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Solar Power<br />PRELIMINARY<br />Solar Updates sample information<br />Example deck<br />PHOTON Consulting, LLC<br />THIS...
This sample information file is designed to demonstrate the sample data in the Solar Updates product. Data in Solar Update...
Solar Updates<br />(Overview)<br />PRELIMINARY<br />Delivered online via PHOTON Consulting’sThe Wall research and data pla...
PV installation announcement information provides weekly updates of global system installation announcements.
Demand information includes quarterly installation volume and system/module price forecasts for key and emerging solar mar...
Company/supply information includes monthly company by company production at each step in the supply chain. </li></ul>This...
Solar Updates<br />Price<br />PV system installation announcements<br />Demand/market updates<br />Company/supply updates<...
Price collection definitions/parameters<br />(Overview)<br />PRELIMINARY<br /><ul><li>Geography:
Price points are collected from Asian, European and US producers based on transactions into Asian, European and US markets.
Period average prices are reported as the simple average of all collected price points over that time period, though an ef...
Currency:
Price points are collected/captured in whatever currency they are offered by survey respondents. Conversions to USD are ba...
Data sources:
The significant majority of reported price points come from primary research/interviews with market participants.
These price points are routinely verified against/augmented by pricing information reported in trade/business/popular pres...
Prices are taken from both actual transaction price points as well as from current offers.
What’s included in prices:
VAT / sales tax: Prices are typically reported exclusive of VAT/sales tax. Exceptions to this are reported as such.
Shipping: Prices are typically reported FOB end-customer port of entry. Exceptions to this are reported as such.
Definition of “factory-gate”:
The module price received by the producer whether a module is sold to a distributor or directly to a large installer (i.e....
Definition of “wholesale”:
The module price received by the distributor when a module is sold to an installer (i.e. the price IBC receives when selli...
c-Si value chain pricing<br />($/W)<br />PRELIMINARY<br />Module wholesale price index rebased as of 05/29/2009 <br />Pric...
c-Si value chain pricing<br />($/W)<br />PRELIMINARY<br />Illustrative data<br />Axes, dates and data removed<br />Data up...
CONFIDENTIAL<br />info@photonconsulting.com<br />8<br />Weekly price movements<br />($/W)<br />PRELIMINARY<br />2<br />Ill...
CONFIDENTIAL<br />info@photonconsulting.com<br />9<br />c-Si value chain price movement<br />(Month-on-month changes)<br /...
CONFIDENTIAL<br />info@photonconsulting.com<br />10<br />WS module price movement <br />(Month-on-month changes)<br />PREL...
CONFIDENTIAL<br />info@photonconsulting.com<br />11<br />Price spreads along c-Si value chain<br />($/W, spot market, thro...
System price history – California large systems<br />($/W, CSI reported data, through  X/X/2010)<br />PRELIMINARY<br />1<b...
System price history – California small systems<br />($/W, CSI reported data, through  X/X/2010)<br />PRELIMINARY<br />1<b...
c-Si module spot price history - US wholesale<br />($/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Price...
c-Si module spot price history - German wholesale<br />(€/W, spot market,through X/X/2010)<br />PRELIMINARY<br />1<br />Pr...
c-Si module spot price history - German wholesale<br />($/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />P...
German wholesale c-Si module price by region of origin<br />(€/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<b...
German wholesale module price by technology<br />(€/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Weekly ...
CONFIDENTIAL<br />info@photonconsulting.com<br />19<br />Chinese Tier 1 module  - Germany wholesale <br />(€/W, spot, thro...
Thin film module spot price history - German wholesale<br />(€/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<b...
TF module spot price history - German wholesale<br />($/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Pri...
First Solar module  - Germany wholesale <br />(€/W, spot, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in €/W<br /...
CONFIDENTIAL<br />info@photonconsulting.com<br />23<br />Inverter price history - German wholesale<br />(€/W, spot market,...
CONFIDENTIAL<br />info@photonconsulting.com<br />24<br />German wholesale inverter prices by size<br />(€/W, spot market,t...
c-Si module price history – factory gate<br />($/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in U...
Cell price history<br />($/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in US$/W<br />Weekly repor...
Wafer price history<br />($/Piece, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in US$/Piece<br />Wee...
Wafer price history<br />($/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in US$/W<br />Weekly repo...
Silicon price history<br />($/kg, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in US$/kg<br />Weekly ...
Solar Updates<br />Price<br />PV system installation announcements<br />Demand/market updates<br />Company/supply updates<...
CONFIDENTIAL<br />info@photonconsulting.com<br />31<br />Project announcement tracking methodology<br />(Overview)<br />PR...
Only flat-panel and flexible film photovoltaic announcements are reported
CSP or CPV not included
Data sources
All reported projects come from either primary public sources such as company presentations and earnings transcripts or se...
Public announcements frequently do not contain specific information regarding module manufacturer or system installer.  Wh...
To avoid potential confusion:  Private/confidential data are not included in these estimates
Volume
Project sizes are captured either explicitly from an announcement or implicitly from secondary information provided in the...
