Commercial Breakthrough and Bankability of Concentrator Photovoltaics (CPV)
November 14, 2012Henning von Barsewisch
VP Sales & Business Development Solar Energy Business Unit
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CPV Breakthrough
Solar Industry Summit Middle East November 14, 2012
• Soitec Introduction
• CPV Technology and the Middle East
• Bankability and CPV
• Recent CPV news
• Conclusion
Soitec at a glance
Foundation: 1992
Revenue: 450 M$ in 2011-2012
Stock exchange: Euronext since 1999
Headquarter: Bernin, France
Global presence: Present in 17 countries
Employees: >1,500 worldwide
Patent portfolio: 3,600
R&D spending: ~10% of annual revenue
Soitec semiconductor manufacturing site for engineered substrates in France
Solar Industry Summit Middle East
Through acquisition of Concentrix Solar in 2009, Soitec became a supplier of highly efficient Concentrator Photovoltaic (CPV).
Soitec is the world leader in generating and manu-facturing revolutionary
semiconductor materials for electronic and energy
industries.
3November 14, 2012
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Saudi Arabia and Soitec CPV
Solar Industry Summit Middle East November 14, 2012
• Soitec Introduction
• CPV Technology and the Middle East
• Bankability and CPV
• Recent CPV news
• Conclusion
November 14, 2012
Principle of CPV Technology
5Solar Industry Summit Middle East
• CPV is suitable for regions with high Direct Normal Irradiation (DNI).
• Optics concentrate the sunlight onto high efficient solar cells.– Soitec uses Fresnel lenses to
concentrate the sunlight 500 times on triple junction solar cells
• CPV Systems apply dual axis tracking to ensure high performance throughout the day.
30% Soitec CPV Module efficiency
November 14, 2012
MENA climatic challenges (1/2): heat, cleaning
• Heat: – CPV performance is practically
constant even at high ambient temperatures
• Cleaning– With 30% module efficiency,
only half of the module surface compared to PV needs to be cleaned
6Solar Industry Summit Middle East
November 14, 2012
MENA climatic challenges (2/2): sand storms, ageing
• Sand Storms: – Modules from tempered glass (front
and back) are highly scratch resistant
– High ground clearance means less exposure to sand
– Horizontal stow position during storms
• Solar Intensity/ageing: – Modules don’t suffer measurable
degradation over time
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CX0
7-00
013
CX0
7-00
021
CX0
7-00
027
CX0
7-00
043
CX0
7-00
049
CX0
7-00
054
CX0
7-00
092
CX0
7-00
097
CX0
7-00
098
0
5
10
15
20
25
Effi
cien
cy [%
]
10.05.2007 06.2007 06.03.2008 23.04.2009 22.11.2010 24.11.2011
Solar Industry Summit Middle East
November 14, 2012
Different technologies for different applications
Concentrator PV(CPV)
Concentrating Solar Power (CSP)
Thin-Film PVSilicon PV
+ Mainstream technology
+ Building integration
- High heat losses
- Long Energy Payback Time
+ Good capture of diffuse sunlight
+ Relatively low heat losses
- Tracking not viable
- Land use
+ Performance in high DNI regions
+ Very low heat losses
+ Constant high power output
+ Environmental footprint
- Needs high DNI
+ Storage possible
+ Hybrid concepts
- Cost reduction low
- Innovation cycles long
- High Water consumption
- Needs high DNI
8Solar Industry Summit Middle East
November 14, 2012
CPV Market Overview and Analysis
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• CPV sales 2015: 1400MW worldwide
• CPV market will grow at CAGR of 174%
• Installed solar capacity 2020 in the US: 50GW (~50% in CA)
Source: Strategy Analytics 2011
Solar Industry Summit Middle East
November 14, 2012
Solar Resource MENA
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The MENA region has one of the world’s best solar resource
Solar Industry Summit Middle East
Key electricity costs for Saudi Arabia
Generation cost conventional power:
Consumer electricity prices:• For households $10 - 50/MWh• For industry $40 - 70/MWh• For hospitals, schools, agriculture $32/MWh
Solar Industry Summit Middle East 11
Oil Corresponding power price
$5/barrel $ 14/MWh
$50/barrel $ 80/MWh
$100/barrel $ 153/MWh
$150/barrel $ 227/MWh
November 14, 2012
Today’s real price = opportunity
cost
Today’s subsidized price
November 14, 2012 12
Saudi Arabia and Soitec CPV
Solar Industry Summit Middle East
• Soitec Introduction
• CPV Technology and the Middle East
• Bankability and CPV
• Recent CPV news
• Conclusion
November 14, 2012
Bankability is achieved with …
13Solar Industry Summit Middle East
• … strong project returns• … proven technology • … sound track record• … solid vendor standing • … high sponsor strength
November 14, 2012
100 MW in 2012: CPV is bankable
14Solar Industry Summit Middle East
• Approx. 100 MW CPV in 2012 by Suncore (China), Amonix (USA), Soitec (in Italy, China), Solfocus, Isofoton etc.
