Silicon Heterojunction Technology Equipment July 2016
Table of contents Benefits The PV market Technical data Texture a-si Front / rear side TCO Print Curing Test & sort
Benefits of the heterojunction technology
Overview benefits Heterojunction technology Highest efficiency with 22% production average and further upside potential Highest energy yield due to excellent Tc (-0.20%/K), bifacial cell design and cell stability (no PID, no LID) 20% more kwh/m 2 compared to standard c-si technology and therefore lowest levelized cost of electricity $/kwh Highest efficiency Reduced production steps and labour costs Highest liefetime expectation Lowest levelized cost Very high outdoor performance of HJT/SWCT modules 4
Highest efficiency Approved by Swiss testing Monofacial Measurement 327 Wp 5
Reduced production steps and labour costs Straightforward HJT production Only 6 steps to high efficiency cells Excellent surface passivation of a-si:h Results: High opencircuit voltages and high efficiency cells Low temperature production process and reduced steps results in higher production yield PERC process Texture Doping / Diffusion Edge Isolation PSG Etch ARC Backside passivation Laser opening Print Rear Side Print Front Side Firing Test & Sort HJT process Texture a-si Front/ Rear Side TCO Print Curing Test & Sort 6
rel. Parameters Highest lifetime expectation (1/2) Potential Induced Degradation (LID) No PID effect No LID effect 105% Light Induced Degradation (LID) 100% 95% 90% 0,0 0,1 1,0 10,0 100,0 1000,0 accumulated light exposure [hours] Voc Jsc FF eta 7
Power Loss [%] GBS Highest lifetime expectation (2/2) Thermal cycling testing Stable modules with power losses between 1-2% after 800 cycles Damp heat testing Nearly no power losses even after 4000h Modules pass extended acceleration stress tests after IEC standards* *IEC 61215 standards: max 5% loss @ 1000h DH & 200 TC 0-5 -10-15 -20-25 Thermal cycling SWCT/HJT Soldering/HJT -1 Soldering/HJT -2 Conductive film/hjt Conductive glue/hjt SWCT/HJT/GG/Monofacial SWCT/HJT/GG/Bifacial 0 200 400 600 800 Number of Thermal Cycles 8
Competitive Production costs Cost per WP Cell line Opex* Current cell conversion cost 7$Cent/Wp 6$Cent/Wp in 2017 Opex cost down applicable to current equipment *95% yield, Opex only 10 9 8 7 6 5 4 3 2 1 0 Less silver Wet process optimized Gas cost reduced 2015 2016 2017 TCO cost reduction Consumables Labor Spare parts 9 Note: CoO depending on region and assumptions Capex not included M2 wafer size 22% cell efficiency $/Wp
Very high outdoor performance of HJT/SWCT Modules am noon pm HJT / SWCT kwh/kwp HJT vs. Multi Module 10 HJT has lower Temp. Coeff, which results in better outdoor performance compared to other c-si technologies Bi-facial HJT module design is additional large contribution to higher yield HJT Mono-facial HJT Bi-facial All days +2.7% +13% Clear Days +3.9% +12.9% Cloudy +2.1% +12.9%
Summary A B Diamond Wire Thinner wafer Lower costs Single Wafer Tracking Quality & performance control Heterojunction (HJT) Texture a-si front/ rear side TCO / metal rear contact Print front side Test & Sort C Curing High efficiency Lower system cost (BOS) Independent of wafer thickness Only 6 process steps Low COO Low temperature coefficient and bifacial cell design Higher energy yield D E Adapted test metrology High cap cells Busbarless cells Pasan grid touch PED (Chipping) SmartWire Connection (SWCT) TCO layer and wafer thickness suitable for SmartWire 80% less silver Higher energy yield Higher efficiency Longevity and micro-crack resistant D A B C E
The PV market
GW PV market today and tomorrow 90 80 70 60 50 40 30 20 10 60 GW market in 2015 Nearly 80 GW expected in 2020 Prices stabilized Market requires new production capacity Drivers for long term growth: Demand for electricity, rising fossil fuel prices, pressure to adopt fossil fuels Drivers for short term growth: Political push from government China, USA & India expected to be the top 3 markets by 2020 (50% of global demand) 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 13 Source: Photon Consulting 2016
PV market today and tomorrow n-type mono with high growth-rate potential, because of high efficiency potential (MCLT) Less sensitivity to metal contaminations (e.g. Fe) no LID, no PID, low TC
PV market today and tomorrow Highest prices/wp for high power modules Module class Price ( /Wp) Price ($/Wp) Description High Efficiency 0.69 0.79 Crystalline modules 275 Wp and above with PERC, HIT, N type or back contact cells or combinations thereof All Black 0.59 0.67 Module types with black back sheet, black frame and a rated power between 190 Wp and 270 Wp Standard 0.51 0.58 Modules typically with 60 cells, standard aluminium frame, white back sheet and 245 270 Wp, represents the majority of modules in the market Low Cost 0.38 0.43 Low output modules, factory seconds, insolvency goods, used modules (crystalline), products with limited or no warranty Source: Mercom Oct. 2015 15
PV market today and tomorrow Global market segments share 21 GW 53 GW 86 GW Residential segment growing until 2020 Residential 17% 19% 20% Demand for high power modules Commercial /industrial Residential 43% Utility 40% 2010 12% 30% European market segments share 18GW Commercial 46% /industrial 51% 45% 28% 30% 48% 35% 2015 2020 11GW 14 GW 55% Residential segment is expected to grow significantly in existing markets of Europe, Japan and USA New markets of India and MENA focus more on large-scale installations compared to European markets In China, the majority of future installations is expected in the distributed generation segment Off-grid might have significant market share in some other markets like MENA, Asia and Africa Utility 42% 24% 15% 2010 2015 2020 16 Source: Apricum consulting
PV market today and tomorrow Strongest growth in high temperature climate zones Demand for modules with low temperature coefficient Markets with desert climate Saudi Arabia Morocco Markets with tropical weather Taiwan Indonesia Brazil Thailand Markets with moderate weather United Kingdom Germany Japan China South Korea Source: Apricum consulting Installations by climate zones [%] 6% 2% 80% 59% 18% 35% 2013 2018 Annual global installations [GW] by climate zone CAGR Desert 24 29% 3 Tropical 32% 7 1 6% 42 Moderate 31 2013 2018 17
USD$M PV market today and tomorrow 3,500 Cell Capex investment forecast to 2018 3,000 2,500 2,000 1,500 1,000 0,500 0,000 2013 2014 2015 2016 2017 2018 optimistic most likely pessimistic PV Invest Capex is back 18 Source: Solar Media Ltd. 2016
GW PV market today and tomorrow 12 High efficiency cell production 10 8 6 4 optimistic most likely 2 0 2013 2014 2015 2016 2017 2018 2019 High efficiency cell market share (HJT, IBC and bifacial) expected to increase further 19 Source: Photon Consulting 2016
Technical data
SWCT / HJT bifacial design HJT is per se a bifacial cell structure Front and rear side illumination shows same cell efficiencies Ag (screen print) n a-si:h ITO i a-si:h Bifacial module design can contribute 10% and more to energy yield n-type c-si Excellent low light behaviour No additional process step for bifacial cells Same production cost for mono- and bifacial HJT cells Ag (sputtered) Ag (screen print) i a-si:h p a-si:h ITO 21
Häufigkeit Frequency HJT Efficiency @ Meyer Burger Demo Production Germany Golden cell Status Cell Area (cm 2 ) Eff. (%) V oc (mv) FF (%) J sc (ma/cm 2 ) 09/2015 Cz 239,5 23,3 742,5 81,3 38,64 Record: 23,79%23.3% on 6 ps CZ wafer with BB-less cell design for SmartWire 2500 2000 1500 1000 Pilot Histogramm cell production von Eff_Migros at MB Germany Production MBG Normal Mittelwert 22,54 Cells: 41698 StdAbw 0,4503 Eta N Ø: 22,54% 41698 σ: 0,45% 22.4-22.8 % on 6 ps Cz wafer in pilot production (Grid touch measured) 500 0 18,9 19,6 20,3 21,0 21,7 22,4 Efficiency (busbar less Eff bifacial HJT cells) 23,1 23,8 22
Meyer Burger / 16-07-15 Technology upgrades to gurantee long term profitability Si-HJT 22% 308W* Upgrade to new cell structure upgraded-hjt 22.5% 315 W* Optimisation and cost down upgraded-hjt 23% 322 W* Fast technology transfer supported by our R&D collaborations Upgrade to IBC- HJT IBC-HJT 24% 345 W today *indicative module power with 2016 layout
HJT key technology HELiA PECVD Gross throughput: 2400 w/h 56 wafer/tray 84 s tact time Process pressure: 0.5 10 mbar HELiA PVD Gross throughput: 2400 w/h 24 wafer/tray 36 s tact time Process pressure: 1E- 2 5E-3 mbar 24
HELiA PECVD: Passivation quality Sinton Lifetime measured on Fz and Cz Wafer Excellent a-si passivation quality Excellent Efficiency and Voc uniformity over complete tray Key process for high efficiencies 25
PVD layer quality and uniformity 8000 Lifetime Monitoring for Plasma Damage Analysis at PVD Lifetime post PECVD [µs] Lifetime post TCO Curing[µs] 8000 No loss in carrier lifetime and Voc after PVD process Excellent Efficiency and FF uniformity over complete tray 6000 6000 6634,4 6000,4 4000 4178,8 4294,6 4000 0,738 implied Voc post PECVD[V] 0,738 implied Voc post Curing[V] 0,736 0,736 0,73584 0,73612 0,734 0,73294 0,734 0,734 0,732 0,732 0,730 TCO both sides, 1 pass TCO both sides, 2 passes 0,730 TCO both sides, 1 pass TCO both sides, 2 passes 26 Meyer Burger / 08-2015
HJT Line Design Wet chemical texture & cleaning Front end of line Helia PeCVD a-si (i) a-si (n) a-si (i) a-si (p) Test & Sorting Screen print & Curing Back end of line Helia PVD 27
Factory layout 600 MW 1. Incoming wafer inspection/sort (optional) 2. Saw damage removal/texture 3. PECVD front i-n i-n / i-p back up 4. PECVD back i-p 5. PVD TCO 6. Print front/back + curing 7. Cell inspection/iv/sort 28 Meyer Burger / 08-2015
Factory Layout 600 MW Meyer Burger HJT slim process and layout consumes 30% less real estate/factory floorspace (PERC 500 MW ca. 15,000m², HJT 600 MW 12,500m² with further reduction potential) Full-kit planning available for customers incl. fully integrated factory design from crystal growth through module assembly - Facility-Utility-Matrix (FUM) - Layouts for Production area - Peripheral areas (factory logistics) - Utility systems Ideal cluster size per factory module was determined at 600 MW additional capacities can be added accordingly Matured planning level of generic factory design enables customers to tremendously shorten project schedule for a green field or technology reinvest project using MB HJT technology 29
Scope of supply options Texture a-si Front/ Rear Side TCO Rear Contact Print Curing MB HJT Standard Line With efficiency guaranty Test & Sort MB HJT Core Line with specification with efficiency guaranty Base Core Line KPI`s Capacity: 200+MW Efficiency: 22% gt Throughput: 4`800 w/h Uptime: 90% MB Offering (HJT Core Line) Customer own purchase according to MB specification
Project Workload & Responsibility The 3 Levels for Scope of supply Customer Scope Customer Scope Customer Scope MB HJT Core System Scope MB HJT Core Line Scope MB HJT Standard Line Scope 31 The solution for expansion of existing lines & experience Tier one customer The solution for Tier one and low risk on customer side The solution for New comers and low risk on customer side
