© 2013 SunPower Corporation
SunPower
High Efficiency Technology Advantages in Solar Roof Top Applications in India
™
Arun KumarCountry Managing Director
26th September 20134th World Renewable Energy Technology Congress , New Delhi
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SunPower Confidential
• A global integrated company leading innovation in PV since 1985 with a differentiated go-to-market and geographic coverage approach
• A well-capitalised partner with a strong balance sheet and solid financial backing
• A superior technology, the world’s highest efficiency1, built around a fundamentally different solar cell
• A 360 solution partner to deliver the most energy at lower LCOE
SunPower ™ isMore Energy. For Life.
SunPower is…
™
1 SunPower holds the world-record large silicon panel efficiency (21.4%). Green, M. A., et. al. “Solar Cell Efficiency Tables (version 39),” Progress in Photovoltaics, 2013, vol. 21, p1-11
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SunPower Corporation
Highest efficiency1 Highest production2 Highest reliability3
• World-leading solar conversion efficiency1
• >2.5 GW solar PV deployed
• Diversified portfolio: roofs to power plants, on-grid and off-grid applications
• Publicly listed on NASDAQ
• 2012 revenue: $2.4B
• 1 GWp total production capacity at end of 2012
• 5,000+ employees
• We only do solar, more than 200 patents
• Majority owned by Total Group (#11 Fortune 500)4
1 SunPower holds the world-record large silicon panel efficiency (21.4%). Green, M. A., et. al. “Solar Cell Efficiency Tables (version 39),” Progress in Photovoltaics, 2013, vol. 21, p1-112 BEW Engineering, part of DNV KEMA, SunPower Yield Report, Jan 2013. Compared to Conventional 15% efficient silicon panels.3 Romero, Ralph, et al. “Review of SunPower Fleet-Wide System Degradation Study using Year-over-Year Performance Index Analysis,” Black & Veatch Eng., Nov. 2012. 4 Source: 2012 Fortune 500 Global Ranking
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• 11th largest company in the world1
• 2012 revenue: €200B• First largest capitalisation on the
Euronext Paris and the Euro zone
• $1.5B investment, 66% majority share in SunPower
• $1.0B credit support agreement to facilitate continued SunPower growth
• $600M of liquidity support• $24M, 4-year R&D support
Well capitalised company backed by Total
1 Source: 2012 Fortune 500 Global Ranking
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• Sold to Warren Buffett's MidAmerican Solar for an agreed amount between $2.0B and $2.5B
• Two long-term PPAs with Southern California Edison (SCE)
• SunPower EPC with Oasis C1 and O&M services
• Power approximately 400,000 homes
579 MW Antelope Valley Solar Projects (AVSP)World’s largest permitted solar development
“ We are pleased to be working with SunPower on this project. We are very proud to add SunPower technology to our portfolio of projects.“ - Bill Fehrman, president of MidAmerican Renewables
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Proven experience Our customers
Power plants Off-gridLarge commercial
*All other trademarks or logos are property of their respective owners.
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Superior technology
SunPower delivers state of the art solar solutions built around fundamentally different cell and panel technology.
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The SunPower™ Maxeon™ solar cell is fundamentally different solar
• Patented back contact cell technology• Built on solid copper foundation• Record breaking efficiency1
• Exceptional performance• Unmatched reliability2
24.2% efficiency
1 SunPower holds the world-record large Silicon panel efficiency (21.4%). Green, M. A., et. al. “Solar Cell Efficiency Tables (version 39),” Progress in Photovoltaics, 2013, vol. 21, p1-11.2 #1 rank in "PV Module Durability Initiative Public Report," Fraunhofer ISE, Feb 2013. Five out of the top 8 largest manufacturers were tested. Campeau, Z. et al. "SunPower Module Degradation Rate," SunPower white paper, Feb 2013. See www.sunpowercorp.com/facts for details.
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Conventional panel (same size)SunPower panel with Maxeon
FRONT BACK
No metal Copper-plated
327WFRONT
Thin lines of metal paste
BACK
Full-coverage metal paste
240W
The heart of the SunPower panelis the Maxeon solar cell
1 Definitions used throughout presentation: “Conventional Panel” is a 240W panel, 15% efficient, approx. 1.6 m2, made with Conventional Cells. “Conventional Cells” are silicon cells that have many thin metal lines on the front and 2 or 3 interconnect ribbons soldered along the front and back.
• The Maxeon cell has a fundamentally different design from a Conventional Cell: it’s built on a solid copper foundation.
• Copper plated solar cells cost more to manufacture than Conventional Cells, but the investment pays off with a much more reliable and high-performing solar cell.