Project announcement classifications
Photovoltaic installations and supply agreements
Company guidance, specific to installation volume or revenue from installations
Utility and government RFP’s (if the technology is determined to be PV)
Various government subsidy programs
Caveats
Many announced projects may not come to completion as they have not necessarily received financing, PUC approval or zoning...
Private/confidential sources typically add significantly to the overall volume of projects that we track but are not reported
Rigorous tracking process began in mid-2008.  By late-2009, refined data and historical tracking of completions are planned.
Weekly installation volumes tend to be “noisy.”  We recommend looking at trend at monthly intervals
Value
Aggregated announcement volumes are not proportional to true installation volumes.  Rather trends in announcement volumes ...
Update schedule
The next version of this deck will be posted on Friday, May 7, 2010 by 8pm EST.</li></ul>2<br />Example<br />Illustrative ...
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Photon Consulting's Solar Updates

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Easily accessible via PHOTON Consulting’s extensive online research and data platform, Solar Updates is the source for accurate, up-to-date information and analysis on solar PV prices, project announcements, demand summaries and supply information by company. Information is updated on a weekly, monthly and quarterly basis, enabling users to keep their finger on the pulse of the sector.

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Transcript of "Photon Consulting's Solar Updates"

  1. 1. Solar Power<br />PRELIMINARY<br />Solar Updates sample information<br />Example deck<br />PHOTON Consulting, LLC<br />THIS DOCUMENT IS CONFIDENTIAL – DO NOT FORWARD OR SHARE<br />
  2. 2. This sample information file is designed to demonstrate the sample data in the Solar Updates product. Data in Solar Updates may be different from this sample information file. Some data and Y-axes in this file were intentionally removed. This is a subset of the Solar Updates product for marketing purposes only.<br />This document is confidential.<br />Please do not forward or share it in any form.<br />CONFIDENTIAL<br />info@photonconsulting.com<br />2<br />
  3. 3. Solar Updates<br />(Overview)<br />PRELIMINARY<br />Delivered online via PHOTON Consulting’sThe Wall research and data platform, Solar Updates is the source for the most accurate and timely information and analysis on solar PV prices, project announcements, demand and company/supply updates. PHOTON Consulting, the leader in solar research, continually monitors and analyzes these key leading indicators for the sector and delivers this critical information via Solar Updates.<br /><ul><li>Pricing information includes weekly updates of spot prices for silicon, wafers, cells, c-Si modules and thin film modules and inverters.
  4. 4. PV installation announcement information provides weekly updates of global system installation announcements.
  5. 5. Demand information includes quarterly installation volume and system/module price forecasts for key and emerging solar markets.
  6. 6. Company/supply information includes monthly company by company production at each step in the supply chain. </li></ul>This suite of timely, relevant data and analysis provides solar decision makers with key insight into leading indicators for the sector.<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates.<br />Solar Updates: Critical PV information at your fingertips <br />CONFIDENTIAL<br />info@photonconsulting.com<br />3<br />
  7. 7. Solar Updates<br />Price<br />PV system installation announcements<br />Demand/market updates<br />Company/supply updates<br />Subscribe to Solar Updates<br />CONFIDENTIAL<br />info@photonconsulting.com<br />4<br />
  8. 8. Price collection definitions/parameters<br />(Overview)<br />PRELIMINARY<br /><ul><li>Geography:
  9. 9. Price points are collected from Asian, European and US producers based on transactions into Asian, European and US markets.
  10. 10. Period average prices are reported as the simple average of all collected price points over that time period, though an effort is made to match the geographic share of data points to global market share
  11. 11. Currency:
  12. 12. Price points are collected/captured in whatever currency they are offered by survey respondents. Conversions to USD are based on real-time exchange rate on the day the transaction is reported.
  13. 13. Data sources:
  14. 14. The significant majority of reported price points come from primary research/interviews with market participants.
  15. 15. These price points are routinely verified against/augmented by pricing information reported in trade/business/popular press, company presentations and earnings transcripts, and other public data sources.
  16. 16. Prices are taken from both actual transaction price points as well as from current offers.
  17. 17. What’s included in prices:
  18. 18. VAT / sales tax: Prices are typically reported exclusive of VAT/sales tax. Exceptions to this are reported as such.
  19. 19. Shipping: Prices are typically reported FOB end-customer port of entry. Exceptions to this are reported as such.
  20. 20. Definition of “factory-gate”:
  21. 21. The module price received by the producer whether a module is sold to a distributor or directly to a large installer (i.e. the price Trina receives from IBC).
