The Importance of Durable Materials in Solar Energy Economics

The Importance of Durable Materials in Solar Energy Economics Tom Earnest September 16, 2014 DuPont 2014

An Exciting Decade of Growth for PV 34,500 MW Americas APAC Japan 600 MW China MEA Europe 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013E Source: EPIA, IHS DuPont 2014 2

Operating and Performance Performance risk over 25 years needs appropriate consideration Risks are distributed among several stakeholders and vary depending on role in value chain. 2014 E.I dupont de Nemours and Co, Inc.; All Rights Reserved

DuPont is Different From Other Solar Materials Companies Materials and IP for the highest power solar cells Materials proven to protect solar panels over decades of use Industry scale in-house solar cell and panel assembly and test Global solar cell process engineering and field support Powering global DuPont sites with PV power Big-data analysis from PV installations globally 40 years of experience and understanding scanning from materials to power generation DuPont 2014 4

50% of All Solar Panels Installed Globally Since 1975 Contain DuPont Materials China Power Investment Group (CPI) DuPont Tedlar film-based backsheet Source: DuPont Photo courtesy of CPI DuPont 2014 5

Over 16 Billion Solar Cells Produced Over Past 30 Years Contain DuPont Metallization Pastes DuPont Taiwan Photovoltaic Center Source: DuPont DuPont 2014 6

DuPont Leads in Investments for New PV Materials Solamet Development DuPont Taiwan Photovoltaic Center 7 DuPont 2014 7

Solamet Metallization Paste Delivering Higher Electrical Power DuPont 2014 8

Tedlar Film-Based Backsheets Protecting Your Investment Photo courtesy of Isovoltaic DuPont 2014 9

And We Are Inventing The Future Through R&D Ionomer Encapsulants for Bifacial Solar Panels High Power All-Back-Contact Solar Panels Flexible Solar Panels Note: Flex c-si Photo courtesy of Transform Solar DuPont 2014 10

DuPont Leading in Innovation 24,000 active DuPont patents worldwide Industry leading Solar patent portfolio 100 PhDs focused on solar materials Source: DuPont DuPont 2014 11

Maintaining a Global PV Customer Support Footprint Silicon Valley DuPont HQ N. Carolina UK Geneva Japan Shanghai New Delhi Taiwan DuPont 2014 12

14 DuPont Solar Sites Generate Over 11 Million kwh Per Year DuPont, Shenzhen, China 1.3 MW DuPont 2014 13

Big Data: 5 Trillion Panel-Hours of Experience Over 30 Years Operating Dr. Alex Bradley, on 3 continents DuPont Collecting data on Field modules Reliability spanning Testing over Program 30 years DuPont 2014 14

3 Areas Driving Next Wave of Growth in Solar Efficiency Cost Lifetime Continuous cell performance improvement from innovative materials Continuous improvements in material content cost and laydown Safe, in-spec power generation for 25 or more years DuPont 2014 15

Solamet Metallization Pastes Drive Higher Cell Performance Using DuPont Solamet pastes Traditional Solar Cell Customer Factory #1 Customer Factory #2 Customer Factory #3 Customer Factory #4 Customer Factory #5 Source: DuPont DuPont 2014 16

Impressive Track Record of Solamet Paste Technology 4X reduction in metal laydown Source: DuPont DuPont 2014 18

Not All Backsheets Have Demonstrated Long Life Tedlar film-based backsheets have been protecting solar panels since 1978 PET PVDF THV 20 year solar panel warranty requirement Nylon Specialty PET Coated Flouro Source: DuPont, various DuPont 2014 20

Tedlar Film-Based Backsheets Protecting Panels in Japan for More Than 30 Years Installed in 1983 Nara, Japan Source: DuPont Photo courtesy of Sharp Corporation DuPont 2014 21

DuPont Materials Powering Reliably for Decades First US utility scale PV installed in 1984 Sacramento, California 1 MW DuPont Tedlar film-based backsheets DuPont Solamet metallization pastes Source: SMUD 2010 Annual Report DuPont 2014 22

Power loss per year Power loss per year Independent Tests Performed on Modules From Field 9% 9% 0% 0% Glass-based backsheet Tedlar filmbased backsheet PET-based backsheet Tedlar filmbased backsheet 20-23 years 19-23 years 5-14 years 11-19 years Source: Joint Research Centre (Italy) ; AIST (Japan) DuPont 2014 23

Unwelcome Headlines the $77 billion solar industry is facing a quality crisis just as solar panels are on the verge of widespread adoption. May 28, 2013 UL Warns of Counterfeit UL Mark on Photovoltaic Modules (Release 14PN-02) NORTHBROOK, IL Feb. 28, 2014 DuPont 2014 24

Materials Matter 10 year old module DuPont Tedlar film-based backsheet 10 year old module PET-based backsheet DuPont 2014 25

Materials Matter 27 year old module DuPont Tedlar film-based backsheet 22 year old module Polyethylene-based backsheet DuPont 2014 26

...we will not recommend any solar panel manufacturers that incorporate back-sheets that have a history of yellowing. Felix Holz Deutsche Bank AG (Oct. 2013) 2 year old module PVDF-based backsheet DuPont 2014 27

Industry Standards Evolving to Address Durability and Reliability Qualification Plus is designed to: Address problems seen in field rather than extending test times arbitrarily Allow any test lab to perform the testing Become a consensus standard

Investment Return Securing PV Investment Over 20 Years is Cheap Cost difference for backsheet materials is ~US$2 per module Equates to 20 hours of power generation over 20 years Time (Years) Note: Standard module power output for solar projects: 250 Watt / module Japan FiT purchasing price: 40 cents / kw. Backsheet material cost difference over lifetime of module: < 5 kwh Equates to 20 hours of power generation (4 days of operation over 20 years) DuPont 2014 29

Yingli Solar Understands the Importance of Quality Baoding, China 50 MW Photo courtesy of Yingli Solar DuPont 2014 30

Large Scale Utility Projects Demanding Durable Solutions Geermu, China 300 MW DuPont Tedlar film-based backsheet DuPont 2014 31

Efficiency Cost Lifetime Materials Matter Know what is in your module to protect your investment DuPont 2014 32