Utilities Go Green: Worldwide Utility Solar Market Shares, Forecasts, and Strategies,

Transcription

1 Utilities Go Green: Worldwide Utility Solar Market Shares, Forecasts, and Strategies, Utilities Use of Solar Panels To Combat Carbon Surcharges Picture by Susie Eustis MOUNTAINS OF OPPORTUNITY WinterGreen Research, Inc. Lexington, Massachusetts

2 CHECK OUT THESE KEY TOPICS UTILITIY SOLAR PHOTOVOLTAICS FOR UTILITIES GRID SOLAR SYSTEMS UTILITIES SOLAR ELECTRIC SOLAR THERMAL SYSTEM PV SYSTEM SOLAR ELECTRICITY THIN FILM HYBRID SYSTEMS PV CELLS PV MODULES ON GRID SOLAR Global Warming Drives Solar Energy Adoption Solar Utility Market Forecasts Solar Utility Market Shares Utilities Solar Market Forecasts OPPORTUNITY ABOUNDS WinterGreen Research, Inc. Lexington, Massachusetts

3 Utilities Solar Energy Adoption: Market Shares, Forecasts, and Strategies, The single most significant economic factor driving adoption of solar utility initiatives is the prospect of carbon use surcharges. As coal, gas, and oil usage are taxed to help prevent pollution and stimulate use of renewable energy sources, solar energy becomes more attractive to the utility grid electricity providers. The environmental impact of energy use choices promises to be an ongoing factor in energy grid supply. Large scale solar electric power plants are being developed and planned worldwide as an alternative to fossil fuel, or nuclear power generation. These large scale power plants (solar farms) are typically greater than 100 kw in power output and grow in capacity to well over 1 MW. Both Germany and Canada have announced solar farm power plants that will be sized at 40 MW. PV module price decreases continue to drive the growth of large scale solar farm development worldwide. The speed with which solar system can be put in place by a utility company is a major factor in deciding what kinds of systems to put up. Solar utility systems can be put in place within six months. The ability to create an operational system in six months instead of 20 years for nuclear systems is significant. Just the cost of capital weighs heavily in favor of solar utility installations. The advantage brought by having paying customers sooner is a major factor supporting implementation of solar systems for generation of utility grid electricity. Utility vendor electricity solar equipment markets at $10 billion in 2007 are anticipated to reach $78.7 billion by Growth is a result of using utility electricity solar systems to power the grid. With.3% of the grid powered by solar in 2007, huge growth is set to occur as 6% of the grid power is anticipated to come from solar by 2014, with rapid shifts to solar energy after that. This will come through massive trillion dollar investments in grid capable solar energy systems that are financed throughout the life of the solar installation. Adoption of solar energy has a simple market driving force. If people do not adopt solar energy, the planet will become unfit for human habitation. The fossil fuels are warming the planet at an increasing rate that makes life unsustainable if something does not change. Global warming drives solar markets. Solar is perceived as the best, perhaps the only widespread solution to global warming.

4 Every large enterprise has adopted a social responsibility strategy that makes a nod toward solving the issues of global warming and embraces renewable energy. Every person in the world is aware of the problems that global warming is bringing. Growth comes not only because solar power is the cheapest power source which it will be in many cases, but because it fulfills a variety of convenience needs, not the least of which is a way to attack global warming. Every large enterprise has adopted a green strategy in response to public demand for better energy solutions. Companies Profiled Market Leaders Q-Cells Kyocera BP Solar First Solar Isofoton Sanyo SolarWorld SunPower Suntech Sharp Solar Schott Yingli Green Energy Market Participants AES Akuo Energy Colorado Instruments / SolarWorld Concentrix Cypress Semiconductor / Sunpower

5 Dyesol Limited Evergreen Solar Flisom GE Global Solar Energy Hitachi America Ltd. Hoku Scientific Isofoton Kyocera LDK Solar Co LTD Mitsubishi Nanosolar PrimeStar Solar Q-Cells AG Sanyo SatCon Signet Solar Siemens Solaire Direct Solarfun Power Holdings Co, Ltd. Solar Integrated SolarWorld AG Solartech Solon Spectra Watt / Intel Tenesol Urbasolar Yingli Green Energy