  22. 22. Definition of “wholesale”:
  23. 23. The module price received by the distributor when a module is sold to an installer (i.e. the price IBC receives when selling a Trina module to a small installer in Germany).</li></ul>2<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates.<br />Consistent monthly methodology for collecting / reporting on <br />price points across the PV value chain<br />CONFIDENTIAL<br />info@photonconsulting.com<br />5<br />
  24. 24. c-Si value chain pricing<br />($/W)<br />PRELIMINARY<br />Module wholesale price index rebased as of 05/29/2009 <br />Price in US$/W<br />Weekly reporting of price at each step of the supply chain<br />Illustrative data<br />Axes, dates and data removed<br />Data updated 01/__/2010 Next update by 01/__/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Note: $/W pricing for wafer and Si based on standard conversion factors.<br />Module WS price down and module FG gate price down, cell price flat and wafer price up<br />Silicon contract price flat and spot price down<br />CONFIDENTIAL<br />info@photonconsulting.com<br />6<br />
  25. 25. c-Si value chain pricing<br />($/W)<br />PRELIMINARY<br />Illustrative data<br />Axes, dates and data removed<br />Data updated 01/__/2010 Next update by 01/__/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Note: $/W pricing for wafer and Si based on standard conversion factors.<br />Data and graphics available for export<br />CONFIDENTIAL<br />info@photonconsulting.com<br />7<br />
  26. 26. CONFIDENTIAL<br />info@photonconsulting.com<br />8<br />Weekly price movements<br />($/W)<br />PRELIMINARY<br />2<br />Illustrative data<br />Dates removed<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates.<br />c-Si module German WS price up and c-Si module FG gate price up, cell price down and wafer price up<br />
  27. 27. CONFIDENTIAL<br />info@photonconsulting.com<br />9<br />c-Si value chain price movement<br />(Month-on-month changes)<br />PRELIMINARY<br />1<br />Illustrative data<br />Dates removed<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates.<br />c-Si module up 6% MoM, cell prices up 2%, wafer prices up 7%MoM, and polysilicon prices flat MoM<br />
  28. 28. CONFIDENTIAL<br />info@photonconsulting.com<br />10<br />WS module price movement <br />(Month-on-month changes)<br />PRELIMINARY<br />1<br />Illustrative data<br />Dates removed<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates.<br />WS module MoM price movements ranged from -13% to +14%<br />
  29. 29. CONFIDENTIAL<br />info@photonconsulting.com<br />11<br />Price spreads along c-Si value chain<br />($/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Illustrative data<br />Axes, dates and data removed<br />Price in US$/W<br />Weekly reporting of price spreads at each step of the c-Si value chain <br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Each weekly price spread number is in an indication of the difference between mean observed price spreads at each step of the supply chain. For instance, “Spot cell price – spot wafer price” is equal to the weekly observed difference between mean cell price and mean wafer price in each week’s data set.”<br />Wafer minus Si spread up 2% WoW;cell minus wafer spread down 7%WoW; <br />FG module minus cell spread up 59%WoW; WS module minus FG module spread down 31%WoW<br />
  30. 30. System price history – California large systems<br />($/W, CSI reported data, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in US$/W<br />Weekly reporting of system price for California large systems<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Note: California system price data is updated roughly every two weeks in conjunction with release of updated CSI program data.<br />20% increase in month to date average of $8.10/W vs. monthly average price in November of $6.77/W<br />CONFIDENTIAL<br />info@photonconsulting.com<br />12<br />Illustrative data<br />Axes and dates removed<br />
  31. 31. System price history – California small systems<br />($/W, CSI reported data, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in US$/W<br />Weekly reporting of system price for California small systems<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Note: California system price data is updated roughly every two weeks in conjunction with release of updated CSI program data.<br />2% increase WoW in reported California small system prices<br />1% decrease in month to date average of $7.46/W up 1% vs. monthly average price in December of $7.53/W<br />CONFIDENTIAL<br />info@photonconsulting.com<br />13<br />Illustrative data<br />Axes and dates removed<br />
  32. 32. c-Si module spot price history - US wholesale<br />($/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in US$/W<br />Weekly reporting of c-Si module spot price for US wholesale market<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Note: California system price data is updated roughly every two weeks in conjunction with release of updated CSI program data.<br />Reported c-Si module US WS spot prices flat WoW<br />1% decrease in month to date average of $2.95/W vs. monthly average price in December of $2.99/W<br />CONFIDENTIAL<br />info@photonconsulting.com<br />14<br />Illustrative data<br />Axes and dates removed<br />
  33. 33. c-Si module spot price history - German wholesale<br />(€/W, spot market,through X/X/2010)<br />PRELIMINARY<br />1<br />Price in €/W<br />Weekly reporting of c-Si module spot price for German wholesale market<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates.<br />9% increase WoW in reported c-Si module Germany WS spot prices<br />6% decrease in month to date average of €1.75/W vs. monthly average price in December of €1.86/W <br />CONFIDENTIAL<br />info@photonconsulting.com<br />15<br />Illustrative data<br />Axes and dates removed<br />
