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Clean Technology

Clean Technology

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Clean Technology

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  1. Clean Technology North American Wind & Solar Industries Sung Ha Chung Siming Li Stefanie Wong Weiting Chen

  2. Agenda • Overview • Revolution of Clean Tech • Energy Generation Segment • Wind & Solar Energy • Companies • First Solar Inc. • Canadian Solar Inc. • ETF • Global Wind Energy Index Fund

  3. Clean Tech Industries Overview

  4. Revolution of Clean Tech • In the 1970s, clean tech was considered “alternative” • Environmentalism and lifestyle advocates • Too expensive & lack of political support “Clean technologies are designed to provide superior performance at a lower cost while creating significantly less waste than conventional offering – promises to be the next engine of economic growth.” – Ron Pernick Source: The Clean Tech Revolution by Ron Pernick

  5. Revolution of Clean Tech • Six reasons why it is prevalent today • Costs • Capital • Competition • Consumers, • Climate • China

  6. Key Industry Segments • Energy Generation • wind, solar, geothermal, etc. • Energy Storage • Fuel Cells, Advanced Batteries • Energy Infrastructure • Energy Efficiency • Transportation Source: Cleantech Group

  7. Industry Segments • Water & Wastewater • Air & Environment • Materials • Manufacturing/Industrial • Agriculture • Recycling & Waste Source: Cleantech Group

  8. Energy Generation Overview

  9. Energy Generation • Wind • Solar • Hydro/Marine • Biomass • Geothermal • Other

  10. US Energy Production and Consumption 2009 Source: US DOE

  11. US Energy by Energy Source 2000-2009 Production Consumption Source: US DOE

  12. Cost of Renewable Energy by Technology 2009 Source: US DOE

  13. Cost of Conventional Energy Source: First Solar Inc.

  14. US Capacity & Generation 2009 Source: US DOE

  15. US Capacity & Generation 2009 (excluding hydropower) Source: US DOE

  16. US Capacity & Generation 2009by Source Source: US DOE

  17. Top States for Renewable Electricity Installed Nameplate Capacity 2009 Source: US DOE

  18. Top States Renewable Electricity Installed Nameplate Capacity 2009 Source: US DOE

  19. Renewable Electricity Capacity Worldwide Source: US DOE

  20. Worldwide Renewable Electricity Generation Capacity Source: US DOE

  21. Top Countries with Installed Renewable Electricity Source: US DOE

  22. Top Countries with Installed Renewable Electricity by Technology 2009 Source: US DOE

  23. Industry Development • Global renewable electricity installations have more than tripled from 2000-2009 • Renewable energy accounts for 21% of global electricity generation (including hydropower); 3.8% excluding hydropower • Wind and solar PV fastest growing; capacity grew 14x between 2000-2009 • In 2009, Germany led the world in cumulative solar PV installed capacity. The US leads in wind, geothermal, biofuels, and CSP

  24. Government Energy Subsidies • Industry reliant on government subsidies • Subsidies takes 4 main forms: • Direct Expenditures • Tax Expenditures • Research and Development • Targeted Programs & Indirect support(i.e.: Loans Guarantees programs by US Department of Agriculture)

  25. Feed-in Tariff • Industry benefited from introduction of feed-in tariff (FiT) • a policy mechanism designed to encourage the adoption of renewable energy • As a government mandate, utility companies pay the homeowners, business and organizations to generate their own electricity • First implemented in US in 1978 by president Jimmy Carter • As a reaction to 1970’s energy crisis • As of 2009, FiT enacted in 63 jurisdictions around the world • Denmark, Spain, and Germany

  26. Government Energy Subsidies in 2007 Source: US EIA

  27. Wind Energy Industry Overview

  28. Wind Energy Technology • Two modern wind turbines • Vertical-axis • Horizontal-axis Vertical-axis wind turbine Horizontal-axis wind turbine

  29. Wind Farms Onshore Wind Farm Offshore Wind Farm

  30. How Do Wind Turbine Works

  31. Industry Development • US installed wind energy capacity increased almost 14x between 2000 and 2009 • US wind experienced record growth in 2009 and nearly 10 GW of new capacity was added • Texas led the United States in wind installations in 2009, installing more than 2,292 MW of wind capacity • In 2009, average price of wind power was about $0.40 per kilowatt hour — a price that competes with fossil fuel-generated electricity • In 2009, China surpassed US as the world leader in annual installed wind capacity, with more than 13.8 GW added.

  32. *Estimated from 2010 contracts Industry Performance • $13.13 billion in revenues in 2010* • Contracted 0.3% annually since 2005 • Recession and competition from other alternative energy sources Source: IBIS World

  33. Turbine Manufacturers Source: US DOE

  34. US Wind Energy Nameplate Capacity and Generation Source: US DOE

  35. US Wind Power Sales Price Source: US DOE

  36. Wind Energy Capacity 2009 Source: US DOE

  37. Solar Energy Industry Overview

  38. Solar Energy Technology • Solar Thermal • Uses energy from the sun to heat water & buildings or generate electricity • Photovoltaic (PV) Systems • Conversion of sunlight directly into electricity • PV solar panels • Concentrated Solar Power (CSP) The solar furnace at Odeillo France PV CSP

  39. Industry Development • Solar energy electricity generation has nearly 4x between 2000 and 2009, but still represents a very small part of overall U.S. electricity generation. • Countries with aggressive solar policies—such as Germany, Spain, and Japan— lead the world in solar photovoltaic (PV) deployment. • China is the market leader with nearly 40% of the global PV cell production. • A number of concentrating solar power (CSP) plants came online in 2009, including 12 MW in the United States and 120 MW in Spain.

  40. *Estimates Industry Performance • $57.98 billion in revenues in 2010* • Annual growth of 4.7% 2005 • Higher levels of electricity generation and higher price Source: IBIS World

  41. Photovoltaic Manufacturers Source: US DOE

  42. US Solar Energy Capacity and Generation Source: US DOE

  43. US PV Power Sales Price Source: US DOE

  44. Solar Energy Installed Capacity 2009 Source: US DOE

  45. Security Analysis: First Solar Inc.

  46. Stock Performance – 1 Year

  47. Stock Performance – Max

  48. Comparison of 37 Month Cumulative Total Return Source: First Solar Annual Report

  49. Company Snapshot • Formed in 1999 and launched production of commercial products in 2002 • IPO on Nov17, 2006 • 1st pure-play renewable energy company added to the S&P 500® composite index • Ranked #7 on Fortune's list of 100 fastest growing companies, and #1 on its list of profit growth for energy companies.