first solar cdte pv modules technology overview and energy...
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First Solar CdTe PV Modules Technology Overview and Energy advantage
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FIRST SOLAR AT A GLANCE
Driving innovation across entire value chain and plant solution
Cost competitive with conventional energy sources today
Partner of choice for leading utilities and global power buyers
Over 13.5 GW installed worldwide and a 3.2 GW contracted pipeline
Founded in 1999 and publicly traded on Nasdaq (FSLR)
Strongest financial stability & bankability in the industry
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PV MODULE TECHNOLOGY & MANUFACTURING
First Solar Fully Integrated, Automated and Continuous Thin Film Process
Conventional Crystalline Silicon Batch Technology
Glass In < 3.5 Hours Module Out
Semiconductor Deposition
CellDefinition
Final Assembly &
Test
Polysilicon OutputIngot
OutputWafer
OutputSolar Cell
OutputModule
First Solar Module Technology
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First Solar R&D Portfolio
First Solar Invests in the Industry's Broadest and Deepest R&D Portfolio
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WE’RE INVESTING IN THE FUTURE
Source: www.PV-TECH.ORG, June 2015
RESEARCH PARTNERSHIPS
$131M in
2015
$144M in
2014
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WE’VE COME A LONG WAY!
WORLD RECORDModule
• 131 Watt
• 18.2%* Efficiency
• Highest efficiency thin-film module in the world
FS Series 4V3
• 117.5 Watt
• 16.3% Efficiency
• Designed for 1500V systems
• Better Temp Coef
FS Series 3 Black Plus
• 95 Watt
• 13.2% Efficiency
• Lower degradation
• Thresher, Long Term Sequential Harsh Climate Reliability
FS Series 2
• 75 Watt
• 10.4% Efficiency
• Edge seal improved durability
Solar Cells, Inc.FS50
• 50 Watt
• 6.9% Efficiency
*aperture
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'95 '96 '98 '99 '04 '15
5%
10%
15%
20%
25%
30%
'14
SINGLE CRYSTAL SILICON (Non-Concentrator)
MULTICRYSTALLINE SILICON
'97 '01 '02 '11 '12 '13 '16
FEBRUARY 2016
22.1% FSLR
CdTe
RESEARCH CELL EFFICIENCY: Fastest Innovation Rate in the Industry
Each point is a certified result as published in NREL’s “Record Cell Efficiency Records”
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* Total Module Area Efficiency. 2015 record module would be 18.6% if reported on aperture area efficiency as is common practice amongst crystalline silicon manufacturers** Represents Q4 full fleet average. †Series 6
2013 2014 2015 2016 Mid Term
Research Cell 18.7% 20% 21.0% 22% 24%
21.0% 21.5% 22.1%
Research Module* 16.1% 17.2% 18.5% 19.4% 21.7%
17% 18.2% >19%
Manufacturing Average** 13.4% 14.4 -14.9% 15.1 -16.2% 16.9% >19%†
14.4% 16.1% 16.7%
Cell to Module Translation
Practical Manufacturing
1–2years
1–3years
RESEARCH IMPLEMENTATION: Roadmap
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IMPROVING >3 TIMES FASTER: than mc-Si
• Source: GTM Multi-crystalline silicon efficiency
17.3%
18.7%
20.4%
21.5%22.1%
14.4%
16.1%
17.0%
18.2%
19.0%
12.9%13.4%
14.4%
16.1%16.7%
12.0%
14.0%
16.0%
18.0%
20.0%
22.0%
24.0%
26.0%
2012 2013 2014 2015 2016
Record Cell Efficiency Record Module Efficiency Fleet Average Efficiency
12.0%
14.0%
16.0%
18.0%
20.0%
22.0%
24.0%
26.0%
2012 2013 2014 2015 2016
Fleet Average Efficiency Multi-Crystalline Efficiency
Slope = 105 Basis Points per Year
Slope = 27 Basis Points per Year
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LAB VS FIELD Conditions
Field condition efficiency is an approximate normalization for energy yield performance in Dubai on tracker.
Lab Condition (STC)
First Solar CdTe Efficiency 16.5%
mc-Si Efficiency 16.5%
Cell Temp 25°C
Spectral Gain 0%
15.5%
13.86%
65°C
+6% for CdTe
Field Condition (Energy Normalized)
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ENERGY DENSITY ADVANTAGE
Represents lead line efficiency for both First Solar and multi-crystalline silicon. Multi-crystalline silicon based on 2016 forecast from ITRPV roadmap dated July 2015.
A+B+C+D = 11%BETTER ENERGY DENSITY
UP TO
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Represents lead line efficiency for both First Solar and multi-crystalline silicon. Multi-crystalline silicon based on ITRPV roadmap dated July 2015.