  34. 34. c-Si module spot price history - German wholesale<br />($/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in US$/W<br />Weekly reporting of c-Si module spot price for German wholesale market<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Each weekly price point assumes the FX rate that was current as of that week. For current week data, FX rate of 1 EUR=1.44 USD simple average of daily FX rate between X/X/2010 – X/X/2010 was used.<br />9% increase WoW in reported WS spot c-Si module prices in Germany in USD terms<br />8% decrease in month to date average of $2.52/W vs. monthly average price in December of $2.74/W<br />CONFIDENTIAL<br />info@photonconsulting.com<br />16<br />Illustrative data<br />Axes and dates removed<br />
  35. 35. German wholesale c-Si module price by region of origin<br />(€/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Weekly price in €/W<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates.<br />Chinese pricing flat WoW, Japanese pricing up 24% WoW and Western pricing up 9% WoW<br />CONFIDENTIAL<br />info@photonconsulting.com<br />17<br />Illustrative data<br />Axes, dates and data removed<br />
  36. 36. German wholesale module price by technology<br />(€/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Weekly price in €/W<br />Illustrative data<br />Axes, dates and data removed<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates.<br />a-Si (single junction) prices up 8% WoW, <br />and c-Si prices up 9% WoW<br />CONFIDENTIAL<br />info@photonconsulting.com<br />18<br />
  37. 37. CONFIDENTIAL<br />info@photonconsulting.com<br />19<br />Chinese Tier 1 module - Germany wholesale <br />(€/W, spot, through X/X/2010)<br />PRELIMINARY<br />1<br />Weekly price in €/W<br />Weekly reporting of Chinese Tier 1 modules in German wholesale market<br />Illustrative data<br />Axes, dates and data removed<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Notes: “Chinese Tier 1” refers to the grouping of Chinese module manufacturers that includes Canadian Solar, Solarfun, Suntech, Trina and Yingli.<br />6% WoW decrease in reported Chinese Tier 1 module WS prices in Germany <br />1% increase in April average of € 1.57/W vs. monthly average price in March of € 1.56/W<br />
  38. 38. Thin film module spot price history - German wholesale<br />(€/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in €/W<br />Weekly reporting of thin film spot price in German wholesale market<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates.<br />5% increase WoW in reported TF module WS spot prices in Germany down<br />1% decrease in month to date average of €1.53/W vs. monthly average price in December of € 1.55/W<br />CONFIDENTIAL<br />info@photonconsulting.com<br />20<br />Illustrative data<br />Axes and dates removed<br />
  39. 39. TF module spot price history - German wholesale<br />($/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in US$/W<br />Weekly reporting of thin film spot price in German wholesale market<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Each weekly price point assumes the FX rate that was current as of that week. For current week data, FX rate of 1 EUR=1.46 USD simple average of daily FX rate between X/X/2010 – X/X/2010 was used.<br />5% increase WoW in reported TF module WS spot prices in Germany<br />3% decrease in month to date average of $2.21/W vs. monthly average price in December of $2.28/W <br />CONFIDENTIAL<br />info@photonconsulting.com<br />21<br />Illustrative data<br />Axes and dates removed<br />
  40. 40. First Solar module - Germany wholesale <br />(€/W, spot, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in €/W<br />Weekly reporting of First Solar module price in the German wholesale market<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. <br />Month to date average of € 1.65/W flat vs. monthly average price in December of € 1.65/W<br />CONFIDENTIAL<br />info@photonconsulting.com<br />22<br />Illustrative data<br />Axes, dates and data removed<br />
  41. 41. CONFIDENTIAL<br />info@photonconsulting.com<br />23<br />Inverter price history - German wholesale<br />(€/W, spot market,through X/X/2010)<br />PRELIMINARY<br />1<br />Price in €/W<br />Weekly reporting of inverter prices in the German wholesale market<br />Illustrative data<br />Axes and dates removed<br />Data updated X/X2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates.<br />Reported inverter WS spot prices in Germany flat WoW<br />5% increase in month to date average of €0.41/W vs. monthly average price in March of €0.39/W <br />
  42. 42. CONFIDENTIAL<br />info@photonconsulting.com<br />24<br />German wholesale inverter prices by size<br />(€/W, spot market,through X/X/2010)<br />PRELIMINARY<br />H<br />H<br />H<br />H<br />1<br />Price in €/W<br />Illustrative data<br />Axes, dates and data removed<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates.<br /><5 kW inverter prices flat WoW, and 10-100 kW inverter prices flat WoW<br />
  43. 43. c-Si module price history – factory gate<br />($/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in US$/W<br />Weekly reporting of c-Si factory gate module spot price<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Each weekly price point assumes the FX rate that was current as of that week. For current week data, FX rate of 1 EUR=1.46 USD simple average of daily FX rate between X/X/2010 – X/X/2010 was used.<br />4% WoW decrease in reported c-Si module FG price<br />11% WoW decrease in month to date average of $1.89/W vs. monthly average price in December of $2.12/W<br />CONFIDENTIAL<br />info@photonconsulting.com<br />25<br />Illustrative data<br />Axes and dates removed<br />
