1) The document discusses solar cell production and the solar power industry. It notes that global solar cell production grew 40% in 2006 to over 2,536MW and is projected to continue growing 25-28% annually for the next 5-10 years due to government subsidies and initiatives.
2) Solar cells directly convert sunlight into electricity through semiconductor materials like polysilicon. They are a clean, renewable source of energy generation.
3) The document analyzes the environmental benefits of solar cells, noting their energy payback period is 1-3 years, meaning the energy invested in their production is recouped within that time through electricity generation. Their lifetime CO2 emissions are also much lower than fossil fuel power sources.
Solar technologies- Introduction and BasicsSumiit Mathur
This is an introductory presentation used for training and building awareness towards Solar energy technologies , their uses, comparisons and day to day applications. This presentation is accompanied with a large no. of interactive video tutorials (not included here due to size constraints) to complete the understanding and to make the sessions lively. Contact me on sumitmathur80@gmail.com to know more.
Solar Energy: Technology and Perspectivesjoanna_oommen
Solar energy is an increasingly important renewable energy source, but presents challenges due to its intermittent availability. New technologies aim to bring the cost of solar power below $1 per watt by using thin film or printing processes. As solar power grows, smart grids can help integrate it into existing power infrastructure by enabling two-way energy transmission and distributed generation. The future of solar power depends on improved efficiency, energy storage solutions, hybrid generation systems, and optimal siting of power plants informed by geographic information systems.
Siliken is a global integrated solar photovoltaic company with presence in manufacturing, sales, distribution, and project development. The corporate presentation highlights:
1) Siliken has over 400MW of module manufacturing capacity across plants in Mexico, Romania, Canada, and Spain.
2) Quality and technology are strategic strengths, shown through proprietary manufacturing processes, certification achievements, and independent laboratory test results ranking Siliken modules highly.
3) The company has a global sales presence in over 20 countries through subsidiaries and distributors, allowing it to serve ground and rooftop installation markets worldwide.
The document discusses power generation through photovoltaic systems. It defines photovoltaics as using semiconductors to convert solar radiation directly into electricity. Photovoltaic systems use solar panels to convert sunlight into electricity for use. Large grid-connected photovoltaic systems can provide power for many customers. The document outlines photovoltaic applications, advantages like being pollution-free, and provides examples of large photovoltaic power stations around the world ranging from 1 MW to 200 MW in size.
The document describes Sugico Mok Energy Corporation's concentrating photovoltaic technology for producing ultra-low cost solar power. It concentrates sunlight 1,100-5,000x using holographic optics, allowing for photovoltaic costs under $0.01 per watt. The system drives a variable load to reduce intertie costs and produces hydrogen at a cost of $187-109 per metric ton. At these costs, hydrogen is cheaper than other energy sources and could replace fossil fuels. The business plan is to sell energy rather than equipment, targeting the large energy market.
engineers are encouraged to take up new initiative under my mentorship to learn new things and do something good for the world.pl do encourage young engineers from colleges and adopt them for better future.
The document provides an overview of major renewable energy sources including solar, wind, biomass, waste to energy, geothermal, and hydroelectric power. It discusses the technology behind each energy source, growth trends in India, advantages and disadvantages, and leading companies. The future of renewable energy in India is promising with a goal of adding over 135 gigawatts of power generation capacity before 2017 through various renewable sources to meet increasing energy demands in a sustainable manner.
The document discusses solar power and testing of solar panels. It provides an overview of solar cell technology, the solar market outlook, and types of solar systems. It then describes the key components and manufacturing process for crystalline silicon solar panels. The document outlines standard test conditions for solar panels and describes using electronic loads to test solar cells and modules by tracing I-V curves and measuring electrical parameters.
Solar technologies- Introduction and BasicsSumiit Mathur
This is an introductory presentation used for training and building awareness towards Solar energy technologies , their uses, comparisons and day to day applications. This presentation is accompanied with a large no. of interactive video tutorials (not included here due to size constraints) to complete the understanding and to make the sessions lively. Contact me on sumitmathur80@gmail.com to know more.
Solar Energy: Technology and Perspectivesjoanna_oommen
Solar energy is an increasingly important renewable energy source, but presents challenges due to its intermittent availability. New technologies aim to bring the cost of solar power below $1 per watt by using thin film or printing processes. As solar power grows, smart grids can help integrate it into existing power infrastructure by enabling two-way energy transmission and distributed generation. The future of solar power depends on improved efficiency, energy storage solutions, hybrid generation systems, and optimal siting of power plants informed by geographic information systems.
Siliken is a global integrated solar photovoltaic company with presence in manufacturing, sales, distribution, and project development. The corporate presentation highlights:
1) Siliken has over 400MW of module manufacturing capacity across plants in Mexico, Romania, Canada, and Spain.
2) Quality and technology are strategic strengths, shown through proprietary manufacturing processes, certification achievements, and independent laboratory test results ranking Siliken modules highly.
3) The company has a global sales presence in over 20 countries through subsidiaries and distributors, allowing it to serve ground and rooftop installation markets worldwide.
The document discusses power generation through photovoltaic systems. It defines photovoltaics as using semiconductors to convert solar radiation directly into electricity. Photovoltaic systems use solar panels to convert sunlight into electricity for use. Large grid-connected photovoltaic systems can provide power for many customers. The document outlines photovoltaic applications, advantages like being pollution-free, and provides examples of large photovoltaic power stations around the world ranging from 1 MW to 200 MW in size.
The document describes Sugico Mok Energy Corporation's concentrating photovoltaic technology for producing ultra-low cost solar power. It concentrates sunlight 1,100-5,000x using holographic optics, allowing for photovoltaic costs under $0.01 per watt. The system drives a variable load to reduce intertie costs and produces hydrogen at a cost of $187-109 per metric ton. At these costs, hydrogen is cheaper than other energy sources and could replace fossil fuels. The business plan is to sell energy rather than equipment, targeting the large energy market.
engineers are encouraged to take up new initiative under my mentorship to learn new things and do something good for the world.pl do encourage young engineers from colleges and adopt them for better future.
The document provides an overview of major renewable energy sources including solar, wind, biomass, waste to energy, geothermal, and hydroelectric power. It discusses the technology behind each energy source, growth trends in India, advantages and disadvantages, and leading companies. The future of renewable energy in India is promising with a goal of adding over 135 gigawatts of power generation capacity before 2017 through various renewable sources to meet increasing energy demands in a sustainable manner.
The document discusses solar power and testing of solar panels. It provides an overview of solar cell technology, the solar market outlook, and types of solar systems. It then describes the key components and manufacturing process for crystalline silicon solar panels. The document outlines standard test conditions for solar panels and describes using electronic loads to test solar cells and modules by tracing I-V curves and measuring electrical parameters.
Modeling and Simulation of Solar Photovoltaic Systemijtsrd
Solar energy is a vital untapped resource in a tropical country like ours. The main hindrance for the penetration and reach of solar PV systems is their low efficiency and high capital cost. The efficiency of solar PV is very low. In order to increase the efficiency, Maximum Power Point Tracking (MPPT) techniques are to be undertaken to match the source and load property. These techniques are employed in PV systems to make full utilization of PV array output power. Recently, many MPPT algorithms of PV system have been proposed which depends on solar irradiation and temperature, but perturb and observe (P&O) and Incremental conductance algorithms are basic and most widely used. This project firstly introduces a Mat lab Simulink of photovoltaic array. To achieve the maximum power point tracking the Incremental Conductance method and perturb and observed (P&O) method are used. These two algorithms are employed with PV model along with converter in Mat lab Simulink. Three different converter boost, buck boost and cuk converter are design according to requirement and used. Few comparisons such as voltage, current and power output for each different combination have been recorded. Irfan Khan | Ameen Uddin Ahmad"Modeling and Simulation of Solar Photovoltaic System" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-1 | Issue-6 , October 2017, URL: http://www.ijtsrd.com/papers/ijtsrd5743.pdf http://www.ijtsrd.com/engineering/electrical-engineering/5743/modeling-and-simulation-of-solar--photovoltaic-system/irfan-khan
Business Forum: Nuclear & Renewable Energy - Brownsustg
Presentation at the US-Saudi Business Opportunities Forum (Dec 5-7, 2011, Atlanta, GA). Jim Brown, President, Global Sales First Solar, presented at the panel titled, "Nuclear and Renewable Energy: Building Resources for the Future." His presentation was called "Solar PV: A Critical Component of KSA’s Energy Sollution.
ZBB Energy Corporation Presentation November 2008 Compressedkathleenunger
This investor presentation provides an overview of ZBB Energy Corporation and its zinc-bromide flow battery technology. ZBB aims to become a leader in large capacity energy storage solutions to address grid stability issues from renewable energy intermittency. Its modular ZESS products offer efficient and cost-effective energy storage in 50kWh or 500kWh systems. ZBB believes its technology is well-positioned to benefit from projected growth in alternative energy generation and the need for storage solutions. The company has over $8 million in cash and no debt on its balance sheet.
This document describes a simulation of an intelligent maximum power point tracking technique for a photovoltaic module using MATLAB/Simscape. It begins with an introduction to renewable energy and solar energy. It then discusses modeling of a photovoltaic cell and solar panel in Simscape. Two maximum power point tracking techniques are developed and compared: perturb and observe and a new fuzzy logic based method. Simulation results show the fuzzy logic approach provides more stable power output.
Comparison of power output from solar pv panels with reflectors and solar tra...Alexander Decker
The document compares the power output of a solar PV panel with diffuse reflectors and a solar tracker. An experiment was conducted where readings were taken simultaneously from the panel with reflectors and the panel with a tracker. The results found that the panel with reflectors generated higher power output from 11am to 2pm, while the panel with a tracker generated higher power at other times. However, the average daily power output of the two systems was about the same. Considering the higher cost and complexity of the tracking system, the diffuse reflector system was determined to be the better overall option.
IJRET : International Journal of Research in Engineering and Technology is an international peer reviewed, online journal published by eSAT Publishing House for the enhancement of research in various disciplines of Engineering and Technology. The aim and scope of the journal is to provide an academic medium and an important reference for the advancement and dissemination of research results that support high-level learning, teaching and research in the fields of Engineering and Technology. We bring together Scientists, Academician, Field Engineers, Scholars and Students of related fields of Engineering and Technology.
Thomas Leyden, Managing Director of SunPower, Corporation, discusses some of his company's large-scale commercial solar projects and the driving forces behind them.
This presentation was given December 4, 2009 at the Solar Energy Focus Conference: Fall 2009 hosted by the Maryland, DC, Virginia Solar Energy Industries Association (MDV-SEIA) in Gaithersburg, MD.
To learn more please visit:
www.mdvseia.camp7.org
The Solar Future DE - Bruce Sohn "By 2013, will it have been possible to achi...Paul van der Linden
This document discusses First Solar's strategy to transition solar markets to sustainability. It aims to reduce solar electricity costs through technology development, operational excellence and scale. First Solar uses price adaptive business models and partnerships to expand markets. Its goal is to become the low cost provider of solar electricity globally and maintain financial discipline to ensure superior returns. First Solar also discusses growth opportunities in transitioning solar markets in regions like the US, India, China and opportunities in sustainable markets by 2020-2050 time frame.
