 0.40 0.38 0.36 0.51 0.48 0.46

Labor ($/W) 0.15 0.14 0.13 0.20 0.19 0.18 0.32 0.30 0.29

Other soft cost ($/W) 0.26 0.26 0.26 0.70 0.70 0.70 1.20 1.20 1.20

Savings on system cost ($/W) 0.02 0.04 0.03 0.06 0.05 0.08

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SolarSystem Cost Savings with Mono/PERC Modules

Residential

Multi Mono PERC

Module Power (W) 270 285 300

Number of module 20 20 20

System power (W) 5400 5700 6000

BOS cost ($/W) 2.03 1.92 1.83

Hardware cost ($/W) 0.51 0.48 0.46

Labor ($/W) 0.32 0.30 0.29

Other soft cost ($/W) 1.20 1.14 1.08

Savings on BOS cost ($/W) 0.11 0.20

Savings on BOS cost ($/system) $609 $1218

Most of soft costs are fixed on a per project basis; Large BOS savings (on $/W basis) can be realized using high efficiency mono/PERC modules

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Hi-MO1 ranked No. 1 in TUV Rheinland energy yield simulation for all modules

• TUV Rheinland established module PAN file with performance measurement under different irradiance, temperature and incident angle using randomly selected module samples from production shipment

• Simulated energy yield in five different cities globally• Not intended as performance guarantee

Benefit #2: Better Energy Yield with PERC Modules

Simulated power generation (kWh/kWp/year）

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SolarBetter Energy Yield with PERC Modules

Contributions:1. Better performance at low irradiance2. Lower operation temp3. Better TempCo with PERC

Hi-MO1 (PERC) module power generation is >3% higher than Multi module

System setup: 8pcs 290W Hi-MO1 module and 260W Multi modules (Tier1 supplier), 3kw inverter

Data source: China Electric Institute

0

1

2

3

4

5

6

0

1

2

3

4

5

6

10 11 12 1 2 3 4 5 6 7 8 AVG

Energy Yield Comparison (Oct ’16 – Aug ‘17)_Sanya

PERC Multi Energy yield increase

Dai

ly e

ner

gy y

ield

(kw

h/k

w)

Ene

rgy yield d

elta (%)

AVG increase+3.93%

South China, hot and humid

http://www.cei1958.com/index.aspx

http://www.cei1958.com/index.aspx

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SolarBenefit #2: Better Energy Yield with PERC Modules

0.45%

2.09%2.46%

3.62%

5.02%

4.59%

6.94%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%

0

5

10

15

20

25

30

35

Po

we

r o

utp

ut（

kW

h/k

W）

Irradiance(W/m2)

PERC Multi Increased ratio

27.13

27.71

23.80

20.00

22.00

24.00

26.00

28.00

30.00

1 2 3 4 5 6 7 8 910

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

aver…

TE

MP（

oC）

Mono PERC Conventional multi Environment temperature

Comparison of module temperature in SanyaModule power output of different irradiance in Sanya

＞1000

3%

800-100033%

600-80023%

500-60010%

400-5008%

200-40014%

0-2009%

Percentage with different irradiance in Sanya

17:50:0017:55:0018:00:0018:05:0018:10:0018:15:0018:20:0018:25:0018:30:0018:35:0018:40:0018:45:00

Inv

ert

clo

se

d t

ime

Mono PERC Multi

Invert starting time

15

20

25

30

35

40

45

50

55

07:00

07:30

08:00

08:30

09:00

09:30

10:00

10:30

11:00

11:30

12:00

12:30

13:00

13:30

14:00

14:30

15:00

15:30

16:00

16:30

17:00

17:30

18:00

18:30

19:00

Mod

ule

surf

ace

tem

p（o C）

Module Temperature Monitoring

Mono PERC

Multi

Ambient Temp

Average ~3C

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SolarBenefit #3: Slower Power Degradation

More electricity is generated in the long term with mono modules (w/ same Pmax)