  44. 44. Cell price history<br />($/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in US$/W<br />Weekly reporting of cell spot price<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Assumes current daily FX rate. <br />1% decrease WoW in reported cell prices<br />Month to date average of $1.30/W flat vs. monthly average price in December of $1.30/W<br />CONFIDENTIAL<br />info@photonconsulting.com<br />26<br />Illustrative data<br />Axes and dates removed<br />
  45. 45. Wafer price history<br />($/Piece, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in US$/Piece<br />Weekly reporting of wafer spot price<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Each weekly price point assumes the FX rate that was current as of that week. For current week data, wafer data points include 156 mm mono, 156mm multi.<br />4% increase WoW in reported wafer prices<br />1% increase in month to date average of $3.11/piece flat vs. monthly average price in December of $3.08/piece<br />CONFIDENTIAL<br />info@photonconsulting.com<br />27<br />Illustrative data<br />Axes and dates removed<br />
  46. 46. Wafer price history<br />($/W, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in US$/W<br />Weekly reporting of wafer spot price<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Each weekly price point assumes the FX rate that was current as of that week Assume 5 inch wafer price is converted to $/W based on 2.42 Watt per wafer, and 6 inch wafer price is converted to $/W based on 3.77 Watt per wafer. Wafer data points include 156 mm mono, 156mm multi, 125 mono, 125 multi and majority of the data is 156 mm multi. <br />4% increase WoW in reported wafer prices<br />1% increase in month to date average of $0.83/W vs. monthly average price in December of $0.82/W<br />CONFIDENTIAL<br />info@photonconsulting.com<br />28<br />Illustrative data<br />Axes and dates removed<br />
  47. 47. Silicon price history<br />($/kg, spot market, through X/X/2010)<br />PRELIMINARY<br />1<br />Price in US$/kg<br />Weekly reporting of silicon spot price<br />Data updated X/X/2010 Next update by X/X/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. <br />8% decrease WoW in reported silicon spot prices <br />7% decrease in month to date average of $59/kg vs. monthly average price in December of $59/kg<br />CONFIDENTIAL<br />info@photonconsulting.com<br />29<br />Illustrative data<br />Axes and dates removed<br />
  48. 48. Solar Updates<br />Price<br />PV system installation announcements<br />Demand/market updates<br />Company/supply updates<br />Subscribe to Solar Updates<br />CONFIDENTIAL<br />info@photonconsulting.com<br />30<br />
  49. 49. CONFIDENTIAL<br />info@photonconsulting.com<br />31<br />Project announcement tracking methodology<br />(Overview)<br />PRELIMINARY<br /><ul><li>Technology
  50. 50. Only flat-panel and flexible film photovoltaic announcements are reported
  51. 51. CSP or CPV not included
  52. 52. Data sources
  53. 53. All reported projects come from either primary public sources such as company presentations and earnings transcripts or secondary public sources such as trade/business/popular press
  54. 54. Public announcements frequently do not contain specific information regarding module manufacturer or system installer. When explicit, we provide these details
  55. 55. To avoid potential confusion: Private/confidential data are not included in these estimates
  56. 56. Volume
  57. 57. Project sizes are captured either explicitly from an announcement or implicitly from secondary information provided in the announcement, such as aggregate project investment or expected output (kWh/year) of the system (labeled as “Estimate”)
  58. 58. Project announcement classifications
  59. 59. Photovoltaic installations and supply agreements
  60. 60. Company guidance, specific to installation volume or revenue from installations
  61. 61. Utility and government RFP’s (if the technology is determined to be PV)
  62. 62. Various government subsidy programs
  63. 63. Caveats
  64. 64. Many announced projects may not come to completion as they have not necessarily received financing, PUC approval or zoning approval
  65. 65. Private/confidential sources typically add significantly to the overall volume of projects that we track but are not reported
  66. 66. Rigorous tracking process began in mid-2008. By late-2009, refined data and historical tracking of completions are planned.
  67. 67. Weekly installation volumes tend to be “noisy.” We recommend looking at trend at monthly intervals
  68. 68. Value
  69. 69. Aggregated announcement volumes are not proportional to true installation volumes. Rather trends in announcement volumes – especially monthly averages – are a more reliable lead indicator of module demand and end customer appetite for downstream PV projects
  70. 70. Update schedule
  71. 71. The next version of this deck will be posted on Friday, May 7, 2010 by 8pm EST.</li></ul>2<br />Example<br />Illustrative data<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates.<br />Consistent methodology for <br />collecting/reporting PV project announcements<br />
  72. 72. CONFIDENTIAL<br />info@photonconsulting.com<br />32<br />Trailing 7-day project announcements<br />(MW - 04/21/10 - 04/27/10)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Dark blue = estimated. ‘Europe - Unspec’ reflects European announcements with no country specified. ‘US - Unspec’ reflects US announcements with no state specified. ‘ROUS’= Rest of US. ‘TBD’ = To Be Determined.<br />Announced volumes down 74% WoW<br />Equates to 425MW monthly run rate<br />