6 Solar Utilities Market Strategies, Shares, and Forecasts REPORT METHODOLOGY THIS IS THE 391ST REPORT IN A SERIES OF MARKET RESEARCH REPORTS THAT PROVIDE FORECASTS IN COMMUNICATIONS, TELECOMMUNICATIONS, THE INTERNET, COMPUTER, SOFTWARE, TELEPHONE EQUIPMENT, HEALTH EQUIPMENT, AND ENERGY. THE PROJECT LEADERS TAKE DIRECT RESPONSIBILITY FOR WRITING AND PREPARING EACH REPORT. THEY HAVE SIGNIFICANT EXPERIENCE PREPARING INDUSTRY STUDIES. FORECASTS ARE BASED ON PRIMARY RESEARCH AND PROPRIETARY DATA BASES. FORECASTS REFLECT ANALYSIS OF THE MARKET TRENDS IN THE SEGMENT AND RELATED SEGMENTS. UNIT AND DOLLAR SHIPMENTS ARE ANALYZED THROUGH CONSIDERATION OF DOLLAR VOLUME OF EACH MARKET PARTICIPATION IN THE SEGMENT. INSTALLED BASE ANALYSIS AND UNIT ANALYSIS IS BASED ON INTERVIEWS AND AN INFORMATION SEARCH. MARKET SHARE ANALYSIS INCLUDES CONVERSATIONS WITH KEY CUSTOMERS OF PRODUCTS, INDUSTRY SEGMENT LEADERS, MARKETING DIRECTORS, DISTRIBUTORS, LEADING MARKET PARTICIPANTS, OPINION LEADERS, AND COMPANIES SEEKING TO DEVELOP MEASURABLE MARKET SHARE. OVER 200 IN DEPTH INTERVIEWS ARE CONDUCTED FOR EACH REPORT WITH A BROAD RANGE OF KEY PARTICIPANTS AND INDUSTRY LEADERS IN THE MARKET SEGMENT. WE ESTABLISH ACCURATE MARKET FORECASTS BASED ON ECONOMIC AND MARKET CONDITIONS AS A BASE. USE INPUT/OUTPUT RATIOS, FLOW CHARTS, AND OTHER ECONOMIC METHODS TO QUANTIFY DATA. USE IN-HOUSE ANALYSTS WHO MEET STRINGENT QUALITY STANDARDS. INTERVIEWING KEY INDUSTRY PARTICIPANTS, EXPERTS AND END-USERS. OUR RESEARCH INCLUDES ACCESS TO LARGE PROPRIETARY DATABASES. LITERATURE SEARCH INCLUDES ANALYSIS OF TRADE PUBLICATIONS, GOVERNMENT REPORTS, AND CORPORATE LITERATURE. YOU MUST HAVE THIS STUDY Utilities Solar Market Opportunities, Strategies, and Forecasts, 2008 to 2014 Table of Contents UTILITIES SOLAR SUMMARY SOLAR UTILITY EXECUTIVE SUMMARY Global Market For Energy Prospect Of Carbon Use Surcharges Construction Cost Parity With Coal Plants Speed of Revenue Generation from Solar Utilities Thin Film Solar Technology Era Of Cheap Energy Is Over Unprecedented Level Of Solar Product Development Worldwide Wireless Handsets Population Increases Tackling Climate Change Benefits of Solar For Utility Electricity Markets Solar Utility Electricity Market Shares ES-1 ES-1 ES-1 ES-2 ES-2 ES-2 ES-3 ES-4 ES-5 ES-5 ES-5 ES-6 ES-8

7 Worldwide Utility Electricity Solar Cell and Panel Shipments ES-9 UTILITIES SOLAR DESCRIPTION AND MARKET DYNAMICS 1. SOLAR UTILITY MARKET DESCRIPTION AND MARKET DYNAMICS Solar Power Gaining In Importance: Rethinking Among US Utility Energy Suppliers: Solar Speed To Market California Leads The American Photovoltaics Market Solar-Thermal Power Plants In The Desert Solar- Power Storage in Hydrogen Tanks and Use with Stationary Fuel Cells Solar-Thermal Power Ausra can Generate Electricity For 10 Cents A Kilowatt Hour A Carbon Tax Investments in Solar Technology Masdar As An Extension Of Abu Dhabi Energy Leadership Abu Dhabi Future Energy Company (Masdar) Government Subsidies, Economic Incentives And Other Support Next Generation Of Solar Technology, Including CIS Era Of Cheap Energy Is Over Unprecedented Level Of Development Worldwide Wireless Handsets Population Increases Tackling Climate Change Power From the Sun PV Industry SGS Solar Services Solar Air Conditioning Solar Air Conditioning Sorbent Solar Air Conditioning Adsorption Refrigerant Circulation Systems Differentiated Processes Go Solar California Power The World From Desert Understanding the Opportunity Key Elements In A Solar Cell 1-31 UTILITIES SOLAR SHARES, AND MARKET FORECASTS 2. SOLAR UTILITY VENDOR MARKET SHARES AND MARKET FORECASTS Prospect Of Carbon Use Surcharges Signet Solar / Solar Farms / Solar Panels Construction Cost Parity With Coal Plants Speed of Revenue Generation from Solar Utilities Developing The Ability To Store Energy For 16 Hours Solar-Thermal Power Solar Conditions Benefits of Solar For Utility Electricity Markets Solar Energy Adoption Is A Green Decision Solar Energy Market Driving Forces Impact of Financial Market Capital Infusion On Solar Initiatives 9

