Technology Day 2017 30 November 2017, held at Meyer Burger (Germany) AG, Hohenstein-Ernstthal Dr Hans Brändle, Chief Executive Officer
Meyer Burger on track with strong order momentum MB PERC new industry standard Incoming orders comparison with YTD Jan Oct 2017 MCHF 600 500 400 300 200 100 0 326 419 456 +26% Oct 16 / Oct 17 comparison 503 FY 2014 FY 2015 FY 2016 YTD Oct 2017 Comparable YTD data Jan - Oct of each year Long-term PV industry growth intact Cumulative end-installed capacity to grow further with up to 25% p.a. until 2021 End-installed capacity could reach nearly 1 TW (1,000 GW) by 2021 vs. about 306 GW in 2016 For 2017 addition of around 100 GW possible Source: SolarPower Europe Global Market Outlook 2017-2021 Positive market momentum ongoing Good pipeline of customer projects for upgrades and new capacity additions Chinese Top Runner Program drives upgrade to PERC PERC will be the new industry standard PERC adaption much faster than predicted and therefore accelerating plans of leaders to earlier go for advanced cell technologies such as HJT 2 Meyer Burger Technology Ltd, Technology Day 30 November 2017
The Who is Who of the PV industry: Selected list of order wins / sales in 2017 3 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Industrial leaders are successful with MB PERC (1/2) 325.6 W! LONGi Solar s 60 cell Hi-MO1 Module demonstrated another power record LONGi Solar received a test report from TUV Rheinland that its latest 60-cell Hi-MO1 module achieved power output of 325.6 W under standard testing conditions. Conversion efficiency reached 19.91%. Source: LONGi Solar press release August 2, 2017 LONGi Solar s PERC cell conversion efficiency achieves 22.43% Test report released by National Center of Supervision and Inspection on Solar Photovoltaic Product Quality shows that conversion efficiency of LONGi Solar s monocrystalline PERC single-sided cell reached 22.43% at the highest level. Source: LONGi Solar press release September 18, 2017 Picture source: LONGi Solar A customer success story enabled by Meyer Burger s MB PERC technology. 4 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Industrial leaders are successful with MB PERC (2/2) REC achieves milestone efficiency for multicrystalline solar cells A batch of cells processed in the production line delivered an average cell efficiency of 20.21% with the best cell at 20.47% measured by in-house tester with an external calibration cell. Source: REC press release October 5, 2016 Picture source: REC production facility in Tuas, Singapore Various Tier-1 manufacturers use SiNA / MAiA tools to outperform other cell and module makers in solar and module efficiencies. 5 Meyer Burger Technology Ltd, Technology Day 30 November 2017
A long way from first idea to industrialisation MB PERC as a typical example Pick-up in demand mainly supported by needs to upgrade with PERC Further increase in orders during 2017; PERC demand expected to continue based on further upgrades; other technologies / systems such as ALD in test / qualification phase First concept for PERC cell design by Prof Martin Green, UNSW, Australia Industrialisation phase for MB PERC technology First orders for PERC received by MB New product launches: MAiA EVO increasing cell efficiency and reducing handling Further product launches already in planning 1993 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Orders received for MB PERC equipment (MAiA ); capacity in GW GW 30 25 20 15 10 5 0 Incoming orders for MAiA 2.1 equipment Jan Oct 2017 substantially above previous years 2 2 9 7 7 2013/2014 2015 2016 2017 Jan-Oct Source: Meyer Burger Technology Ltd YTD Cumulated 16 13 30 70% of incoming orders in PV equipment in 2017 from cell technologies (Jan Oct 2017) Momentum for MB PERC to continue ALD technology: Asian players push hard to get stake in PERC equipment business Next generation solution MAiA EVO well suited for expansion projects; first equipment in production at launch customer by Dec 2017 Launch of MAiA next generation with further improved customer value planned in 2018 6 Meyer Burger Technology Ltd, Technology Day 30 November 2017
