Mailing Address 4650 Adohr Ln. Camarillo, CA Year Financial Analysis. $1,051 / mo (avg) Cost Breakdown. System Description

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1 Summary Customer Dan Glaser - CASSK SolarWorld USA Site Address 4650 Adohr Ln. Camarillo, CA Mailing Address 4650 Adohr Ln. Camarillo, CA Company Contact We turn sunlight into power SolarWorld Americas CA 25 Year Financial Analysis Utility Savings Over Initial Term $315,206 $1,051 / mo (avg) Payback Period Total Life-Cycle Payback (Cash Flow compared to Net Cost) 9-10 years 247% Rate of Return on Cash Invested 10.3% Levelized Cost of Solar Energy $0.076 / kwh Cost Breakdown Installer Contract Cost $237,600 ($4.00/watt DC, $4.59/watt AC) Federal Tax Credit/Tax Impact ($71,280) Net Cost (year of installation) $166,320 ($2.80/watt DC, $3.22/watt AC) MACRS Depreciation ($86,843) CA Performance-Based Incentive (PBI) Step 9 ($14,836) Net Cost (all years) $64,641 ($1.09/watt DC, $1.25/watt AC) Total System Size Estimated Annual Production PV Panel Description Inverters System Description kw DC Power (STC) / kw AC Power (CEC) 94,698 kwh Qty SolarWorld Model: SW270 Mono Qty. 4 - Power-One Model: PVI-10.0-I-OUTD-x-US-480-y-z

2 Energy Analysis Your historical energy usage was used to help size your solar system. Based upon the system size suggested, the expected electricity bill savings over a 25 year period are provided. In addition, the first-year electricity bill savings you can expect are provided together with a chart of the monthly solar system output (PV production) you can expect.

3 Assumptions: Post-Solar Electric Rate Schedule for Southern California Edison (SCE) is General Service - Option B, (3-Phase, 2-50 kv) (Rate Code: GS-2 TOU) Annual utility inflation: 6.70% (assumed). Energy Bill Savings are actual, without any tax effects applied.

4 Energy Bill Estimate The following energy bill estimate is without any tax effects applied. The Energy Bill Savings line does not include the opportunity cost of no longer being able to take energy bill expense deductions on corporate income taxes. See the Energy Bill Savings line in the cash flow for this tax impact. (kwh) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual SCE Usage without Solar 11.7k 20.6k 18.1k 18.7k 19.8k 19.0k 19.3k 19.3k 19.0k 18.7k 20.6k 20.6k 225k Solar Production 5,242 6,222 7,960 8, k 9, k 10.2k 7,900 7,039 5,613 5, k SCE Usage with Solar 6, k 10.1k 9,784 9,710 9,063 8,716 9, k 11.6k 14.9k 15.6k 131k (Cost) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual SCE Bill without Solar* $1,683 $2,600 $2,371 $2,376 $2,273 $3,361 $3,369 $3,369 $3,276 $3,278 $2,389 $2,394 $32.7k SCE Bill with Solar* $1,197 $1,971 $1,673 $1,612 $1,410 $2,207 $2,156 $2,198 $2,321 $2,098 $1,843 $1,907 $22.6k SCE Bill Savings $486 $629 $698 $764 $863 $1,154 $1,213 $1,171 $955 $1,180 $546 $487 $10.1k *Includes utility rate increase of 6.70%

5 Financial Analysis The first chart summarizes the cash flow you can expect from the system quoted. Key financial measures are also provided. Utility Savings Over Initial Term $315,206 Average Monthly Utility Savings Net Cost (In year of installation) Payback Period Financial Summary $1,051 (over system life) $166, years Rate of Return on Cash Invested 10.3% Total Life-Cycle Payback (Cash flow compared to Net Cost) Levelized Cost of Solar Energy (Net Cost / lifetime energy production) 247% $0.076 / kwh

6 Environmental Impact Analysis Your solar system will generate significant environmental benefits. These come primarily from avoided power plant emissions. Below is a summary of environmental benefits your solar system will provide. Your New, Lower Carbon Footprint Your solar system will reduce Green House Gas emissions by 1,622 tons of CO2 (Over 25 years) Equivalent CO2 Reductions Small Car: Medium Car: SUV: Air Miles: Trees Planted: CO2 from Trash & Waste: 5,497,288 miles 2,948,545 miles 2,065,860 miles 3,343,711 miles 64,868 trees planted 2,949 persons