8 2.4 Solar Market Shares Solar Utility Electricity Market Shares Q-Cells Sharp Solar Panels Kyocera Sanyo Suntech GE General Electric Brilliance Pre-Packaged Utility Electricity Systems GE Energy Roof-Integrated Solar Systems SunPower Utility Electricity Solar Roof Tiles Suntech Power Schott Solar Solar Utility Electricity Market Forecast Analysis Worldwide Utility Electricity Solar Cell and Panel Shipments Electricity Generation Power Source Market Segments Industrialization Requires Sustainable, Highly Efficient Energy Solar Utility Unit Shipments Photovoltaic Demand And Prices Remain High; Industry Doubles Profit Margin Gigawatt Solar Production in Cooling with Solar Heat: Growing Interest in Solar Air Conditioning Signet Solar / Solar Farms / Solar Panels Abu Dhabi Future Energy Company (Masdar) Self-Sustaining Local Solar Energy Market SunPower 23.4 Percent Efficiency Prototype Solar Cell Industry-Wide Shortage Of Polysilicon Shortage Of Crystalline Silicon Polysilicon Prices Going Up In Near Term Then Going Down Solartech Pricing Crystalline Silicon Solar Cells, Crystalline Silicon Solar Modules, And Thin Film Solar Modules Miasolé First Solar Materials and Product Design Other Companies Crystaline Silicon Wafers Vs Thin Film Amorphous Utility Electricity Solar Competitive Analysis Renewable Energy as Market Driving Force For Solar Power Adoption Worldwide Small Scale PV Power Systems In Developing Areas Incremental Use of Solar Systems in Utility Electricity Markets Sunshine Index Utility Electricity Solar Tech Pricing Utility Electricity Solar Regional Analysis Germany Spain US Japan SunTech Regional Revenues Yingli Green Regional Analysis First Solar Kyocera Solar Photovoltaic Industry Expands in Jiangxi Solartech Regional Revenue Analysis South Africa Schott 90

9 UTILITIES SOLAR PRODUCTS 3. SOLAR UTILITY PRODUCTS Solar Plants The New Skyscrapers Sharp / Sakai City, Kansai Electric Power Mega Solar Power Generation Plan in Sakai City Waterfront First Solar Modules First Solar Customers First Solar Thin Film Products First Solar Large-Scale Solar Power Plants in Europe, the USA and Asia First Solar to Build 10 MW Solar PV Power Plant for Sempra Generation First Solar Thin Film PV Modules Cost- Effective Solutions For Grid First Solar Modules Support Renewable Energy Projects First Solar / EDF Energies Nouvelles SunEdison Alamosa Solar Facility Begins Generating 3.6MW of Renewable Energy Schott / Nevada Solar One / Acciona Energy Schott / Arizona Utility Solar Power 3-24

10 3.6 Southern California Edison (SCE) Solar Programme For Commercial Roof Surfaces Stirling Energy Systems and Utility Southern California Edison Shell / 10 MW Solar Park In Pocking kw Solar Power Plant On A Private Roof Yingli Solar YL175Wp, Yingli Solar Yingli Solar Cell: High efficiency Crystalline Solar Aleo Solar AG Solar in Spain for Kyocera / Avanzalia Solar Power Plant In Spain Kyocera Commercial Grid-Tie Systems Kyocera Telecommunications Kyocera Government Initiatives Kyocera Railroad Signaling Kyocera Oil & Gas Kyocera Industrial PG&E Contracts For More Than 100 MW Of Solar Thermal-Biofuel Hybrid Power Pacific Power, Mitsubishi Complete 1 MW Photovoltaic Installation Clear Skies Solar To Build 8 MW California Project SunPower Japanese Shell Subsidiary Plans Solar-Panel Plant PG&E 100 MW Of Solar Thermal-Biofuel Hybrid Power Renewable Energy Corporation ASA (REC) Google-Backs Solar With $130 Million Google Solar Thermal Plant Rises in Israeli Desert Abu Dhabi Torresol Energy Solar Thermal in Spain Abu Dhabi Future Energy Company (Masdar) Abu Dhabi Future Energy Company (Masdar) Paradigm Shift In Solar Abu Dhabi Future Energy Company (Masdar) Torresol Energy Builds Three Solar Power Plants In Spain Solar-Fabrik Completes Greek PV System Evergreen Solar Spain A Leader In Solar Power Europe North Africa and the Middle East Desert Solar Power TREC TREC Reaching Across The Sea Parabolic Trough Solar Thermal System Parabolic Trough Solar Power Plants At Kramer Junction California Gollmer / Solar Millennium AG SunPower GE Energy Solar Electric Modules GE / Abengoa Group Spain Applied Materials Applied Materials Thin Film Solar Modules US Plant Developer Applied Material and the Swiss Oerlikon Group 3-71