LONGi as launch customer for MAiA EVO The MAiA 2.1 success Simple upgrade of existing standard lines with excellent balance between investment and efficiency increase Upgrades of all existing standard lines (multi- and mono-crystalline wafers) possible Standard Module (60 cells): +15 Watt (Wp) power gain The MAiA EVO solution Ideal for expansion projects; high interest from top tier players Combines the advantages of SiNA (front side SiN deposition) and MAiA (rear side AIOx + SiN deposition) into one product Integration of front & rear side deposition reduces wafer handling: less breakage and higher yield Leads to efficiency gain of up to 0.2% absolute (up to +5 Watt per module) LONGi as launch customer for MAiA EVO; ramp up on track; final acceptance expected for Dec 17 7 Meyer Burger Technology Ltd, Technology Day 30 November 2017
PERC/PERL/PERT and HJT technologies with strong growth PERC and HJT gaining market share Meyer Burger expects that BSF will be replaced at a faster pace with PERC becoming the new industrial standard Si-tandem IBC HJT International Technology Roadmap for Photovoltaic (ITRPV) Sept 2017: share of HJT corresponding to ~15 GW in 2021 PERC Due to expected faster adaption of PERC: additional push for PERT and HJT technologies BSF Source: International Technology Roadmap for Photovoltaic (ITRPV), Sept 2017 8 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Long history for HJT: Meyer Burger industrialises cost competitive 6 technology Meyer Burger (Germany) has been involved since 2008 with 6 wafer technology Development Phase First Mover Industrialisation Phase Ag (screen print) ITO n-type c-si a-si:h (n) a-si:h (i) ITO a-si:h (i) Ag (screen print) a-si:h (p) 1954 1964 1978 1981 1991-1994 Bell Labs, US: First c-si solar cell, n-type, IBC, monofacial, 6% efficiency RCA Labs, US: Theory of HJT cells, S.S. Perleman a-si thin film deposition PECVD development starts Sanyo, JP: First HJT solar cell, 5 wafer technology Sanyo, JP: a-si solar cell and its manufacturing patented 2001 2004 2006-2009 2008 2009 Sanyo, JP: 1st HJT module on market, n-type, 5 wafer technology Oerlikon Solar, CH: first large area a-si production equip. (on glass) EPFL/CSEM, CH: Prof. Ballif Thesis on HJT cells Meyer Burger (formerly Roth&Rau): R&D center for HJT, Neuchâtel, CH CEA/INES, FR: Lab-Fab for HJT 2009 2012 2013 2016 2017 Panasonic, JP: acquires Sanyo Panasonic, JP: champion cell 24% HJT cell, 5 wafer technology Meyer Burger: production line in Hohenstein-Ernstthal, DE Kaneka, JP: world record for single junction: 26.6%, IBC-HJT cell, 6 wafer technology Meyer Burger: record 335 Watt module (60 cells) based on industrialised 6 (M2) HJT technology 9 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Adjustment of strategy opened new opportunities Meyer Burger HJT production line Silicon cost still overall largest cost driver in today s PV module manufacturing From 180 µm to 120 µm wafer thickness: substantial cost savings Meyer Burger successfully demonstrated processing of 120 µm wafers from ingot to module HJT cell technology uniquely positioned for thin wafer processing Adjusted strategy opened new opportunities Meyer Burger adjusted its market approach for Heterojunction (HJT) at the beginning of 2017 Flexible offering: HJT core equipment and integrated production line Adjustment of market approach attracts both established players as well as industry newcomers HJT facts today Meyer Burger HJT production line achieves cell efficiencies of 24% Meyer Burgers HJT technology cost competitive with PERC Proven thin wafer processing capabilities as strong USP for the full potential of Meyer Burger s HJT technology 10 Meyer Burger Technology Ltd, Technology Day 30 November 2017
