Gerhard Rauter, COO Q-CELLS SE Leading edge photovoltaic technologies for Europe
Q-CELLS SE Foundation: November 1999 Core business: Si-Solar Cells Start of production: 2001 Production (2007): 389 MW Number of employees (2007): 1707 Domicile: Bitterfeld-Wolfen, Germany 2
EQUITY STORY 1 Strong market growth 2 No. 1 solar cell producer One of the world s leaders in photovoltaic 3 4 Proven growth and profitability track record Portfolio of innovative highly advanced products 5 Leading edge R&D expertise 6 Strong position in additional PV-technologies 3
Q-CELLS AT A GLANCE Company Description Key Figures Specialised in cell technologies Strong operating track record Strong focus on Research and Development Unique portfolio of new technologies Strategy: Growth and cost reduction Production (in MWp) Sales (in EURm) EBIT (in EURm) Net income (in EURm) 2002 2003 2004 2005 2006 2007 9.3 27.7 75.9 165.7 253.1 389.2 17.3 48.8 128.7 299.4 539.5 858.9 0.9 5.3 19.6 63.2 129.4 197.0 0.2 3.0 12.0 39.9 87.7* 148.4 Employees 82 207 484 767 964 1.707 * Plus one-off income amounting to 9.4 EURm 4
GROUP ORGANISATION Wafer-Based Technology 17.18% Strategic partner Main supplier Technology leader in polycrystalline silicon production String Ribbon technology 33.33% Joint Venture with Evergreen Solar and REC 32% Core Business No. 1 solar cell producer in 2007 Poly- and monocrystalline solar cells Next generation highefficiency cell concepts in development Ingot and wafer production for further cost reduction Thin-Film Business Fixed Substrates (Glass) BRILLIAT 234. 100% Micromorph silicon technology 93% Cadmium telluride technology 67.5% CIGS technology 18.63% Crystalline silicon on glass Flexible Substrates Low-concentration PV technology VHF Technologies 58.11% Amorphous silicon on plastic foil ( flexcell ) Leader in core business with a strong focus on new technologies 5
A SHORT HISTORY OF THE PV INDUSTRY The history of solar cell diffusion 2007 ~2,3GW 6
DEVELOPMENT OF WORLD ENERGY DEMAND Annual energy consumption (EJ/a) 1,600 1,400 1,200 1,000 800 600 400 200 0 2000 2010 2020 2030 2040 2050 2100 Source: German Advisory Council on Global Change, Berlin 2003 Geothermal Other renewables Solar Thermal (Heat) Solar electricity (PV and solar thermal) Wind Biomass (mod.) Biomass (trad.) Hydroelectricity Nuclear Gas Coal Oil 7
GRID PARITY REACHES EUROPE break even limit 8
GRID PARITY REACHES EUROPE 9
GRID PARITY REACHES EUROPE MARKET WILL BE INFINITE 10
A SHORT HISTORY OF THE SOLAR CELL EFFICIENCY 11 source: NREL
EVOLUTION OF SI SOLAR CELL EFFICIENCIES AT Q-CELLS η% 28% Back Contact Next generation Advanced 22% Passivated emitter locally diffused State of the Art 16% Passivated backside incl. point contacts 2010 2020 time 12
COST REDUCTION POTENTIALS 1 60 µm decrease in thickness leads to approx. 10-15% increase in wafer output or 10-15% cost reduction 2 1% increase in cell efficiency leads to approx. 7% cost reduction at all levels of value chain 3 4 Degression of costs with increase of production 5 6 Cell Thickness Production Higher Cell Efficiency Global Footprint Additional production complex in Malaysia Economies of Scale Other (cell production) Increase in throughput, breakage reduction, increasing rate of A-cells, increase in uptimes Inhouse Ingoting & Wafering Cell thickness reduction 330-300 µm 280-270 µm 240-220 µm 200 µm 2003 H2 2004 H2 2005 H1 2006 Q3 2007 H2 In trial/ 2008 Q4 2007 Cell efficiency Potential Production average 2002 (polycr. cells) Typical production range today (polycr. cells) Potential for polycrystalline cells Potential for monocrystalline cells 180 µm 14.3 % 160 µm 15.0 16.6 % (1) 18 % 120 µm In lab. (1) Process and material dependent 21 % Improvements in technology offer significant cost saving potential 13
NEXT INNOVATION: POINT CONTACT CELL Point Contact Cell: Excellent passivation Local contacts Innovative, low cost metallization Significant efficiency increase High potential for efficiency increase > 20% 14
3RD GENERATION CONCEPTS 3rd Generation: Nano technology Multi bandgap Up conversion Down conversion Hot carrier Nano Particles as Absorber Materials or as Conductivity Enhancement Thermodynamic efficiency limit exceeding 80% of which ~41% have been realized with R&D-lab cells 15
INNOVATIVE EQUIPMENT SUPPLIERS INCLUDING PROCESSES NEEDED (e.g. Inkjet Technology, I 2, Litho ) 16
PV MODULE PRODUCTION EXPERIENCE (or Learning Curve) 17 source: NREL
PRODUCTION TECHNOLOGY FOR PHOTOVOLTAICS: HOW WE PROGRESS Joint Development of Technology Roadmap Manufacturers Extend PV-Workinggroups Networking Usage of Renewable Energy Supplier: Automation Optimization life cycle engineering Economic Constraints e.g. Increase of Energy Prices Joint PV-Group Supplyprocess Supplier: Metrology 18
OUTLOOK Silicon usage by sector 2000 2012e PV will be the dominant growth factor of semiconductor industry! source: Photon Consulting, PV Crystalox 19
OUTLOOK Silicon usage by sector 2000 2012e The difference of PV to other mass production commodity markets is: it s only electrical energy for everyone there is potential of growth for the next century PV will be the dominant growth factor of semiconductor industry! source: Photon Consulting, PV Crystalox 20
THANK YOU FOR YOUR ATTENTION! ONE SUN. ONEWORLD. ONE Q. 21