NREL analysis shows mono modules

demonstrated lower long-term degradation

rate than multi modules

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Benefits of using high efficiency mono PERC modules– Higher efficiency/power density resulted in BOS cost savings (lower system cost)

– PERC modules demonstrated higher energy yield

– Mono/PERC modules showed slower long term degradation rate

With above benefit, lower LCOE can be realized using mono PERC modules

Value Proposition of Using High Efficiency PERC Modules

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SolarLONGi Green Energy Technology Company

Mono WaferMono Ingot

Mono Cell

Mono Module Mono Power Plants

Since established in 2007, LERRI devotes itself to R&D

and manufacturing of high efficiency mono solar cells and

modules. LERRI Solar was renamed LONGi Solar in 2017

Founded in 2000, Xi'an LONGi Silicon Materials Corp. is the largest

mono crystal manufacturer in the world. It provides high-quality

products and services for photovoltaic and semiconductor industry;

It was renamed LONGi Green Energy Technology Co. Ltd. in 2017

Silicon

Solar

Energy

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SolarGlobal Presence

MALAYSIACell Capacity 600MW / YR

Module Capacity 600MW / YR

LONGi SOLAR USACalifornia

LONGi SOLAR JAPAN〒101-8001東京都千代田区丸の内１丁目８番１号11階

SHANGHAI OFFICE

HEFEICell Factory (500MW/YR)

QUZHOU Module Factory (2GW/YR)

INDIA (Under Construction)

Cell Capacity 500MW / YR

Module Capacity 500MW / YR

Tariff Free Solution

LONGi SOLAR EuropeFrankfurt

YINCHUANModule Factory (500MW/YR)

Xi’an HEADQUARTERSOPERATION CENTER

Module Factory (500MW)

TAIZHOUR&D Center (CELL & Module)Cell Factory (2GW/YR)

Module Factory (2GW/YR)

LONGi Solar

Tariff Free Solution

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SolarFinancial Strength

566 915

1,671

2014 2015 2016

50%

44.6%

47.4%

2014 2015 2016

992

1,570

2,779

2014 2015 2016

Total assets (Million USD)

Revenue (Million USD)

+77% +180%

+83% 47%

2016Debt Ratio

4680

224

96

186

459

2014 2015 2016

Net Profit (Million USD)

Gross Profit (Million USD)

Market Cap >US$11Bas of 12/31/2017

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SolarFinancial Strength

Market– Solar faces a strong headwind of oversupply in

2017-18– Nevertheless, mono c-Si global market share to

continue to grow to 35% in 2017 and 50% in 2020

LONGi– Technology-driven cost reduction is the core

competitiveness, solar conversion efficiency improvement is the most effective way to cut costs

– Solid bottom-line growth– Growth potential from value chain extension to

module and solar project development

Morgan Stanley (April 18, 2017)

Prefer Cost and Technology Leaders Amid Dark Times for Solar

A B C D E F

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1st Quartile 2nd Quartile

3rd Quartile 4th Quartile

Major PV module manufacturers

Strong Financial Performance

Strong financial performance

recognized by industry:

– Financial health No.1

– Profitability and cost leadership top 3

– Overall score top 5

PHOTON Consulting, LLCPV Triathlon Report in Nov, 2017

Financial Health No. 1 among all PV Manufacturers

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LONGi Solar

on Bloomberg (BNEF) PV Module Maker Tier 1 List !