3SUN order as an important milestone Capacity in MW Companies Countries Projects 400 MW delivered Japan Russia France Order received at year-end 2013; equipment for HJT cell coating delivered in H1 2014 Order received summer 2016 to convert Oerlikon Solar equipment into HJT / SWCT technology; successful final acceptance in H1 2017 Research institute CEA (and Institute of Laboratories for Innovation in New Energy Technologies and Nanomaterials LITEN) Systems for HJT / SWCT technologies delivered 2016/17 Strategic partnership with CEA / INES since 2014 100 MW Hungary Contract signed May 2015 Equipment pre-paid, manufactured and delivered Project delays due to governmental requirements, higher financing needs Expected installation in 2018 200 MW Italy Pre-payment received Successful kick-off with customer in Sicilia Delivery of equipment planned to be completed by end H1 2018 Installation, ramp-up with start of production by end of 2018 Further contract signed December 2016 with EKORE, Turkey. No pre-payment received so far, order not reflected in incoming orders or order backlog as communicated. Project realisation (200 MW) questionable. 11 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Customer story MB HJT 3SUN, Catania / Italy Currently producing thin film modules; delivered over 500 MW of installed PV capacity A subsidiary of Our solution Industrialised MB HELiA platform (HJT) for the production of bifacial HJT solar cells Replacing the existing cell technology (thin film) used by 3SUN Two HJT solar cell production lines will enable production capacity of up to 200 MW Why Meyer Burger was chosen Proven industrialisation Most competitive cost of ownership R&D power Picture source: 3SUN, IT-Catania Meyer Burger is building on the future success of HJT 12 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Meyer Burger has strong R&D focus on HJT (1) CSEM / R&D Neuchâtel R&D Hohenstein-Ernstthal HJT production line CEA / INES Combined R&D power 13 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Meyer Burger has strong R&D focus on HJT (2) CSEM / Meyer Burger Research, CH-Neuchâtel 14 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Meyer Burger has strong R&D focus on HJT (3) Research & Development, DE-Hohenstein-Ernstthal 15 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Meyer Burger has strong R&D focus on HJT (4) Heterojunction production line, DE-Hohenstein-Ernstthal 16 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Meyer Burger has strong R&D focus on HJT (5) CEA / INES Fab-lab, F-Le bourget du lac 17 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Meyer Burger technologies shaping the PV industry Dr Gunter Erfurt, Chief Technology Officer
Brief introduction to solar cell physics A solar cell is a semiconductor device which allows the photovoltaic effect (1) for the generation of an electrical current generation (4) used for an electrical load and later recombination (5) suffering from recombination (2) of unused charge carriers in the material and at the cell surfaces with a semi-permeable membrane (p/n junction) (3) to generate a plus/minus polarity Source: Solar Energy Fundamentals, Physics and Systems, Delft University of Technology 2014 19 Si Si Meyer Burger Technology Ltd, Technology Day 30 November 2017 Semiconductors for industrial use, such as Silicon for solar cells, are on purpose contaminated (doped) in order to make them a bit more semiconductive can be contaminated (doped) with Phosporous to generate negative (n-type or electron charges) carriers or with Boron to generate positive (p-type or hole charges) in PV are currently dominated by p-type contaminated c-si with p- and n-type contaminations have pro s and con s, however with n-type are about to take off as high efficiency concepts such as heterojunction require it
Photovoltaic cell technologies driving growth in solar energy industry Standard solar cell ca. 2/3 market share p-type c-si Meyer Burger has shaped the industry since early 2000 by Supplying >500 SiNA tools (since 2005) to the market generating so called anti-reflection coating (ARC) layers Setting an industry standard in ARC technology Reducing optical and recombination losses and increasing efficiencies up to 19.5% Source: ISFH Meyer Burger has resolved a solar technology node problem in 2014 by Providing an industrialised solution for PERC solar cells (PERC = Passivated emitter and rear cell ) with MAiA Setting another industry standard in passivation technology enabling efficiencies up to 22% PERC solar cell ca. 1/3 market share Source: ISFH p-type c-si 20 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Passivation as key factor for highest solar cell efficiencies Standard solar cell p-type c-si p-type c-si PERC