This document provides details about a graduation project on designing a photovoltaic system. It includes an introduction to solar photovoltaic technology and solar radiation in Palestine. Some key points covered are:
- Palestine has high solar potential with over 2800 sunshine hours per year and average daily solar radiation of 5.46 kWh/m2.
- Components of a photovoltaic system include solar modules, charge controllers, inverters, batteries and loads.
- Types of photovoltaic cells include crystalline (mono and polycrystalline) and thin film technologies like CIGS, CIS and CdTe.
- Factors that affect solar energy generation are solar radiation and temperature
Solar Photovoltaic Materials & the State of Solar in the U.S.T. R. Ramachandran
The document provides an overview of solar photovoltaic materials and the state of solar energy in the U.S. It discusses how solar cells work and the history of solar cell sales, prices, and efficiencies. It also examines how Germany and Japan were able to make solar work through policies like incentives and renewable energy standards, while the U.S. has lagged behind despite having good solar resources. For the U.S. to better utilize its solar potential, the document suggests focusing on R&D, incentives, grid connections, net metering, and pricing that encourages solar adoption.
1. The document discusses biomass energy resources and technologies in China. It finds that biomass currently accounts for about 13% of China's primary energy, and 22% in rural areas.
2. It identifies the main biomass resources as agricultural and forestry residues, animal manure from large-scale livestock farms, and municipal solid waste. It estimates that in 1998, China generated over 800 million tonnes of agricultural and forestry residues alone, equivalent to over 12,000 PJ of energy.
3. However, most biomass is currently used inefficiently through direct combustion, resulting in indoor air pollution, health impacts, and loss of time collecting fuels. The document argues modern biomass technologies could
Light and heat from the sun is the most abundant energy source on earth.The solar energy that hits our planet’s surface in one hour is about equal to the amount of energy consumed by all human activities in a year. Moreover, electricity generated by solar power is emission-free and can help mitigate climate change as well as reduce our dependence on finite carbon-based energy sources.
ABB offers a range of solutions that not just help capture the sun’s rays in the most effective manner but also help achieve grid parity.
Solar Thermal System Applications in UAEmuratironmoon
This document discusses solar thermal systems and their design and applications in the United Arab Emirates. It provides information on Viessmann as a company and manufacturer of solar thermal collectors and systems. It then covers topics such as solar energy resources in the UAE, types of solar thermal collectors produced by Viessmann, system design considerations, examples of large scale solar thermal installations in the UAE, and the importance of good engineering design and installation for solar energy systems.
Performance Enhancement of DC Load and Batteries in Photovoltaic Systemijtsrd
To avoid the pollution and to save the non conventional resources, use of renewable energy sources such as wind energy, bio gas, hydro and solar potential has increased and become essential to adopt a low cost generating system in remote areas. Besides the variety of energy sources, solar power advantages are easy to make apparent compared to other methods. For many years, solar energy is the series source of vast amounts of freely available energy, but modern technology has harnessed it. In this paper a proper battery charge controller used in the Standalone Photovoltaic PV system. The power is transfer to the dc load and manages storage level available in this proposed technique. From the PV array the maximum power is extracted by using three different methods. In this proposed technique ‘perturb and observe' and the ‘incremental conductance' control methods and algorithms are analyzed. The system modelling as well as simulation results are presented. Dr. N. Prakash "Performance Enhancement of DC Load and Batteries in Photovoltaic System" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-3 , April 2019, URL: https://www.ijtsrd.com/papers/ijtsrd21638.pdf
A Comparative Study of Low Cost Solar Based Lighting System and Fuel Based Li...IJMER
International Journal of Modern Engineering Research (IJMER) is Peer reviewed, online Journal. It serves as an international archival forum of scholarly research related to engineering and science education.
Colonel Joseph A. Simonelli, Jr. outlined Fort Bliss's goal of becoming a net zero installation for energy, water, and waste by 2018. He discussed how Fort Bliss has already implemented small-scale renewable energy projects, reducing greenhouse gas emissions and annual costs. However, he emphasized that large-scale renewable projects are now needed to meet energy independence targets. The Colonel proposed a "20/20" concept of pairing 20MW of solar and 20MW of natural gas generation for reliable renewable energy. He acknowledged challenges around regulations, costs, and approval processes, but expressed Fort Bliss's commitment to overcoming hurdles to achieve the Army's net zero mission.
[Challenge:Future] Renewable Energy for the Bottom of the PyramidChallenge:Future
This document summarizes a renewable energy project in India that aims to provide electricity to unelectrified areas. The team leader's dream job is to tackle the global energy crisis through sustainable renewable energy solutions. They plan to identify and implement renewable technologies appropriate for developing areas. Their goals are to employ and train local people, use monitoring systems, and collaborate with financial institutions to support micro-businesses powered by electricity. Examples of technologies discussed include biomass, wind, solar, and tidal/ocean current installations across Asia, Africa, and South America. The impact of their work is outlined through 2040 in increasing energy access, employment, incomes and reducing emissions. The team leader's education in innovation, problem-solving, communication and experience
The document analyzes the potential for renewable energy sources to meet electricity and total energy demand in peninsular Spain by 2050. It finds that renewable sources could generate over 56 times the required electricity and over 10 times the total energy demand, with solar and wind providing most of the potential. A 100% renewable mix is technically feasible with widespread distribution of resources. While challenging, transitioning to renewables could solve climate change by substituting them for fossil fuels.
Forecasting Solar Power by LSTM & DBN Techniques using MLIRJET Journal
This document discusses using machine learning techniques like Long Short-Term Memory (LSTM) and Deep Belief Networks (DBN) to forecast solar power generation. It analyzes pure datasets on solar panel output, weather, and air pollution to extract features. An Autoencoder-LSTM model is proposed that uses the autoencoder for feature learning and LSTM to incorporate temporal data. The model is trained on extracted features and forecasts are compared to actual data to evaluate performance. Accurate solar power forecasting can improve energy grid stability and reduce operational costs.
Design a Highly Efficient Push-Pull converter for Photovoltaic ApplicationsEklavya Sharma
Design a schematic to extract maximum obtainable solar power from a PV module and use the energy for a DC application. This project investigates in detail the concept of Maximum Power Point Tracking (MPPT) which significantly increases the efficiency of the solar photovoltaic system.
Modeling and Simulation of Solar Photovoltaic Systemijtsrd
Solar energy is a vital untapped resource in a tropical country like ours. The main hindrance for the penetration and reach of solar PV systems is their low efficiency and high capital cost. The efficiency of solar PV is very low. In order to increase the efficiency, Maximum Power Point Tracking (MPPT) techniques are to be undertaken to match the source and load property. These techniques are employed in PV systems to make full utilization of PV array output power. Recently, many MPPT algorithms of PV system have been proposed which depends on solar irradiation and temperature, but perturb and observe (P&O) and Incremental conductance algorithms are basic and most widely used. This project firstly introduces a Mat lab Simulink of photovoltaic array. To achieve the maximum power point tracking the Incremental Conductance method and perturb and observed (P&O) method are used. These two algorithms are employed with PV model along with converter in Mat lab Simulink. Three different converter boost, buck boost and cuk converter are design according to requirement and used. Few comparisons such as voltage, current and power output for each different combination have been recorded. Irfan Khan | Ameen Uddin Ahmad"Modeling and Simulation of Solar Photovoltaic System" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-1 | Issue-6 , October 2017, URL: http://www.ijtsrd.com/papers/ijtsrd5743.pdf http://www.ijtsrd.com/engineering/electrical-engineering/5743/modeling-and-simulation-of-solar--photovoltaic-system/irfan-khan
Business Forum: Nuclear & Renewable Energy - Brownsustg
Presentation at the US-Saudi Business Opportunities Forum (Dec 5-7, 2011, Atlanta, GA). Jim Brown, President, Global Sales First Solar, presented at the panel titled, "Nuclear and Renewable Energy: Building Resources for the Future." His presentation was called "Solar PV: A Critical Component of KSA’s Energy Sollution.
ZBB Energy Corporation Presentation November 2008 Compressedkathleenunger
This investor presentation provides an overview of ZBB Energy Corporation and its zinc-bromide flow battery technology. ZBB aims to become a leader in large capacity energy storage solutions to address grid stability issues from renewable energy intermittency. Its modular ZESS products offer efficient and cost-effective energy storage in 50kWh or 500kWh systems. ZBB believes its technology is well-positioned to benefit from projected growth in alternative energy generation and the need for storage solutions. The company has over $8 million in cash and no debt on its balance sheet.
This document describes a simulation of an intelligent maximum power point tracking technique for a photovoltaic module using MATLAB/Simscape. It begins with an introduction to renewable energy and solar energy. It then discusses modeling of a photovoltaic cell and solar panel in Simscape. Two maximum power point tracking techniques are developed and compared: perturb and observe and a new fuzzy logic based method. Simulation results show the fuzzy logic approach provides more stable power output.
Comparison of power output from solar pv panels with reflectors and solar tra...Alexander Decker
The document compares the power output of a solar PV panel with diffuse reflectors and a solar tracker. An experiment was conducted where readings were taken simultaneously from the panel with reflectors and the panel with a tracker. The results found that the panel with reflectors generated higher power output from 11am to 2pm, while the panel with a tracker generated higher power at other times. However, the average daily power output of the two systems was about the same. Considering the higher cost and complexity of the tracking system, the diffuse reflector system was determined to be the better overall option.
IJRET : International Journal of Research in Engineering and Technology is an international peer reviewed, online journal published by eSAT Publishing House for the enhancement of research in various disciplines of Engineering and Technology. The aim and scope of the journal is to provide an academic medium and an important reference for the advancement and dissemination of research results that support high-level learning, teaching and research in the fields of Engineering and Technology. We bring together Scientists, Academician, Field Engineers, Scholars and Students of related fields of Engineering and Technology.
Thomas Leyden, Managing Director of SunPower, Corporation, discusses some of his company's large-scale commercial solar projects and the driving forces behind them.
This presentation was given December 4, 2009 at the Solar Energy Focus Conference: Fall 2009 hosted by the Maryland, DC, Virginia Solar Energy Industries Association (MDV-SEIA) in Gaithersburg, MD.
To learn more please visit:
www.mdvseia.camp7.org
The Solar Future DE - Bruce Sohn "By 2013, will it have been possible to achi...Paul van der Linden
This document discusses First Solar's strategy to transition solar markets to sustainability. It aims to reduce solar electricity costs through technology development, operational excellence and scale. First Solar uses price adaptive business models and partnerships to expand markets. Its goal is to become the low cost provider of solar electricity globally and maintain financial discipline to ensure superior returns. First Solar also discusses growth opportunities in transitioning solar markets in regions like the US, India, China and opportunities in sustainable markets by 2020-2050 time frame.
This document provides details about a graduation project on designing a photovoltaic system. It includes an introduction to solar photovoltaic technology and solar radiation in Palestine. Some key points covered are:
- Palestine has high solar potential with over 2800 sunshine hours per year and average daily solar radiation of 5.46 kWh/m2.
