Oct 2019 Conference C Case Oxford PV FINAL PDF Distribution

Perovskite Production Panels Perovskite Technology for Mass Production 24 – 25 October 2019 Hangzhou, CN Dr Christopher Case Chief Technology Officer Solar PV costs drop by 200x Source: BNEF – Economics of PV Power 100 10 1 0.1 1 100 10,000 1,000,00 1976 $100 / watt $0.5 / wattWhy does efficiency matter?17% 3% Balance of system Module Balance of system 50% Module 33% Cell 17% Increase cell efficiency by 20% Overall saving Reduce cell cost by 20% Why does efficiency matter? 20% of total installed cost coming from PV cellCrystalline silicon technology roadmap p‐type n‐type PERC AI‐BSF Passivated contacts Heterojunction Tandem cell heterojunction + perovskite Step change in technology 19% 22% 23% 25% 30%+ Practical silicon limit Nearing the SQ limit – silicon flatlinesMore junctions more power, but still a fundamental limit 31% single junction SQ limit (BB), 43% for two, 50% for three… Multijunction SQ limit Incoming spectral power density Martin et al. Solar Energy Materials and Solar Cells 43p. 203 1996 One sun Maximum concentration One sun limit 100 80 60 40 20 0 2 4 6 8 10 Number of junctions or absorption processes Detailed balance efficiency (%) Efficiency limit higher in multijunctionPerovskite-silicon tandem PV cells Oxford PV’s perovskite-silicon tandem solution Technology disruption without business disruption Energy converted by silicon cell Wavelength Silicon cell Energy Wavelength Silicon layer Perovskite layer Energy Tandem cell Efficiency 30% possible Silicon cell: Efficiency limited to ~25% Additional energy converted by perovskite cellPerovskites in tandem solar cells 2 terminal vs 4 terminal Monolithic 2-Terminal Mechanical stack 4-Terminal Optical beam splitting reflective Tandem cell architecture – 2 terminal Commercial deposition tools Contact grid (Ag paste) Front electrode (ITO) Buffer n or p-type layer p or n-type layer Metallic back electrode top cell bottom cell Si wafer Transparent interlayer Edge deletion Perovskite absorber (PbI 2 based)SHJ and TOPCon structures and simplified process flow SiO x n-poly Si SiN x p-doped Si Al 2 O 3 SiN x Si (n-type) wafer cut Damage removal and texture PECVD i a-Si PECVD n/p a-Si PECVD p/n a-Si TCO deposition Metallisation print and cure wafer cut Damage removal and texture p-doping Single side polish + Oxidation LPCVD n poly-Si Al 2 O 3 passivation (front) SiNx:H deposition Metallisation print and fire • Facile tandem integration due to full area electrically conductive front surface • Highest V oc potential (740 mV) of c-Si technologies and lowest TCE • Tandem integration difficult due to SiNx layer • Very high V oc potential (720 mV), but removal of atomic H source (SiNx layer) decreases carrier lifetimes leading to significant V oc reductionPredicting monolithic tandem efficiency Take best-in-class sub-cells, combine diode equations and simple TMM optics TMM optics m, R S ,R SH , EQE EL AM1.5 Optical constants Tandem PCE Hoerantner et al Energy Environ. Sci., 2017,10, 1983-1993 Perovskite-silicon 2T tandem efficiency prediction 20% PVSK + 23% SI = 33%. with 20.5 mAcm ‐2 matching reach 33% Hoerantner et al Energy Environ. Sci., 2017,10, 1983-1993 Progress - 28% certified 1 cm 2 monolithic tandem December 2018 - IEC reliability tests passed ~40 mA/cm 2Its all about reliability Light soak @ 60 o C R&D and full size cells passed all key IEC industry wafer level accelerated tests Damp heat 85 o C/85% Rh (Hours) 2016 2017 2018 R&D cell passed 765kWh/m 2 (300-800nm) Full size cell passed UV16kWh/m 2 (280-400nm) R&D cell passed 1000 hours R&D passed 2000 hours Full size cell passed 1000 hours Full size cell passed 2000 hours R&D passed 3000 hours Key industry tests Thermal cycles (-40 o C to +85 o C, 200 cycles ) R&D cell passed Full size cell passedScaling the technologyJourney to perovskite solar cell technology From Professor Henry Snaith’s Oxford