ARC (SiNA ) AlOx+SiNx (MAiA ) Local contacts Passivation technology is a key competence of Meyer Burger At the silicon surface silicon atoms are missing and unpaired valence electrons exist, forming an electrically active interface = no passivation and high recombination ARC (SiNA ) Oxidation and hydrogenation saturates dangling bonds at silicon wafer surface = high passivation and low recombination p-type c-si p-type c-si AlOx+SiNx (MAiA ) Dangling Si bonds Local contacts Source: http://www.cleantechnica.com, http://www.pveducation.org 21 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Meyer Burger solar cell equipment strategy and success history Al-BSF >500 SiNA systems sold ~100 GW of solar cells coated with SiNA 2006 PERC MAiA is industry standard ~30 GW capacity 2011 HJT 25 MW production line in Germany ~500 MW installed globally From 2008 onwards: Heterojunction Technology Invest 22 Meyer Burger Technology Ltd, Technology Day 30 November 2017 2015
Introduction to the structure of solar module manufacturing step costs (MSC) MMMMMM MMMMMMMMMMMM $ WW WWWWWWWWWW CCCCCCCC (ww/oo wwwwwwwwww) [$] pppp = CCCCCCCC [$] pppp + CCCCCCCC CCCCCCCC pppppppppp [WW] CCCCCCCC pppppppppp [WW] + CCCCCCCCMMMMMMMMMMMM (ww/oo cccccccc) [$] pppp MMMMMMMMMMMM pppppppppp [WW] 19.5% cell and 280W standard module $0.73/pc (mono) $0.42/pc (Standard) $38.00/pc $0.15/W (mono) $0.09/W (Standard) $0.14/W MSC = $0.38/W ASP = $0.35/W 23 Meyer Burger Technology Ltd, Technology Day 30 November 2017
MAiA 2.1 sets PERC standard: MB PERC as technology of choice Standard BSF Cell Line Compatible with existing cell technologies Simple upgrade of existing standard lines: excellent balance between investment and efficiency increase Upgrade of all existing standard lines possible (multi- and mono-crystalline wafers) MB PERC Key Facts MB PERC Cell Line MAiA Laser 24 Meyer Burger Technology Ltd, Technology Day 30 November 2017 Industrialised solution with >200 MAiA 2.1 orders received (~30 GW) Industrial standard: proven and well accepted Pay back time <1-2 years due to incremental investment Substantial efficiency gain: up to 2.5% absolute cell efficiency for mono c-si + 1.5% absolute for multi c-si Standard Module (60 cells): +15 Watt (W P ) power gain Substantial cost reduction (>3$ct/Wp) at module level as well as higher ASP through higher performance of module
How to create value and reduce step cost through technology PERC introduction with MAiA 21.5% cell and 310W best module $0.73/pc (mono) $0.47/pc (Standard) $38.00/pc $0.13/W (mono) $0.09/W (Standard) $0.12/W MSC = $0.34/W (Premium) ASP = $0.40/W 25 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Combining proven SiNA and MAiA in new product MAiA EVO Texture Doping / Diffusion Edge Isolation SiNA Front side SiN deposition by MAiA by SiNA PSG Etch Backside passivation ARC or by MAiA EVO Laser opening Print Rear Side MAiA 2.1 2-in-1 Rear side AIOx + SiN deposition Print Front Side Firing Test & Sort 26 Meyer Burger Technology Ltd, Technology Day 30 November 2017 MAiA EVO 3-in-1 Front side SiN + Rear side AIOx + SiN deposition
Why does the industry only achieve 21.5% cell efficiency in mass production when the limit is at 29%? Thermodynamical limit of 29% efficiency (single junction Silicon solar cell) Optical (-2%) Ohmic resistance (-2.5%) Recombination (-3%) Solar cell efficiency loss mechanisms Optical losses (Reflection of incident light) -2% Improved by using our SiNA and HELiA products Resistance losses -2.5% Improved by using SmartWireConnectionTechnology (SWCT) and HELiA Recombination losses -3% Improved by using MAiA or HELiA passivation products Meyer Burger resolving the biggest loss problems of solar cells and modules with our technologies 27 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Meyer Burger is technologically best positioned with its MAiA to further reduce recombination losses for higher efficiencies Advanced PERx solar cell Meyer Burger has future potential to expand its MAiA applications evolutionarily Providing advanced optical layers to improve passivation and optical losses on front side of solar cells Tunnel oxides and passivated contact for back side of solar cell Setting another