- Components of a photovoltaic system include solar modules, charge controllers, inverters, batteries and loads.
- Types of photovoltaic cells include crystalline (mono and polycrystalline) and thin film technologies like CIGS, CIS and CdTe.
- Factors that affect solar energy generation are solar radiation and temperature
Solar Photovoltaic Materials & the State of Solar in the U.S.T. R. Ramachandran
The document provides an overview of solar photovoltaic materials and the state of solar energy in the U.S. It discusses how solar cells work and the history of solar cell sales, prices, and efficiencies. It also examines how Germany and Japan were able to make solar work through policies like incentives and renewable energy standards, while the U.S. has lagged behind despite having good solar resources. For the U.S. to better utilize its solar potential, the document suggests focusing on R&D, incentives, grid connections, net metering, and pricing that encourages solar adoption.
1. The document discusses biomass energy resources and technologies in China. It finds that biomass currently accounts for about 13% of China's primary energy, and 22% in rural areas.
2. It identifies the main biomass resources as agricultural and forestry residues, animal manure from large-scale livestock farms, and municipal solid waste. It estimates that in 1998, China generated over 800 million tonnes of agricultural and forestry residues alone, equivalent to over 12,000 PJ of energy.
3. However, most biomass is currently used inefficiently through direct combustion, resulting in indoor air pollution, health impacts, and loss of time collecting fuels. The document argues modern biomass technologies could
Light and heat from the sun is the most abundant energy source on earth.The solar energy that hits our planet’s surface in one hour is about equal to the amount of energy consumed by all human activities in a year. Moreover, electricity generated by solar power is emission-free and can help mitigate climate change as well as reduce our dependence on finite carbon-based energy sources.
ABB offers a range of solutions that not just help capture the sun’s rays in the most effective manner but also help achieve grid parity.
Solar Thermal System Applications in UAEmuratironmoon
This document discusses solar thermal systems and their design and applications in the United Arab Emirates. It provides information on Viessmann as a company and manufacturer of solar thermal collectors and systems. It then covers topics such as solar energy resources in the UAE, types of solar thermal collectors produced by Viessmann, system design considerations, examples of large scale solar thermal installations in the UAE, and the importance of good engineering design and installation for solar energy systems.
Performance Enhancement of DC Load and Batteries in Photovoltaic Systemijtsrd
To avoid the pollution and to save the non conventional resources, use of renewable energy sources such as wind energy, bio gas, hydro and solar potential has increased and become essential to adopt a low cost generating system in remote areas. Besides the variety of energy sources, solar power advantages are easy to make apparent compared to other methods. For many years, solar energy is the series source of vast amounts of freely available energy, but modern technology has harnessed it. In this paper a proper battery charge controller used in the Standalone Photovoltaic PV system. The power is transfer to the dc load and manages storage level available in this proposed technique. From the PV array the maximum power is extracted by using three different methods. In this proposed technique ‘perturb and observe' and the ‘incremental conductance' control methods and algorithms are analyzed. The system modelling as well as simulation results are presented. Dr. N. Prakash "Performance Enhancement of DC Load and Batteries in Photovoltaic System" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-3 , April 2019, URL: https://www.ijtsrd.com/papers/ijtsrd21638.pdf
A Comparative Study of Low Cost Solar Based Lighting System and Fuel Based Li...IJMER
International Journal of Modern Engineering Research (IJMER) is Peer reviewed, online Journal. It serves as an international archival forum of scholarly research related to engineering and science education.
Colonel Joseph A. Simonelli, Jr. outlined Fort Bliss's goal of becoming a net zero installation for energy, water, and waste by 2018. He discussed how Fort Bliss has already implemented small-scale renewable energy projects, reducing greenhouse gas emissions and annual costs. However, he emphasized that large-scale renewable projects are now needed to meet energy independence targets. The Colonel proposed a "20/20" concept of pairing 20MW of solar and 20MW of natural gas generation for reliable renewable energy. He acknowledged challenges around regulations, costs, and approval processes, but expressed Fort Bliss's commitment to overcoming hurdles to achieve the Army's net zero mission.
[Challenge:Future] Renewable Energy for the Bottom of the PyramidChallenge:Future
This document summarizes a renewable energy project in India that aims to provide electricity to unelectrified areas. The team leader's dream job is to tackle the global energy crisis through sustainable renewable energy solutions. They plan to identify and implement renewable technologies appropriate for developing areas. Their goals are to employ and train local people, use monitoring systems, and collaborate with financial institutions to support micro-businesses powered by electricity. Examples of technologies discussed include biomass, wind, solar, and tidal/ocean current installations across Asia, Africa, and South America. The impact of their work is outlined through 2040 in increasing energy access, employment, incomes and reducing emissions. The team leader's education in innovation, problem-solving, communication and experience
The document analyzes the potential for renewable energy sources to meet electricity and total energy demand in peninsular Spain by 2050. It finds that renewable sources could generate over 56 times the required electricity and over 10 times the total energy demand, with solar and wind providing most of the potential. A 100% renewable mix is technically feasible with widespread distribution of resources. While challenging, transitioning to renewables could solve climate change by substituting them for fossil fuels.
Forecasting Solar Power by LSTM & DBN Techniques using MLIRJET Journal
This document discusses using machine learning techniques like Long Short-Term Memory (LSTM) and Deep Belief Networks (DBN) to forecast solar power generation. It analyzes pure datasets on solar panel output, weather, and air pollution to extract features. An Autoencoder-LSTM model is proposed that uses the autoencoder for feature learning and LSTM to incorporate temporal data. The model is trained on extracted features and forecasts are compared to actual data to evaluate performance. Accurate solar power forecasting can improve energy grid stability and reduce operational costs.
Design a Highly Efficient Push-Pull converter for Photovoltaic ApplicationsEklavya Sharma
Design a schematic to extract maximum obtainable solar power from a PV module and use the energy for a DC application. This project investigates in detail the concept of Maximum Power Point Tracking (MPPT) which significantly increases the efficiency of the solar photovoltaic system.
A Review Paper On Solar Energy-Generated ElectricityBryce Nelson
This document provides a review of solar energy-generated electricity. It discusses how solar panels convert sunlight into direct current electricity and the various components of solar power systems, including solar panels, charge controllers, batteries, and inverters. It also examines different types of solar cells and panels, as well as concentrating solar technologies like parabolic troughs, Fresnel reflectors, and central receivers. The document outlines the benefits of solar energy such as reducing energy bills, simple installation, and being environmentally friendly.
Feasibility Study of Modified Quasi Z Source Inverter for Solar PV Technologyijtsrd
In recent years, Photovoltaic PV power generation systems have always been considered as an alternative energy source that can lighten the rapid consumption of fossil fuels. The current developments in the photovoltaic materials and power converters has emerged this as promising technology. A PV inverter is widely used to convert the photovoltaic energy into electrical energy as most of the demands are in AC voltage, either for local loads or supplied into the grid. Power converter topologies employed in the PV power generation systems are mainly characterized by single or multi stage inverters. The Z-source inverter ZSI has a single stage structure to achieve the voltage buck boost character in a single power conversion stage. The energy storage device integrated to Quasi Z-source inverter QZSI topology eliminates need for an extra charging circuit. This upgraded topology acquires the operating characteristics from the traditional ZSI, along with the capability of operating under very low PV power conditions. Its main operating points are classified into two modes, the low PV power mode, where the battery is discharged and the high power mode, where the battery is charge up. An extended input power operating range is achieved since the lack of Photovoltaic power can be compensated by the battery. Hence we can conclude that QZSI realize boost buck function in a single-stage with improved reliability, lower component rating, constant DC current from source and good power quality showing an efficient method for the energy-stored PV power generation Shwetha S Baligar | Chandrika S Kukanur | Chaitanya Krishna Jambotkar "Feasibility Study of Modified Quasi Z Source Inverter for Solar PV Technology" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-6 , October 2018, URL: http://www.ijtsrd.com/papers/ijtsrd18839.pdf
Welcome to International Journal of Engineering Research and Development (IJERD)IJERD Editor
This document summarizes a research paper on developing a hybrid solar-wind power system for generating electricity in remote areas. The system combines photovoltaic solar panels and a small wind turbine to harness renewable energy from the sun and wind. Electricity from both sources is regulated by a controller and stored in batteries. The controller can also invert the DC current to AC for powering loads. The hybrid setup was tested in both manual and automatic modes, with the latter controlled by a microcontroller. The system aims to provide a reliable electricity source for powering infrastructure in areas not connected to the electric grid.
Report on the IMPROVING THE EFFICIENCY OF SOLAR PHOTOVOLTAIC POWER GENERATION...Yuvraj Singh
The document is a seminar report on improving the efficiency of solar photovoltaic power generation. It discusses several ways to improve efficiency, including improving the conversion efficiency of solar panels, using automatic solar tracking systems, implementing maximum power point tracking technology, and exploring complex photosynthesis mechanisms. The report analyzes these methods and concludes that using these technologies can effectively improve the efficiency of solar power generation.
Solar power is the conversion of sunlight into electricity, through directly using photovoltaic (PV). Photovoltaic convert light into electric current using the photoelectric effect.
The document summarizes a training session held by Kyocera and MyGen in November 2010. It includes introductions, an agenda covering photovoltaics, Kyocera products, the MyGen system, and a hands-on installation session. Key details provided include Kyocera's long history and financial strength, its solar module production capabilities, quality testing processes, and real-world performance data from its 25+ year old solar installation in Japan.
This document discusses the design and analysis of a hybrid power generation system using both a vertical axis wind turbine and solar tracking technology. It aims to maximize electrical output through developing a mechanism that varies the position of the vertical axis wind turbines according to wind conditions and uses sensors and a microcontroller to actively track the sun and adjust the solar panel positioning accordingly. The system is intended to provide a reliable and efficient renewable energy solution that reduces costs and space requirements compared to standalone vertical axis wind or solar systems.
IRJET- Analysis and Implementation of Super Capacitors as a Storage Device in...IRJET Journal
This document analyzes and implements the use of super capacitors as a storage device in standalone photovoltaic systems. It presents a 300W standalone PV system simulated using MATLAB/Simulink. The system can use either batteries or super capacitors for energy storage. Simulation results show the voltage and power output from the PV array with constant and time-varying solar irradiance. Using super capacitors provides better performance than batteries due to their higher power density and shorter charging time.
Comparison of Solar Energy System with Conventional Power System : A Case Stu...IRJET Journal
The document compares the solar energy system at Giani Zail Singh Campus College of Engineering and Technology (GZSCCET) in Bathinda, India to the conventional power system. It finds that adopting solar power for the campus would make it a leader in clean energy development in India. The study surveys all campus buildings such as hostels, cafeterias, workshops and labs to determine monthly electricity consumption. It then sizes solar photovoltaic installations on available rooftops to meet 100% of the campus' electricity needs, thereby eliminating pollution from conventional sources. Key factors like solar intensity, panel placement and shadowing are considered to identify suitable rooftop sites.
IRJET- Energy Production in Smart HousesIRJET Journal
1) The document discusses a system for energy production in smart homes that uses solar, battery storage, and micro hydro power.