University lab 2010 Oxford PV established 2012 Professor Snaith’s perovskite paper 2014 Perovskite-silicon tandem solar cell development 2015 First perovskite- silicon tandem solar cell 2016 Thin film pilot line facility acquired Major industry partner Strategic investment 2017 First industry sized perovskite-silicon tandem cell produced European funding 2018 Record breaking cell New research and development campus 2019 First 60 cell full size perovskite-silicon modules fabricatedOxford PV R&D center - UKOxford PV industrial site – Germany 17,000m 2Oxford PV’s perovskite-on-silicon tandem solar cell Horizontal processing Enables full area coverage – 3000 to 5000 wafers per hourLeading investors £110 million raised to date £0.7 M raised 2011 Seed round £65 per share (post-money valuation £1.65 M) 2013 ‘A’ round £115 per share (post-money valuation £9.2 M) 2015 ‘B’ round (2 closes) £250/£280 per share (post-money valuation £39 M) 2016 ‘C’ round (2 closes) £300/£325 per share (post-money valuation £65 M) 2019 ‘D’ round (2 closes) EIB funding (None drawn to date) £5.2 M raised £12.6 M raised £16.8 M raised £65 M raised £13 M loan facility £10 M raised 2018 convertible loan250 MW manufacturing – raise it, spend it Timeline for commercialisation - 2020 2020 Pilot line 2019 / 2020 2019 Scale up Silicon cells initial volumes 250 MW manufacturing Tandem cells initial volumes PV manufacturing factory block diagram R&D Engineering Fab design and expansion Incoming wafer inspection Cell workshop Module workshop Warehouse Marketing Planning Product management Sales Supply chain Facilities, water, gases, chemicals, waste treatment Quality, reliability, material analysis Logistics Cost calculation and control First 100 MW HJT line ordered © Meyer BurgerProduction Costs and LCOEPerovskite-silicon tandem modules Predicted cost of 60 cell 380W tandem modules Cost model assumptions: • 1 GW mass production plant located in Europe • 380 W tandem modules • Tandem cell efficiency 27% • Module efficiency 23% Annual cost € / cell € / Wp Percentage Capex (7yr depreciation) € 22,420,552 € 0.12 € 0.02 6% OpEx € 338,980,766 € 1.89 € 0.30 94% Utilities € 5,240,670 € 0.03 € 0.00 2% Materials % Consumables € 116,750,956 € 0.65 € 0.10 32% Labour € 21,414,500 € 0.12 € 0.02 6% Bottom cell cost € 194,998,352 € 1.09 € 0.17 54% Floor space € 354,492 € 0.00 € 0.00 0% Waste disposal € 221,796 € 0.00 € 0.00 0% Total Cost of Ownership € 361,401,318 € 2.01 € 0.32 100%It is all about LCOE Low High Efficiency LCOE Low High Multi BSF Mono BSF Mono BSF PERC bifacial Passivated Contact Heterojunction Perovskite tandem Energy Yield Model Predictions • EY greater for tandem than for silicon only • De-rating factor from power to EY is similar to silicon “For a given power rating: How much more or less energy does a tandem cell yield compared to standard si-cell?” • Advantage: Blue response • Disadvantage: Spectral mismatch First model predictions at cell level show derating similar to silicon Hoerantner et al Energy Environ. Sci., 2017,10, 1983-1993 Energy yield modeling approach Example: June 28 th of a typical meteorological year in Phoenix, Arizona 0 0.2 0.4 0.6 0.8 1 1.2 0:00 6:00 12:00 18:00 0:00 Normalized Jsc Top cell Bottom cell Lehr et al Energy yield modelling of perovskite/silicon two- terminal tandem PV modules with flat and textured interfaces (submitted)0 5 10 15 20 25 30 35 40 45 2018 2019 2020 2021 2022 2023 2024 2025 LCOE USD per MWh Perovskite tandem market penetration 20 MW scale 100 MW scale 1 GW scale Transforming solar economics Source: GTM Research, ITRPV 9th Edition, Oxford PV Perovskite tandem LCOE Silicon LCOEAccelerating the adoption of solar Global electricity demand Accelerating the adoption of solar 2000 2010 2020 2030 2040 0% 100% 50% Silicon Primary energy use Perovskite tandem Oxford PV accelerating solar adoption 2050The future is all-electric www.oxfordpv.com chris.case@oxfordpv.com