11 3.32 Solar Millennium AG Ausra Signet Solar / Solar Farms / Solar Panels Ecostream and City Solar Grid Installations in Spain SunPower Completes 1.4 MW Solar Electric System In South Korea Solel Closes Deal With Ibereolica For 190,000 Solar Receivers 3-78 UTILITIES SOLAR TECHNOLOGY 4. UTILITY SOLAR TECHNOLOGY Concentrating Solar Power Basics How Solar Cells Work % Of Solar Cells Made From Silicon Solar Cells Convert Sunlight to Electricity Intensity Of The Photon Flow Solar Technologies SunPower Technology Types of PV Technologies Crystalline Silicon Thin-Film PV Technology Thin film PV Modules Technology Amorphous and Thin Film Silicon Highly Efficient Thin-Film Solar Cells Developing Technologies: Electrochemical PV cells Filsom Technology Dyesol DSC - Dye Solar Cell Technology First Solar CdTe Technology Copper Indium Diselenide Amorphous Silicon Regional Considerations Solar Panel Standards Batteries For Solar Energy Storage Thin film batteries (TFB) Flooded Lead Acid Batteries Absorbed Glass Mat Sealed Lead Acid (AGM) MK Gel Cell Batteries MK Power-Tech Batteries Solar Research and Development Barrier Coatings And Stability Of Thin Film Solar Cells High-Efficiency Amorphous Silicon And Nanocrystalline Silicon-Based Solar Cells And Modules High Throughput, Low Toxic Processing Of Very Thin, High Efficiency CIGSS Solar Cells Solar Utility Projects Jefferson County Jail in Golden, Colo Utility Application Of The Stirling Solar Dish Yes! Solar PV Systems Large Photovoltaic System In Connecticut Arizona Community Solar PV Systems Arizona State Installed 2 MW Of Solar Photovoltaics Canadian Solar Delivers Building-Integrated

12 Photovoltaics To Beijing Amtech Solar Diffusion Processing Systems Solar-Powered Affordable Housing OptiSolar Xantrex GT500MV Grid-Tie Inverters Amtech Solar Diffusion Processing Systems Solar-Powered Affordable Housing OptiSolar Selects Xantrex GT500MV Grid-Tie Inverters Young Brothers To Purchase Power From Hoku Solar System Yingli To Supply 9.19 MW Of Modules To EN-NEO Timminco Enters Supply Relationship With CSI ersol Thin Film Signs Module Supply Contract With Ralos Vertriebs esolar, SCE To Produce 245 MW Of Solar Power Canadian Solar Signs Supply Agreement With Neo Solar Power Solar Power Inc SPI Closes $20 Million Hardware Sale Yingli Green Energy Signs New Sales Contract With S.A.G Kyocera Solar Teams With Zacher Homes, American Solar Electric OPEL To Market Solarfun Panels In North America And Brazil Solar Thin Films, China Singyes To Partner On 100 MW Of Photovoltaics Napa Valley Winery Features Floating Photovoltaic Panels SunEdison Puts 1.18 MW Of Solar Online At California Prison Yingli Green Energy Contracts With Sailing New Energy Resources Asola To Supply Sunworx With Solar PV Modules XsunX Expands Relationship With Newport For Thin-Film Solar Manufacturing ersol Signs Solar Cell Supply Contract With aleo solar Spire To Provide Turnkey Solar Module Manufacturing Line To BTCP Evergreen Solar Signs Two Large Sales Contracts Nanosolar Highlights 1 GW CIGS PV Production Tool Schuco Introduces S SPU-4 Series Of Polycrystalline Solar PV Modules Genasun Offering GV-3 Solar Charge Controller Solar Monkey Installs 3 MW Of Solar PV Pacific Power, Mitsubishi Complete 1 MW Photovoltaic Installation Ecostream and City Solar Grid Installations in Spain SunPower Completes 1.4 MW Solar Electric System In South Korea Solel Closes Deal With Ibereolica For 190,000 Solar Receivers 4-50