7 Cost Detail & System Description This is a summary of the cost and a description of the solar system we are quoting. Net Cost Detail Major Equipment & Labor PV Panels: Qty SolarWorld, SW270 Mono, 270W Monocrystalline Module $237,600 Inverter: Qty. 4. Power-One, PVI-10.0-I-OUTD-x-US-480-y-z, 10 kw (480Vac) Inverter, x may be S- y either PG or NG z may be 12A $0 Balance of System $0 Labor $0 General & Administrative $0 Adders, Allowances & Sales Tax Gross Cost $237,600 Incentives Received in Year of Installation Federal Investment Tax Credit (30%) ($71,280) Total Incentives: (In year of installation) Net Cost: (In year of installation) ($71,280) $166,320 Contract Cost: $237,600 Other Cash Incentives: (In later years) $14,837 System Description Total System Size: Net Cost per Watt: Estimated Annual Production: kw DC Power (STC) kw (PTC) kw AC Power (CEC Size) $2.80 / Watt DC Power (STC) $3.12 / watt (PTC) $3.22 / watt AC Power (CEC Size) 94,698 kwh Array 1 Proposed Array Sizes (STC): kw Number of PV Panels: 220 PV Panel Description: Inverters: SolarWorld Model: SW270 Mono 270W Monocrystalline Module Qty. 4 Power-One Model: PVI-10.0-I-OUTD-x-US-480-y-z 10 kw (480Vac) Inverter, x may be S- y either PG or NG z may be 12A Output due to Shade Factors: 100% EPBB Design Factors: 100% Array Area & Orientation: Roof Mount: 9,434 sq-ft Tilt: 10, Azimuth: 180 (S)

8 Cash Flow by Year The following table of estimated cash flows includes any tax effects, rate and cost inflation and other time-related cash flow factors. Refer to the Disclaimers & Assumptions section (below) for further clarification. Year: MACRS 5-year Accelerated Depreciation (Fed & State Tax Avoided) $0 $52,106 $13,895 $8,337 $5,002 CA Performance-Based Incentive (PBI) Step 9 $0 $3,009 $2,988 $2,967 $2,946 Federal Investment Tax Credit (30%) $71,280 $0 $0 $0 $0 Net Energy Bill Savings (Reduced by lower income tax deduction) $0 $5,783 $6,127 $6,492 $6,879 Installation, Operation & Maintenance Costs ($237,600) ($239) ($242) ($244) ($247) Total Annual Cash Flow ($166,320) $60,659 $22,768 $17,552 $14,580 Cumulative Cash Flow ($166,320) ($105,661) ($82,893) ($65,341) ($50,761) Year: MACRS 5-year Accelerated Depreciation (Fed & State Tax Avoided) $5,002 $2,501 $0 $0 $0 CA Performance-Based Incentive (PBI) Step 9 $2,926 $0 $0 $0 $0 Federal Investment Tax Credit (30%) $0 $0 $0 $0 $0 Net Energy Bill Savings (Reduced by lower income tax deduction) $7,289 $7,722 $8,182 $8,669 $9,185 Installation, Operation & Maintenance Costs ($249) ($252) ($254) ($257) ($259) Total Annual Cash Flow $14,968 $9,971 $7,928 $8,412 $8,926 Cumulative Cash Flow ($35,793) ($25,822) ($17,894) ($9,482) ($556) Year: MACRS 5-year Accelerated Depreciation (Fed & State Tax Avoided) $0 $0 $0 $0 $0 CA Performance-Based Incentive (PBI) Step 9 $0 $0 $0 $0 $0 Federal Investment Tax Credit (30%) $0 $0 $0 $0 $0 Net Energy Bill Savings (Reduced by lower income tax deduction) $9,732 $10,311 $10,925 $11,575 $12,264 Installation, Operation & Maintenance Costs ($262) ($265) ($267) ($270) ($273) Total Annual Cash Flow $9,470 $10,046 $10,658 $11,305 $11,991 Cumulative Cash Flow $8,914 $18,960 $29,618 $40,923 $52,914

