HelioVolt presents at Photon's 3rd Thin Film Conference: Can CIGS become the savior of Thin FIlm?

1. Convergence of Markets:
Growth of Distributed Energy
BJ Stanbery
HelioVolt Founder, Chairman of the Board
and Chief Science Officer
November 2008
© 2011 HelioVolt Corporation

2. Energy Generation and the
Terawatt (TW) Challenge
• Humanity uses 12 TW of power today
– 1 TW = 1,000 GW (Gigawatts)
• World will need 15 TW by 2012
• Only 5 known sources of energy are
available on a TW scale*
– Fossil fuels: Coal, oil, gas
– Nuclear fuels
– Solar
• Only inherently distributed solution
• No fuel cost
*Prof. Nathan Lewis,
http://nsl.caltech.edu/
© 2011 HelioVolt Corporation

3. Solar Energy Reaching Worldwide Grid Parity
California Tier 4(2) California Tier 5(2)
Size of electricity
Denmark market TWh a year(1)
Average power price per household ($/kWh(1))
Netherlands Italy
$8.0 Grid Parity as of(3)
Cost per watt at peak hours ($/Wp(1))
$0.3
Norway Today
Germany
Hawaii 2020
Japan $6.0
United
Sweden Kingdom Australia
$0.2
California
$4.0
Finland France New York Spain
Texas
$0.1 South Korea
Greece $2.0
China
India
$0.0
500 1,000 1,500 2,000
Annual solar energy yield (kWh/kWp(1))
Source: McKinsey.
(1) kWh = kilowatt hour; kWp = kilowatt peak; TWh = terawatt hour; Wp = watt peak; the annual solar yield is the amount of electricity
generated by a south-facing 1 kW peak-rated module in 1 year, or the equivalent number of hours that the module operates at peak rating.
(2) Tier 4 and 5 are names of regulated forms of electricity generation and usage.
(3) Unsubsidized cost to end users of solar energy equals cost of conventional electricity.
© 2011 HelioVolt Corporation

4. Policy Driven Demand
YOY Global Demand Growth US % growth
150%
18,000 Spanish
100% German FIT RDC
16,000
US ITC
50%
14,000 Recession 26%
0%
12,000
Installations (MW)
22%
10,000
8,000
17%
Historical Trends
6,000 • 49% growth 9%
6%
• 45% growth ex-Spain 2008
4,000
42%
25%
2,000 45% 35% 29%
32%
0
2004
2005
2006
2007
2008
2009
2010E
2011E
2012E
Germany Spain Italy ROE Japan S. Korea China ROW US
© 2011 HelioVolt Corporation
Source: Barclays, IEA, Navigant

5. Global Solar Markets in Transition
Utility Scale Commercial Roof Top Systems
Solar farm - Germany Google HQ - California
Building Integrated
Residential roof - California Hong Kong Science Center Austin City Hall
© 2011 HelioVolt Corporation 5

6. Advantages of thin film PV for
Distributed Solar Energy
• Efficient and high performing materials
– Direct bandgap semiconductors
– Better energy output – kWh/KW
– CIGS record at 20%+ conversion efficiency
• Significantly reduced costs
– Less material usage
• Not affected by silicon supply shortages
– Potential for improving costs throughout value chain
• Advanced manufacturing techniques
– Fewer processing steps
– Monolithic integration of circuits
– Automation
• Better aesthetics
© 2011 HelioVolt Corporation

7. BIPV Applications
• Roofing
– Most common BIPV
application today
• Curtain wall / Facades
– Emerging market
– HelioVolt has a number of established Joint
Development partners
• Sunshades
– Energy conservation and reduced building operating
costs
– Cooling load mitigation and glare control
– Easiest retrofit for PV but also costly
• Overhead glazing (canopies, skylights, atriums)
© 2011 HelioVolt Corporation

8. BIPV Product Requirements
• Aesthetics:
– Visual attention – may or may not “blend into building”
– Uniform patterns and colors
– Must complement building design
• Efficiency:
– Highest conversion efficiency per application
• Physical properties:
– Flexibility in size
– Flexible and rigid
• When glass = High quality flat glass
– Thermally or acoustically insulating
• Cost:
– Smart integration
© 2011 HelioVolt Corporation