13 UTILITIES SOLAR COMPANY PROFILES 5 UTILITIES SOLAR PANELS COMPANY PROFILES Major Photovoltaics Companies Top Five global Photovoltaics Producers In The top five global photovoltaics producers in 2007 accounted for more than half of world production. These companies were: 5-4 * Sharp Solar (Japan) 5-5 * Q-Cells (Germany) 5-5 * Kyocera (Japan) 5-5 * Suntech (China) 5-5 * Sanyo (Japan) Photovoltaic Industry Associations AES Akuo Energy BP Solar BP Solar Integrated Energy Company BP Business Strategy BP Financials BP Revenue BP Customers and Testimonials Colorado Instruments / SolarWorld Concentrix Concentrix Highly efficient Flatcon System Cypress Semiconductor / Sunpower Cypress Semiconductor / SunPower Dyesol Limited Dyesol Solar Cell (DSC) TechnologyPartnerships Evergreen Solar Evergreen Solar String Ribbon Technology Evergreen Solar Contracts and Facilities First Solar First Solar 2008 Second Quarter Revenue First Solar Revenue First Solar 2007 Third Quarter Revenue First Solar Advanced Thin Film Semiconductor Process First Solar / AES First Solar Acquisition of Turner Renewable Energy First Solar Manufacturing Capacity First Solar Financials Flisom Flisom CTI Technology Transfer for Low-Cost Manufacturing GE GE Participation In The Solar America Initiative GE Energy Global Solar Energy Hitachi America Ltd Hoku Scientific Hoku Scientific Customers Suntech Purchases Shares of Hoku Scientific Hoku Fuel Cells 5-42

14 5.16 Isofoton Isofoton Revenue Isofoton Strategies Isofoton Partners Isofoton Customers Kyocera Kyocera Revenue Kyocera Segment Information Kyocera Business Strategy LDK Solar Co LTD LDK Strategic Relationships Mitsubishi Mitsubishi Electric Mitsubishi Electric Revenue Mitsubishi Electric Business Strategy Mitsubishi Electric Improving Performance Through Balanced Management Mitsubishi Electric Promoting Business- Strengthening Strategies Mitsubishi Electric Strengthening Management Mitsubishi Electric Growth Strategies Nanosolar Nano Solar Power Innovation Nanosolar Funding PrimeStar Solar GE Makes Strategic Investment In PrimeStar Solar Q-Cells AG Q-Cells AG Business and Sales Assessment Q-Cells Germany Q-Cells Revenue Q-Cells Business Strategy Q-Cells Partners Q-Cells Customers Sanyo Sanyo Brand Vision Sanyo Revenue Sanyo Investors SatCon SatCon Revenue Schott Solar Builds US Manufacturing Plant Sharp Sharp Solar Revenue Sharp Solar Cells Revenue Sharp Solar Partners Signet Solar Signet Solar / Solar Farms / Solar Panels Signet Solar Utilities Installations Signet Solar Building Integrated Photovoltaics (BIPV) Signet Solar Remote Habitation Siemens Siemens Revenue Siemens Business Platform Strategy Solaire Direct Solarfun Power Holdings Co, Ltd Solar Integrated Solar Integrated Building Integrated

15 Photovoltaic (BIPV) Roofing Systems Solar Integrated Customers SolarWorld AG SolarWorld AG Revenue SolarWorld AG Shell Acquisition SolarWorld AG Business Strategy Solartech Solartech Develops Thin Film Silicon PV Cell Technologies Solartech Solar Cell Efficiency Solartech Revenue Solartech Customers Solon Spectra Watt / Intel SunPower Sunpower High-Efficiency Solar Cells And Multi-Megawatt Solar Power Systems SunPower Financials Cypress Semiconductor / SunPower SunPower Solar Utility-Scale Power SunPower 23.4 Percent Efficiency Prototype Solar Cell SunPower Revenue SunPower Partners Suntech Suntech Acquisitions Suntech / Hoku Scientific Suntech / Suntech Power (Korea) Suntech / Nitol Solar SunTech Revenue Suntech Regional Revenue Analysis Tenesol Urbasolar Yingli Green Energy Yingli Green Energy Revenue Yingli Business Strategy Customers UTILITIES SOLAR COMPANY LISTS 6. SOLAR COMPANIES Lists of Solar Companies Note On Lists List of Tables and Figures UTILITIES SOLAR SUMMARY Table ES-1 Benefits Of Solar For Utility Electricity Markets Figure ES-2 Worldwide Utility Electricity Solar Cells and Panels Shipments Market Shares, Dollars, First Three Quarters 2008 Figure ES-3 ES-7 ES-8 ES-9