ENERGY DENSITY ADVANTAGE | 2016
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Represents lead line efficiency for both First Solar and multi-crystalline silicon. Multi-crystalline silicon based on ITRPV roadmap dated July 2015.
ENERGY DENSITY ADVANTAGE I 2019
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FIRST SOLAR SERIES 6 PV Module
S5FIRST SOLARS4FIRST
SOLAR S6FIRST SOLAR
>400 W365 W117 W
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HIGHER POWER!
• 365W module
beats 330W multi
c-Si per
installation
10–12%
HIGHERENERGY DENSITY!
• Efficiency plus
Energy Yield
advantages deliver
up to 12% higher
Energy Density
BOSOPTIMIZED!
• Eliminate all clips
• Reduced
electrical
connections by
2/3
• >2x Increased
installation
velocity
World Leading
Reliability!
• Maintains world
leading extended
durability profile
and certifications
FIRST SOLAR’S NEW S5 365W Module with All the Perks!
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FIELD TESTED AND VALIDATED
First Solar Module Reliability
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RAISING THE BAR: EXTENDED RELIABILITY IN HARSH CLIMATES
• Basic foundation of PV module durability and reliability testing
• No longer the gold standard
• Now viewed to test ‘infant mortality’, but not extended module lifetime
• Thresher and Long Term Sequential are extended lifetime tests that differentiate
Traditional IEC Tests
TC200200 Thermal
Cycles -40 to
+85C
DH10001000 hrs Damp Heat
85C @85% RH
HF1010 Cycles Humidity
Freeze -40 to +85C @
85% RH
“Thresher Test”
http://www1.eere.energy.gov/solar/pdfs/pvmrw12_wedsam_tuv_tamizhmani.pdf
http://www1.eere.energy.gov/solar/pdfs/pvmrw2011_csi_thresher.pdf
Leading Edge Reliability
2X-4X
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ATLAS/SGS 25+ CERTIFICATION
• First Solar Modules independently certified by Atlas and SGS through the 25+ cycle.
• SunPower is the only publicly announced 25+ Certified Manufacturer (Residential module only)
http://www.pv-tech.org/news/sunpower_pushes_solar_panel_to_prove_extreme_capability#comments
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FIRST SOLAR MODULES– WORLD LEADING RELIABILITY
1-Panasonic HIT, Kyocera, Hanwha, Inventec, 2- Sunpower (residential module only, First Solar Production fleet)
• IEC 61646/IEC 61730 1500V Certification
• External Thresher Certification Pass!– <5% Power Output drop
• TUV Long Term Sequential Test Pass!— 1st thin film module to pass
— One of only 5 modules1 in the world to pass LST
• Atlas 25+ Pass!— One of only 2 modules2 in world to pass Atlas 25+
• PID-Free (+/- 1500V)
• IEC 60068 Desert Sand Resistant
1st Thin-Film PV Module to pass Thresher & TUV Long Term Sequential Test
— TUV Rheinland
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QUALITY & RELIABILITY INFRASTRUCTURE: RELIABILITY LAB CAPABILIT Y
Capability Active Capacity
Modules Tested Per Year Over 80,000 Modules
Modules Currently In Test Over 4000 Modules
MW Tested Per Year Over 8 MW
Reliability Lab Space 64,300 SqFt
Equipment Type Purpose
Environmental Chambers
(59)Acceleration of Package Degradation (Weathering)
Light Soak Units (136) Acceleration of Light Induced Degradation
Dynamic/Static Load Simulate Wind, Snow and Ice Loads
RCOLDetermine Risk of Fire Under Reverse Current Fault
Condition
UV ChambersEvaluate Materials and Adhesive Bonds
Susceptible to UV Degradation
Hail ImpactVerify Module Capable of Withstanding the Impact
of Hail
Hot Spot TestAbility of the Module to Withstand Heating Effects
from Soiling or Shading
Instron Material Tester Material Property Testing, Connector Force
Tracker Actuator Test Rig Acceleration of Tracker Actuator Cyclical Stress
First Solar Metrics Reliability Testing Equipment
Automated Equipment and Data CollectionPersonnel Training Program ISO 17025 Calibrated Equipment (Perrysburg)
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Location Size Climate
Arizona 320 kW Hot Arid
Ohio 350 kW Temperate
Malaysia 350 kW Hot Humid/Wet
Chile 36 kW Temperate
India 36 kW Hot Humid/Dry
Philippines 36 kW Hot Humid/Wet
QUALITY & RELIABILITY INFRASTRUCTURE: OUTDOOR PROVING GROUND CAPABILITIES
• Competitive Benchmarking• Evaluation of Technology Readiness• Comparison of Previous and Current Technologies• Performance and Reliability Modeling• Bankability
World-Class Outdoor Test Sites
Test Site Locations
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3RD PARTY MODULE CERTIFICATIONS
• First Solar maintains an extensive list of certifications, that goes beyond most other manufacturers
• First Solar’s manufacturing quality/reliability monitoring is comprehensive and industry leading
Highest Reliability & Value
High Price Market Price
Hig
h R
eli
ab
ilit
yL
ow
Re
lia
bil
ity
Commodity c-Si
High Efficiency
c-Si
FSLR thin-film
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COMPETITIVE CERTIFICATION LISTINGS
FSLR S3 Black/S4 SunPower Hanwha Yingli TrinaCanadian
SolarJA Solar
Solar
FrontierPanasonic SolarWorld Jinko Solar REC LG SunTech Aleo
Commodity
Competitor
IEC61701 Salt Mist Corrosion X X X X X X X X X* X X X X X X
Ammonia Resistance X X X X X X X X* X X X X X X
IEC Damp Heat 85C/85%RH 1000 hrs X X X X X X X X X X X X X X X
Damp Heat 85C/85%RH 2000 hrs X X X X X
IEC Temp Cycle -40 to +85C 200 Cycles X X X X X X X X X X X X X X X
Temp Cycle -40 to +85C 600 Cycles X X X X X
IEC Humidity Freeze 10 cycles X X X X X X X X X X X X X X X
Humidity Freeze 40 cycles X X X X
Chemical Exposure, FSLR-ALT, etc. X
Independent Thresher Test Certification X X
PID Free (negative grounded) X X X X X X X X* X X X X X
TUV Sequential Test Certification X X X
IEC 60068 Desert Sand Resistance X X X X* X* X X X X X
Atlas 25+ X X
Fraunhofer - PVDI Rating X X
1500V X X* X* X X X
Fraunhofer PVDI X X X
*Specific Module Types Only
Link To POWER
Fragmented Market, Lack of Focus
First Solar Module Long Term Performance
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0
200
400
600
800
1000
1200
0 20 40 60 80 100 120 140
Cal
c D
C P
ow
er
(PTC
)
Mos
EXTENDED THIRD PARTY FIELD TESTING — DEGRADATION AT NREL
¹ NREL Q2 2015 Study – FS Document PD-5-615 (±0.07 Type A Statistical Uncertainty) Author: Dirk Jordan, NREL² NREL Q2 2015 Study – FS Document PD-5-636 (±0.19 Type A Statistical Uncertainty) Author: Dirk Jordan, NRELPhoto Credit: Dennis Schroeder, NREL PIX 21822
20+ year NREL degradation study: -0.45%/yr(1) 14+ year degradation study: -0.29%/yr(2)
0
100
200
300
400
500
600
0 50 100 150 200 250
Cal
c D
C P
ow
er
(PTC
)
Mos
• Long-term linear degradation rate
• Degradation rates comparable to other established PV Technologies (c-Si, poly-Si)
• No indication of wear out mechanism or cliff event that would limit life
First Solar Energy Advantage
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SUPERIOR ENERGY YIELD
Shading
Linear Response to shadows
Temperature
Lower temperature coefficient
(-0.34 %/C)
Spectrum
Higher humidity means more light
into device compared to STC
2-5%2-4%0.5-1%
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Module Performance – Comparison To C-Si
• Robust against shading in landscape orientation (perpendicular to cells)
— FSLR Power loss is ~proportional to shading: 10% shading = ~10% output power loss
— Typical c-Si Power loss: 10% shading = ~30% output power loss1
— Minimizes early morning and late evening energy loss while allowing row spacing (array footprint) to be minimized
Shaded Area
Min.
Short side of module
1Partially Shaded Operation of a Grid-Tied PV System, Chris Deline, National Renewable Energy Laboratory (@ >800W/m2)
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Shading: CdTe Vs. C-Si
• Effect of shading is dependent on the electrical connections within the module.
— Some Si modules have multiple rows of series connected which results in non-uniform shading loss
• This result extends to array –level performance
— Power will drop to zero when voltage of array drops below inverter limit
0
20
40
60
80
100
0 50 100
%
mo
du
le p
ow
er
% shading
C-Si
CdTe
1Partially Shaded Operation of a Grid-Tied PV System, Chris Deline, National Renewable Energy Laboratory (@ >800W/m2)
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Proven Real World Performance Advantage FS Vs. CSi – Temperature Response
Typical Field Operating Temperatures
More Energy for Same Nameplate Watts
STC
FS: -0.28%/C
M-cSi: -0.45 to 0.5%/C
STC Field
Cell Temp 25C 65C
First Solar Module 100 W 88.2 W
M-Csi Module 100 W 80 W
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Spectral Response Advantage
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LAB VS FIELD Conditions
STC Field conditions (India)
Cell Temperature 25C 65-70C
Precipitable Water
Content (Pwat)
1.42 Higher Pwat (humidity) in most regions in India.
Between 3 - 4 in Telangana and Andhra Pradesh
Temperature Map Humidity Map
First Solar Plant Performance-Marikal Solar Parks Pvt. Ltd.(July 2015-June 2016)
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10 MW AC/ 11.6 MW DC, Marikal (Dhanwad), Telangana – Series 3
2.90%3.00%
3.20%
2.80%
2.20%
1.50%1.30% 1.30%
1.60%
2.00%
2.30%
2.90%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
50
70
90
110
130
150
170
190
210
230
Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16
Rad
iati
on
Yie
ld(K
Wh
/m2
)
MRKL- Solar GIS vs Actual Radiation(kWh/m2)& Spectral Gain(%)
Pv Syst(GII) Actual Radiation Spectral Gain(GIS)Source: Marikal solar Park Plant generation data
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Source: Marikal solar Park Plant generation data
Energy Generation Predicted vs Actual- MARIKAL
• Plant capacity - 10MW and SMA800CP Inverter are Installed
19140.0
20320.8
274.3
906.4
16500.0
17000.0
17500.0
18000.0
18500.0
19000.0
19500.0
20000.0
20500.0
Pv Syst (Include Spectral Gain) Weather Corrected Actual Generation Total
En
erg
y G
en
era
tio
n(M
Wh
)
Marikal- Energy Advantage -FSLR
Marikal July2015- June 2016- Energy Gain- MWh
4.67% Extra Generation vs Weather Corrected
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First Solar Module Performance w.r.t. Crystalline Module
Site Telangana
Latitude 18.3DegN
Longitude 78.4DegE
AC Capacity(MW)@ 50 Deg C 34
Inverter ABB, PVS800-57-1000kW-C
Module Make First solar P-Si Tier 1 (Brand A)
Model No. FS-4117 Brand A
Module Technology Cd Te Crystalline
Nominal Power (Pmax) 117.5 310
Module in series ( Nos ) 11 19
Ocupation Ratio( %) 55.2 55.2
Spectral Gain 3.70% NA
First Year P50 Energy Yield(MWh) 69311 63328
Specific Yield(MWh/MWp) 1732.78 1583.20
PR (%) 84.48 77.19
AC PLF (%) 23.27 21.26
DC PLF (%) 19.78 18.07
Energy Gain with FS module wrt
Crystalline (%)9.45%
DC Capacity(MWp) 40
Annual GHI (kWh/m2) 1971
Annual GII (kWh/m2) @14 degree
tilt
2051.1
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• Power Plant built with First Solar technology have superior performance compared to Si
First Solar Energy Yield Is Substantially Advantaged In India
City State CdTe CF x-Si CF Advantage
Kadiri Andhra Pradesh 23.5 21.7 8.3%
Ramanathapuram Tamil Nadu 23.5 21.2 10.8%
Jalaun Uttar Pradesh 22.7 20.8 9.1%
West Kallada Kerala 22.5 20.4 10.3%
Kutch Gujarat 25.1 23 9.1%
Lambi Punjab 22.9 20.9 9.6%
Neemuch Madhya Pradesh 25 23.2 7.8%
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CUF Of Different Technologies & FS Energy Advantage Over Csi-Gujarat-2013-15
• Each Plant capacity is 5MW and SMA800CP Inverter are Installed
• Located at Gujarat at Village : Ghespur, Ta. Jafrabad, Dist. Amreli, Gujarat INDIA
• FSLR 5MW plant Commissioned – 25/05/2012
• CSi 5MW Plant Commissioned - 23/12/2012
0.00
200.00
400.00
600.00
800.00
1000.00
1200.00
1400.00
1600.00
1800.00
2000.00
15.00%
15.80%
16.60%
17.40%
18.20%
19.00%
19.80%
20.60%
21.40%
22.20%
23.00%
2013 2014 2015 Total(MWh)
En
erg
y A
dva
nta
ge
(MW
h)
CU
F(%
)
2013-15- FSLR Vs CSi
Sunkon Energy Pvt. Ltd(Guj)-2013-15
FSLR Energy Advantage FSLR_CUF Csi_CUF
6.93% 7.91% 8.19%
7.67%
First Solar Modules Bankability
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• Strongest balance sheet and cash position amongst all solar competitors
• Unparalleled use of First Solar modules in debt financed projects around the world
• Financial institutions worldwide support First Solar technology
FIRST SOLAR PROJECT FINANCE
First Solar is BANKABLE
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CONCLUSIONS
Energy advantage of 7-9% as compared to P-Si
Over 13.5GW installed worldwide and a 2.8GW contracted pipeline
Strongest financial stability and bankability in the industry
Reliability and long term testing much beyond IEC requirements
Best in class in house testing facilities.
Best in class R&D facility and module efficiency at par with P-Si