9. The Challenge to Wide Deployment of
Distributed Solar Energy!
Builders
Developers/
Standards Solar
Organizations Communities
Government
Growth of
Trades
support
BIPV
PV Building
Manufacturers Materials Mfgrs
Architects
© 2011 HelioVolt Corporation

10. Opportunities for a More Efficient BIPV
Products and Smarter Integration
Future Integrated Products Opportunity for
Pre-engineered
Solutions
PV Module
Mfgr
Builder/
Building Contractor
Inverter/
Materials becomes
Power Mgmt Manufacturer Installer
Mfgr becomes Customer –
Integrator/ Building Owner
System Designer
Mounting &
Wiring
System Mfgr
Opportunity for
Integration & System
Cost Reduction
© 2011 HelioVolt Corporation 10

11. Competitive Technology Advantage
• FASST® CIGS process advantages
Glass In
– Two-stage process provides maximum flexibility to optimize precursor
deposition method and composition of each layer: higher efficiency
– Most rapid synthesis of CIGS from precursors of any method:
reduces capital costs
Glass – Demonstrated state of the art crystalline quality: higher efficiency
Preparation
FASST® CIGS
– Unique, rapid, flexible optimization of CIGS surface quality: higher
Process efficiency
Module • Advanced NREL liquid precursor technology
Formation
– Reduces capital costs and COGS
Final Assembly
& Test • Monolithic module circuit integration
– Reduces module assembly costs compared to discrete cell assembly
• Advanced module packaging
– Unique, high performance encapsulant, edge sealant, and potting
compound supports product lifetime beyond standard 25 year warranty:
Module Out
reduces cost of electricity (¢/kWh)
© 2011 HelioVolt Corporation 11

12. Reactive Transfer Processing of
Compound Precursors
• Two-stage process Se, S
112 = Cu(In,Ga)(Se,S)2
– Low-temperature 247 = Cu2(In,Ga)4(Se,S)7
deposition of multilayer
compound precursor
Cu2Se3. .(In,Ga)2(Se,S)3
films CuSe. 112 .(In,Ga) (Se,S)
247
247
– RTP reaction of Cu2Se. .(In,Ga)4(Se,S)3
compound precursors
to form CIGS
Cu In, Ga
Intermetallic Plethora
© 2011 HelioVolt Corporation

13. FASST® Reactive Transfer Process
Non-Contact Transfer (NCT™) Synthesis
Process Step
Cu, In,
Ga, Se • Independent deposition of distinct
compound precursor layers on
Substrate
substrate and source plate
Source Plate with Transfer Film • Rapid non-contact reaction
Pressure – Turns stack into CIGS with high efficiency structure
Heat – Combines benefits of sequential selenization with
Close-Spaced Vapor Transport (CSVT) for
junction optimization
Source Plate
• CIGS adheres to the substrate and
the source plate is reused
Substrate
CIGS Layer
Rapid manufacturing process reduces capital amortization cost
© 2011 HelioVolt Corporation 13

14. FASST® CIGS Production Modules 120x60 cm Module 2
Top view with SEM
Cross-sectional
SEM view
Faceted CIGS crystals absorb light efficiently
Large grains from all directions from dawn to dusk, giving
with no horizontal HelioVolt CIGS its characteristic black color
grain boundaries
support high efficiency
© 2011 HelioVolt Corporation 14

15. Reactive Transfer Processing
Compound Precursor Deposition
• Two methods have been developed for
deposition of compound precursors
– Low-temperature Co-evaporation
• Equipment requirements similar to conventional single-
stage co-evaporation but lower temperatures lead to
higher throughput and reduced thermal budget
– Liquid Metal-Organic molecular solutions
• Proprietary inks developed under NREL CRADA
• Decomposition of inks leads to formation of inorganic
compound precursor films nearly indistinguishable
from co-evaporated films (for some compounds)
© 2011 HelioVolt Corporation