16 Worldwide Utility Electricity Solar Cell and Panel Shipments, UTILITIES SOLAR MARKET DESCRIPTION AND MARKET DYNAMICS Table Companies Working to Generate Electricity For 10 Cents A Kilowatt Hour Figure Plasma-Enhanced Chemical Vapor Deposition Improve Solar Economics Table Description Of Solar Services Figure High-Tech Solar Cell Production at Deutsche Cell GmbH; Freiberg/Saxony Figure High-Tech Solar Production At Deutsche Cell GmbH; Freiberg/Saxony Figure Main Components Of The System At The University Clinic Of Freiburg: Adsorption Refrigeration Machine Figure Solar Thermal System Table Key Elements In A Solar Cell Table Key Main Categories Of Technology In A Solar Cell UTILITIES SOLAR MARKET SHARES, AND MARKET FORECASTS Table Benefits Of Solar For Utility Electricity Markets Table 2-1 (Continued) 2-6 Benefits Of Solar For Utility Electricity Markets Table Utility Electricity Solar Energy Market Driving Forces Table 2-2 (Continued) 2-8 Utility Electricity Solar Energy Market Driving Forces Figure Worldwide Solar Cells and Panels Market Shares, First Three Quarters 2008 Figure Worldwide Solar Market Shares, Dollars, 2007 Table Worldwide Solar Cell and Panel Shipments, Market Shares, Dollars 2007 and First Three Quarters 2008 Figure Worldwide Utility Electricity Solar Cells and Panels Shipments Market Shares, Dollars, First Three Quarters 2008 Figure

17 Worldwide Utility Electricity Solar Cells and Panels Shipments Market Shares, Dollars, 2007 Table Worldwide Solar Utility Product and Solar Component Shipments, Market Shares, Dollars, 2007 and First Three Quarters 2008 Figure Worldwide Utility Electricity Solar Cell and Panel Shipments, Market Forecasts, Dollars, Figure U.S. Electricity Generation Power Source Market Segments, 2013 Figure Worldwide Electricity Generation Power Source Market Segments, 2006 Figure Worldwide Grid and Off Grid Electricity Generation Power Source Market Segments, 2013 Figure Worldwide Grid And Off Grid Electricity Generation Power Source Market Segments, 2018 Table Worldwide Electricity Generation Power Source Market Segments, 2006, 2013, and 2018 Table Market Driving Forces for Energy Shifts: Micro Generation Of Energy Stored in Thin Film Batteries, Nuclear and Stationary Fuel Cells Table Market Driving Forces for Energy Shifts Figure Worldwide Utility Electricity Solar Installations Shipments, Market Forecasts, Units, Table Worldwide Total Utility Electricity Solar Installations Market Forecasts, Units and Dollars, Figure TREC s Vision Of Solar Energy For Europe From the North Africa Desert Figure Utility Electricity Crystalline Silicon vs. Thin Film Solar Cells Figure Sunshine Index, U.S. Figure Regional Solar Market Segments, 2007 Table Regional Solar Market Segments, 2007 Figure Schott Sales By Region

18 UTILITIES SOLAR PRODUCTS Figure Overview of Kansai Electric Power Mega Solar Power Generation Plan (1/2) Figure View of Kansai Electric Power Mega Solar Power Figure Sharp Kansai Electric Power Power Generation Plant Figure Overview of Kansai Electric Power Mega Solar Power Generation Plan (2/2) Figure Sharp Electric Power Generation Complex Figure First Solar Thin Film Modules Figure First Solar Ground Mounted Solar Park Baar Thin Film Modules Figure First Solar Mainbernheim, Germany, 176kW Table First Solar PV Modules Features Table 3-9 (Continued) 3-17 First Solar PV Modules Features Figure First Solar FS Series 2 PV Module Figure Open-Space Photovoltaics Power Plant With An Output Of 8.22 MW in Alamosa (Colorado). Figure Parabolic Trough Power Plant "Nevada Solar One" In The Mojave Desert Figure Nevada Solar One Site Table Schott / Arizona Utility Solar Power Technical Specifications Figure Schott Arizona Springerville Generating Station Solar System28-Acre Field Of PV Panels Figure Stirling Energy Systems Solar Dish and Utility Southern California Edison Figure MW Solar Park In Pocking Figure kw Solar Power Plant On A Private Roof Figure Yingli Solar Figure Large Solar Power Plant In Europe Use Modules

