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Series 6 Technology Readiness & Roadmap

Solar Symposium 2018

Nick Strevel | Head of Global Technical Sales

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HISTORY OF RAPID TECHNOLOGY ADVANCEMENT

• Original mass-production Series• 116 cells in Series• 50W – 80W Nominal Output

Series 22011 – 2012

• Locking Type Connector• Lower module voltage (154 Cells in two 77-cell parallel blocks lower path resistance) • 70W– 92.5W Nominal Output

Series 32012 – 2013

• Upgraded encapsulant & Black SET edge seal• Independent Thresher Test, PID Free Test (negative ground), TUV R. Long-term Sequential Test.• 85W – 95W

Series 3 Black2013 – 2014

• ZnTe Barrier Layer introduced to prevent Cu Mobility• Significant improvements in OC and long-term degradation. Hot-climate guidance eliminated.• 90W – 100W

Series 3 Black Plus2014 – 2015

• Certified PID Free with ungrounded & grounded systems up to 1500V• Anti-Reflective Coating Introduced. Improved laser scribe & thinner TCO.• 92.5W – 105W

Series 42015

• New P-N CdTe alloy composition results in graded absorber layer with better quantum efficiency• Negative side-effect of increased temperature co-efficient (-0.29%/oC –0.34%/oC)• 100W – 117.5W

Series 4V22015 – 2016

• Optimisation of S4V2 graded bandgap. Improved Temperature Coefficient (-0.34%/oC –0.29%/oC)• Positive Power Tolerance (-0 /+5W)• 105W – 120W

Series 4V32016 – PRESENT

… is this where weare stopping?

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HOW WE GET TO OVER 6 GW’S CAPACITY

Q1 Q2 Q3 Q4

2017

Q1 Q2 Q3 Q4

2018

Q1 Q2 Q3 Q4

2019

Q1 Q2 Q3 Q4

2020

MALAYSIA S4 FACTORY 1 – 1000MW NAMEPLATE

MALAYSIA S4 FACTORY 2 – 1000MW NAMEPLATE

OHIO S6 FACTORY – 600MW NAMEPLATE

MALAYSIA S6 FACTORY 1 – 1200MW NAMEPLATE

VIETNAM S6 FACTORY 1 – 1200MW NAMEPLATE

VIETNAM S6 FACTORY 2 – 1200MW NAMEPLATE

MALAYSIA S6 FACTORY 2

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Module 37%

Inverter 8%

EBOS 5%SBOS 9%

Labor 12%

Design & Engineering 1%

Permitting & Interconnection 4%

Civil 4%

Supply Chain, Logistics & Misc 3%

Taxes 4%

Overhead & Margin13%

2019E US SYSTEM COST BREAKDOWN

THE BOS OPPORTUNITY

S6 Design Impacts

~20% of system cost

(Not to mention module cost )

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• High Efficiency

• Improved BOS installation cost (labor is 12%, innovative solution addressing labor beyond efficiency)

• Framed with standard structure compatibility

SERIES 6: COMPELLING FOR US AND OUR CUSTOMERS

SERIES 6440Wp

72 cell Silicon

~350Wp

20% Wider

MORE WATTS

Module

37%

Inverter 8%

EBOSSBOS 9%

Labor

Design & Engineering 1%

Permitting &

Interconnection 4%

Civil 4%

Supply Chain,

Logistics & Misc 3%

Taxes 4%

Overhead & Margin

2019E US SYSTEM COST BREAKDOWN

6

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OPTIMIZED FROM START TO FINISH

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ECOSYSTEM APPROACH – SCALABILITY AND OPEN INNOVATION

&FIXED-TILT TRACKER 20+COUNTRIES

ELECTRICAL BOS

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S6 WATTS PER MODULE ROADMAP

FSLR data is Q4 average lead line watts per module for each respective year. 72-cell multi-PERC cSi and mono-PERC cSi roadmaps from GTM PV Pulse Aug 2017. Energy Yield advantage approximated as 5% - actually site dependent

87 91 98112 116 119 119 119

430

460

0

50

100

150

200

250

300

350

400

450

500

2012 2013 2014 2015 2016 2017E 2018E Mid-Term

Standard Multi Advanced P-Type Mono Series 4 Series 6 S4 Energy Adjusted S6 Energy Adjusted

STC Wp

S4 to S6 Transition

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S6 WATTS PER MODULE ROADMAP

FSLR data is Q4 average lead line watts per module for each respective year. 72-cell multi-PERC cSi and mono-PERC cSi roadmaps from GTM PV Pulse Aug 2017. Energy Yield advantage approximated as 5% - actually site dependent

87 91 98112 116 119 119 119

430

460

125 125

452

483

0

50

100

150

200

250

300

350

400

450

500

2012 2013 2014 2015 2016 2017E 2018E Mid-Term

Standard Multi Advanced P-Type Mono Series 4 Series 6 S4 Energy Adjusted S6 Energy Adjusted

STC Wp

S4 to S6 Transition

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HIGH ENERGY YIELDRobust Manufacturing Foundation

SERIES 6 ADVANTAGE

LOW BOS CPWand higher install velocity vs c-Si

SERIES 6 CREATES VALUE FOR US AND OUR CUSTOMERS

*S4 cost per watt comparison is 2016 average ; S6 cost is fully ramped cost, not including start-up effects.