2) Solar panels convert sunlight to electricity which is stored in batteries and used to power a DC motor that lifts water to an overhead tank.
3) The flowing water then spins a micro hydro turbine connected to a generator, producing more electricity that is stored in the batteries.
4) This renewable energy system provides a self-sustaining source of power for household needs and is more efficient than relying solely on solar power.
The document examines the average monthly electricity consumption in the DCPE building area. It analyzes electricity bill records from 2018 for the larger "workshop region" that includes DCPE. This region has a total area of 19,254.99 sqm while the DCPE area is 4,698.26 sqm. To estimate DCPE's monthly consumption, the document calculates the ratio of the two areas and applies it to the workshop region's average monthly consumption of 84,931 kWh. This approach allows estimating DCPE's electricity usage based on its portion of the overall workshop area.
How Solar Panels Work A Comprehensive Guide.pptxSaraKurian3
Discover the inner workings of solar panels in our comprehensive guide. From capturing sunlight to powering your home, delve into the fascinating world of solar energy generation.
Report on the IMPROVING THE EFFICIENCY OF SOLAR PHOTOVOLTAIC POWER GENERATION...Yuvraj Singh
The document discusses various ways to improve the efficiency of solar photovoltaic power generation. It outlines how improving the conversion efficiency of solar cells, implementing solar tracking systems, utilizing maximum power point tracking technology, and researching new types of solar cells can enhance efficiency. Critical components of grid-tied solar inverter systems are also investigated to efficiently operate solar power systems. The goal is to identify areas for improving solar cell efficiency beyond the typical 10-20% range through techniques like optimizing light absorption and reducing parasitic resistance losses.
Construction of Solar Panel Laying System based on Genetic AlgorithmDr. Amarjeet Singh
Solar power generation is an important energy
resource in most countries. It plays an important role in
meeting energy demand, improving energy structure and
reducing environmental pollution. The main carrier of solar
power generation is solar panels, but the utilization efficiency
of most existing solar cells is low, which causes serious waste
of solar energy. In response to this phenomenon, we propose a
Solar Panel Laying System(SPLS) based on genetic
algorithm(GA) to construct solar panels, which solves four
problems: the determination of the number of battery
components, the layout of the panels, the selection of the
inverter and the connection of the inverter. In the SPLS ,we
introduce an improved genetic algorithm and multi-objective
optimization solution. Under the double premise that the total
amount of solar photovoltaic power generation is as large as
possible and the cost per unit of power generation is as small
as possible, the quantitative solution of the laying system is
realized.
Gravity Powered Light using Compound Gear SystemIRJET Journal
This document describes a gravity-powered light that generates electricity using a compound gear system and falling mass. The system uses a heavy load suspended above spur gears and a chain drive connected to a DC motor/generator. As the load falls due to gravity, it turns the gears and rotates the generator shaft, producing electricity to power LED lights. The document provides details on the system components, calculations of energy transferred as the load falls, and experimental results showing increased voltage, current and efficiency from the generator with greater load masses. It concludes that gravity power generation could be increased with higher loads but that a suitable mass must be used to maximize lighting time without damaging components. The system provides an off-grid lighting option using a renewable gravitational energy
IRJET- Electrical Energy Generation by using Smart Solar Tracking System ...IRJET Journal
This document describes a system that generates electrical energy using a smart solar tracking system and vertical wind mill. The smart solar tracker changes position to maximize sunlight exposure, while the vertical wind mill is not affected by wind direction. The outputs of these two renewable energy sources are combined and stored in a battery. An inverter then converts the stored DC energy to AC energy to power loads. The system aims to improve efficiency over 30-40% by ensuring the solar panels and wind turbine capture maximum available energy from the sun and wind.
This document discusses the analysis and design of a solar photovoltaic distributed generation system connected to the distribution network. It first introduces distributed generation and the advantages of integrating solar PV systems. It then describes the methodology used for optimally placing and sizing a solar PV system on the 33-bus and 69-bus test feeders to minimize power losses while improving voltage profiles. The results show that a 3.15 MW solar PV system placed at bus 6 of the 33-bus system reduces losses by 95.75 kW. Similarly, a 1.81 MW system at bus 61 of the 69-bus feeder reduces losses by 141.6 kW.
"Choosing proper type of scaling", Olena SyrotaFwdays
Imagine an IoT processing system that is already quite mature and production-ready and for which client coverage is growing and scaling and performance aspects are life and death questions. The system has Redis, MongoDB, and stream processing based on ksqldb. In this talk, firstly, we will analyze scaling approaches and then select the proper ones for our system.
Conversational agents, or chatbots, are increasingly used to access all sorts of services using natural language. While open-domain chatbots - like ChatGPT - can converse on any topic, task-oriented chatbots - the focus of this paper - are designed for specific tasks, like booking a flight, obtaining customer support, or setting an appointment. Like any other software, task-oriented chatbots need to be properly tested, usually by defining and executing test scenarios (i.e., sequences of user-chatbot interactions). However, there is currently a lack of methods to quantify the completeness and strength of such test scenarios, which can lead to low-quality tests, and hence to buggy chatbots.
To fill this gap, we propose adapting mutation testing (MuT) for task-oriented chatbots. To this end, we introduce a set of mutation operators that emulate faults in chatbot designs, an architecture that enables MuT on chatbots built using heterogeneous technologies, and a practical realisation as an Eclipse plugin. Moreover, we evaluate the applicability, effectiveness and efficiency of our approach on open-source chatbots, with promising results.
How to Interpret Trends in the Kalyan Rajdhani Mix Chart.pdfChart Kalyan
A Mix Chart displays historical data of numbers in a graphical or tabular form. The Kalyan Rajdhani Mix Chart specifically shows the results of a sequence of numbers over different periods.
What is an RPA CoE? Session 1 – CoE VisionDianaGray10
In the first session, we will review the organization's vision and how this has an impact on the COE Structure.
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• The role of a steering committee
• How do the organization’s priorities determine CoE Structure?
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Chris Bolin, Senior Intelligent Automation Architect Anika Systems
Introduction of Cybersecurity with OSS at Code Europe 2024Hiroshi SHIBATA
I develop the Ruby programming language, RubyGems, and Bundler, which are package managers for Ruby. Today, I will introduce how to enhance the security of your application using open-source software (OSS) examples from Ruby and RubyGems.
The first topic is CVE (Common Vulnerabilities and Exposures). I have published CVEs many times. But what exactly is a CVE? I'll provide a basic understanding of CVEs and explain how to detect and handle vulnerabilities in OSS.
Next, let's discuss package managers. Package managers play a critical role in the OSS ecosystem. I'll explain how to manage library dependencies in your application.
I'll share insights into how the Ruby and RubyGems core team works to keep our ecosystem safe. By the end of this talk, you'll have a better understanding of how to safeguard your code.
Taking AI to the Next Level in Manufacturing.pdfssuserfac0301
Read Taking AI to the Next Level in Manufacturing to gain insights on AI adoption in the manufacturing industry, such as:
1. How quickly AI is being implemented in manufacturing.
2. Which barriers stand in the way of AI adoption.
3. How data quality and governance form the backbone of AI.
4. Organizational processes and structures that may inhibit effective AI adoption.
6. Ideas and approaches to help build your organization's AI strategy.
How information systems are built or acquired puts information, which is what they should be about, in a secondary place. Our language adapted accordingly, and we no longer talk about information systems but applications. Applications evolved in a way to break data into diverse fragments, tightly coupled with applications and expensive to integrate. The result is technical debt, which is re-paid by taking even bigger "loans", resulting in an ever-increasing technical debt. Software engineering and procurement practices work in sync with market forces to maintain this trend. This talk demonstrates how natural this situation is. The question is: can something be done to reverse the trend?
Fueling AI with Great Data with Airbyte WebinarZilliz
This talk will focus on how to collect data from a variety of sources, leveraging this data for RAG and other GenAI use cases, and finally charting your course to productionalization.
For the full video of this presentation, please visit: https://www.edge-ai-vision.com/2024/06/temporal-event-neural-networks-a-more-efficient-alternative-to-the-transformer-a-presentation-from-brainchip/
Chris Jones, Director of Product Management at BrainChip , presents the “Temporal Event Neural Networks: A More Efficient Alternative to the Transformer” tutorial at the May 2024 Embedded Vision Summit.
The expansion of AI services necessitates enhanced computational capabilities on edge devices. Temporal Event Neural Networks (TENNs), developed by BrainChip, represent a novel and highly efficient state-space network. TENNs demonstrate exceptional proficiency in handling multi-dimensional streaming data, facilitating advancements in object detection, action recognition, speech enhancement and language model/sequence generation. Through the utilization of polynomial-based continuous convolutions, TENNs streamline models, expedite training processes and significantly diminish memory requirements, achieving notable reductions of up to 50x in parameters and 5,000x in energy consumption compared to prevailing methodologies like transformers.
Integration with BrainChip’s Akida neuromorphic hardware IP further enhances TENNs’ capabilities, enabling the realization of highly capable, portable and passively cooled edge devices. This presentation delves into the technical innovations underlying TENNs, presents real-world benchmarks, and elucidates how this cutting-edge approach is positioned to revolutionize edge AI across diverse applications.
Northern Engraving | Modern Metal Trim, Nameplates and Appliance PanelsNorthern Engraving
What began over 115 years ago as a supplier of precision gauges to the automotive industry has evolved into being an industry leader in the manufacture of product branding, automotive cockpit trim and decorative appliance trim. Value-added services include in-house Design, Engineering, Program Management, Test Lab and Tool Shops.
Dandelion Hashtable: beyond billion requests per second on a commodity serverAntonios Katsarakis
This slide deck presents DLHT, a concurrent in-memory hashtable. Despite efforts to optimize hashtables, that go as far as sacrificing core functionality, state-of-the-art designs still incur multiple memory accesses per request and block request processing in three cases. First, most hashtables block while waiting for data to be retrieved from memory. Second, open-addressing designs, which represent the current state-of-the-art, either cannot free index slots on deletes or must block all requests to do so. Third, index resizes block every request until all objects are copied to the new index. Defying folklore wisdom, DLHT forgoes open-addressing and adopts a fully-featured and memory-aware closed-addressing design based on bounded cache-line-chaining. This design offers lock-free index operations and deletes that free slots instantly, (2) completes most requests with a single memory access, (3) utilizes software prefetching to hide memory latencies, and (4) employs a novel non-blocking and parallel resizing. In a commodity server and a memory-resident workload, DLHT surpasses 1.6B requests per second and provides 3.5x (12x) the throughput of the state-of-the-art closed-addressing (open-addressing) resizable hashtable on Gets (Deletes).
In the realm of cybersecurity, offensive security practices act as a critical shield. By simulating real-world attacks in a controlled environment, these techniques expose vulnerabilities before malicious actors can exploit them. This proactive approach allows manufacturers to identify and fix weaknesses, significantly enhancing system security.
This presentation delves into the development of a system designed to mimic Galileo's Open Service signal using software-defined radio (SDR) technology. We'll begin with a foundational overview of both Global Navigation Satellite Systems (GNSS) and the intricacies of digital signal processing.