19 From Yingli China Baoding Tianwei Yingli New Energy Resources Co., Ltd Table Yingli Solar 175 Watt Photovoltaic Module Features Table Yingli Solar 175 Watt Photovoltaic Module Specifications Table 3-22 (Continued) 3-38 Yingli Solar 175 Watt Photovoltaic Module Specifications Table Kyocera Oil & Gas Wireless Solar Electric Power Solutions Figure BrightSource Energy Tower, a Google.org Backed Startup Figure BrightSource Energy Mirrors, a Google.org Backed Startup Figure BrightSource Energy Tower Closeup, a Google.org Backed Startup Figure Abu Dhabi Torresol Energy Solar Thermal Figure TREC s Vision Of A Energy For Europe Figure Jefferson County Jail In Golden, Colo., Parabolic Trough Solar Thermal System Figure Aerial view of the parabolic trough solar power plants at Kramer Junction in California Figure European Parabolic Trough Power Plant, Andasol 1, Figure European Parabolic Trough, Andasol 1, Table Applied Materials State-Of-The-Art Crystalline Silicon Production Solutions Benefits Figure Applied Materials Performance Systems Figure Applied Materials Solar Processors Figure Solar Millennium Solar Figure Solar Millennium Solar Installation Figure Ausra Solar Power Plant in New South Wales, Australia UTILITIES SOLAR TECHNOLOGY Figure SunPower Solar Panel

20 Table Solar Photovoltaic Cell Types Table Solar CIS/CIGS Systems And Modules By Application Table Types of PV Technologies Table 4-4 (Continued) 4-12 Types of PV Technologies Figure Thin Film Solar Modules Cell Spectral Response Table Solar CIS/CIGS Systems And Modules By Application Figure Thin-Film Solar Technology Figure Green Dye Synthetic Chlorophyll Figure Basic Idea Of Cigs Solar Cell Manufacturing Using Roll-To-Roll Deposition Technology Table Kyocera Solar Power Applications Figure Regional Power Output Levels Per kw Of Generation Using GE Solar Electric Power Systems Table Solar Energy Generated as a Function of Installation Type Figure Alternative Siteing of GE Solar Panels Figure GE Solar Panel Pressure Clamp Table MK Power-Tech Battery Features: Table Stability Issues Related To Moisture Ingress Figure Jefferson County Jail in Golden, Colo Figure Utility Application Of The Stirling Solar Dish UTILITIES SOLAR COMPANY PROFILES Table Top Five Global Photovoltaics Producers In 2007 Table Recent Solar Company IPOs Table Other Solar Companies Table 5-3 (Continued) 5-7 Other Solar Companies Table

21 Selected Photovoltaic Industry Associations Figure BP Solar Country Positioning Figure BP Drilling Platform Table BP Revenue First Half 2008 Table Selected BP Solar Customers and Testimonials Figure SolarWorld Educational Kits Figure Flisom Thin Film Solar Positioning Table GE Partners In The Solar America Initiative Figure Isofoton Solar Cell Figure Mitsubishi Electric Group Challenging Targets Figure Mitsubishi Electric Group Framework for Balanced Management Figure Q-Cells AG Business and Sales Assessment Figure Q-Cells Employees Figure Sanyo Solar Revenue Figure Sanyo Revenue by Geographical Segment Figure Sanyo Overseas Revenue by Geographical Segment Figure Sanyo Revenue by Geographical Segment Table Schott Solar Integrated PV Wafers Figure Schott Solar Locations Figure Sharp Photovoltaic Power Systems Figure Sharp Photovoltaic Power Systems Capabilities Figure Sharp Photovoltaic Sun Power Figure Sharp Photovoltaic Capacity Enhancement of Solar Cells Figure Sharp Photovoltaic Capacity Enhancement of Solar Cells Figure Sharp C/O2 Reduction Effect of Solar Cells Figure Sharp C/O2 Reduction Effect of Solar Cells

22 Figure Sharp C/O2 Reduction Effect of Solar Cells Table Sharp Solar Partners Figure SolarWorld AG Revenue Figure SolarWorld AG Sales by Region Figure SolarWorld AG Shareholder Structure Table Significant Factors That Directly Or Indirectly Affect Suntech Financial Performance UTILITIES SOLAR COMPANY LISTS Table Lists of Solar Companies Table Note On Lists

