Technology Advantage

Technology Advantage

2 FIRST SOLAR TECHNOLOGY ADVANTAGE 3 The Technology Advantage Cadmium Telluride (CdTe) photovoltaic (PV) technology continues to set performance records in both research and real-world environments. As a field-proven technology, high efficiency modules offer a clear energy density advantage over silicon-based modules by delivering superior efficiency, higher real-world energy yield and long-term reliability. modules feature an innovative design, quality construction and superior performance that pass the industry s most rigorous protocols. This innovation provides customers with the industry s leading performance in an affordable, high efficiency module. s commercially available 16.3% efficiency beats best in class multicrystalline today. also holds the current world record for CdTe PV module efficiency, achieving 18.2% for an advanced, full-size module. 16.3% Module Efficiency Shipping Today 18.2% World-Record Module Efficiency

4 FIRST SOLAR TECHNOLOGY ADVANTAGE 5 Modules vs Standard Silicon Modules s Module Advantage Land Utilization Advantage As a result of higher efficiency, modules offer higher power density with comparable land usage when compared to typical c-si modules, resulting in more installed capacity per square meter (m 2 ). Specific Energy Yield Advantage s high efficiency modules have a proven specific energy yield advantage to deliver more usable energy per nameplate watt than conventional c-si modules. Specific Annual Energy Yield captures operating data over a year of module performance during varying real-world conditions where temperature, sunlight intensity and solar spectrum all change throughout the days and seasons. SPECIFIC ENERGY YIELD = TOTAL ENERGY (MWh) PRODUCED INSTALLED NAMEPLATE CAPACITY (MWp) has up to 11.2% Energy Density Advantage Superior efficiency combined with other real-world performance advantages result in technology delivering significantly higher energy density than multi-crystalline Silicon (m-si) solar panels. Given the same land area with an equivalent module ground coverage ratio, s CdTe modules will produce more annual energy from the same land area than m-si.

6 FIRST SOLAR TECHNOLOGY ADVANTAGE 7 Delivering More Energy in Real-World Conditions HOW FIRST SOLAR DELIVERS A HIGHER ENERGY YIELD Higher Energy Yield in Hot Conditions Higher Energy Yield Due to Better Shading Response modules minimize power loss from shading because of its unique cell design. When a First Solar module is shaded, only the shaded portion is impacted, while the rest of the module will continue to produce power. This is in contrast to typical c-si modules that turn off disproportionately large portions of module when shading occurs to protect modules from damage. In an environment with 1% shading, a standard c-si module will lose 3% of its power while a module only experiences a 1% loss of power under the same conditions. All PV modules produce less power than their nameplate as temperatures rise above their labeled 25 C standard test condition. Whenever module operating temperatures exceed 25 C (this can be >9% of generating hours in hot climates), modules will produce more energy compared to c-si modules due to the lower temperature co-efficient of power. The CdTe module temperature co-efficient is.34%/ C, compared to ~.45%/ C for c-si modules. On a hot sunny day, module temperatures can easily reach 65 C resulting in modules producing up to 5% more power than c-si modules on average. Over a year in hot climate conditions, this high temperature advantage adds up to 2% more annual energy than c-si modules. Higher Energy Yield in Humid Conditions Due to Spectral Response Advantage Greater Energy Yield Drives Lower LCOE While module efficiency identifies the power produced by a module in standard test conditions (STC) the Specific Annual Energy Yield metric gives a more useful picture of the energy produced by the plant in a year of real world conditions. When evaluating return on investment (ROI) for a solar power plant, energy yield has one of the biggest impacts on the overall Levelized Cost of Electricity (LCOE). s high efficiency modules are proven to deliver more usable energy per nameplate watt than conventional silicon-based modules. This means that for an equivalently designed and installed power plant priced at the same $/Watt, a plant will produce more energy, resulting in a lower LCOE ($/MWh). Specific Annual Energy Yield in different regions of the world: India 1 United Arab Emirates 2 S.E. USA 1 South Africa2 Germany 1 HOT & HUMID HOT & HUMID MILD & HUMID HOT & DRY COOL & HUMID Sunlight is comprised of multiple wavelengths and various intensities of light. The intensity of various sunlight wavelengths that reach the earth s surface is influenced by atmospheric conditions, with largest effect due to water vapor in the atmosphere (commonly correlated to high humidity). Different PV technologies respond differently to different light wavelengths. On humid days, water in the atmosphere reduces specific wavelengths of available light. CdTe modules are less sensitive to reductions in wavelengths most affected by this type of high atmospheric water content. As a result, this superior spectral response allows modules to produce up to 6% more annual energy in high humidity conditions. Specific Yield DC (kwh/kwpdc/yr) Advantage: 9.1% Advantage: 8.8% Advantage: 5.% Advantage: 4.4% Advantage: 2.% 1 PV Syst energy simulation of equivalently designed fixed tilt arrays comparing thin film PV modules to tier 1 72-cell multi-crystalline silicon utility scale pv modules 2 PV Syst energy simulation of equivalently designed single-axis tracker arrays comparing thin film PV modules to tier 1 72-cell multi-crystalline silicon utility scale pv modules c-si