The presentation culminates in a live demonstration. We'll showcase the manipulation of Galileo's Open Service pilot signal, simulating an attack on various software and hardware systems. This practical demonstration serves to highlight the potential consequences of unaddressed vulnerabilities, emphasizing the importance of offensive security practices in safeguarding critical infrastructure.
Freshworks Rethinks NoSQL for Rapid Scaling & Cost-EfficiencyScyllaDB
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Skybuffer SAM4U tool for SAP license adoptionTatiana Kojar
Manage and optimize your license adoption and consumption with SAM4U, an SAP free customer software asset management tool.
SAM4U, an SAP complimentary software asset management tool for customers, delivers a detailed and well-structured overview of license inventory and usage with a user-friendly interface. We offer a hosted, cost-effective, and performance-optimized SAM4U setup in the Skybuffer Cloud environment. You retain ownership of the system and data, while we manage the ABAP 7.58 infrastructure, ensuring fixed Total Cost of Ownership (TCO) and exceptional services through the SAP Fiori interface.
Northern Engraving | Nameplate Manufacturing Process - 2024Northern Engraving
Manufacturing custom quality metal nameplates and badges involves several standard operations. Processes include sheet prep, lithography, screening, coating, punch press and inspection. All decoration is completed in the flat sheet with adhesive and tooling operations following. The possibilities for creating unique durable nameplates are endless. How will you create your brand identity? We can help!
AppSec PNW: Android and iOS Application Security with MobSFAjin Abraham
Mobile Security Framework - MobSF is a free and open source automated mobile application security testing environment designed to help security engineers, researchers, developers, and penetration testers to identify security vulnerabilities, malicious behaviours and privacy concerns in mobile applications using static and dynamic analysis. It supports all the popular mobile application binaries and source code formats built for Android and iOS devices. In addition to automated security assessment, it also offers an interactive testing environment to build and execute scenario based test/fuzz cases against the application.
This talk covers:
Using MobSF for static analysis of mobile applications.
Interactive dynamic security assessment of Android and iOS applications.
Solving Mobile app CTF challenges.
Reverse engineering and runtime analysis of Mobile malware.
How to shift left and integrate MobSF/mobsfscan SAST and DAST in your build pipeline.
AppSec PNW: Android and iOS Application Security with MobSF
Solar Cell Supply Chain
1. Bhavin Shah Asia Pacific Equity Research
(852) 2800-8538 07 January 2008
bhavin.a.shah@jpmorgan.com
Solar cell supply chain
AC
Gokul Hariharan Solar power and solar cell
Shoji Sato Solar cell is a semiconductor device, made from polysilicon, which generates
Carrie Liu electricity by converting the photons from the sun. Solar power, the electricity
produced by solar cell, has received a lot of attention recently in the wake of growing
environmental concerns. Solar power is generated using the sun’s energy—it is clean,
renewable and environment friendly.
Solar cell
Based on a market survey done by the Photon International, the PV industry
worldwide produced 2,536MW of energy in 2006, implying 40% Y/Y growth. We
believe global solar cell production will continue to grow at 25% in the next 5-10
years due to strong support in the form of government subsidies. Extrapolation of the
government’s targets for solar installations indicates a CAGR of 28% from 2005 to
2010 (Figure 122). Currently, Germany, Japan and the US (mainly California) are the
key proponents of solar energy. New initiatives are starting to pick up in China,
Southern European countries and rest of the US.
Figure 122: Global solar cell production
MWp
7,000 6,000
Source: www.motech.com.tw. 5,776
6,000
CAGR: 28%
5,000 4,279
4,000 3,170
2,536
3,000
CAGR: 43% 1,815
2,000 1,256
560 750
1,000 202 287 401
0
1999 2000 2001 2002 2003 2004 2005 2006 2007E 2008E 2009E 2010E
Solar cell production
Source: Photon International, JPMorgan estimates.
Table 138: Features of solar cell systems
· Enormous amount, non depletion, clean.
· Ubiquitous, use waste energy.
Use solar energy
· Low density, depends on meteorological characteristics, no function of
storage.
· Generate from scattered sunlight even if it's a cloudy and rainy day.
· Easy structure, no moving part, easy to use, easy to be unmanned.
Directly convert sunlight into electricity · Change capacity by module units.
· Lightweight and can be used as roof, short construction time.
· Less energy for production, recover in 2-3 years.
· Meet demand in location where power is generated, electric transmission
facility not required.
Distributed system
· Meet daytime energy needs, reduction of load power.
· Diversity of power supply, contributes to a stable supply.
Source: JPMorgan based on NEDO.
Environmental value of solar cell systems
When generating electricity, solar cell systems are clean systems that do not require
fuel, but a large volume of energy is required in their manufacturing process. If a
solar cell system requires more energy for its manufacture than it can generate during
its lifespan, then it is not an efficient form of electricity generation. If the volume of
249
2. Bhavin Shah Asia Pacific Equity Research
(852) 2800-8538 07 January 2008
bhavin.a.shah@jpmorgan.com
CO2 emissions resulting from a solar cell system’s manufacture exceeds the reduction
of emissions it achieves via electricity generation, moreover, then it is
environmentally harmful in terms of global warming. The lifespan energy
profitability and overall CO2 emissions are measured in energy payback time (EPT)
and lifetime CO2 emission units.
EPT is a measure of how many years of operation is required to generate the energy
used in the manufacturing stage, and if this value is smaller than the lifespan of the
system it is profitable in terms of energy. Lifetime CO2 emission units are a measure
of CO2 emissions per 1kWh of electricity generation over the entire lifespan of the
system, and the CO2 emission efficiency of solar cell systems can be compared with
other forms of electricity generation using this value.
We estimate that the EPT for household solar cell systems is approximately 1–1.5
years in Japan and 1–3 years in Europe, which are both very low values compared to
the expected lifespan for solar cell systems of 20 years. Stated differently, solar cell
systems can recoup the energy required for their manufacture in one to three years
after their installation, and thereafter they add value by becoming net energy
producers and enabling lower consumption of fossil fuels.
We estimate that household solar cell systems result in 53g of greenhouse gas
emissions (CO2 equivalent) per 1kWh of electricity generation, with the majority of
this produced during their manufacture. We estimate that commercial power sources
result in 360–378g of greenhouse gas emissions (CO2 equivalent) per 1kWh, and that
thermal electricity generation on average results in 690g, which is more than 10x the
volume of solar cell systems. We thus estimate that the CO2 emission reduction
impact of solar cell systems is 307–637g per 1kWh of electricity generation.
Figure 123: Energy production and CO2 emissions
CO2 emissions/kWh
g-CO2/kWh net output plant and operation fuel combustion to generate pow er
1,000
800
600
887
400 704 478
408
200 53
29 22 15 11
88 130 111
0 38
medium-sized
coal-fired thermal
oil-fired thermal
LNG-fired thermal
LNG-fired thermal
power(combined)
nuclear power
geothermal power
wind power
solar power
small-and-
waterpower
power
power
power
Source: Sangyo-times.
Government incentive for solar power
The Kyoto protocol, established in 1997, sets binding greenhouse gas emission
targets for countries that sign and ratify the agreement. The protocol came into force
in February 2005. Country signatories to the protocol have agreed to reduce their
anthropogenic emissions of greenhouse gases (CO2, CH4, N2O, HFCs, PFCs, and
SF6) by at least 5% below their 1990 levels, between the commitment period of 2008
and 2012. Nevertheless, rising environmental concerns have boosted the global
demand for renewable energy, due to government subsidies.
250
3. Bhavin Shah Asia Pacific Equity Research
(852) 2800-8538 07 January 2008
bhavin.a.shah@jpmorgan.com
According to the European Commission’s “PV Status Report 2006”, the countries
that have made key changes in government policies for solar energy are:
Germany: The German feed-in law was introduced in 1999 and renewed in August
2004, resulting in a dramatic increase in PV installations. In its latest figures, the
German Solar Industry Association reported systems with total of 600MW installed
capacity in 2005.
Other EU countries: Italy has passed new feed-in laws in 2005. According to the “PV
status report 2006”, 50MW to 80MW capacity will be installed in 2006 with an
upper cap of 500MW for 2012. France introduced its feed-in laws in 2006. Spain’s
current cap is 150MW, which is likely to be revised up.
Table 139: Feed-in tariff system in each country
Effective date Feed-in tariffs (2007) Duration Remarks
~30KW: 0.492€/KWh
Incentives will decrease by 5% annually
2000 effective 30KW~100KW: 0.468€/KWh
Germany 20years (6.5% for other than house). 0.05 euro will
2004 revised 100KW~: 0.463€/KWh
be added when set in front of the building.
Except house: 0.380€/KWh
1998 effective ~100KW: 0.414€/KWh After 26 years, 80% of incentives will be
Spain 25years
2004 revised 100KW~: 0.216€/KWh paid.
2001 effective ~5KW: 0.444€/KWh Incentives will finish after 15 years or when
Portugal 15yearrs
2005 revised 5KW~: 0.317€/KWh total electricity reaches 21 GWh.
1KW~20KW: 0.423€/KWh Incentives will decrease by 5% annually.
Italy 2005 effective 20KW~50KW: 0.437€/KWh 20years Incentives are incremented by 10% for
50KW~1000KW: 0.467€/KWh installed in new or restored buildings.
2002 effective Corsica and overseas: 0.40€/KWh 0.55 euro/KWh will be paid when installed
France 20years
2006 revised Other regions: 0.30€/KWh in new or restored buildings.
Incentive system is different between less
For house or Business: 0.03~0.39$/KWh than 100KWh and more than 100KWh and
U.S.A (California) 2007 effective Tax-free: 0.1~0.5$/KWh (more than will be united in 2010. Incentives depend on
100KWh) total electricity (10 steps) and will decrease
by 10% annually.
Source: JPMorgan views based on PV news.
China: The Standing Committee of the National People’s Congress of China
endorsed the Renewable Energy Law on 28 February 2005, which came into effect
on January 1, 2006. The Chinese government targets renewable energy to contribute
to the country’s gross energy consumption at 10% by 2010 and 17% by 2020—a
significant increase from the current 1%. The 2010 plan includes the installation of
450MW photovoltaic systems. Also, the concept of Green Olympics for Olympic
Summer Games in Beijing in 2008 will be a strong catalyst.
US: The 2005 Energy Bill, aimed at increasing the demand for photovoltaics, was
passed by the Senate on July 29, 2005 and was signed by President Bush on August
8, 2005. The main support mechanisms of the bill are: (1) increase in the permanent
10% business energy credit for solar power to 30% for a two-year period. The credit
reverts to the permanent 10% level after two years. (2) Establishment of a 30%
residential energy credit for solar for two years. For residential systems, the tax credit
is capped at US$2,000. In addition, California has the “Million Roof Initiative”
(SB1) for solar energy. The California Solar Initiative (CSI) adopted SB1 in January
2006. It secured a US$3.35 billion long-term solar rebate plan for California to
deploy 3,000MW of solar power systems on residential, commercial and government
buildings throughout the state. In June 2006, SB1 was passed by the California
Assembly.
