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CdTe Thin-film technology Utilit

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					                Utility-Scale PV Technology
                Southwest Renewable Energy Conference




Flagstaff, AZ
Sep. 10, 2009
Who is Abound Solar?


  Technology          CdTe PV thin-film technology, developed at CSU
  Product             120 x 60 cm solar modules (~10% efficiency)
  Market focus        Utility- and commercial-scale projects
  History             AVA Solar est. in 2007; name changed in Mar „09
  Production          Ramping to 200 MW in first factory




 Abound Solar, Inc.           Confidential                          1
    Commercial- and utility-scale PV experiencing high growth


                                                       US grid-connected solar PV installations           CAGR
                                                                                                         („04-‟08)
                                          300
                                                                                                          78%
              Annual installations (MW)




                                          250

                                          200
                                                                                                          57%
                                          150

                                          100

                                           50                                                             33%


                                            0
                                                2004         2005           2006         2007     2008

                                                       Residential   Non-residential   Utility




Source: US Solar Trends 2008 (Interstate Renewable Energy Council)
        Abound Solar, Inc.                                            Confidential                              2
 Commercial owners driven by project economics



                                             Cost            System cost per watt of capacity




Levelized cost of                       Performance         Electricity output per watt of capacity
   electricity

       LCOE
                                          Reliability       Useful life of solar system




                                            O&M             On-going maintenance costs




                 Improvements along all dimensions have accelerated utility-scale solar

   Abound Solar, Inc.                        Confidential                                      3
       CdTe projected to be most cost-effective PV technology
       through 2015

                 Module cost ($) / W                                      System price ($) / W                                  LCOE ($ / kWh)

       3.00                                                      5.50                                             0.30

                c-Si (ave)
                                                                 5.00
       2.50
                                                                                                                  0.25
              c-Si
              (high CE)
                                                                 4.50
       2.00
$/Wp




                                                                                                                  0.20




                                                                                                          $/kWh
                                                                 4.00
                                                          $/Wp
              a-Si (mm)

       1.50
              CIGS                                               3.50
                                                                                                                  0.15
       1.00                                c-Si (hi/lo)
                                                                 3.00
              CdTe

                                                                                                                          5kW/m2/day solar irradiance
                                                                 2.50                                             0.10
       0.50
                2009         2011   2013     2015                         2009    2011      2013   2015                    2009       2011        2013   2015

              • CdTe retains cost leadership                            • Lower efficiencies result in                   • Higher performance ratios
                through 2015                                              marginally higher BOS costs                      (kWh / kWp) improve
              • Large decreases in c-Si                                   for CdTe                                         economics for CdTe over all
                attributed to polysilicon cost                          • BOS costs limit CdTe                             other technologies
                reductions                                                advantage at system level by                   • CdTe remains total electricity
                                                                          2015                                             cost leadership until 2015
   Source: Deutsche Bank (April 24, 2009)
       Abound Solar, Inc.                                                    Confidential                                                                4
  Utility-scale PV has many advantages over Solar Thermal

                                                Utility-scale PV                                   CSP/Solar Thermal




Description                             No moving parts, converts light                     Sunlight concentrated to heat a
                                         directly into electricity                           circulating fluid & drive steam turbine
Cost of electricity                     Proven; decreasing rapidly; less than Current generation not proven; quoting
                                         CSP                                   higher than PV
Minimum efficient scale                 Scalable from kWs to 100‟s of MWs                   Minimum usually hundreds of MWs
Installation time                       Few months from contract to COD                     Years due to req. scale & permitting
Operation & maintenance Very low; no onsite employees                                       Significant; req‟s onsite employees
Location requirements                   Any latitude; even on uneven land                   Only between 35º N & S; on flat land.
                                         and in freezing conditions                          Cannot be exposed to freezing temps
Water requirements                      Very little (periodic washing)                      Significant for cooling & cleaning


  “[Sempra Energy] has found that using solar panels is the cheaper option, [their CEO] said.
    He noted that some of the solar-thermal power technologies, such as the use of a central
   tower for harvesting the heat and generating steam, have yet to be proven commercially.”

  Source: Greentech Media, April 22, 2009, “Sempra Wants 300MW Plus of Solar in Arizona “
      Abound Solar, Inc.                                              Confidential                                                 5
Market share shifting significantly from c-Si to CdTe

                      Annual solar PV supply
      100%
                                                                                CdTe enjoying fastest
                                                                                growth and now
       80%
                                                                                >15% of market


       60%


       40%


       20%


         0%
                        2005           2006      2007           2008     2009
                      Crystalline Si      CdTe    Amorphous Si         CIGS

             CdTe gaining share due to low cost and high performance

 Abound Solar, Inc.                              Confidential                                    6
CdTe modules have significant performance advantages
over c-Si & CIGS

             Better low light performance                                                          Half the power loss at high temperature

                                                                                            1.0




                                                                      Relative Efficiency
                                                                                            0.9
                                                                                                                                                Sharp (a-Si)
                                                                                                                                                First Solar (CdTe)
                                                                                                                                                Nanosolar (CIGS)
                                                                                            0.8
                                                                                                                                                Evergreen (c-Si)



                                                                                            0.7
                                                                                                  25   30   35    40   45   50   55   60   65
                                                                                                                 Temperature (C)




            Customers report that CdTe produces 10%-15% more kWh / kWp


Source: First Solar presentation (December 2007); customer meeting / materials

   Abound Solar, Inc.                                          Confidential                                                                              7
CdTe modules have been embraced around the world