9 Year: MACRS 5-year Accelerated Depreciation (Fed & State Tax Avoided) $0 $0 $0 $0 $0 CA Performance-Based Incentive (PBI) Step 9 $0 $0 $0 $0 $0 Federal Investment Tax Credit (30%) $0 $0 $0 $0 $0 Net Energy Bill Savings (Reduced by lower income tax deduction) $12,995 $13,768 $14,588 $15,456 $16,376 Installation, Operation & Maintenance Costs ($275) ($278) ($281) ($284) ($287) Total Annual Cash Flow $12,720 $13,490 $14,307 $15,172 $16,089 Cumulative Cash Flow $65,634 $79,124 $93,431 $108,603 $124,692 Year: MACRS 5-year Accelerated Depreciation (Fed & State Tax Avoided) $0 $0 $0 $0 $0 $0 CA Performance-Based Incentive (PBI) Step 9 $0 $0 $0 $0 $0 $0 Federal Investment Tax Credit (30%) $0 $0 $0 $0 $0 $0 Net Energy Bill Savings (Reduced by lower income tax deduction) $17,351 $18,384 $19,479 $20,638 $21,867 $23,169 Installation, Operation & Maintenance Costs ($289) ($292) ($295) ($298) ($301) ($304) Total Annual Cash Flow $17,062 $18,092 $19,184 $20,340 $21,566 $22,865 Cumulative Cash Flow $141,754 $159,846 $179,030 $199,370 $220,936 $243,801

10 Disclaimers & Assumptions Operation, Maintenance, and Inflation Rates This estimate assumes the following system operation, maintenance and inflation rates: System Life: Operation & Maintenance: PV Degradation: Estimated Inverter Life: O&M Inflation Rate: Inverter Replacement Inflation Rate: 25 years 0.10% of system cost per annum 0.70% per annum 15 years 1.0% per annum 1.0% per annum System Size Ratings & Performance There are three methods commonly used to rate PV system size: STC, PTC and CEC. The Standard Test Condition rating ("STC" also called "DC" or "nameplate") assumes a standard set of optimal operating conditions. The STC rating is most often used by manufacturers to classify the power output of PV modules. The PV-USA Test Condition ("PTC") and California Energy Commission ("CEC") ratings were designed to approximate system performance in more realistic operating conditions. The Energy production for the first year is based on PVWatts Version 1. To calculate the system's energy production for any future year, the expected degradation in system performance is included (See "PV Degradation", in table above).

11 Tax Credits & Deductions Income tax rate assumed: 43.00% (Federal 35.00% - State: 8.00%) To calculate the estimated cash flow in this proposal, our analysis used these tax rates. We should stress that we cannot provide tax or investment guidance. You should consult your tax preparer or investment adviser for these services. This analysis calculates the cash flows based only on the assumptions entered into the proposal. This analysis assumes Federal income Tax is not applied to any rebates. Therefore, the basis for the Federal ITC is the installation cost less 100% of any and all rebates. Commercial: In calculating the cash flow, our analysis assumes that your business' utility expense is tax deductible. Since your utility bill will be reduced by installing the solar energy system, the resulting tax deduction is similarly reduced.our analysis takes this into account. It also assumes that when you install your solar energy system, you will be able to receive tax benefits from the investment tax credit, depreciation of the equipment, annual maintenance expense, and interest used in financing. Unlike a residential system, the financing does not have to be secured by real estate in order for the interest to qualify as a tax deduction. MACRS Depreciation: Any commercial entity that invests in or purchases qualified solar energy property may use the Modified Accelerated Cost Recovery System (MACRS) accelerated depreciation schedule: Year 1=20.00%, Year 2=32.00%, Year 3=19.20%, Year 4=11.52%, Year 5=11.52%, Year 6=5.76%. This analysis assumes Federal income Tax is not applied to any state or local incentives. Therefore, the basis for depreciation is the installation cost less 50% of any Federal energy tax credits less 100% of any and all state or local incentives received in year 0. See IRS Publications 946 and 587. In this analysis, year 0 is the year in which the solar energy system is installed. Our analysis assumes that you will benefit from the Investment Tax Credit in year 0 (by knowing you won't have to pay as much tax), though you apply for it in year 1. For all following years, tax deductions are applied to the year in which they occurred. The tax effect of deductions in year 1 are applied to year 1, and so forth. (Net) Energy Bill Savings For an individual, electric bills are not usually deductible against income taxes. For a business, electric bills are usually deductible against income taxes. If an income tax rate is defined, the cash flow displays a "Net" Energy Bill Savings line item which is the Energy Bill Savings less the loss in tax deduction due to the PV system's lowering of the electric bill. Cost inflation for the utility rate and degradation of system performance are also taken into account. Average Monthly Utility Savings "Average Monthly Utility Savings" is the average monthly (Net) Energy Bill Savings expected over the system life. This takes into account utility rate inflation and any expected degradation in system performance. This estimate has not assumed any changes in the amount or timing in your building's energy use. Rate of Return (IRR) on Cash Invested "Rate of Return on Cash Invested" (also called "Internal Rate of Return" or "IRR") is the annual compounded rate of return that the cash flows (savings, incentives, tax benefits, etc.) bring based upon the net cash invested in the year of installation ("Year 0"). In financial math terms, IRR is the discount rate required to make the sum of the present values of each annual cash flow equal zero. If you financed your system 100%, IRR does not apply since you did not actually invest cash.