23 ABOUT THE COMPANY WINTERGREEN RESEARCH, HAS A UNIQUE RESEARCH STRATEGY THAT RELATES TO IDENTIFYING MARKET TRENDS THROUGH READING AND INTERVIEWING OPINION LEADERS. BY READING THE ELECTRONIC EQUIVALENT OF 40 FEET OF PAPER, WINTERGREEN RESEARCH SENIOR ANALYSTS CAN LEARN A LOT MORE ABOUT MARKETS, A LOT FASTER THAN CAN BE LEARNED THROUGH EXPENSIVE SURVEYS AND FOCUS GROUPS. THINKING ABOUT MARKET TRENDS IS A HIGH PRIORITY AT WINTERGREEN RESEARCH. AS WITH ALL RESEARCH, THE VALUE PROPOSITION FOR COMPETITIVE ANALYSIS COMES FROM INTELLECTUAL INPUT. IT IS A LUXURY REALLY, AVAILABLE TO ONLY A VERY FEW PEOPLE, TO BE ABLE TO GATHER INFORMATION, LOTS OF INFORMATION FROM READING MASSIVE AMOUNTS OF CONTENT, AND THEN TRYING TO MAKE SENSE OF THAT CONTENT. THE ABILITY TO THINK ABOUT MARKET TRENDS IS ENHANCED BY DOING IT OVER AND OVER FOR MANY DIFFERENT MARKETS. THAT IS WHAT WINTERGREEN RESEARCH IS ALL ABOUT: READING AND THINKING IS AN ESSENTIAL ASPECT OF COMPETITIVE ANALYSIS. TALKING TO OPINION LEADERS IS THE THIRD ESSENTIAL ASPECT OF PRODUCING GOOD, RELIABLE DATA. WINTERGREEN RESEARCH, FOUNDED IN 1985, PROVIDES STRATEGIC MARKET ASSESSMENTS IN TELECOMMUNICATIONS, COMMUNICATIONS EQUIPMENT, HEALTH CARE, INTERNET AND ADVANCED COMPUTER TECHNOLOGY. INDUSTRY REPORTS FOCUS ON OPPORTUNITIES THAT EXPAND EXISTING MARKETS OR DEVELOP MAJOR NEW MARKETS. THE REPORTS ASSESS NEW PRODUCT AND SERVICE POSITIONING STRATEGIES, NEW AND EVOLVING TECHNOLOGIES, AND TECHNOLOGICAL IMPACT ON PRODUCTS, SERVICES, AND MARKETS. MARKET SHARES ARE PROVIDED. LEADING MARKET PARTICIPANTS ARE PROFILED, AND THEIR MARKETING STRATEGIES, ACQUISITIONS, AND STRATEGIC ALLIANCES ARE DISCUSSED. THE PRINCIPALS OF WINTERGREEN RESEARCH HAVE BEEN INVOLVED IN ANALYSIS AND FORECASTING OF INTERNATIONAL BUSINESS OPPORTUNITIES IN TELECOMMUNICATIONS AND ADVANCED COMPUTER TECHNOLOGY MARKETS FOR OVER 30 YEARS.

24 ABOUT THE PRINCIPAL AUTHORS ELLEN T. CURTISS, TECHNICAL DIRECTOR, CO-FOUNDER OF WINTERGREEN RESEARCH, CONDUCTS STRATEGIC AND MARKET ASSESSMENTS IN TECHNOLOGY-BASED INDUSTRIES. PREVIOUSLY SHE WAS A MEMBER OF THE STAFF OF ARTHUR D. LITTLE, INC., FOR 23 YEARS, MOST RECENTLY AS VICE PRESIDENT OF ARTHUR D. LITTLE DECISION RESOURCES, SPECIALIZING IN STRATEGIC PLANNING AND MARKET DEVELOPMENT SERVICES. SHE IS A GRADUATE OF BOSTON UNIVERSITY AND THE PROGRAM FOR MANAGEMENT DEVELOPMENT AT HARVARD GRADUATE SCHOOL OF BUSINESS ADMINISTRATION. SHE IS THE AUTHOR OF RECENT STUDIES ON WORLDWIDE TELECOMMUNICATIONS MARKETS, THE TOP TEN INTERNET EQUIPMENT COMPANIES, THE TOP TEN CONTRACT MANUFACTURING COMPANIES, AND THE TOP TEN TELECOMMUNICATIONS MARKET ANALYSIS AND FORECASTS. SUSAN EUSTIS, PRESIDENT, CO-FOUNDER OF WINTERGREEN RESEARCH, HAS DONE RESEARCH IN COMMUNICATIONS AND COMPUTER MARKETS AND APPLICATIONS. SHE HOLDS SEVERAL PATENTS IN MICROCOMPUTING AND PARALLEL PROCESSING. SHE HAS THE ORIGINAL PATENTS IN ELECTRONIC VOTING MACHINES. SHE HAS NEW PATENT APPLICATIONS IN FORMAT VARYING, MULITPROCESSING, AND ELECTRONIC VOTING. SHE IS THE AUTHOR OF RECENT STUDIES OF THE REGIONAL BELL OPERATING COMPANIES' MARKETING STRATEGIES, INTERNET EQUIPMENT, BIOMETRICS, A STUDY OF INTERNET EQUIPMENT, WORLDWIDE TELECOMMUNICATIONS EQUIPMENT, TOP TEN TELECOMMUNICATIONS, DIGITAL LOOP CARRIER, WEB HOSTING, WEB SERVICES, AND APPLICATION INTEGRATION MARKETS. MS. EUSTIS IS A GRADUATE OF BARNARD COLLEGE.

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