  73. 73. Trailing 30-day project announcements<br />(MW - 04/21/10 - 04/27/10)<br />PRELIMINARY<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Dark blue = estimated. ‘Europe - Unspec’ reflects European announcements with no country specified. ‘US - Unspec’ reflects US announcements with no state specified. ‘RONA’=Rest of North America. ‘TBD’ = To Be Determined.<br />Data and graphics available for export<br />CONFIDENTIAL<br />info@photonconsulting.com<br />33<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />
  74. 74. CONFIDENTIAL<br />info@photonconsulting.com<br />34<br />Trailing 30-day project announcements<br />(MW - by market - since 03/27/10)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Dark blue = estimated. ‘Europe - Unspec’ reflects European announcements with no country specified. ‘US - Unspec’ reflects US announcements with no state specified. ‘ROUS’= Rest of US. ‘TBD’ = To Be Determined.<br />2,400MW announced volume, 2,436MW total volume (incl. estimated volume)<br />Equates to 29,229MW annual run rate<br />
  75. 75. CONFIDENTIAL<br />info@photonconsulting.com<br />35<br />Trailing 30-day project announcements<br />(MW - by market - since 03/27/10)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. ‘Europe - Unspec’ reflects European announcements with no country specified. ‘US - Unspec’ reflects US announcements with no state specified. ‘ROUS’= Rest of US. ‘TBD’ = To Be Determined. ‘Other’ includes ‘TBD’ projects.<br />India 46% of total project announcements since 03/27/10<br />
  76. 76. CONFIDENTIAL<br />info@photonconsulting.com<br />36<br />Trailing 30-day project announcements<br />(MW - chronological - since 03/27/10)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Light blue = announced. Dark blue = estimated. Dotted blue divisions indicate new week. ‘Europe - Unspec’ reflects European announcements with no country specified. ‘US - Unspec’ reflects US announcements with no state specified. ‘ROUS’= Rest of US. ‘TBD’ = To Be Determined.<br />104 project announcements since 03/27/10<br />
  77. 77. CONFIDENTIAL<br />info@photonconsulting.com<br />37<br />Recent system price examples<br />($/W)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. ‘ROUS’= Rest of US <br />1.3X range in system prices across markets and segments<br />
  78. 78. CONFIDENTIAL<br />info@photonconsulting.com<br />38<br />Recent system price examples<br />($/W)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. ‘ROUS’= Rest of US. Light blue = announced. Dark blue = estimated. <br />1.3X range in system prices across markets and segments<br />
  79. 79. CONFIDENTIAL<br />info@photonconsulting.com<br />39<br />Weekly totals<br />(MW - since 11/01/2008)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Current database numbers reflect 500MW adjustment to July 2009 announcement volumes, reflecting prior double-counting of project associated with partnership between Suntech and CECIC.<br />382MW of announcements last week<br />Weekly average of 634MW since 11/01/2008<br />
  80. 80. CONFIDENTIAL<br />info@photonconsulting.com<br />40<br />Monthly totals<br />(MW - since 09/01/2008)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Current database numbers reflect 500MW adjustment to July 2009 announcement volumes, reflecting prior double-counting of project associated with partnership between Suntech and CECIC.<br />2,222MW of announcements month-to-date in April<br />
  81. 81. CONFIDENTIAL<br />info@photonconsulting.com<br />41<br />Project announcements - 2009-2010<br />(MW)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Current database numbers reflect 500MW adjustment to July 2009 announcement volumes, reflecting prior double-counting of project associated with partnership between Suntech and CECIC.<br />30.2GW of announcements in 2009; 15.9GW YTD2010<br />
  82. 82. CONFIDENTIAL<br />info@photonconsulting.com<br />42<br />Project announcements - 2009-2010<br />(MW)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Current database numbers reflect 500MW adjustment to July 2009 announcement volumes, reflecting prior double-counting of project associated with partnership between Suntech and CECIC.<br />15.9GW of announcements YTD2010 compared to 8.0GW in 2009 thru 04/27<br />
  83. 83. CONFIDENTIAL<br />info@photonconsulting.com<br />43<br />Announcements by market - 2010<br />(MW)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Europe - Unspec’ reflects European announcements with no country specified. ‘US - Unspec’ reflects US announcements with no state specified. ‘ROUS’= Rest of US. ‘TBD’ = To Be Determined.<br />California, ROUS and India lead project announcements in 2010YTD<br />
  84. 84. CONFIDENTIAL<br />info@photonconsulting.com<br />44<br />Announcements by market - 2010<br />(MW)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Europe - Unspec’ reflects European announcements with no country specified. ‘US - Unspec’ reflects US announcements with no state specified. ‘ROUS’= Rest of US. ‘TBD’ = To Be Determined. ‘Other’ includes ‘TBD’ projects.<br />California represents 36% of total project announcements in 2010YTD<br />
  85. 85. CONFIDENTIAL<br />info@photonconsulting.com<br />45<br />Number of announcements<br />(# - since 01/09)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Current database numbers reflect 500MW adjustment to July 2009 announcement volumes, reflecting prior double-counting of project associated with partnership between Suntech and CECIC.<br />78 announcements month-to-date in April<br />
  86. 86. CONFIDENTIAL<br />info@photonconsulting.com<br />46<br />Trailing 7-day announcements by completion date<br />(MW)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. <br />49% of announced volumes for completion in 2010, 4% in 2011, 47% undisclosed<br />
  87. 87. CONFIDENTIAL<br />info@photonconsulting.com<br />47<br />Trailing 30-day announcements by completion date<br />(MW)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. <br />9% of announced volumes for completion in 2010, 5% in 2011, 31% undisclosed<br />
