Bifacial PERC Better LCOE Solution Hongbin Fang Director of Product Marketing Denver, September 10, 2018
Mono PERC and Bifacial PERC Electrode ARC SiNx N + emitter PERC Rear passivation Rear AIBSF Electrode ARC SiNx P-type Si N + emitter Bifacial PERC Rear passivation Al fingers
Bifacial Technology Mono-facial to Bifacial power generation LONGi Solar Bifacial PERC Hi-MO2 cell and module bifaciality >75% Significant increase on energy yield Double glass lamination, 30 year power degradation warranty
Product Feature Conventional PERC cell structure Bifacial PERC cell structure Performance and cost Front side efficiency equivalent to conventional PERC Manufacturing cost comparable to conventional PERC Bifacial light harvesting, 8%-25% power gain from rear side Application Utility Commercial rooftop and carport
Module Power Degradation Warranty WARRANTY 10Y MATERIAL& CRAFTWORK 10Y POWER-OUTPUT >93.95% 30Y POWER-OUTPUT >84.95%
Optimize System Design to Improve Bifacial Energy Yield
Backside Energy Yield Mono facial module Bifacial module Direct sunlight Direct sunlight + Reflection + Scattered light
System Design with Bifacial Module
Backside Energy Yield: Albedo Bifacial gain improves with increasing ground Albedo
Backside Energy Yield: Albedo and Height Bifacial module backside energy yield improves with increasing Albedo (background reflectivity). Selecting site with more reflective background can improve overall system energy yield Increasing module height improves backside energy yield, as well as backside irradiance uniformity Module height (clearance from ground) of 1m and above is recommended Irradiance at backside - Clearance 8 cm Irradiance at backside - Clearance 108 cm
Daily energy yield (kwh/kw) Bifacial PERC Module Field Monitoring Data 5 Daily energy yield (kwh/kw) Energy yield gain 20.10% 23.70% 25% 20% 4 13.5% 15% 3 10% 5% 2 Multi Bifacial/TPO/1m Bifacial/TPO/1.5m Bifacial/TPO/2m 0% Data from Taizhou test site (N32.5 / E119.9 ) Bifacial PERC Capacity 2.8kw, multi capacity 2.7kw, project located in Taizhou test site (N32.5 / E119.9 ), China Fixed tilt configuration With same background condition, increasing backside energy yield with increasing racking height
Energy yield(kwh/wp) Bifacial PERC Module Field Monitoring Data 14 Bifacial PERC Std Mono Gain (%) 14% 12 12% 10 10% 8 6 +11.27% 8% 6% 4 4% 2 2% 0 0% Bifacial PERC Capacity 18.9kw, std. mono capacity 18.25kw, project located in Pucheng, Shaanxi (N34.97 /E109.59 ), China Fixed tilt configuration (15 degree), distance to ground 1.6m Three month monitoring data showed 11.27% energy yield from backside
Bifacial PERC Module Field Monitoring Data Kubuqi Bifacial Field Data +15.9% Bifacial PERC project (336kw on single axis tracker) in Kubuchi, Inner Mongolia (N45.36 /E118.36 ), China 1Yr energy yield by Bifacial module + tracker is 26.7% higher than Multi module/fixed tilt and 15.9% higher than Multi/tracker
Annual energy yield (kwh/kw) Higher Energy Yield with PERC and Bifacial PERC 2000 10-15% imprv t 1900 1800 10-15% imprv t 1700 1600 2-4% imprv t 1500 1400 1300 1200 Multi Mono PERC Tracker+Mono PERC Tracker+Bifacial PERC
PERC Efficiency Improvement Potential 2017.10 2017.11 2017.12 2018.01 2018.04 Cell Efficiency Cell Efficiency Module Power 23.60% Dec. 2017 23.68% Dec. 2017 360.3W (Half-cut) Apr. 2018 22.71% 22.41% 82.15% ( Bifaciality ) 333.7W / 20.41% Jan. 2018 PERC Cell Bifacial PERC Cell PERC Module
Bifacial PERC Technology Roadmap 395 400 405 375 385 375 390 380 395 385 365 2018 2019 2020 2021 Bifacial PERC_Full cell Bifacial PERC_Half cell Bifacial PERC_Shingling
Technology Strength Through Consistent R&D Investment $379 M 6.80% 6.90% 6.77% 8% 7% 2012-2017 accumulated 4.90% 5% 4.90% 6% R&D spending 176 5% 4% 5-7%(of revenue) 260 patents awarded 86.6 R&D investment per year 39.1 46 24 12.9 2012 2013 2014 2015 2016 2017 3% 2% 1% 0% 460 staff member R&D ($M) % of revenue
LONGi Solar: Dedicated in Mono 18 years Ningxia 1000T mono ingot fab completed; LONGi enters PV materials business Delivered 1GW mono wafer; Became the largest mono wafer supplier globally Ingot / Wafer 28GW Module 12GW Feb. 2000 Apr. 2012 Nov. 2014 2020 Sept. 2007 Oct. 2013 2018 LONGi founded IPO on Shanghai Stock Exchange LERRI acquired; expanding into solar cell/module business Ingot / Wafer 45GW
Diamond Wire Slicing Technology $3B Annual savings using DWS technology
Wafer Cost Reduction $0.16/pcs Non-Si mono wafer cost by 2020
Largest Mono Wafer and Module Manufacturer Global market share by LONGi 35% 16% Mono Wafer Mono Module
Strong Financial Performance Total assets (Million USD) 3,047 5,226 Market Cap ~US$7B as of 6/30/2018 Net Profit (Million USD) Gross Profit (Million USD) 459 567 840 992 1,623 96 46 80 186 224 2014 2015 2016 2017 Revenue (Million USD) +72% 2017 +130% 2014 2015 2016 2017 Debt Ratio 1,833 2,602 +42% 57% 50.0% 44.6% 47.4% 56.7% 566 945 2014 2015 2016 2017 2014 2015 2016 2017
Financial Health Financial Health No. 1 among all PV Manufacturers 2 1.5 1.6 1.4 1 ST Quartile 2 nd Quartile 3 rd Quartile 4 th Quartile 1.1 Strong financial performance recognized by industry: Financial health No.1 Profitability and cost leadership top 3 Overall score top 5 1 0.5 0-0.5-1 0.8 0.7 0.6 0.6 0.5 0.3 0.2 0.2 0.1 0-0.2-0.4-0.5-0.5-0.6-1.5-1.4-2 Major PV module manufacturers PHOTON Consulting, LLC PV Triathlon Report in Nov, 2017
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