251
4. Bhavin Shah Asia Pacific Equity Research
(852) 2800-8538 07 January 2008
bhavin.a.shah@jpmorgan.com
Japan: In June 2004, the Japanese Ministry of Economics, Trade and Industry
(METI) announced the “Vision for New Energy Business”. This strategy report aims
at developing an independent and sustainable new energy business with powerful
support measures for PV. Further, in a June 2005 symposium on “Photovoltaic
Generating Systems” titled Beginning of the era of GW PV market”, the director of
the New and Renewable Energy division of METI announced that the mid- to long-
term strategy aims to reduce oil dependency by 40% by 2030. Japan Photovoltaic
vision paper predicts that Japanese domestic market consumption will increase to
1,200MW and exports will increase to 1,000 MW by 2010.
Table 140: Evolution of cumulative solar electrical capacities till 2030
GW
2000 2010E 2020E 2030E
USA 0.14 2.1 36 200
Europe 0.15 3.0 41 200
Japan 0.25 4.8 30 205
Worldwide DCP 1.00 8.6 125 920
Worldwide AIP 1.00 14.0 200 1830
Source: Japanese, US, EPIA roadmaps and EREC 2040 scenarios. Note: DCP stands for Dynamic Current Policy Scenario, AIP
stands for Advanced International Policy Scenario.
Solar cell module market
The 2006 shipment volume of solar cell modules expanded 35.5% Y/Y to 1,870MW.
We estimate a per watt price for solar cell modules at US$3.78, and therefore
estimate a market scale for solar cell modules at US$7.07 billion. Including
installation costs, we estimate a market scale for the solar cell industry at around
US$13 billion. We identify three drivers for the demand for solar cells.
1. The emergence of viable business opportunities owing to price declines and
greater subsidies.
2. Environmental regulations and government subsidies.
3. Increased environmental awareness among individuals.
The shipment volume of solar cell modules expanded at a CAGR of 49.1% between
2000 and 2006. The annual growth rate was in excess of 50% up to 2004, but growth
then slowed to 29.9% in 2005 and 35.3% in 2006. We attribute the slowing to factors
including: (1) a supply shortage for the main raw material, polysilicon, and (2) a
decline in subsidies in Japan, which made up 24.1% of global demand in 2004. We
expect the supply volume of polysilicon to expand from 2H 2008, thereby removing
one factor holding back the production volume of solar cell modules. Furthermore,
countries in addition to Germany have started to introduce subsidies for solar cells as
part of their measures to counter global warming, including the US and European
countries like Spain, Italy, France and Portugal. We expect increased supply volume
for polysilicon and greater subsidies to boost shipments of solar cells, and we believe
that 2010 shipments will even exceed the optimistic projection shown in Figure 125.
This optimistic projection assumes that shipments of solar cell modules will expand
at a CAGR of 46.7% from 2007 to reach 8,600MW in 2010. Even if the module price
falls to $1.79 per watt by 2010, it would still result in a market scale of $15.51 billion
in 2010, representing growth of 120% from the market in 2006.
We believe that changes in the supply/demand balance for polysilicon from 2H 2008
will boost the supply of solar cell modules, and cause their prices to fall. If the price
of solar cell modules falls substantially, earnings at companies involved in solar cell
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5. Bhavin Shah Asia Pacific Equity Research
(852) 2800-8538 07 January 2008
bhavin.a.shah@jpmorgan.com
manufacturing could suffer. A war of attrition caused by falling prices could
therefore break out between 2H 2008 and around 2010. Nevertheless, lower prices
for solar cell modules should boost demand, and we foresee a major opportunity for
substantial earnings growth through 2020 at companies involved in solar cells that
survive the war of attrition or succeed in greatly lowering their manufacturing costs.
Figure 124: Solar cell module market demand by region Figure 125: Global solar cell module market demand
MW MW
2,000 10,000
8,000
1,500
6,000
1,000
4,000
500 2,000
0 0
CY2000 2001 2002 2003 2004 2005 2006 CY2000 2002 2004 2006 2008E 2010E
Europe Japan US/CANADA ROW DOWNSIDE UPSIDE BASE CASE
Source: PV news, July 2007. Source: PV news, July 2007.
Historical production volume of solar cells
The global production volume of solar cells expanded 40.3% Y/Y in 2006 to
2,500MW. According to PVnews, 2007 solar cell production is expected to be 5,523
MW. In regional terms, Japan was responsible for 927.5MW or 37.1% of overall
production in 2006, but Japanese production only expanded 11.3% Y/Y. In contrast,
production outside of Japan, the US and Europe expanded 121.4% to 714MW in
2006, with Chinese and Taiwanese companies mainly being responsible for this
growth. Among the top ranked companies, growth at Japanese companies was
limited by difficulties in procuring enough silicon, and the end of government
subsidies in Japan. Meanwhile, growth was very rapid at Q-Cells (Germany),
Suntech (China) and Motech (Taiwan).
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7. Bhavin Shah Asia Pacific Equity Research
(852) 2800-8538 07 January 2008
bhavin.a.shah@jpmorgan.com
Types and characteristics of solar cells
The most important characteristics of solar power generation systems are their usable
lifespan, and the efficiency at which they convert light into electricity. Both the light
conversion efficiency and the lifespan depend upon the solar cell, which is the most
important part of solar power generation systems.
Conversion efficiency (%) = (electrical energy output ÷ solar energy input) x 100
The module conversion efficiency value of solar cells systems currently under mass-
production is usually in the range of 10–19%. The module conversion efficiency
value varies according to the type of solar cell, with normal values of 15–20% for
monocrystalline silicon solar cells, 12–18% for polycrystalline silicon cells, and 8–
12% for amorphous silicon cells.
Solar cells can be broadly divided into silicon cells and thin-film, with 93.2% of
2006 production volume being made up of silicon cells.
Figure 128: Type of solar cell and production ratio (2006)
Source: PV news, JPMorgan estimates.
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Monocrystalline silicon
Semiconductors are also made from monocrystalline silicon wafers, and the
respective manufacturing methods are the same in many respects. Very pure
monocrystalline silicon wafers are expensive, but the purity requirements are lower
for solar cell applications than for semiconductor applications, and lower-priced solar
grade (SoG) silicon can therefore be used.
Amorphous Silicon (a-Si)
Amorphous silicon is deposited by chemical vapor deposition (CVD) using silane
gas. The resulting solar cells are highly efficient even in very low levels of light, and
sensitive to the shorter wavelength light produced by artificial illumination. They are
therefore mainly used in electronic calculators and wristwatches. Makers have been
overcoming the tendency to deteriorate in sunlight, and in recent years they have
been marketed for outdoor use.
Polycrystalline silicon
Polycrystalline silicon is currently used in the mainstream type of solar cell, owing to
lower production costs than monocrystalline silicon. Polysilicon solar cells use
wafers sliced from ingots cast using silicon melted in a crucible. These ingots are not
formed from a single crystal, unlike monocrystalline silicon which is slowly built up
by revolving a seed crystal. The ingots can also be cast in a square shape, instead of
the cylinders of monocrystalline silicon.
Trends in polycrystalline silicon for solar cells
Polycrystalline silicon (polysilicon) is an important raw material for solar cells, and
is also used to make semiconductor wafers. Supply/demand conditions for
polysilicon have remained tight since 2004, owing to rapid expansion in the solar cell
market, combined with steady market growth in semiconductor applications,
especially for 300mm wafers. Over the past few years, the ability to secure stable
supplies of polysilicon has therefore been a decisive factor for market share and
competitiveness among solar cell makers. Is this situation likely to persist?
The top company in the global polysilicon market is Hemlock Semiconductor (US),
where we estimate a production capacity of roughly 10,000t/year as of end-2006. We
then estimate that Wacker Chemie (Germany) holds the second rank with an annual
capacity of approximately 6,500t, followed by Tokuyama in third with 5,300t, and
REC (Norway) in fourth with 5,250t. We estimate that the overall industry has an
annual production capacity of around 37,000t.
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Figure 129: Market share of polysilicon (based on production units in 2006)
Sumitomo Others
2.2% 4.0%
Mitsubishi Materials Hemlock
8.1% 27.0%
MEMC
12.7%
REC
14.2% Wacker
17.5%
Tokuyama
14%
Source: PV news, JPMorgan estimates.
Turning to the demand side, demand for semiconductor wafers appears to be around
23,000t for 2006, and demand for polysilicon used in solar cells around 17,000t,
making a total of around 40,000t. This demand figure is higher than the production
capacity figure we estimate above, but we surmise that part of the 23,000t of
polysilicon shipped for use in semiconductor wafers becomes scrap, which is then
reused for solar cell applications.
Solar cell makers were very keen to secure polysilicon supplies during 2006, to the
extent that a scramble for polysilicon ensued at times. The polysilicon makers have
responded with aggressive and sustained capital investment. We expect the world’s
biggest maker, Hemlock, to expand its production from 10,000t/year at present to
36,000t/year in 2010. We also expect Wacker Chemie to raise its production from
6,500t/year at present to 10,000t/year by end-2007. Table 142 displays the bullish
plans to expand production capacity at the other leading makers. We estimate that
these efforts will increase the aggregate production capacity for polysilicon at the
leading makers from 37,000t/year in 2006 by 150% or so to 92,000t/year in 2010.
Table 142: Production capacity plans of major polysilicon makers
Tons
2006 2007 2008 2009 2010
Hemlock 10,000 10,250 14,500 19,500 36,000
Wacker 6,500 10,000 10,000 10,000 14,500
Tokuyama 5,300 5,300 5,500 7,000 8,400
MEMC 4,600 6,200 8,500 8,500 8,500
REC 5,250 5,633 6,667 10,350 13,450
Mitsubishi 3,000 3,150 3,350 3,550 3,550
Sumitomo 800 955 1,155 1,225 1,250
Others 1,500 2,000 5,500 6,000 6,500
Total 36,950 43,488 55,172 66,125 92,150
Source: PV news, JPMorgan estimates.
Although they are not represented in Table 142, several companies have already
declared their intention to enter the polysilicon market. If they all proceed as planned
this could boost aggregate production capacity by several tens of thousands of tons
by 2010, but we regard this as an uncertain prospect. The following estimates of the
supply/demand balance of polysilicon are based solely on the production capacity
values shown in Table 142. We therefore recommend bearing in mind that new
entrants could boost the supply capacity of polysilicon beyond our estimates.
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Table 143: Expected newcomers in polysilicon making (Excerpt)
Company Country
M. Setek Japan
JSSI Germany
SolarValue Slovenia
Silicium Becancour US
Hoku Scientific US
AE Polysilicon US
SolarWorld USA US
Source: PV news, JPMorgan estimates.
The higher prices fetched by polysilicon used for semiconductor wafers usually
result in prioritization of supply for this application, with the remainder being
supplied for solar cell applications. However, some of the polysilicon shipped for use
in semiconductor wafers becomes scrap, which is then reused for solar cell
applications. We estimate that demand for silicon used in semiconductor wafers will
expand at an annual rate of 10% from the base of 23,000t/year in 2006. As such, we
also estimate that the production volume of polysilicon available for solar cell
applications will reach around 62,000t/year in 2010, including the polysilicon scrap
recycled from semiconductor applications. Moreover, we expect the production
volume of thin-film solar cells to gradually expand from 2007, further boosting the
overall supply capacity in raw materials.