industry standard in passivation technology Enabling efficiencies up to 24% until ca. 2022 Source: SERIS, Meyer Burger 28 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Meyer Burger driving PERx power roadmap evolutionarily using MAiA Cell Efficiency (%) 24 23.5 23 22.5 22 21.5 2. Bifacial p-perx AlOx/Sin Passivation for bifacial PERC and PERx bifacial PERC/T with SWCT smart wire connecting technology 1. PERC optimization MAiA EVO 3. Bifacial n-type PERx Improved front and back side passivation with oxides 4. Passivated Contacts Improved front and back side passivation Reduced contact passivation through passivated contact structure 21 20.5 Al-BSF 20 PERC n-perx 19.5 n-perx (passivated contacts) 19 Year 2014 2015 2016 2017 2018 2019 2020 2021 MAiA = Multi Application Inline Apparatus highly flexible concept 29 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Only 6 process steps for HJT compared to 12 for advanced PERx HJT benefits Advanced PERx process Boron diffusion HJT process Texture Less footprint and OPEX/PEX due to fewer process steps compared to PERx Efficiency potential up to 25% with 23% today Suited for thin wafers Bifacial cell with highest backside efficiency BSG etch Texture Phosphor diffusion Edge isolation PSG etch a-si front/rear side TCO front/rear side Print front/rear side Curing Highest energy yields Advanced PERx hurdles for mass production ARC Backside passivation Laser opening Print front/rear side Ag (screen print) Test & sort ITO Higher number of process steps Yield affected by additional steps Advanced processes still under development Firing Test & sort ITO n-type c-si Ag (screen print) a-si:h (n) a-si:h (i) a-si:h (i) a-si:h (p) 30 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Technology evolution is good but can Meyer Burger start a revolution? Meyer Burger HJT/SWCT modules installation in UAE Revolutionary HJT approach reduces levelised cost of electricity (LCOE) Because of higher efficiencies than standard (evolutionary) technologies resulting in higher module powers Up to 20% higher energy yields due to lower temperature coefficient and superior bifaciality UAE: normalised monthly yields 01/2017 to 10/2017 60 cell modules: top modules compared 135% 130% Meyer Burger HJT/SWCT bifacial PERT bifacial 100% Reference = PERC monofacial Watt (W p ) 400 384W P 388W P MB HJT (bifacial) 125% 120% 115% 350 300 330W P 335W P MB HJT (white BS) PERC 110% 105% 100% 31 Meyer Burger Technology Ltd, Technology Day 30 November 2017 250 2015 2016 2017 2018 Mono PERC 5BB (average from several tier 1 suppliers) MB HJT - SWCT - white backsheet MB HJT - SWCT - bifacial (20% albedo) Source: Solar Intelligence, MB HJT / SWCT Meyer Burger
Heterojunction a must be loved technology for solar energy investors LCOE $ kwh = nn tt=1 nn tt=1 II tt + MM tt 1 + rr tt EE tt 1 + rr tt I [$]= Investment incl. financing M [$]= OPEX/Maintenance E [kwh] = Electricity generation r = Discount rate n [years] = Life of system t [year]= Year of use 100 98 96 94 92 LCOE comparison [%] -9% Ag (screen print) ITO n-type c-si Ag (screen print) ITO a-si:h (n) a-si:h (i) a-si:h (i) a-si:h (p) 90 HJT PERC HJT LCOE lower than standard technology Enabling LCOE below $0.04/kWh Perfect choice for green field capacity expansions Efficiency potential up to 25% until 2020 Use of thin wafers possible 32 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Meyer Burger achieved a new record cell efficiency and module power 24.02% highest cell efficiency 23.7% average efficiency 335W Module power (mono facial) Meyer Burger achievements >24% cell efficiency (Fraunhofer ISE based calibration) Module power of 335W (TÜV Rheinland confirmed) Proof of high power capability Industrialised process sequence and equipment Fast implementation and ramp up Small footprint with less process steps compared to standard technology 33 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Photovoltaic module technologies driving growth in the solar energy industry Standard busbar module 4/5 market share Meyer Burger solving another solar technology node problem with SWCT Further reducing resistance losses in the cell and the module Perfectly matching HJT solar cells with the module