8 FIRST SOLAR TECHNOLOGY ADVANTAGE 9 The Reliability Advantage Long-Term Reliability Increases Plant Value 6 5 monitors one of the largest databases of utility-scale PV installations in operation today. The quality and reliability of our technology is proven both in short-term and long-term field performance. As a result, customers consistently receive energy generation that meets or exceeds expected returns. Proven Quality Due to the solar industry s rapid innovation cycles, PV technology relies on independent laboratory-accelerated testing protocols to determine the suitability and performance of modules in the field. Independent lab test results prove the quality of our technology and provide support for the reliable lifetime module performance backed by a 25 year module warranty. Test Description Results IEC 61646/IEC 6173 Basic industry market entry certifications Certification 15V certification level Multiplies basic IEC 6173/61646 test cycles and durations Thresher Test 2X to 4X <5% Power Output drop Long-Term 6-month accelerated protocol to evaluate long-term harsh Sequential Test climate durability 1st thin film module, and one of only 5 modules in the world to pass. Atlas 25+ Certification IEC 6284 PID-Resistant Certification IEC 668 Certification Desert Sand Resistance 12-month weathering-intensive certification through projected 25+ year harsh climate field lifetimes Demonstrates high resistance to potential induced degradation at extreme ± 15V voltages at most extreme 192hr 85C/85% RH test levels, enabling confident floating and grounded applications Demonstrates minimal power loss and package integrity resistant to wind-blown particulates One of only 4 modules in the world to pass. 15V 4 1 Long-Term Predictable Performance 5 1 15 2 25 Over 2 years of innovation, has compiled a lengthy track record in helping utilities meet the world s growing energy needs with clean and affordable energy. 6 Predictable lifetime energy is critical to confidently project the 5 expected value of the sellable energy from a PV plant designed for 4 long-term operation. First 1Solar CdTe modules have been field-deployed and independently monitored by NREL with a documented long-term median power degradation rate of just -.45% per year. This 5 1 15 2 25 low degradation rate positively impacts the long-term reliability and LCOE over the life of the entire power plant. 2+ Year NREL Degradation Study Calc DC Power (PTC) 6 5 4 5 1 15 2 25 Months Low, Long-Term Linear Degradation Rate With No Cliff Events 1,MW OF MONITORED SITES PERFORMING AT OR ABOVE EXPECTED OUTPUT FOR OVER 1 YEARS # of Plants 18 95-97% 99-11% 13-15% Plant Energy Performance vs P5 Expectation 96% of Plants within ±5% of PER

1 FIRST SOLAR TECHNOLOGY ADVANTAGE 11 Bankability Advantage DEMONSTRATING FINANCIAL STABILITY IS ESSENTIAL TO OBTAINING LOW-COST FINANCING has the strongest balance sheet and cash position among all companies in the solar space. There is unparalleled use of the company s modules in debt-financed projects around the world. Many financial institutions appreciate the integrity of projects and the performance of the company s technologies in high yield solar projects for their superior ROI. When evaluating the combination of s market leading technology, risk profile and financial standing, the world s leading PV investors and financial institutions see a pattern of more value and less risk than competing alternatives. topped the list of the 2 PV module brands most used in debt-financed projects in Bloomberg New Energy Finance s report, PV module bankability 214: where s the trust? Produce More Energy at a Lower LCOE By design, technology delivers a higher energy density than competing technologies. This ensures the plant produces more energy, more consistently, over the long term. Through predictable performance, the asset depreciates at a lower rate and ensures the plant s ongoing bankability. Together, these benefits establish the Technology Advantage by lowering the LCOE to prices that are competitive with today s traditional energy sources. By design, technology delivers a higher energy density than competing technologies.

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