Table 144: Polysilicon production forecasts for solar cell (excluding thin film)
Tons
2006 2007E 2008E 2009E 2010E
Poly Silicon Production Volume 36,950 43,488 55,172 66,125 92,150
Consumption for Silicon Wafer 23,000 25,300 27,830 30,613 33,674
Production Volume for Solar 13,950 18,188 27,342 35,512 58,476
Poly Silicon Recycled from Wafer 2,300 2,530 2,783 3,061 3,367
Total for Solar (ton) 16,250 20,718 30,125 38,573 61,843
Source: JPMorgan estimates.
As mentioned earlier, a mid-range projection of solar cell demand in 2010 is in the
region of 6,500MW/year. Meanwhile, the lower and upper limits of the projected
range are 4,300MW/year and 8,600MW/year, respectively.
When combining the supply volume of polysilicon for solar cells and thin-film solar
cells, and converting into a cell basis allowing for energy conversion efficiency rates,
we estimate a supply capacity in 2010 equivalent to 8,100MW. The assumption we
used for conversion efficiency is that the average conversion efficiency value of
11g/W in 2006 will improve by 0.5g/W each year.
Based on the foregoing, our projections of the polysilicon supply/demand balance for
solar cell applications up to 2010 are illustrated in Figure 130. Given also the
possibility that market entrants further boost supply capacity by 2010, we see a
theoretical possibility of the supply of polysilicon for solar cell applications
exceeding demand by 2010.
Nevertheless, the leading makers of solar cells have responded to the current severe
shortage of polysilicon by forming long-term agreements with the leading
polysilicon makers, and these contracts look likely to last the next five years or so, or
until around 2012. As such, even if the supply capacity of silicon for solar cells
exceeds demand, we believe that effects would not emerge until the expiry of the
major suppliers’ long-term contracts around 2012.
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Furthermore, we think that the new entrants to the polysilicon market lacking long-
term supply contracts face the risk of business volatility increasing. The long-term
contracts formed between the leading polysilicon makers and solar cell makers
would insulate them from the affect of price fluctuations if supply/demand conditions
loosen. However, these contracts would at the same time amplify the effect of looser
supply/demand on the spot market inhabited by the newer polysilicon makers.
Figure 130: Supply demand balance simulation of poly silicon for solar cell
Ton
10,000 Total Supply
Demand (Upsede)
9,000
Demand (BaseCase)
8,000 Demand (Down Side)
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
2006 2007 2008 2009 2010
Source: JPMorgan estimates.
Table 145: Supply demand balance simulation of poly silicon for solar cell
2006 2007E 2008E 2009E 2010E
Poly Silicon Supply (ton) 16,250 20,718 30,125 38,573 61,843
Poly Silicon Supply (Cell Eqv.) (MW) 1,477 1,973 3,013 4,060 6,871
Translation Efficiency(g/MW) 11 10.5 10 9.5 9
Solar Module Production Volume (MW) 1,211.40 1,618.00 2,470.30 3,329.50 5,634.60
Cell-Module Yield 82% 82% 82% 82% 82%
Thin Film Production Volume MW) 196 463 1,115 1,894 2,496
Total Supply (MW) 1,407 2,081 3,585 5,223 8,131
Solar Module Demand MW)
Downside 1,870 2,302 2,900 3,540 4,302
Base Case 1,870 2,446 3,341 4,631 6,458
Upside 1,870 2,705 3,898 5,694 8,664
(Total Supply - Base Case) -463 -365 244 593 1,673
Source: JPMorgan estimates.
Scrap semi-wafers are not sustainable
Solar cell manufacturers desperately seek substitutes for the standard solar silicon
wafers. 6” and 8” scrap wafers from the semiconductor industry are the most sought-
after items. However, according to our channel checks, 320-360k pieces of 8” scrap
wafers are required to produce 1MW of annual solar cell output. This figure is
similar to the annual capacity of an 8” semi-wafer fab. Therefore, the maximum
worldwide annual solar cell output using scrap wafers is only 35MW, equivalent to
2% of worldwide solar cell production in 2005. In addition, it requires additional
processes to make use of scrap semi-wafers and the output quality is still an issue.
We believe the market has overestimated the potential of using scrap wafers as raw
materials for solar cell production.
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Passing on the increase in material prices to customers is difficult
The surging polysilicon price raised the material cost for the whole solar power
supply chain, while the solar module prices have stabilized in the past three months.
The spot price of an 8” ingot rose significantly from US$130/kg in early 2005 to
>US$250/kg as of now, a 54% increase. The ASPs of solar wafers, cells and modules
have reached US$2.1-2.3/W, US$3-3.2/W, and US$4-4.2/W, respectively, while the
industry believes that the acceptable module prices should be capped at US$4/Wp
due to limitations of government subsidies. China is the only exception. The module
price could reach US$4.2/W because of the Chinese government’s policy.
Wafer producers expect another 10% price hike in wafers in 2006, while the
cell/module producers’ face severe pricing pressure from explosive competition from
new entrants and limited government support.
Potential of thin-film solar cells
Attention is focusing on thin-film solar cells as a means of escaping the limitations of
polysilicon supply capacity and high costs. The production of thin-film solar cells in
2006 at 196MW made up 8% of overall solar cell production, up substantially from
5.8% in 2005 and 5.3% in 2004. The types of thin-film solar cells include amorphous
silicon (a-Si), cadmium telluride (CdTe), Copper indium gallium selenide (CIGS)
compounds, and dye-sensitized cells.
The drawbacks of thin-film solar cells include an energy conversion efficiency of
only around 10%, compared to rates generally in excess of 15% for solar cells based
on silicon wafers. Furthermore, the production equipment costs of thin-film solar
cells are high. Nevertheless, we see a real possibility of thin-film solar cells
becoming strongly competitive, if their conversion efficiency is improved and their
manufacturing equipment costs are brought down via mass production. On the other
hand, we have doubts whether thin-film solar cells would maintain an advantage over
silicon wafer-based cells if the supply of polysilicon becomes abundant, or if
polysilicon costs fall as a result of mass production using new methods, such as the
metallurgic process, the vapor to liquid deposition process or the zinc reduction
process.
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Figure 131: Thin-film solar cell production (actual and forecast)
MV
3,000
2,500
2,000
1,500
1,000
500
0
CY2006 2007E 2008E 2009E 2010E
CdTe CIGS a-Si Emerging
Source: PV news.
Among the various types of thin-film solar cell, amorphous silicon (a-Si) cells are
relatively established in track record and technology. The amorphous silicon film is
deposited on the substrate as a result of breaking down raw material monosilane gas
in plasma with a diluent gas. The thickness of the light absorption layer is only a few
micrometers, meaning that a cell requires only around one hundredth of the silicon
raw material used by a polysilicon solar cell. This is the biggest advantage of a thin-
film solar cell. The efficiency rate for energy conversion is only around 10% because
it is only sensitive to the spectrum of light between ultraviolet and visible light,
resulting in a substantial transmission loss for the sun’s rays. Experiments are being
conducted to improve the conversion efficiency of thin-film solar cells by using two
or even three light absorption layers. The production processes involved in making
amorphous silicon solar cells are plasma-enhanced chemical vapor deposition (PE-
CVD), laser cutting, sputtering, edge polishing, soldering, sealing and finishing. In
particular, the equipment required for PE-CVD is expensive, and this is hampering
development.
Among the various types of thin-film solar cells, we believe that CIS/CIGS cells
exhibit the best prospects in addition to amorphous silicon cells. CIS/CIGS solar
cells employ light absorption layers made of compound semiconductors based on
copper (Cu), indium (In) and selenide (Se). In addition to these three core elements,
gallium (Ga) or sulfur (S) is also added to the light absorption layer to control the
band gap. CIS/CIGS solar cells have a higher light absorption coefficient than
silicon–based cells, so that a thickness of around 2µm provides sufficient light
absorption. CIS/CIGS cells thus do not rely upon the availability of silicon, and only
need small volumes of raw materials. We believe there is ample scope for cost
reduction, given the simple structure and manufacturing processes, and the
possibility of integrated production from raw materials to the finished product.
Furthermore, the conversion efficiency of CIS/CIGS cells is high compared to other
types of thin-film solar cell. Some observers have voiced concerns over supplies of
indium being insufficient, but only around 8–10 tons of indium are required to
manufacture 1GW of CIS/CIGS solar cells, and we therefore do not expect problems
unless the production volume of CIS/CIGS cells expands very rapidly.
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Solar power supply chain
Figure 132: Solar power supply chain
System &
Polysilicon Ingot Wafer Cell Module
Installation
Source: Kyocera, Motech, Sharp, SunPower.
1. Polysilicon: A silicon raw material which is melted and re-casted to remove
impurities.
2. Ingot: The cast silicon, which is stabilized in its polycrystalline form. These
casts are called ingots and are cut into blocks.
3. Wafer: The ingots are sliced into wafers. P-type and n-type silicon wafers are
produced depending on the sliced silicon.
4. Solar cell: Also known as PV (photovoltaic) cell. Electrodes are attached to the
wafers for conducting electricity.
5. Solar module: Used to increase the power output. Many solar cells are connected
together to form modules, which are further assembled into larger units called
arrays. This modular nature of PV enables designers to build PV systems with
various power outputs for different types of applications.
6. System and installation: An installation involves components apart from the
basic module. Components include electrical connections, mounting hardware,
power-conditioning equipment and batteries that store solar energy. Installations
are up to 25% cheaper if installed before construction.
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Table 146: Solar cell major players
Main Players
Silicon material Hemlock (US), Wacker (DE), Tokuyama (4043), MEMC (US/IT), REC (US), Mitsubishi Materials (5711), Sumitomo Titanium
(5726),M. Setek (unlisted ), JSSI (DE), Solar Value (Slovenia), Silicium Becancour (CA), Hoku Science (US), AE Polysilicon (US),
SolarWorld USA (US), JFE Steel (5411), NS Solar Material (unlisted), Japan Solar Silicon (unlisted), KINOTECH (unlisted).
Silicon wafer manufacturers SUMCO (3436), M. Setek (unlisted ), Kitagawa Seiki (6327), Scanwafer (NO), PV Crystalox (DE).
Manufacturing equipment Ishii Hyoki (6336, Entrusted with wafer processing, equipment sales), Ulvac (6728, Thin-film CVD system, sputtering
/technology equipment),Applied Materials (US, Thin-film CVD system, spattering equipment, wire saw), Mitsubishi Heavy Industries (7011,
Thin-film CVDsystem), Iwasaki Electric(6924, Solar Simulation Systems), S.E.S. (6290, Wafer cleaning system),
Tokyo Rope Mfg.(5981, Wire for cutting silicon ), Kiswire (Korea, Wire for cutting silicon ), Shinko Wire (5660, Wire for cutting
silicon ), Toyo Advanced Technologies(unlisted, Wire saw), Meyer Burger (Swiss, Wire saw), Nippei Toyama (6130, Wafer
production equipment, wire saw), Toyama Kikai(unlisted, Automated cell wiring and alignment machine), Union-Materials (unlisted,
Spherical silicon production technology), Tokki(9813, Organic thin-film solar cell production equipment),
Toyo Tanso (5310, Crucible), Tokai Carbon (5301, Crucible), Ibiden (4062,Crucible), Noritake (5331, Silicon fusing furnace ),
Nippon Techno-Carbon (unlisted, Crucible), SGL (DE, Crucible), LCL (unlisted,Crucible), Ferrotec (6890, Single-crystal Si lifting
system), Fujipream (4237, spherical Si), NPC (6255, Cell, Cell Tester), ShibauraMechatronics (6590, Thin-film system), Fujimi
Incorporated (5384, Wafer polishing).