Enabling highest module efficiencies and powers as well as highest energy yields Highest throughput (up to 5,000 wph) Meyer Burger has shaped the industry since 2008 by Supplying busbar stringer tools to the market enabling highly efficient and productive soldering of solar cells Setting an industry standard in busbar technology Upgraded existing busbar stringer fleet from 3 busbar to 5 busbar to reduce resistance losses in the cell and the module SWCT module 34 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Meyer Burger with 2-path technology strategy driving power evolutionary and revolutionary Existing capacities (evolutionary) New capacities (revolutionary) Differentiation of customer needs PERx 20..24% >300W HJT 22..25% >320W Right cell technology with ideal cost structure SWCT SWCT Module technology for both cell concepts Proven MAiA multiapplication platform Cell efficiency of 23% today available 35 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Meyer Burger technology radar keeping new trends in sight Thinner wafers/kerfless Passivated contacts (PERx) Black silicon/nano structures Multiwire interconnection Perovskite tandem cells III-V (on Si) tandem cells Shingling module technology Meyer Burger working with strong R&D institutes (CEA, CSEM, SERIS, Fraunhofer ISE, ISFH, UNSW, etc.) on future technologies for our customers PERx technology solutions becoming available as market requires HJT already available with solar cell efficiencies of 23% 3 rd generation solar cell technologies under evaluation for efficiencies >25% SWCT multi-wire technology in the focus 36 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Research and Development A team of almost 300 technical experts in our R&D centres worldwide strives to shape the industrial processes of the future. Over 380 registered patents and more than 440 patents pending underline our innovativeness and our goal to create sustainable added-value for our customers. Meyer Burger invested 10% of its net sales in R&D in 2016. 46,7 MCHF 37 Meyer Burger Technology Ltd, Technology Day 30 November 2017 Source: MB Annual Report 2016
Bifacial modules and SmartWire Connection Technology (SWCT) Dr Gunter Erfurt, Chief Technology Officer
335W Champion Module another milestone for Meyer Burger 335W Module power (mono facial) 39 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Brief introduction to solar module technology Standard module Glass-Backsheet A solar module is a lamination of Protecting front glass Embedding front and back foils Interconnected solar cells Back-sheet or back-glass Aluminium frame Junction box Power of a solar module Currently at 295W on average (60 cell PERC) Increasing 5-8W per year Relying on the front side efficiency Trend towards bifacial power generation Must be stable over the life span of the products Yield kwh per kw per year is important Watt Module Power 60 cell glass-backsheet 40 Meyer Burger Technology Ltd, Technology Day 30 November 2017 Source: Solar Energy Fundamentals, Physics and Systems, Delft University of Technology 2014, PV Tech 2017
Evolution of cell connection technology??? Cell with 3 Busbars Cell with 5 Busbars Cell with SWCT Towards higher module power output with less silver consumption 41 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Beyond BusBars (BB): SWCT to overcome BB limitations for high power modules «Higher efficiency at lower costs» Boris Rosenstein, Executive President/CEO, SolarTech Universal LLC Most cost effective method of connecting solar cells Employing multiple wires instead of conventional ribbons, SWCT significantly enhances module performance SWCT Key Facts SWCT module production line 3% relative module output vs. standard modules > 10 years increased module lifetime stability + 10% BoS cost advantage with SWCT / HJT Up to 65% less silver consumption with combination MB PERC / SWCT Up to 80% reduction silver consumption using combination of HJT / SWCT 42 Meyer Burger Technology Ltd, Technology Day 30 November 2017
SmartWire Connection Technology (SWCT) Innovative and patented Foil- Wire Electrode Concept Multiple wires are used instead of conventional cell connectors (tab ribbons) Compatible with HJT, PERC, PERT, thin wafer and bifacial cells $/kwh Higher module power Less silver in cell production Higher energy yield Better tolerance to micro cracks 43 Meyer Burger Technology Ltd, Technology Day 30 November 2017
High performance cell interconnection SmartWire String Linking cells by foil wire electrode (FWE) Cells and FWE are only attached together reducing stress on cells due to high temperature soldering Flux-free & lead-free soldering No negative impact of micro cracks on module performance 44 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Fewer process steps for SWCT Busbar Module Production SWCT Module Production SWCT Core Equipment Glass preparation Foil cutting and layup Cell connection Cell matrix layup Interconnection Foil cutting and layup Encapsulation Glass preparation Foil/Wire Assembly Cell connection Matrix layup Encapsulation Final assembly Testing Roll to Roll Unit (RRU) Cell Connection Station (CCS) Final assembly Testing Less production stations Higher automation level 45 Meyer Burger Technology Ltd, Technology Day 30 November 2017
The ideal module should have: 1) Very high efficiency (sun to electricity) 2) Collection of energy bifacially 3) High performance at any temperature 4) Stable performance 5) Very stable to wind, snow and hail 6) Low cost = lowest LCOE 46 Meyer Burger Technology Ltd, Technology Day 30 November 2017
High efficiency less area lower installation costs Example for Sunbelt: 1,600 kwh/m 2, 50 C Standard PV System Example: 34,000 m 2 Savings of 22% or 7,500 m 2 MB HJT PV System Example: 26,500 m 2 Picture: google earth 1.8 MW PV system with standard modules 7,500 modules (240 Wp) Total cost of 1,134 USD/kWp (*) 2,100,000 kwh/a (*) Typical worldwide market price for standard module, w/o financing costs or land costs. 1.8 MW PV system with HJT modules 5,790 modules (311 Wp) Total cost of 1,098 USD/kWp (**) 2,250,000 or 2,550,000 kwh/a (**) HJT modules produced with margin (Cost of Ownership based on Meyer Burger assumption), w/o financing costs or land costs. 47 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Bifaciality Bifacial modules Use the energy harvest from the 2 faces (back and front side) of the module Can be faced in south or east/west direction or combined Yields depend on background of the installation affecting the overall albedo back reflection Optimize the LCOE 48 Meyer Burger Technology Ltd, Technology Day 30 November 2017 Source: Sciencedirect, Sanyo Cooperation
Proven micro crack tolerance of SWCT Busbar Technology SWCT Technology Image from: ISFH Inactive cell area due to crack Full cell area is active after crack Dense SWCT contact matrix No negative impact of micro cracks Guaranteed electron transport Investment security during entire module lifetime (transport and installation) 49 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Monitoring of Meyer Burger Technology in most important climate zones worldwide Existing site Sunbelt ± 37 DNI map solargis.info MB owned sites, high accuracy: UAE, Abu Dhabi: fixed tilt (8pcs) US, California: 1-axis tracking (8pcs) US, Arizona: fixed tilt (2pcs) US, Arizona: 2-axis tracking (2pcs) China, Yinchuan fixed tilt (8pcs) Reporting MB technology figures: France, institute Chambéry (>20pcs, strings) France, institute Cadarache (>20pcs, strings) Hungary, company (4pcs) Chile, university (6pcs) Brazil, company (36pcs, strings) US, Miami, company (8pcs) Turkey, university (1pcs) Switzerland, university (20pcs, strings) 50 Meyer Burger Technology Ltd, Technology Day 30 November 2017
MB Measurement Site China, Yinchuan CN: normalised monthly yields to monofacial Aug 2017 to Oct 2017 KWh/kWp to reference monofacial Yield to monofacial 160% 150% 140% 130% 120% MB HJT bifacial PERT bifacial Monofacial (100%) 110% 100% Note: Installation August 2017 Aug Sept Oct China, Yinchuan 16% Albedo 51 Meyer Burger Technology Ltd, Technology Day 30 November 2017
MB Measurement Site United Arab Emirates, Abu Dhabi UAE: normalised monthly yields to monofacial Jan 2017 to Oct 2017 Yield to monofacial KWh/kWp to reference monofacial 135% 130% 125% 120% 115% 110% 105% MB HJT bifacial PERT bifacial Monofacial (100%) 100% Jan Feb Mar Apr May Jun Jul Aug Sept Oct UAE, Abu Dhabi 24% Albedo 52 Meyer Burger Technology Ltd, Technology Day 30 November 2017
