An Alternative PV Module Manufacturing Model Ed Hurley September 6, 2011 An Alternative PV Module Manufacturing Model Ed Hurley September 6, 2011

The Turn-key Solar Factory Company Spire Corporation (Nasdaq: SPIR)

Alternative Module Manufacturing Model Converting Laminates into Modules Low cost way to expand or enter into market Reduced Financial risks – Lower CAPEX, start-up costs Lower operating cost – Higher yields – Leverage low cost Laminate suppliers Accelerated Market Entry – Design ready laminates= faster certification From Laminate to Module

Post Lamination Assembly = FAST Line Final Assembly Simulation & Test – Post Lamination module line LEAN manufacturing principles. – Quick and low-cost startup for module assembly. Consistent, high quality output. Easily deployable into any region – Take advantage of local incentives

Laminate to Module FAST Line

Important Equipment Considerations Equipment similar from line-to-line – Work with high quality PV equipment supplier Level of automation affects staffing and price – Semi-auto, automated, fully automated Line should be flexible and configurable Do not focus on cost at expense of metrology – Metrology is critical to success of line Need high quality Simulators & EL systems Database management increasingly becoming more critical

Framing – Configurable for tape or sealant Junction Box – Configurable for different j-Boxes Simulation – Performs IV test to IEC/UL standards EL – Module inspection, cracks/microcrack Packout – Bin and box module Typical Module Equipment

Selection of Equipment Supplier Use known reliable equipment Support services crucial – Planning – Project management – Installation & ramp-up support – Training Ability to develop customized financial models – What is best suited for your application Ability to provide Module certification assistance Help with supply chain – Especially on high-quality laminates that will work with the line

Payback on Investment Must have detailed financial model Review trade-offs on equipment, materials, process Module Sale Price ($/W)$1.35 Solar Laminate Cost ($/W)$1.00 Other Costs* ($/W)$0.20 Gross Profit ($/W)$0.15 Less SG&A$0.08 Net Income ($/W)$0.07 * Other Costs include (O&M, Labor, Non-Laminate Materials, Overhead, and Depreciation)

Summary World market is continuing to grow FAST Lines ideal way to capitalize on market conditions – minimal capital expense & reduced risk FAST line is scalable and flexible for future expansion Carefully select your PV equipment supplier Carefully study financial models

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