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SolarCustomers

LONGi Solar shipment 1GW in 2015, 2.3GW in 2016 and 4.66GW in 2017

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R&D Investment

5-7% of LONGi ‘s total revenue is invested in R&D

Patents

Has developed 190 patents on ingot, wafer, cell and module

technology

5-7% 700190

Technical Team

More than 700 technical staff working on ingot, wafer, cell, and

module development

21

Technology Strength

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Equipment Materials University Customer

Strategic Partners

LONGi Solar has established strong strategic partnership with equipment and

material suppliers, leading research institute and university, as well as customers, to

advance development on ingot, wafer, cell and module technology

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SolarLONGi Mono Capacity Expansion Plan

7.5

15

20

25

5 6.5 8 10

2016 2017 2018 2019

Wafer

Module

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SolarGreen Manufacturing

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Focus on MONO Products only

Product Offering

Hi-MO1

PERC

Hi-MO2

Bifacial

PERCMono

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SolarTechnology Roadmap: Cell

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SolarTechnology Roadmap: Module

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SolarTechnology Roadmap: Module

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Hi-MO1: Mono PERC

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SolarLONGi Solar’s Low LID PERC: Hi-MO1

21%+ average cell efficiency, 60C module power at 300W+ and 72C module at 360W+

Outstanding low-light performance, which produces more energy than normal AlBSF mono module at system level

Outstanding temperature coefficient

Excellent LID performance validated by TUV- LID <2% after 300kWh exposure, enabling

low 1st year degradation

Suitable for utility, as well as commercial and residential rooftop applicationsR

ela

tive P

ow

er

to Initia

l P

max

100%

99%

98%

97%

96%

95%

300kwh/m2180 24012060

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SolarPERC Cell Efficiency Performance

PERC production cell efficiency average >21.2%;

Record 22.17% PERC cell efficiency demonstrated through next Gen development

74.7%

21.4%

3.8%

0.1%

21.3%

21.2%

21.1%

21.0%

Ce

ll e

ffic

ien

cy

PERC Cell Production Efficiency Distribution

PERC Cell efficiency record

22.17% 2017.4

22.43% 2017.8

22.71% 2017.10

23.26% 2017.10

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SolarPERC Module Performance

60C module production Pmax >90% at 300W or above;

Record 325W (60C) module power demonstrated through next Gen development

6.9%

59.7%

30.6%

2.8%

295W

300W

305W

310W

60C PERC Module Power Distribution 316.6W Module power record – Dec. 2016

325.6W Module power record – Apr. 2017

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Page 33

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Aluminum frame20%

Glass19%

Backsheet13%

EVA9%

Junction box9%

Other materials

9%

Workers and

enginners12%

Electricity1%

Miscellaneous8%

Cell to module:

12.1 ¢/W

Glass

EVA

Solar cells

EVA

Backsheet

FrameJunction box

100% DuPont™ Tedlar® Backsheet

Tedlar® PVF

Polyester

Tedlar® PVF

High Reliability: Material Selection

The only backsheet with 30 year

real life field performance

verification, adaptable to various

climate (desert, tropical, coast and

mountain), providing consistent

long term protection

Outer layer uses DuPont Tedlar

PVF film to provide best protection

against UV, heat, moisture,

mechanical stress and chemical

corrosion

Since 1978, backsheet based on DuPont Tedlar PVF film has been used in PV modules

PV module 25 year warranty

Nylon

Hydrolysis resistant PET

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LONGi Solar modules are among Top Performers (to

the left of each green line) for All extended reliability tests

High Reliability: 2017 DNV-GL Reliability Scorecard

TC600

DML+TC50+HF10

HF30DH2000

PID96 (85C/85RH)

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SolarPERC Module Linear Power Performance Warranty

Low LID and slower power degradation enabled better warranty term

10Y MATERIAL&

CRAFTWORK

WARRANTY

10Y 93.05%

WARRANTY

POWER-OUTPUT

25Y 84.80%POWER-OUTPUT

WARRANTY

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Thank You for Your Attention

乐叶光伏科技有限公司

地址：陕西省西安经济技术开发区尚稷路8989号B座

电话：4009696199

LONGi Solar

Block B, No.8989 Shangji Road, Xi'an Economic and Technology Development Zone, Xi'an,

Shaanxi, China

TEL: +86-4009696199

Documents

LONGi Solar and Hi-MO1...Solar Page 8 LONGi Solar Confidential System Cost Savings with Mono/PERC Modules Residential Multi Mono PERC Module Power (W) 270 285 300 Number of module