16. NREL CRADA – Hybrid CIGS by FASST®
XRD
SEM
 Chalcopyrite CIGS (& Mo)
 (220/204) preferred orientation
 Exceptionally large grains achieved
 Columnar structure
© 2011 HelioVolt Corporation

17. Product Scaling and Performance Experience
14%
Cell
0.66cm2
Efficiency
1364x scale-up
Cell 3%
3 Months
Prototype Module 12%
30cmx30cm
Efficiency
Scalability Proof
Prototype 5%
8x scale-up
2 Months
12%
Efficiency
8%
Module 2%
Production Module Progress 4 Months 10 Months
1.2mx0.6m
Commercial Production Size
© 2011 HelioVolt Corporation 17

18. 12% HelioVolt G2 Module Efficiency
– NREL Measurement –
12% module independently verified by NREL (11.8±0.6%)
© 2011 HelioVolt Corporation 18

19. Monolithic Integration is Key to Cost Leadership
and Product Reliability
HelioVolt Process Competitors’ CIGS Cell-Based Processes
Glass In Glass In Additional Costs
Stainless steel foil $0.08
Glass Substrate
$0.06 $0.06
Preparation Preparation
Higher non-material
FASST® CIGS CIGS ?
$0.07 $0.15 inputs (e.g. labor)
Process Process
Module $0.01 Contact & Grid $0.01
Formation
Higher yield loss ?
Formation
Final Assembly $0.13 ?
Cell Cut & Sort Stringing material $0.12
& Test
Total: $0.27/Wp Cell Stringing $0.12 Two encapsulant layers
$0.04
and outer frame
Final Assembly
$0.17
& Test
Module Out Add’l: $0.24+/Wp
Total: $0.51+/Wp
Module Out
Note: Input materials cost / Wp in cents.
© 2011 HelioVolt Corporation 19

20. Roadmap to 16% Module Efficiency
18%
12%
Advanced TCO,
Enhanced
Transmission,
Ultrafast Heating, Light Trapping
Active Predictive Design
Quenching,
6% Advanced
Baseline Process Composition
Grading Control
0%
2010 2011 2012 2013
• Development work based on HelioVolt patents and
trade secrets will drive module efficiency from 10% to 16%
• Applied Research – HelioVolt’s partnership with NREL will
drive module efficiency from 16% to 21%
© 2011 HelioVolt Corporation 20

21. HelioVolt Module Rooftop Test Array
Factory Rooftop HelioVolt module test array. Array tracks performance of
HelioVolt, as well as other thin-film and silicon modules, and inverters
© 2011 HelioVolt Corporation 21

22. Rooftop Performance –
Comparison of All Arrays
One Day Comparison, All Arrays
HelioVolt CIGS
Tier 1 mc-Si
Tier 1 CdTe
2nd Glass Laminate CIGS
Tubular CIGS
• HelioVolt modules have highest yield, followed by Tier
1 mc-Si modules; CdTe & other CIGS lag behind
© 2011 HelioVolt Corporation 22

23. Product Portfolio Built on
Standard Component Platform
Commercial Rooftop Systems Utility Scale
BIPV – Sunshades BIPV – Spandrels
Parking Structures 5’X5’
1’X1’
300mm CIGS PVIC
2’X4’
• Front view
• 5’x5’ Element
• Framing provided by curtain wall manufacturer
• Standard or custom element
© 2011 HelioVolt Corporation 23

24. Solar Markets Expansion Will Drive
Transition to Distributed Systems
• Capacity expansion to multi-GW scale essential to TW
cumulative installation volumes
– Primary obstacle to these expansions are capital-efficient
manufacturing technology
• Manufacturing technology breakthroughs and system
integration continuing to drive low cost of solar energy
– Product evolution destined to move beyond electronic component
integration to end-use systems integration
• Grid parity in global mass markets will be achieved in the next
5-10 years
© 2011 HelioVolt Corporation

25. Thank You!
BJ Stanbery
stanbery@heliovolt.com
© 2011 HelioVolt Corporation 25