                                 NM – 2010
                                  30 MW




                                                            UAE – 2009
                                                              10 MW




                      More than 1 GW of CdTe has been deployed worldwide

 Abound Solar, Inc.                          Confidential                  8
Abound Solar using industry-standard CdTe stack




            Semiconductor stack is similar to proven, industry-leading CdTe
                modules but deposited with next-generation process

 Abound Solar, Inc.                    Confidential                           9
Abound Solar‟s proprietary low-cost technology developed
over 16 years

    Pilot line at CSU      Scale-up demonstration     Commercial production




         Since 1993               Since 2007                 Since 2009



• 8 x 9 cm substrates      • 42 x 42 cm substrates    • 60 x 120 cm substrates
• 12%+ cell efficiencies   • 12%+ cell efficiencies   • 12%+ cell efficiencies
                           • Modules built by hand    • Fully automated
                                                        production line

  Abound Solar, Inc.                 Confidential                                10
Product similar to industry standard, but with enhancements


Fully integrates with existing systems
  • 120cm x 60cm (~4‟ x 2‟)
  • Standard wiring & connection systems
      – single junction box; >2.5mm2 wires
  • Frameless; able to use existing racking systems




                                  Enhancements
                                     • Enhanced seal: Increased reliability
                                     • Improved laser scribing: Lower voltage modules
                                     • Favorable power tolerance: -0%/+5%




 Abound Solar, Inc.                     Confidential                                11
       Abound‟s CdTe devices demonstrated high-performance


                                 High efficiency                                                                 Long-term stability

                        Device efficiency %                                                               Accelerated indoor light soak
                                                                                                 14

                                                                                                 12




                                                                             Ave. efficiency %
                                                                                                 10
      Devices




                                                                                                  8

                                                                                                  6

                                                                                                  4

                                                                                                  2

                                                                                                  0
                                                                                                      0      5     10   15   20   25   30        35


                                 Conversion Efficiency                                                             Hours (thousand)


              Thousands represent the distribution over
 a small module. Graphs of high quality devices made of 64last 7 years
module and demonstrate the uniformity of performance.
     Source: Device date collected from pre-production modules (16“ x16“); accelerated indoor light soak data based upon long-term CSU studies

                Abound Solar, Inc.                                    Confidential                                                                    12
Modules backed by highly competitive warranty



  Materials &
 workmanship                • 5 years



                            • 25 years
 Power output               • 90% of nominal output during years 1 to 10
                            • 80% of nominal output during years 11 to 25


                            • Repair or replace
    Remedies                • Provide additional power
                            • Pay depreciated value of product



                      Warranty is fully transferable to future system owners

 Abound Solar, Inc.                          Confidential                      13
Reclamation and recycling program to ensure safe disposal


Program overview:
 • Module is fully (95%) recyclable by design
 • Program will be pre-funded at time of sale through escrow fund
 • Abound will pay for packaging, transport to recycling center, and recycling
 • Program will be audited to ensure EHS and waste mgmt best-practices
 • Liability & obligation will transfer to Abound upon return of modules




          Executing recycling contract with leading CdTe provider to provide
             complete recycling services in Europe and North America


 Abound Solar, Inc.                    Confidential                              14
Quality/reliability is a central focus

  Product and manufacturing equipment designed for quality
          •    Semiconductor deposition process is stable, controllable
          •    Module encapsulation package is robust
          •    Production line is fully automated and has pervasive metrology

  Pursuing full slate of ISO certifications
          •    ISO 9000, 17025, 14000

  Pursuing full slate of IEC and UL certifications
          •    IEC 61646-edition 2 (2008)
          •    IEC 61730-1 (Class A, 1000V system)
          •    IEC 61730-2 (Class A, 1000V system)
          •    UL 1703-2004 (Class C fire rating, 600V system)
          •    EU CE Mark
          •    California Energy Commission listing for eligible renewables equipment list

  Testing our product side-by-side with other products
          •    Both c-Si and thin-film technologies




 Abound Solar, Inc.                         Confidential                                     15
World-class in-house reliability lab capable of conducting full
complement of certification and reliability tests




                      Participating in UL Witness Program

 Abound Solar, Inc.              Confidential                16
Substantial environmental benefits vs. other PV products

                 Bousted Consulting Environmental & Energy Benefit Report

        Energy and air emission savings from the manufacture of                   Energy pay-back time for Abound , Uni-
               Abound, Uni-Solar and Kyocera modules                               Solar and Kyocera modules (years)

         Abound Solar (CdTe)     Uni-Solar (a-Si)    Kyocera (x-Si)         2.5

100%
                                                                            2.0

75%
                                                                            1.5

50%                                                                         1.0

25%                                                                         0.5

 0%                                                                         0.0
          Total    Fossil Fuel Water (mg) CO2 (mg)   Sox (mg)   Nox (mg)          Abound Solar Unisolar (a-   Kyocera (x-
       energy (MJ)   (MJ)                                                           (CdTe)         Si)           Si)




         “ ...[Abound] panels outperform other technologies... with a total energy
                 reduction in manufacture that ranges from 41% up to 81%


   Abound Solar, Inc.                                        Confidential                                                   17
First customers are leaders in large-scale installations



                               • Working with major established
                                 integrators in Europe
                                       • Largest CdTe Installer
                                       • Multi-Year. Multi-Geography
                                         engagements


                               • Establishing test and reference sites in
                                 different geographies
                               • Looking towards long term engagements
                                 in North America and beyond




 Abound Solar, Inc.         Confidential                                18

				
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