  88. 88. CONFIDENTIAL<br />info@photonconsulting.com<br />48<br />2010 announcements by completion date<br />(MW)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. <br />13% of announced volumes for completion in 2010, 4% in 2011, 62% undisclosed<br />
  89. 89. CONFIDENTIAL<br />info@photonconsulting.com<br />49<br />2010 announcements by completion date<br />(MW - YTD)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Current database numbers reflect 500MW adjustment to July 2009 announcement volumes, reflecting prior double-counting of project associated with partnership between Suntech and CECIC.<br />15.9GW of projects in 2010YTD with 2.0GW (13%) of projects to be completed in 2010<br />
  90. 90. CONFIDENTIAL<br />info@photonconsulting.com<br />50<br />2010 announcements by completion date<br />(% - YTD)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Current database numbers reflect 500MW adjustment to July 2009 announcement volumes, reflecting prior double-counting of project associated with partnership between Suntech and CECIC.<br />15.9GW of projects in 2010YTD with 2.0GW (13%) of projects to be completed in 2010<br />
  91. 91. CONFIDENTIAL<br />info@photonconsulting.com<br />51<br />2009 announcements by completion date<br />(MW - 01/01/09-12/31/09)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Current database numbers reflect 500MW adjustment to July 2009 announcement volumes, reflecting prior double-counting of project associated with partnership between Suntech and CECIC.<br />In 2009, wide distribution of project installation year with no information available for nearly half of announced project volume<br />
  92. 92. CONFIDENTIAL<br />info@photonconsulting.com<br />52<br />Apr 10 announcements by completion date<br />(MW)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. <br />6% of announced volumes for completion in 2010, 1% in 2011, 32% undisclosed<br />
  93. 93. CONFIDENTIAL<br />info@photonconsulting.com<br />53<br />Monthly announcements by completion date<br />(MW)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Current database numbers reflect 500MW adjustment to July 2009 announcement volumes, reflecting prior double-counting of project associated with partnership between Suntech and CECIC.<br />Monthly comparison of MW of announcements by completion date<br />
  94. 94. CONFIDENTIAL<br />info@photonconsulting.com<br />54<br />Monthly announcements by completion date<br />(% of MWs)<br />PRELIMINARY<br />1<br />Example<br />Illustrative data<br />Data as of 04/27/2010 Next update by 05/07/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Current database numbers reflect 500MW adjustment to July 2009 announcement volumes, reflecting prior double-counting of project associated with partnership between Suntech and CECIC.<br />Monthly comparison of % of announcements by completion date<br />
  95. 95. Solar Updates<br />Price<br />PV system installation announcements<br />Demand/market updates<br />Company/supply updates<br />Other updates<br />Subscribe to Solar Updates<br />CONFIDENTIAL<br />info@photonconsulting.com<br />55<br />
  96. 96. Market price and volume data - 2009<br />(Summary data)<br />ROUGH ESTIMATES<br /> Data are intentionally removed<br />Illustrative data<br />Axes and data removed<br />Source: PHOTON Consulting, LLC as of January __, 2010. Note: All data are rough estimates. Demand curve components sum to a number larger than total annual installations due to work-in-progress installations. These are conservative estimates<br />__GW supply, __GW shipments, __GW installs, $__/W FG ASP, $__/W system ASP<br />CONFIDENTIAL<br />info@photonconsulting.com<br />56<br />
  97. 97. Market price and volume data - 2009<br />(Summary data)<br />ROUGH ESTIMATES<br />Data are intentionally removed<br />Illustrative data<br />Axes and data removed<br />Source: PHOTON Consulting, LLC as of January __, 2010. Note: All data are rough estimates. Demand curve components sum to a number larger than total annual installations due to work-in-progress installations. These are conservative estimates<br />Data and graphics available for export<br />CONFIDENTIAL<br />info@photonconsulting.com<br />57<br />
  98. 98. Global demand curve - 2009<br />($/W and MW/yr)<br />ROUGH ESTIMATES<br />US$/W<br />Illustrative data<br />Axes and data removed<br />Quarterly reporting of price and volume by market segment<br />Data as of: __/__/2009<br />Next update by: 01/__/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Demand curve components sum to a number larger than total annual installations due to work-in-process installations. Demand curves reflect trailing six-month average exchange rates.<br />__GW supply, __GW shipments, __GW installs, $__/W FG ASP, $__/W system ASP<br />CONFIDENTIAL<br />info@photonconsulting.com<br />58<br />
  99. 99. Global installation volume by market - 2009<br />(MW/yr)<br />ROUGH ESTIMATES<br />Illustrative data<br />Axes and data removed<br />Data as of: 4/__/2009<br />Next update by: 04/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates.<br />3 largest markets in 2009: Germany (46%), Italy (8%) and Japan (6%) <br />CONFIDENTIAL<br />info@photonconsulting.com<br />59<br />
  100. 100. Market price and volume data – 2010<br />(Summary data)<br />ROUGH ESTIMATES<br /> Data are intentionally removed<br />Illustrative data<br />Axes and data removed<br />Source: PHOTON Consulting, LLC as of January __, 2010. Note: All data are rough estimates. Demand curve components sum to a number larger than total annual installations due to work-in-progress installations. These are conservative estimates<br />__GW supply, __GW shipments, __GW installs, $__/W FG ASP, $__/W system ASP<br />CONFIDENTIAL<br />info@photonconsulting.com<br />60<br />