Source: Strategy Analytics 2011
November 14, 2012
CPV competiveness
Solar Industry Summit Middle East 15
Competitive => satisfactory
returns achieved
Solid Technology: Examples Touwsrivier
Touwsrivier, South Africa
Soitec CPV demonstrates high and consistent Performance Ratios
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week
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week
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week
50
week
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week
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0
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perfo
rman
ce ra
tio [%
]
predicted annual PR
2011 2012
Bankability – September, 2012
Technology proven
Soitec CPV Track Record
17November 14, 2012Solar Industry Summit Middle East
• With installations in ~15 projects since 2007, Soitec has gathered over 100,000 module-years operations
• No degradation measured• Only two field returns (due to mechanical damage)• Typical project availability is >98%
Track record demonstratedTotal Availability: 98.1 %
From: 2008-11To: 2012-07
Puertollano power plantMonthly Availability by Yield [%]
0
20
40
60
80
100
Nov‐08
Dec‐08
Jan‐09
Feb‐09
Mar‐09
Apr‐09
May‐09
Jun‐09
Jul‐0
9Au
g‐09
Sep‐09
Nov‐09
Dec‐09
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0Au
g‐10
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Feb‐11
Mar‐11
Apr‐11
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1Au
g‐11
Sep‐11
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Mar‐12
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Mon
thly availability
by yield [%
]
Despite testing activities an overall availability of 98.1% is reached over 4 years
November 14, 2012
• San Diego factory should employ 450 people, while supporting an additional 1,000 indirect jobs in the region
• Total factory investment funded on Soitec balance sheet
• Ground breaking held in December 2011
• First Module built in September 2012
• Industrial Production Start Q1 2013
Soitec’s future 280 MWp San Diego Factory
Solar Industry Summit Middle East 18
Vendor strength
demonstrated
November 14, 2012 19
Saudi Arabia and Soitec CPV
Solar Industry Summit Middle East
• Soitec Introduction
• CPV Technology and the Middle East
• Bankability and CPV
• Recent CPV news
• Conclusion
November 14, 2012
Milestone 44MWp PPA Touwsrivier
• In November 2012, Soitec signed a Power Purchase Agreement (PPA) covering its soon-to-be-built 44 MWpTouwsrivier power plant
• Based in the Western Cape, the Touwsrivier power plant will ultimately have 44 MWp in capacity
• Construction is scheduled to be completed during 2014, but commercial operation of the first installed systems will begin in mid-2013
Solar Industry Summit Middle East 20
Location: TouwsrivierCapacity: 44 MWp
Installation: 2013/2014
Soitec’s revised warranty conditions
• Based on high quality of manufacturing, the robust module design and the selection of reliable and durable materials Soitec gives a Limited Module Power Output Warranty which provides the customer with a best-in-class protection from long term degradation!
• The Warranted Power Output levels are:– 97% for the first year after delivery– for each further year linear decrease
by 0.4% -> e.g. 96.6% in year two-> and 87.4% in year 25
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Best Power Output Warranty amongst PV and CPV players
Soitec warranty compared to lower level of market standard
Solar Industry Summit Middle East 22
70%
75%
80%
85%
90%
95%
100%
0 5 10 15 20 25
Years
Soitec Solar
Basic PV/TF
November 14, 2012
Soitec warranty compared to Silicon top-tier suppliers
Solar Industry Summit Middle East 23
70%
75%
80%
85%
90%
95%
100%
1 5 10 15 20 25Years
Soitec SolarTop-tier PV (multi)
November 14, 2012
November 14, 2012 24
Saudi Arabia and Soitec CPV
Solar Industry Summit Middle East
• Soitec Introduction
• CPV Technology and the Middle East
• Bankability and CPV
• Recent CPV news
• Conclusion
November 14, 2012
Key conclusions on CPV breakthrough
• Project Returns: attractive in high-DNI regions• Technology: proven and recognized• Track Record: multiple suppliers with numerous projects• Vendor Standing: balance sheet is critical;
on own or through partners• Sponsor Strength: depends on each project
• While the market environment is tough, the CPV industry has seen major breakthroughs in 2012– Largest deployment of CPV with 100 MW new capacity in 2012– Financing of new projects demonstrated– Successful field operations allow to offer better warranties than PV
CPV is proven and bankable
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Shukran!Henning von Barsewisch
VP Sales & Business Development Solar Energy Business Unit
E-mail: [email protected]
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