- Technology overviews - Workable business model for Stirling CSP - What can we expect by 2016 - Battle –Strategy and Sustainable challenges for Dish and other CSP - Drivers- Barriers and Performance Cynthia Christensen, President, CORNWELL GROUP

1. Concentrating Solar Thermal Power
February 23‐25, 2001
Scottsdale, Arizona
February 24, 2011

2. .
CSP‐Dish Technology in
Transition
Cynthia Christensen
President
Cornwell Group

3. Agenda
.
1. Who is Cornwell Group, What is our focus?
2. What is Dish Stirling Technology
3. What is Dish Technology’s position in the CSP
Market
4. Changes in the Dish CSP business landscape ‐
External/Internal factors
5. What are the drivers of this transformation
6. How does Dish CSP match its competitors
7. What does tomorrow’s landscape look like

4. Cornwell Group
Cornwell Group is a strategic management firm specializing in
working with clients to identify highest value opportunities, identify
critical challenges and transform their business prospects.
Cornwell Group brings together seasoned international industry
expertise in management consultancy, corporate finance,
manufacturing/ supply chain intelligence, technology review, new
market development and effective business strategy.
Cornwell Group –Strategic Planning that guides the effort to
completeness-the outcome can be powerful and position the
organization to dominate the competition
Cornwell Group Acquisition Team-provides quickly deployable and
professionally trained business development agents to research
and sell solutions, using this information to profile and acquire
customers

5. Cornwell Group
Dedicated to the Renewable Energy Market
Our Expertise is in
Technology
Manufacturing
Strategic Positioning
Financing
Market Development
Cost‐Down‐Supply Strategies

6. Solar Technology Landscape
CSP Conference

7. Who is in the Dish Market
.
Company Dish Size Cycle Stage
Stirling Energy 25kW Stirling 1.5MW Plant
Systems 1.5GW projects sold to PV
developers
Infinia 3kW Stirling Commercial
30kW 80MW Pipeline
CleanEnergy 50kW Brayton Pre‐Commercial
Ripasso 30kW Stirling Pre‐Commercial
SolarCat 100kW Brayton Protype on Line

8. What is Dish CSP Technology?
Concentrating Dish Solar Power uses mirrors to concentrate solar thermal
energy and convert it into heat. A working fluid or gas then drives a turbine
or engine to generate electrical power
Intertech Pira

9. A Dish CSP Unit has Four Major Subsystems…
Mirrors &
Structure
Electrical,
Dish Controls & Drives
System
PCU

10. A Stirling Engine‐Main Components
Cross section of stirling engine / receiver

11. Dish Technology –Peak Demand
R & D work is being developed for storage component

12. Dish Technology Benefits
Lower Cost Solar Has the potential to be one of the lower cost CSP
Technologies
High Efficiency Highest conversion efficiency of solar into grid quality
electricity
Allows maximum development in low water areas.
Lowest Water Use
Easier to permit as well as low ongoing water cost
Minimal Footprint & Low Minimal Grading. Limited Roads. Low Emissions.
Emissions Minimized impact to environmental/cultural
resources
Up to 10% slope tolerance allows development on
Terrain Tolerance
lands others can not use
EPC comprises roads, building & local transmission ‐
Straightforward Construction
highly analogous to wind construction
High Quality Power & Power generated at peak times and generated over
Robust Power Curve wide solar insolation range at high winds
Highly scalable due to modularity. 9 MW
Modularity & Scalability
commissioning reduces project completion risk

13. Water use of dish and other technologies

14. SolarCat‐Southwest Solar
Solar Cat Dish Recently Went online in Arizona
Developing a compressed air storage component

15. Infinia
The PowerDish's free-piston Stirling engine is a proprietary technology
developed and manufactured by Infinia Corporation.
The engine is a hermetically sealed system that does not require lubrication, has
no touching parts and no wear and tear.
Each PowerDish has a service life that exceeds 25 years. Once the engine is
sealed – engine designed to run for 25 years without any maintenance. Because
of its design characteristics, Infinia's engine is proving to have lower O&M costs
than 'kinematic' Stirling engines.
Currently used by NASA, the Department of Energy and other commercial
organizations, Infinia's Striling engine technology has nearly 1,000,000 operating
hours, the highest of all Stirling engine manufacturers.

16. Transitional Forces for Dish CSP
External Permitting Issues
Legal Injunctions Legal Constraints
Permitting Hurdles Development Financing
DOE Loan Timeline Transmission
Competitive Cost Early Stage Technology Risk Aversion
Reduction Competitor Cost Reduction
Internal Product Development
Technology Maqturity Early stage commercialization on grand scale
Corp Structure Legacy constraints
Mfg Constraints Supply Chain/Manufacturing early stage
Investment Fatique
Market Demands Market Requirements
Maturity Range Flexibility in development size
Pricing Component New Product reliabiltiy –time in field
Project size reduction O & M projection for 20+ years in field
O & M stability Cost Down –line of sight

17. Dish Transitioning to:
• Smaller Projects ‐ 1 to 20MW
. • Distributed Generation – local to load centers
Market
Segment • Combined Heat and Power Applications
• Scale smaller & larger dishes (Infinia, Australian ‘Big Dish’)
• Free Piston Stirling vs Kinematic Stirling
Product
Range • PCU technology ‐ Micro‐Turbine or CPV receiver?
• Utility/Industrial Customer Sales vs Vertically Integrated Developer/ Mfr
• In house design & manufacturing vs outsourced automotive model
Business
Model • Slower ramp – organic growth
• CA no longer dominant market
• Opportunities in AZ / NM / NV / TX / FL
Geography • Middle East / North Africa , India, Australia, Latin America

18. Cost Reduction Road Map
Today Tomorrow Key Drivers
Technology Innovators
Material Development (TF)
Storage Innovation (Trough)
Reflective Material
Dish Redesign-(CPV Use)
Vacuum Tube- (Trough)
Manufacturing Improvements
Press Process –(TF)
Automation Cell-(PV)
Glass Coatings (ALL)
Margin Contraction
Oversupply-PV modules
Competitive Buy-TF
Increase raw material dev-(PV)
Balance of Plant
Invertors Market Penetration
Facet Redesign for production
Manufacturing Maturity
Automation (PV)
Competition Mfg Supply (PV)

19. Opportunities & Drivers
$0.300
LCOE vs. Site DNI for different Installed cost
$0.280
Cities between 27.5 ‐ 31 degree latitude
Cities below 27.5 degree latitude
$0.260
2010 ($3.25/W)
$0.240 2011 ($2.90/W)
2012 ($2.45/W)
2013 ($2.11/W)
$0.220
LCOE ‐ $/kWh
$0.200
$0.180
$0.160
$0.140
$0.120
$0.100
4.8 5.3 5.8 6.3 6.8 7.3 7.8 8.3
DNI ‐ kWsh/M^2/day
Optimum opportunities at intersection of DNI and Political/Economic incentives

20. Conclusions
.
1. The solar market changes rapidly
2. Strategic planning is important to navigate
internal and external threats
3. Awareness of political and economic forces
and technological developments is vital
4. Market / regulator demand for dispatchability
will influence R&D for all CSP technologies.
5. New opportunities for solar Dish technology ‐
combined heat and power, CPV, DG
6. Tomorrow’s landscape will look very different!

21. .
Thank you
Cynthia Christensen
Cynthiac@Cornwellgroup.com
February 24 2011