12 Total Life-Cycle Payback "Total Life-Cycle Payback" is the total cash flows (savings, incentives, tax benefits, etc.) for all years after installation as a percentage of the net cash invested in the year of installation ("Year 0"). This ROI calculation is not adjusted for inflation or the time-value of money. Levelized Cost of Energy "Levelized Cost of Energy" (or LCOE) is an approximation of the average cost of energy from your solar system ($/kwh). To determine LCOE, the system Net Cost ($ in the installation year) is divided by the amount of energy produced (kwh) over the system life (years). For this calculation, energy produced over system life is limited to the annual energy consumption of the building times the system life in years. The Net Cost does not include incentives which may materialize in later years, such as tax credits or deductions or production rebates. This calculation is not adjusted for the time-value of money. Environmental Analysis CO 2 gas emissions avoided per passenger via various travel methods: Travel Method Small Car Medium Car SUV/4 Wheel Drive Airplane (Boeing 747) Air travel average USA capacity. Emissions / mile.59 pounds 1.10 pounds 1.57 pounds 0.97 pounds Tree offset calculation is based on a tree planted in the humid tropics absorbing on average 50 pounds (22 kg) of carbon dioxide annually over 40 years - each tree will absorb 1 ton of CO2 over its lifetime; but as trees grow, they compete for resources and some may die or be destroyed - not all will achieve their full carbon sequestration potential. This calculator assumes that 5 trees should be planted to ensure that at least one lives to 40 years or that their combined sequestration equals 1 ton. General waste is based on the USA average carbon dioxide emission equivalent of 1,010 pounds per person per year. Sources: Sightline Institute, Trees for the Future and USA Environmental Protection Agency Electric Utility Rates & Assumptions Utility: Rate Name (Post Installation): Rate Code: Annual Inflation: Southern California Edison (SCE) General Service - Option B, (3-Phase, 2-50 kv) GS-2 TOU 6.7% (assumed)

13 About Utility Average Costs Time-Of-Use Rates: Solar can reduce average cost of electricity by taking advantage of time-of-use rates. Electric rates are usually higher during peak daytime periods. This is when solar systems produce peak output and can "spin your meter backwards". Each day (weekday or weekend) is broken into four (4) areas: Off-Peak (base rate), Morning Part-Peak, Peak, and Afternoon Part-Peak. We have defined the times each rate starts and used the current rate applicable for that time period. Your utility may change these rates or the time periods applied. TOU charges can account for a large percentage of your utility bill and the assumptions used in these estimates may not be accurate for your particular situation. Demand Rates: With "demand rates" a portion of your utility bill is a demand rate times the peak demand measured in the month. You may find that solar does reduce your demand charges. However, for this analysis it is assumed that solar will not reduce the measured peak demand, and thus demand charges will not change with solar installed. Please note, demand rates can come with high monthly metering fees. In this case, the average cost per kwh may actually be higher since the metering fees must now be allocated across the smaller amount of electricity you purchased from the utility after a solar installation. Annual Electric Bill "True-Up" (Reconciliation): This analysis assumes you will receive a cumulative credit from your electric utility at the end of the year for each month your system produces more energy value to the grid than you consumed. Sometimes this is referred to as a utility bill "true up". This action balances your bill across the year: often in summer months your solar system may provide excess electricity ("spin the meter backwards"), compared to winter months. So you receive billing "credits" in summer for excess energy generated (aka Net Excess Generation). At the end of the year these credits may be applied to charges incurred in months where you purchased electricity (usually winter months) assuming your utility provides Net Metering. This analysis assumes your total annual utility bill will not be less than any minimum utility customer charges, as applicable. Utility Electric Rate Inflation: Historical References California Rates: In 2009, the average retail electric rate was cents per kwh(14.74 cents residential). Investor-owned utilities averaged cents per kwh. Since 1970, electric rates in California have increased 6.7% annually. National Averages: In 2009, the average retail electricity price for all customers across the United States rose to 9.83 cents per kwh, a small increase over Over the two year period though, from 2007 to 2009, the average retail price rose 7.7 percent. Average commercial prices decreased one tenth of a cent per kwh from to cents per kwh. Average industrial prices decreased 0.02 percent from 6.83 cents per kwh in 2008 to 6.70 cents per kwh in See the following Dept of Energy source for more detail on regional and state inflation patterns. Source: