- Utility solar farm market drivers - Minimizing solar farm capital costs - Crystalline silicon supersized module manufacturing - Solar farm systems cost reduction through the use of supersized modules - Minimizing utility solar farm LCOE by on-site deployment of supersized modules Roger Little, Chairman & CEO, SPIRE

1. Low Cost Utility Solar Farms
by Onsite Manufacturing of Supersized Modules
Roger G. Little
January 20, 2010

2. The Turn-key Solar Company
Spire Provides:
• Capital Equipment
• Turn-key Production Lines
for photovoltaic module
manufacturing.

3. Discussion
• Utility Markets Will Drive PV.
• Foreign Competition will be relentless.
• To Compete specialty products integrated with downstream
needs.
• Larger modules offer potential.
• Minimize utility solar farm LCOE by on‐site manufacturing.

5. Utility Solar Farm Onsite Factory Model

6. U.S. Utility PV Pipeline
2,000 1,791
1,500
1,019
Megawatts 1,000
455
500
251
‐
2010 2011 2012 2013
Source: PV News, Greentech Media, Dec 2010

7. 1GW Projects are on the Horizon
1,200
1000
1,000
800
Megawatts 600 550
400 ---
250
200 80
0
2010 2011 2012 ‐‐‐ 2015
Source: international.pv-tech.org, Jan 2011

8. Factory Module Assembly from Cells
Wafers
Polycrystalline Cells
Ingot
Modules
Polysilicon
Sand
Systems Integration

9. Module Line Equipment
Cells Cell Sorter
Assembler
Laminator
Module
Simulator

10. 40MW Super Sized Module Line

11. Super Sized Module
Overview 1005 W
Module Size: 5.4 ft x 12.6 ft
Module weight: 331 lbs
Pmax: 1005 W DC module
240 cells
230 W
η cell: 17.2%
η module : 16.1%
1 kW AC inverter

12. 1 kW Module Cost vs. Cell Cost
$4.00 $3.61
η cell: 17.2%
$3.50
$3.11
$3.00
$2.61
$2.50
$1.81 Module Cost $2.11
Module Cost
$2.00
($/W) $1.61
$1.50
$1.11 $1.20/W Cell Cost
$1.00
$0.61
$0.50
$‐
$‐ $0.50 $1.00 $1.50 $2.00 $2.50 $3.00
Cell Cost ($/W)

13. PV Systems Cost Reduction
Excess Wire • Multiple
Management Grounding
Points
230W 230W 230W 230W
• Excess
16 Extra Handling
Mechanical
Fasteners
1005W
Cantilever • Laminated
Frame diodes simplify
Design busing and
terminal box

14. Super Sized KW Module Installation Comparison
BOS Component 1005 W 4 x 230 W
Grounding Points 1 4
Wire Connections 1 4
Module to Rail Fasteners N/A 16
Materials & Transportation $5.28 $100.84
Assembly Labor 0.19 hrs 1.25 hr
Assembly Cost $3.79 $25.46
Micro‐inverter $320 $624
Total Cost $329.07 $750.29

15. Systems Cost ($/watt) - 2012
Module BOS
$3.50
Total $3.07
$3.00
Total $2.57
$2.50
$1.62
$2.00 $1.13
$/W
$1.50
$1.00
$1.44 $1.45
$0.50
$-
1005W module 4 x 230W

16. Levelized Cost of Energy
Estimated LCoE LCoE After FTC
$0.25
$0.20 $0.194
$0.145 $0.135
$0.15
LCoE $0.102
($/kWh) $0.10
$0.05
$0.00
1005 W Module: 4 x 230 W:
$2.57/W $3.07/W

17. Achieving 1GW Solar Farm
Investment in Facility: $15M
Annual Facility Output: 40MW (cumulative over 25 years: 1 GW Project Capacity)
PPA: $0.10/kWh
SREC: $0.08/kWh
System Install Cost: $1.80/W after 30% FTC
Solar Intensity: 1.573kWh/Wp
Degradation: 0.5% / year
O&M Costs: 0.5% Install Cost / Year

18. Cash Flow over Life of Project
$2,000
1 GW Solar Farm Achieved
$1,500
$1,000
Cumulative Free
Cash Flow ($M)
$500
$0
0 5 10 15 20 25 30
‐$500
Years from Investmemt

19. Summary
• Utility Systems heading toward 1 GW.
• Specialty Modules integrated with downstream needs
for competitive advantage.
• Solar Farm Onsite Manufacturing of supersized
modules for lowest LCOE.

20. Lake Placid Ironman 2010

21. Spire Corporation
One Patriots Park
Bedford, MA 01730
NASDAQ: SPIR

22. Super Sized PV Module Onsite Factory
• Utility market • Solar “farms” Supersized • Transportation
expanding (250MW – 1GW) 1 kW modules for considerations
will favor onsite
• 20 GW by 2020 • Due to RPS • lower materials manufacturing
• lower BOS
expenses
System Cost Reductions, Local Manufacturing, U.S. Job Creation

23. Module Line Process Flow
Feed, Cut &
Load Glass on Wash, Rinse,
Glass In Place EVA on
Conveyor Dry Glass
Glass
Test & Sort Fabricate Cell Inspect Cell Align Strings & Place Strings
Cells In
Cells Strings Strings Trim End Tabs on EVA/Glass
QC QC
Dark I-V & Feed, Cut &
Attach Buses Visual Place EVA &
Laminate Trim Edges
& Diodes Inspection Back Sheet on
Strings
QC
Performance High Voltage
Attach Frame Install J-boxes Modules Out
(I-V) Test Isolation Test
QC QC

24. Spire Across the Value Chain
x‐Si & CPV
PV PV Systems
PV Material
Research Production EPC, Design
Turnkey Lines Supplies and Integration
and Equipment
Development

25. Minimizing solar farm capital costs ($/W)
Component • Reduce Rack Requirements
Cost Reduction • Reduce Electrical Connections
Labor Cost • Minimize in field installation labor
• Plug‐and‐Play electrical installation
Reduction • Specialized on‐site installation
Improve System • Improve cell efficiency
Efficiency • Increase module level AC efficiency

26. Timberman 70.3 Ironman 2010

27. Foster Grant 70.3 Ironman 2010

28. World Championship Ironman Kona 2010

29. World Championship Ironman Kona 2010