Solar Energy in Armenia

Shtigen 2016

• Who we are

• Our partners

• Our solutions

About Shtigen

Shtigen’s goal is to harness the positive aspects of renewable

energy and transfer its attributes into an energy independent

Armenia for future generations to come.

2009-11: market research

2012-13: residents, small hotels

2014 - Expansion: residents, large hotels (Diana), Ministry of Defense, ACBA bank

2015 - Developments: Ministry of Defence, Writers’ House, Tufenkian, ACBA Leasing, Wind Turbine, PV

Our Path

Projects: Residential

12 installations/Basen village

Gyumri Hrazdan

15 installations/Vanahovit district, Yerevan Davitashen, Yerevan

More details here: http://shtigen.com/en/our-installations

Tsaghkadzor

“Tufenkian” Hotel, Yerevan “Park Avenue” Hotel, Jrvezh, Yerevan

Swimming pool, Vanadzor Ararat, Ministry of Defense “Diana” Hotel, Goris

“Alva” Hotel, Tsaghkadzor

Projects: Commercial

More details here: http://shtigen.com/en/our-installations

Our Partners

Sunrain: Solar Water Heaters 80% of global SWH installations are in China; Sunrain – No1 SWH provider in China Shtigen – Exclusive Rep. for Sunrain in Armenia

Solar water heater installations worldwide, 2007

Sunrain: Solar Water Heaters

Solar HeatingBasics: Hot water always rises to the top: convection; No heat exchange occurs within vacuum.

Vacuum SWH Features

Payback starts from 3 years

Works under frost conditions of -30 Co, not damaged even by direct hit of 3cm of hail

Individual installation, lower operational costs

Compatible with previously installed systems

Thermal Energy for heating systems is possible, but not economically viable, unless there is a increase in summer demand (e.g. swimming pool)

5 year product warranty, 20 year product life span

Leasing: 10.5% in AMD, 10-20% prepayment, 5 years maturity

1 year free system service

Calculation: Why Not Heating?

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20,000

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60,000

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140,000

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Price Estimate

product qty price amount1 SWH panel 300 8300 2 490 0002 Controller 1 130 000 130 0003 Boiler* 1 800 000 800 0004 Circulating pump* 1 80 000 80 0005 Other 06 Expansion tank 1 80 000 80 0007 Total equipment 3 580 0008 Materials 15% 537 0009 Unexpected costs** 5% 179 00010 Labour** 10% 358 00011 Total installation 1 074 00012 Total 4 654 000

13 Total price estimate 4 654 000

Payback calculationsSolar vacuum tubes 300Surface of 1 tube, sq.m 0,080Absorbing surface, sq.m 24,1Annual solar radiation, kWt/h/m2 2 397Avg. annual efficiency% 75%Thermal energy provided, annual, kWt/h 43 338Efficiency of gas boiler 85%Gas price per 1 m3 , AMD 156Heat capacity of 1 m3 of gas, kWt/h 8Equivalent gas cost, AMD/year 994 218Utilized energy 745 305Waste energy 248 913

Simple payback period pf the system, years 6,2

Avg cost Gas cost Useful energyOct 50 000 50 000Nov 130 000 47 821Dec 150 000 36 183Jan 150 000 44 940Feb 150 000 58 883Mar 150 000 80 086Apr 130 000 92 646May 130 000 104 746Jun 50 000 50 000Jul 60 000 60 000Aug 60 000 60 000Sep 60 000 60 000

Avg 105 833 62 109Total 1 270 000 745 305

Solar PowerBasics: Under sunlight the semiconductor generates electricity Electricity is transformed to the grid parameter via inverter Net metering allows to use the grid as a virtual battery by

supplying excess electricity to the grid and receiving it back when necessary. Excess electricity as of December 31 is purchased at 50% of the retail electricity tariff

PV Features• Payback starting from 7 years, in case of Net metering;

• Full energy independence in case of using an air conditioner for home heating (no natural gas cost) during Net metering;

• Installation does not require any changes to the existing grid, installation of а special meter needed only;

• Occupied area: 7-8 sq.m for 1kWh of capacity;

• Individual installation, low operational costs;

• 25-year power warranty and 10-year inverter warranty;

• Possibility of online supervision and optimization of system performance;

• Leasing: annual 10.5% in AMD, 10-20% prepayment, 7 years;

• 1 year free post purchase service.

Thank you!

Shtigen LLCceo@shtigen.com, www.shtigen.comwww.facebook.com/shtigentel. 091 19 28 18, 093 50 61 06