$ / wafer BoM Aspects N-Type Wafer prices are already very close to p-type Prices of n-type Wafer in 2017 53 cent according Longi wafer roadmap Standard formats available (M2) Thin wafers (120 µm) possible due to less process steps and smart wire integration Polymer based low temperature Ag pastes will also reach comparable pricing TCO cost depending on thickness optimization or substitute 0,8 0,75 0,7 0,65 0,6 0,55 0,5 0,45 0,4 2014 2015 2016 2017 2018 2019 $ / wafer n-type p-type Furthermore, lay-down weights can be reduced by engineering TCO resistivity vs. paste lay-down All other BoM items are standard in the semi/solar industry. 30
SmartWire Connection Technology (SWCT) Most cost-effective method of connecting solar cells Multiple wires are used instead of conventional cell connectors (tab ribbons) Higher power in the module Up to 80% less silver during cell production 1) $/kwh More energy per module area >20% kwh/sqm 2) Thin wafers and bifacial cells compatible 33 1) with HJT/SWCT compared to 3BB 2) with HJT/SWCT-Bifacial compared to Mono/3BB
Module technology HJT modules with SmartWire connection technology received full IEC certification on 09/2012 IEC 61215/ 61730 according to latest editions Reputable SGS & TüV Saar certificates Including Fire testing FAST TRACK certification for customers available MB HJT modules are automatically certified after comissioning and production start of Cell& Module line. Modules directly sellable without time gap. No risk and time-to-market losses due to lengthy certification procedure necessary. 34
Temperature coefficient Excellent Temperature Coefficient certified by Fraunhofer ISE CalLab and TÜV Rheinland -0,20 %/K on Cell level -0,22 %/K on Module level 35
Low illumination efficiency of MB HJT Other high efficiency c-si modules Measured at CEA/INES MB HJT module with same or better performance at low illumination 36
Summary of 2015 43 days in Lugano SUPSI SWCT PERC show 1.9% and 1.8% more yield than standard and 3BB PERC SWCT HJT 10.5% more energy yield than Standard and 3BB PERC SWCT HJT show 22.3% more total output per sqm compare to standard 37 Standard c-si PERC 3BB PERC SWCT HJT SWCT Module sq m 1.6368 1.639 1.639 1.639 Power flasher 259.8 277.2 283.9 288.0 PR Eff. % # PR Eff. % # PR Eff. % # PR Eff. % All days 0.906 14.38 43 0.907 15.34 43 0.923 15.98 43 1.001 17.58 Clear 0.849 14.20 16 0.89 15.06 16 0.907 15.71 16 0.978 17.18 Cloudy 0.908 14.41 13 0.913 15.44 13 0.930 16.11 13 1.012 17.79 Overcast 0.963 15.28 14 0.985 16.66 14 0.993 17.20 14 1.095 19.25 Δ All day 0.1% 6.7% 1.9% 11.2% 10.5% 22.3% Δ Clear -0.5% 6.0% 1.4% 10.6% 9.4% 21.0% Δ Cloudy 0.5% 7.1% 2.4% 11.7% 11.5% 23.4% Δ Overcast 2.3% 9.0% 3.2% 12.6% 12.8% 26.0%
Levelized cost of electricity 1.700 1.500 1.398 1.398 1.380 1.394 Energy Yield [kwh/kwp] 1.478 1.492 1.644 1.644 1.644 Assumptions 1600 kwh/m2 yearly irradiation 1.300 1.100 55 C average module working temperature 900 25 years system lifetime 1-2% LID for PERC 6,80 6,60 6,40 6,20 6,00 5,80 5,60 5,40 5,20 5,00 LCOE Cent/kWh 6,74 6,80 6,72 6,54 5,96 5,83 5,62 5,50 5,12 10% albedo effect for HJT bifacial 6% albedo for PERC/PERT/L bifacial 38 Meyer Burger / 08-2015