• SunPower is the only manufacturer with a cell built on a solid copper foundation – the Conventional Cells are made by baking a metal paste onto the silicon wafer – just like screen-printing a logo onto a T-shirt.1
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Maxeon Cell TechnologyDelivers more energy per rated watt
1. Anti-reflective glass captures more energy during cloudy periods and early/late hours
2. N-type Silicon has no Light-Induced Degradation (LID)
3. Backside mirror captures a broader input spectrum
4. Runs cooler (higher efficiency = less heat), and loses efficiency more slowly with heat, and has a lower Normal Cell Operating Temperature (NOCT)
5. Maintains high efficiency at low light levels
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3rd party test of 115 PV Manufacturers to measure the additional energy per rated Watt• SunPower E-Series ranked #1 #2 #3 with the most energy per rated Watt out of
all of the 190 panels• SunPower averages 8% more energy per rated Watt compared with the other
top 10 panel manufacturers in the study1
1 Photon International (Jan. 2013), based on 2011 MW Shipments
1,150Energy Production per flash-tested Watt
1100
1050
1000
950
8% more energy
Pro
duct
ion
(kW
h / k
Wfla
shed
)Proved by Photon results (kWh/kWflashed)
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SunPower Confidential
Backed up the best warranty1 in the industry
SunPower
5 10 15 20 25
YEARS
75%
80%
85%
90%
95%
100%
Power Guarantee
Traditional Warranty
1 Warranty applicable on modules, T5 and Oasis C1
87%
5 10 15 20 25YEARS
0
Traditional Warranty5-10 Years
25 YearsSunPower
Product Warranty
9% more warranted energy
15 to 20 years more warranted life
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SunPower Confidential
SunPower Life Time Energy Advantage Ideal Choice for Roof Top and Telecom
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SunPower Confidential
-2.00
-1.00
0.00
1.00
2.00
3.00
4.00
5.00
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Rs.
Cr
Year
PV- Diesel Hybrid Payback
Cumulative Project Cash Flows
5years
• Project Capacity : 1300kW*• System is designed such that all
generation from PV system can be used
• PV yield : 1650kWh/kWpSunPower technology (8% higher generation, 0.25% p.a degradation)
• PV System costs– Capex : 2000 $/kWp
– Opex : ~ 1% p,a of capex
• PV system financing – Debt/Equity : 60/40– Debt : 12% p.a and 12 years
• Diesel fuel generation cost @ Rs15/kWh + 2% p.a escalation
Main Assumptions DCF Payback Analysis
High financial attractiveness of PV- Diesel Hybrid lead to various business models
Financial attractiveness of PV System to Investors
* Commodity modules will be 1000kWp (space limitation)
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Business models for financing of PV-Hybrid Systems
• Industrial end user is operator/owner of Gen Set and PV system
• SPV is a subsidiary of End User ultimately
• Motivation is reduction of fuel cost and CO2 emissions
• Benefits are short payback and fuel saving potential : risk hedging against future increase in fuel costs
CAPEX(Build, Own & Operate)
IPP (RESCOs)
Investors & Intl Funding(TPOs)
Investor
SPV
Banks
EPC End User
Investor
SPV
Banks
EPC End User
System Owner
PPA
Investor
SPV
Banks
EPC End User
Lease Rent
• IPP acts as third party and sells kWh to end user under a PPA
• IPP secures financing of the system based on PPA strength
• Motivation is reduction of fuel cost, RPO obligations and diversification of supply source
• Benefits are lower electricity costs and risk hedging against future increase in fuel cost and REC market
• Investors and bank actively involve as they see reasonable return on investment on their balance sheet
• International financing enables local financing issues and lowers costs of financing
• Motivation : high ROI
• Benefits are sustainable investment with attractive opportunity to risk ratio
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MAHARASHTRA821 kW – T0 Tracker+PV
ANDHRA PRADESH1 MW – T0 Tracker400kW – High Efficiency Modules RT
RAJASTHAN30 MW – T0 Tracker
TAMIL NADU553 kW – T0 Tracker + PV118kWp – High Efficiency Modules RT
More than 32 MW installed with SunPower technology
NEW DELHI930 kW – High efficiency modulesNOIDA50kWp – High efficiency modules
Ground mount project Rooftop projectSunPower track-record in India
Indira Paryavaran Bhawan, New Delhi 930kW
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Indira Paryavaran Bhawan, New Delhi 930kW
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Infosys Campus Chennai – 118 KWp
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Inverter Mounting
Elcomponics Group, Noida 50kW
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821 kWp PV Plant ‐MaharashtraCourtesy of Clover Solar
500kW PV Plant –Coimbatore, Tamil Nadu Courtesy of Swelect
930 kWp solar rooftop–New Delhi Courtesy of CWPD
40kW PV Plant –NepalCourtesy of Solar Solutions
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SunPower Confidential
SunPower Telecom Solution Superior performance in Indian conditions
PV modules
MPPT Charge Controller
Intelligent Load Controller
TSX logger
Load
Diesel Generator(hybrid sites)
Battery Bank
Modbus
SMS Web portal
GPRS, TCP/IP
SPWR high efficiencymodules (20% efficiency)
• Degraded mode: system still operates if TSX fails
• Mercury free
I/O extension module (optional)
Genset, modbus connected
Connected to Sunpower web portal
© 2013 SunPower Corporation
Not all solaris the same