MB Measurement Sites USA, California and Arizona USA California: normalised monthly yields to monofacial Jan 2017 to Jul 2017 USA Arizona: fixed and 2-axis tracking Jan 2017 to Oct 2017 Yield to monofacial KWh/kWp to reference monofacial 135% 130% 125% 120% 115% 110% 105% MB HJT bifacial PERT bifacial Monofacial (100%) Yield to monofacial 135% 130% 125% 120% 115% 110% 105% MB to monofacial fixed axis MB to monofacial both 2-axis tracking 100% Jan Feb Mar Apr May Jun Jul 100% Jan - Oct Jan - Oct USA, California 10% Albedo 53 Meyer Burger Technology Ltd, Technology Day 30 November 2017
1'800 1'700 1'600 1'500 1'400 1'300 1'200 5.00 4.80 4.60 4.40 4.20 4.00 3.80 3.60 Levelised cost of electricity Energy Yield [kwh/kwp/yr] 1'398 1'398 1'380 1'399 1'594 BSF multi BSF mono PERC multi PERC 22% PERC bif 21,8% 4.80 4.95 LCOE $Cent/kWh 4.80 4.61 4.16 3.40 BSF multi BSF mono PERC multi PERC 22% PERC bif 21,8% Meyer Burger Technology Ltd, Technology Day 30 November 2017 54 Meyer Burger Technology Ltd, Technology Day 30 November 2017 1'787 1'787 HJT 22% HJT 22,5% 135µm Wafer 4.04 3.88 HJT 22% HJT 22,5% 135µm Wafer HJT leads to lowest LCOE Energy generation cost at cheapest level Upside potential due to high efficiency potential Assumptions 1,600 kwh/m 2 yearly irradiation 55 C average module working temperature 1% LID for PERC 20% albedo effect for bifacial modules
ASP expectation HJT vs. PERC bifacial Modules with more kwh/m 2 offer lower LCOE Value of lower LCOE is taken by module manufacturer 1-1.5 ȼ/wp per 5 W power class price premium Bifaciality HJT > 90% Bifaciality PERC < 70% Tc benfit HJT > 4% Much higher ASP for HJT expected for bifacial applications in moderate and hot climate Module power in power plant [W] 430 410 390 370 350 330 310 290 270 250 PERC Offset Power Offset ASP 1ȼ/W / 5W Front power Albedo effect TC benefit HJT Today 2018 2020 Today 2018 2020 15+15+15 = 45W PERC HJT 20+16+15 = 51W PERC HJT 20+16+16 = 52W 9 ȼ/wp 10 ȼ/wp 10 ȼ/wp 55 Meyer Burger Technology Ltd, Technology Day 30 November 2017
Thank you
Disclaimer Information in this presentation may contain forward-looking statements, such as guidance, expectations, plans, intentions or strategies regarding the future. These forward-looking statements are subject to risks and uncertainties. The reader is cautioned that actual future results may differ from those expressed in or implied by the statements, which constitute projections of possible developments. All forward-looking statements included in this presentation are based on data available to Meyer Burger Technology Ltd as of the date that this presentation is released. The company does not undertake any obligation to update any forward-looking statements contained in this presentation as a result of new information, future events or otherwise. This presentation is not being issued in the United States of America and should not be distributed to U.S. persons or publications with a general circulation in the United States. This presentation does not constitute an offer or invitation to subscribe for, exchange or purchase any securities. In addition, the securities of Meyer Burger Technology Ltd have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and may not be offered, sold or delivered within the United States or to U.S. persons absent registration under an applicable exemption from the registration requirements of the Securities Act or any state securities laws. The information contained in this presentation does not constitute an offer of securities to the public in the United Kingdom within the meaning of the Public Offers of Securities Regulations 1995. No prospectus offering securities to the public will be published in the United Kingdom. Persons receiving this presentation in the United Kingdom should not rely on it or act on it in any way. In addition, the presentation is not for release, distribution or publication in or into Australia, Canada or Japan or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction, and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. 57 Meyer Burger Technology Ltd, Technology Day 30 November 2017