Levelized Cost of electricity II LCOE relevant factors Module type 4BB GBS with frame Cell type BSF multi BSF mono PERC multi PERC 21% 4BB GG no frame PERC bif 21% n-pert/l 21% SWCT GG no frame HJT 22% HJT 22,5% SWCT300 In free HJT 2.0 23% wafer price /piece 0,70 0,80 0,70 0,80 0,80 0,83 0,83 0,83 0,83 wafer area m² 0,02457 0,02443 0,02457 0,02443 0,02443 0,02443 0,02443 0,02443 0,02457 39 Production Wafer [ /m²] 28,49 32,75 28,49 32,75 32,75 33,97 33,97 33,97 33,78 Wafer to Cell Cost /piece 0,37 0,37 0,41 0,41 0,39 0,50 0,61 0,57 0,53 Cell producer margin 15% 0,16 0,18 0,17 0,18 0,18 0,20 0,22 0,21 0,20 Cell area m² 0,02457 0,02443 0,02457 0,02443 0,02443 0,02443 0,02443 0,02443 0,02457 Cell Price (w /o w afer) [ /m²] 21,59 22,33 23,23 23,98 23,04 28,63 33,81 31,93 29,87 module assembly (HJT SWCT) /piece 42,15 42,15 42,15 42,15 33,80 33,80 43,92 43,92 34,83 Module producer margin 15% 6,32 6,32 6,32 6,32 5,07 5,07 6,59 6,59 5,22 PV total area m² 1,66 1,66 1,66 1,66 1,66 1,66 1,66 1,66 1,66 Module Price [ /m²] 29,20 29,20 29,20 29,20 23,42 23,42 30,43 30,43 24,13 BOS costs per piece (roof) /piece 50,00 50,00 50,00 50,00 50,00 50,00 50,00 50,00 50,00 BOS costs per Watt /piece 20,00 20,86 20,75 22,78 22,46 22,46 23,53 24,06 24,60 Installation margin 15% 10,50 10,63 10,61 10,92 10,87 10,87 11,03 11,11 11,19 System area m² 1 1 1 1 1 1 1 1 1 BOS costs (w/o modules) [ /m²] 80,50 81,48 81,36 83,70 83,33 83,33 84,56 85,17 85,79 [ /m²] 159,78 165,76 162,28 169,62 162,53 169,35 182,77 181,50 173,57 Cell ETA (HJT BBless) 18,70% 19,50% 19,40% 21,30% 21,00% 21,00% 22,00% 22,50% 23,00% CTM Loss (HJT SWCT) 1,0% 2,0% 1,0% 2,0% 2,0% 2,0% 4,0% 4,0% 2,0% nominal System Power module Power (only front) 272,9 280,1 283,1 306,0 301,7 301,7 309,6 316,6 332,3 nominal Power Wp/m² 164 169 171 184 182 182 186 191 200 Investment cost PV /kwp 972 982 951 920 894 932 980 952 867 System Irradiation yearly energy p. m² kwh/m² 1600 Degradation p.a. 0,50% 0,50% 0,50% 0,50% 0,30% 0,30% 0,30% 0,30% 0,30% LID initial 0,00% 0,00% 2,00% 1,00% 1,00% 0,00% 0,00% 0,00% 0,00% Bifaciality 100% 100% 100% 100% 106% 106% 110% 110% 110% Energy Yield SWCT yield effect 100% 100% 100% 100% 100% 100% 102% 102% 102% Temp av in operation 55 55 55 55 55 55 55 55 55 Temperature coefficient 0,42 0,42 0,40 0,40 0,40 0,40 0,28 0,28 0,28 Energy Yield (1st year) kwh/kwp 1.398 1.398 1.380 1.394 1.478 1.492 1.644 1.644 1.644 Lifetime years 25 25 25 25 25 25 25 25 25 Lifetime Energy Production per kwp kwh 32.776 32.776 32.341 32.671 35.532 35.891 39.545 39.545 39.545 Wacc % 5% 5% 5% 5% 5% 5% 5% 5% 5% Annuity investment Costs /kwp/year 68,95 69,70 67,51 65,29 63,46 66,12 69,54 67,52 61,52 OPEX per Year /kwp/year 19 19 19 19 19 19 19 19 19 Total lifetime running costs 2.210 2.228 2.174 2.118 2.072 2.139 2.224 2.174 2.024 LCOE ct/kwh 6,74 6,80 6,72 6,48 5,83 5,96 5,62 5,50 5,12
Summary Meyer Burger s HJT technology has successfully entered the market. Installed base 400 MW in 2016 future deployment opportunties very promising Meyer Burger s HJT technology comes along with lowest LCOE, production step costs as well as greatest potential for cost reduction (e.g. PERC requires additional process steps for efficiency increases, HJT not) Meyer Burger s HJT technology can apply a proven technology roadmap towards higher efficiencies to fully use the potential of n-type wafers and a superior surface passivation as well as can leverage already achieved cost learning curve effects (e.g. wafers) Meyer Burger is ready to supply the growing n-type/hjt market with tools, complete lines as well as professional factory planning and technology partner 40
MB 360 Services view on system life cycle MB Equipment & Lines Installation & Ramp up & Commissioning Upgrades & Retrofits Academy Trainings Customer Benefits Increase performance: efficiency, Wp, throughput, Yield, Uptime Close to customer Minimized risk Calculability Application & Process Support Service Parts Overhaul Warranty extension Onsite Repair & Maintenance 41
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