Max dworkin into the final steps

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Max dworkin into the final steps

  1. 1. Into the final steps – The state of the solar market and the future of the CSI Max Dworkin September 16, 2010
  2. 2. REC Solar is one of the largest system integrators in the US World class engineering, construction and procurement capabilities (EPC). One of the largest and more professional sales organizations in the industry In depth understanding of the solar industry, and how to serve customer requirements using solar technology. Experienced management team dedicated to operational excellence and customer satisfaction Lowering cost and creating scalability through significant investment in Oracle ERP system and standardized backend processes. Proprietary products and services which lower systems cost Workforce of +500 passionate professionals working to make a difference. Serving customers form more than 13 locations nationwide and expanding into new markets each year Confidential – Not to be printed, presented or distributed without express written consent from REC Solar Inc.
  3. 3. Mainstream Energy operates in the downstream segment of the PV value chain; delivering high value systems, services and products . PV Value Chain Revenue contribution by segment $/ W 8. MSE Focus; 1.3 7.91 0 Delivery of 5 products, s Focus of ystems and our services 1. upstream 35 Down- partners 3.60 stream 6. 0 45.5% .4 .4 5 1.05 5 4. 0 1.35 Up Up- 2. 1.12 1 12 4.31 stream 0 54.5% .20 .5 9 Source: Photon/Rogol 2006 Confidential – Not to be printed, presented or distributed without express written consent from REC Solar Inc.
  4. 4. IT S IT’S OUR JOB TO STRETCH TECHNOLOGY AND INDUSTRY EFFICIENCIES. . . Confidential – Not to be printed, presented or distributed without express written consent from REC Solar Inc.
  5. 5. BUT IT WILL NOT BE AN EASY RIDE AS WE NEED TO GET THE COST DOWN TO INCREASE DEMAND. Confidential – Not to be printed, presented or distributed without express written consent from REC Solar Inc.
  6. 6. Exponential growth in solar manufacturing capacity is lowering cost. This in combination with increasing support by state and federal government is resulting in rapidly increasing demand. Solar (PV) Industry Growth 50000 44149 45000 40000 35000 ty awatts Capacit 30570 30000 25000 21630 20000 Mega 15761 15000 12095 10000 7913 5500 5000 3073 1407 1985 1050 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Confidential – Not to be printed, presented or distributed without express written consent from REC Solar Inc.
  7. 7. Our view: Total System Cost/Watt DC: Commercial $4.30, Residential $5.50 6.00 5.00 4.00 Cost $/W Installation, 3.00 Racking, BOS 2.00 GP Inverter 1.00 Module 0 Commercial Residential Confidential – Not to be printed, presented or distributed without express written consent from REC Solar Inc.
  8. 8. CSI Experience To date: • > 3500 submitted application since 2007 + Overall Positive experience p  Created significant demand in market - Additional administration burden - Additional cash flow management burden • Field level support from Utilities was relatively good. good – Slower to execute automations and improvements but always open to discussions and input. Confidential – Not to be printed, presented or distributed without express written consent from REC Solar Inc.
  9. 9. CSI Going Forward: • Market Environment Going forward - High initial demand and rebate deployment has out passed downstream efficiency gains. - Module prices have stabilized with forecasted nominal declines in pricing.  How will this effect demand in the market and what will be the industries reaction? • Support plan going forward. – M k reaction will dictate next steps. Market i ill di - Additional MW deployment - Policy changes - Equipment prices - Technology improvements Confidential – Not to be printed, presented or distributed without express written consent from REC Solar Inc.
  10. 10. Summary • CSI has been relatively successful in the first half of its existence during early adopter market. • Total system cost is about hard analysis in the field, not about marketing promises. • Work towards continued improvements in consumer value proposition through: Technology, Policy, Equipment, Installations, and pricing. • Develop plans for both market acceptance or denial if other external factors cannot keep pace. Confidential – Not to be printed, presented or distributed without express written consent from REC Solar Inc.
  11. 11. Sample of Partners Customers Confidential – Not to be printed, presented or distributed without express written consent from REC Solar Inc.
  12. 12. Thank you for your attention! Questions? Thank you. y Poway High S h l 389 k i h School, kW Confidential – Not to be printed, presented or distributed without express written consent from REC Solar Inc.

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