  101. 101. Global demand curve - 2010<br />($/W and MW/yr)<br />ROUGH ESTIMATES<br />US$/W<br />Illustrative data<br />Axes and data removed<br />Quarterly reporting of price and volume by market segment<br />Data as of: 04/__/2010<br />Next update by: 04/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. Demand curve components sum to a number larger than total annual installations due to work-in-process installations. Demand curves reflect trailing six-month average exchange rates.<br />__GW supply, __GW shipments, __GW installs, $__/W FG ASP, $__/W system ASP<br />CONFIDENTIAL<br />info@photonconsulting.com<br />61<br />
  102. 102. Global installation volume by market - 2010<br />(MW/yr)<br />ROUGH ESTIMATES<br />Illustrative data<br />Axes and data removed<br />Data as of: 1/__/2009<br />Next update by: 01/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates.<br />3 largest markets in 2010: Germany ( %), Italy ( %) and Japan ( %)<br />CONFIDENTIAL<br />info@photonconsulting.com<br />62<br />
  103. 103. Solar Updates<br />Price<br />PV system installation announcements<br />Demand/market updates<br />Company/supply updates<br />Subscribe to Solar Updates<br />CONFIDENTIAL<br />info@photonconsulting.com<br />63<br />
  104. 104. Silicon production (2010)<br />(Thousand tons - Bottom up)<br />ROUGH ESTIMATE<br />Illustrative data<br />Axes and data removed<br />Data as of: 01/__/2010<br />Next update by: 02/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. This slide reflects PHOTON Consulting’s most up-to-date company by company supply projections for 2010 and may not match supply data in other sections because of differing slide update frequencies (monthly vs. quarterly).<br />2010 silicon production bottom-up estimate for top 10 companies: __ thousand tons<br />CONFIDENTIAL<br />info@photonconsulting.com<br />64<br />
  105. 105. Wafer production (2010)<br />(MW - Bottom-up)<br />ROUGH ESTIMATE<br />Production in MW<br />Illustrative data<br />Axes and data removed<br />Data as of: 01/__/2010<br />Next update by: 02/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. This slide reflects PHOTON Consulting’s most up-to-date company by company supply projections for 2010 and may not match supply data in other sections because of differing slide update frequencies (monthly vs. quarterly).<br />2010 wafer production bottom-up estimate for top 20 companies: __GW<br />CONFIDENTIAL<br />info@photonconsulting.com<br />65<br />
  106. 106. Cell production (2010)<br />(MW - Bottom-up)<br />ROUGH ESTIMATE<br />Production in MW<br />Illustrative data<br />Axes and data removed<br />Data as of: 01/__/2010<br />Next update by: 02/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. This slide reflects PHOTON Consulting’s most up-to-date company by company supply projections for 2010 and may not match supply data in other sections because of differing slide update frequencies (monthly vs. quarterly).<br />2010 c-Si cell production bottom-up estimate for top 20 companies: __GW<br />CONFIDENTIAL<br />info@photonconsulting.com<br />66<br />
  107. 107. c-Si module production (2010)<br />(MW - Bottom-up)<br />PRELIMINARY<br />Production in MW<br />Illustrative data<br />Axes and data removed<br />Data as of: 01/__/2010<br />Next update by: 02/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. This slide reflects PHOTON Consulting’s most up-to-date company by company supply projections for 2010 and may not match supply data in other sections because of differing slide update frequencies (monthly vs. quarterly).<br />2010 c-Si module production bottom-up estimate for top 20 companies: __GW<br />CONFIDENTIAL<br />info@photonconsulting.com<br />67<br />
  108. 108. Thin film module production (2010)<br />(MW - Bottom-up)<br />ROUGH ESTIMATE<br />Production in MW<br />Illustrative data<br />Axes and data removed<br />Data as of: 01/__/2010<br />Next update by: 02/2010<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates. This slide reflects PHOTON Consulting’s most up-to-date company by company supply projections for 2010 and may not match supply data in other sections because of differing slide update frequencies (monthly vs. quarterly).<br />2010 thin film module production bottom-up estimate for top 20 companies: __GW<br />CONFIDENTIAL<br />info@photonconsulting.com<br />68<br />
  109. 109. Solar Updates<br />Price<br />PV system installation announcements<br />Demand/market updates<br />Company/supply updates<br />Subscribe to Solar Updates<br />CONFIDENTIAL<br />info@photonconsulting.com<br />69<br />
  110. 110. CONFIDENTIAL<br />info@photonconsulting.com<br />70<br />Solar Updates:<br />Critical PV information at your fingertips<br />PRELIMINARY<br />To subscribe to Solar Updates, please visit: http://www.photonconsulting.com/solarupdates/index.php<br />For more information or to contact at PHOTON Consulting representative: <br /><ul><li>Website: www.photonconsulting.com/solarupdates
  111. 111. Email: SolarUpdates@photonconsulting.com
  112. 112. Phone: +1-617-262-5701</li></ul>2<br />Source: PHOTON Consulting, LLC. Note: All data are rough estimates.<br />Solar Updates: Critical PV information at your fingertips <br />
  113. 113. CONFIDENTIAL<br />info@photonconsulting.com<br />71<br />This sample information file is designed to demonstrate the sample data in the Solar Updates product. Data in Solar Updates may be different from this sample information file. Some data and Y-axes in this file were intentionally removed. This is a subset of the Solar Updates product for marketing purposes only.<br />This document is confidential.<br />Please do not forward or share it in any form.<br />
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