Materials for cell and module Asahi Glass (5201, Cover glass, TCO circuit board ), Sumitomo Metal Mining (5713, ITO sputtering targets ), ThreeBond
(unlisted,Sealants), Dai Nippon Printing (7912, Filler sheet for solar cell module), Mitsui Chemicals Fabro (unlisted, EVA sheet for
encapsulating material), Bridgestone (5108, Glue film), Du Pont (unlisted, PVF film), Hitachi Metals(5486, Electrode clad material).
Peripheral equipment manufacture Daihen (6622, Inverter), Laplace System (unlisted, Energy production measurement system), GS Yuasa (6674, Electrical storage
device).
Solar cell(silicon wafer) Sharp (6753), Q-Cells (DE), Kyocera (6971), Suntech (China), Sanyo Elec (6764), Mitsubishi Electric (6503), Motech
(Taiwan),Schott Solar (DE), BP Solar (UK), Deutsche Cell/SHELL (DE), SunPower (US), Isofoton (ES), First Solar (US), CEEG
Nanjing(China), ERSOL (DE), Photowatt (FR), USSC (US), Shell Solar (US), Hitachi (6501).
Solar cell (spherical Si) Clean Venture 21 (unlisted), Fujipream (4237), Kyocera (6971), Kyosemi (unlisted).
Solar cell (a-Si) Kaneka (4118), Mitsubishi Heavy Industries (7011), Sharp (6753), TDK (6762), Fuji Electric Systems (unlisted), Energy Conversion
Devices (US), Shenzhen Topray (China), ERSOL (DE), Schott Solar (DE).
Solar cell (CdTe) First Solar (US), Antec (DE).
Solar cell (CIS/CIGS) Wurth (DE), HelioVolt (US), Miasole (US), NanoSolar (US), Global Solar (DE), Showa Shell Sekiyu (5002), Honda Motor (7267).
Source: JPMorgan.
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Table 147: Key solar industry players
Company Polysilicon Ingot Wafer Cell Module System
Hemlock
Tokuyama
MEMC
Wacker
Mitsubishi (Material & Polysilicon)
REC
PV Crystalox Solar
SolarWorld
Schott Solar
SUMCO
Sharp
Kyocera
BP Solar
Mitsubishi Electric
Sanyo
Q-Cells
Motech
SunPower
Suntech
Solon
Evergreen Solar (String Ribbon)
Conergy
Sekisui Chem
Source: Companies, JPMorgan.
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E-Ton Solar Tech Co Ltd
Company Description: E-Ton Solar Tech Co Ltd develops and manufactures single-and- multi crystalline Country: Taiwan
solar cells.
Ticker: 3452.TWO
Analyst: Carrie Liu
Rating: Underweight
Price (LC): 307.5
Mkt Cap (US$MM): 586
Founded: 2001, Listed: 2006 Fiscal Year End: December
Key Management: Wu Shih-Chang, Reynold Hsu, Tsai Chin-Yao No. of Employees: 317
Business Alliances/Partnerships (NT$ in billions) FY04 FY05 FY06 FY07E
M.Setek—10-year solar wafer supply agreement Revenues 0.4 1.2 3.4 5.9
LDK—4-year solar wafer supply agreement Net Profit 0.1 0.3 0.7 0.9
EPS (NT$) 3.2 8.8 18.9 15.04
ROE (%) 41.1 46.5 38.1 27.8
Capital Spending -0.1 -0.2 -0.7 1.3
Research & Development 0.0 0.0 0.0 0.1
Contract Manufacturers/Production Source 100% In-house, 100% In-house
Geographical Mix (2007) Product Mix (2007)
Other
2%
China Others
6% 2%
Japan
8%
Taiw an
11%
Europe
73%
Solar cell
98%
Key Suppliers Key Customers
M.Setek LDK
E-Ton Solar NA
Source: Company, Datastream, JPMorgan estimates.
MORGAN MARKETS PAGE BIG PICTURE
COMPANY WEBSITE Solar
INDEX
633
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bhavin.a.shah@jpmorgan.com
Evergreen Solar
Company Description: Evergreen Solar Inc. develops, manufactures, and markets solar power Country: United States
cells, panels, and systems that provide environmentally clean electric power throughout the world. Ticker: ESLR
The company’s solar power products draw electricity from solar cells, which are semiconductor Analyst: Christopher Blansett
devices that convert the sun's energy into electricity. Rating: Neutral
Price (LC): 13.7
Mkt Cap (US$MM): 1,325
Founded: 1994, Listed: 2000 Fiscal Year End: December
Key Management: Richard M Feldt, Michael El-Hillow, Terry Bailey, Jack I Hanoka, Mark a Farber No. of Employees: 330
Business Alliances/Partnerships (US$ in millions) 2004 2005 2006 2007E
NA Revenues 23.5 44.0 103.1 68.2
Net Profit -19.4 -17.3 -26.7 -21.1
EPS (US$) -0.7 -0.3 -0.4 -0.26
ROE (%) -76.2 -26.9 -29.6
Capital Spending 10.9 57.7 107.7
Research & Development 4.9 11.5 19.1 21.3
Contract Manufacturers/Production Source NA
Geographical Mix (2007) Product Mix (2007)
United States Solar Pow er
100% Cells
100%
Source: Company, Datastream, JPMorgan estimates.
Key Customers
Key Suppliers NA
NA Evergreen Solar
MORGAN MARKETS PAGE BIG PICTURE
COMPANY WEBSITE Solar
INDEX
634
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bhavin.a.shah@jpmorgan.com
Motech Industries Inc.
Company Description: Motech Industries Inc. manufactures and markets solar cells as well as testing and Country: Taiwan
measuring instruments. Ticker: 6244.TWO
Analyst: Carrie Liu
Rating: Underweight
Price (LC): 282.0
Mkt Cap (US$MM): 1,794
Founded: 1981, Listed: 2003 Fiscal Year End: December
Key Management: Cheng Fu-Tien, Jeery Su, Simon Tsuo No. of Employees: 914
Business Alliances/Partnerships (NT$ in billions) FY04 FY05 FY06 FY07E
Renesola—Three-year solar wafer supply Revenues 2.5 4.3 8.1 15.6
Agreement
AE Polysilicon—Five-year polysilicon supply Net Profit 0.6 1.2 2.3 2.6
Agreement
REC—Five-year solar wafer supply Agreement EPS (NT$) 2.0 7.27 13.24 13.45
ROE (%) 58.1 60.3 56.0 26.0
Capital Spending -0.5 -0.4 -1.8 0.9
Research & Development 0.0 0.0 0.0 0.1
Contract Manufacturers/Production Source 100% in-house, 100% in-house
Geographical Mix (2007) Product Mix (2007)
Others other
23% 1%
Solar Pow er
Europe Sy stem
40% 3%
USA
11%
China Solar cell
26% 96%
Key Suppliers Key Customers
Scanwafer Deutsche Solar
Motech Industries Aleo Atersa
Renesola LDK Siliken Tenesol
Solar Glass
Source: Company, Datastream, JPMorgan estimates.
MORGAN MARKETS PAGE BIG PICTURE
COMPANY WEBSITE Solar
INDEX
635
20. Bhavin Shah Asia Pacific Equity Research
(852) 2800-8538 07 January 2008
bhavin.a.shah@jpmorgan.com
SunPower Corporation
Company Description: SunPower Corporation designs and manufactures silicon solar cells. The Country: United States
cells generate electricity from sunlight. Ticker: SPWR
Analyst: Christopher Blansett
Rating: Overweight
Price (LC): 117.4
Mkt Cap (US$MM): 9,503
Founded: 2002, Listed: 2005 Fiscal Year End: December
Key Management: Thurman J Rodgers, Thomas H Werner, Richard Swanson, Emmanuel T Hernandez, No. of Employees: 1,752
Panemangalore Pai, Brad Davis
Business Alliances/Partnerships (US$ in millions) 2004 2005 2006 2007E
NA Revenues 10.9 78.7 236.5 766.6
Net Profit -28.9 -15.8 26.5 17.3
EPS (US$) -0.7 0.4 0.2
ROE (%) 7.1
Capital Spending 26.9 71.6 108.3 199.0
Research & Development 13.5 6.5 9.7
Contract Manufacturers/Production Source NA
Geographical Mix (2007) Product Mix (2007)
United States
Germany 32%
49%
Asia
Solar Cell
Others 7% 100%
12%
Source: Company, Datastream, JPMorgan estimates.
Key Customers
Key Suppliers NA
NA SunPower Corporation
MORGAN MARKETS PAGE BIG PICTURE
COMPANY WEBSITE Solar
INDEX
636
21. Bhavin Shah Asia Pacific Equity Research
(852) 2800-8538 07 January 2008
bhavin.a.shah@jpmorgan.com
Suntech Power Holdings Co.,Ltd
Company Description: Suntech is involved in the design, development and manufacture of photovoltaic Country: China
cells/modules, BIPV, and thin-film technology. It is the fourth largest solar cell maker globally with 6.3% global STP
market share in 2006. Its products are used for both on-grid and off-grid generation of solar power for commercial
Ticker:
and residential applications. Analyst: Carrie Liu
Rating: Neutral
Price (LC): 38.9
Mkt Cap (US$MM): 5,867
Founded: 2001, Listed: 2005 Fiscal Year End: December
Key Management: Shi Zhengrong No. of Employees: 3,284
Business Alliances/Partnerships (US$ in millions) FY05 FY06 FY07 FY08E
NA Revenues 226 598.8 1,390 2,305
Net Profit 30.5 103.6 182 324
EPS (US$) 0.3 0.7 1.2 2.1
ROE (%) 14.2 19.3 22.9 28.8
Capital Spending 27.9 79.6 141 242
Research & Development 3.4 8.4 17.3
Contract Manufacturers/Production Source NA
Geographical Mix (2006) US
Product Mix (2006)
3%
Rest of World PV sy stem PV cells
Rest of Europe 3% integrations 21%
0%
7% Germany
Spain 43%
21%
Japan
1%
South Africa PV modules
China
0% 79%
22%
Key Customers
Key Suppliers Conergy AG Atersa
Deutsche Solar AG LDK
Suntech IBC Solar AG SolarWorld AG
MEMC Shanghai Comtec Ibesolar Energia S.A
REC Sunlight Group
Hoku Materials
Source: Company, Datastream, JPMorgan estimates.
MORGAN MARKETS PAGE BIG PICTURE
COMPANY WEBSITE Solar
INDEX
637