Kyocera Corporation · TSE:6971
Kyocera — Investor Presentation (September 2008)
23 slides from Kyocera's investor presentation, Sep 18, 2008
Slide 1: Solar Energy Business Developments
Solar Energy Business Developments Tatsumi Maeda Director & Senior Managing Executive Officer September 18, 2008 General Manager of Corporate Solar Energy Group KYOCERA CORPORATION
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain of the statements made in this document are forward-looking statements (within the meaning of Section 21E of the U.S. Securities and Exchange Act of 1934), which are based on our current assumptions and beliefs in light of the information currently available to us.
Slide 3: PV Global Market Trend
PV Global Market Trend 2
Slide 4: Contribution of Subsidies to Expansion of European and U.S. Markets
Contribution of Subsidies to Expansion of European and U.S. Markets Europe USA Feed-in Tariff Incentives Net Metering RPS Feed-in Tariff Incentives + RPS + Net Metering Spreading Feed-in Tariffs Growing Incentives ⇒ 22 countries ⇒ 38 states Please refer to accompanying note on page 1. RPS: Renewable
Slide 5: Toward the Realization of Low-Carbon Society of Japan
Toward the Realization of Low-Carbon Society of Japan Photovoltaics Ｍｋｌ Public 40× 13 14 & Industrial Public to VS. 2005: 3,000MW 12 53.1GW 10× Around & Industrial Residential for PV 300MW 3,200k homes 10 Equivalent to 70% of new houses 8 Residential 6.69 320k homes Around 14.3GW 6 for PV 4 Around 1
Slide 6: Principal Market Outlook
Principal Market Outlook EU 3.6× Japan 4.7GW 0.9GW 4.5× USA 10.4× 3.6 3.2 2.6GW 0.5 GW 0.4 0.3 GW 1.8 2.3 2.4 0.2 0.2 0.2 GW 2.0 1.4 1.3 FY08 FY09 FY3/08 09(E) 11(E) 13(E) FY11 FY13 1.0 0.4 India Korea 0.25 0.35 0.25 0.9GW FY3/08 FY08 09(E) FY09 11(E) FY11 13(E) FY13 8.3× 30× GW 0.7 GW FY3/08 FY08 0
Slide 7: Comparison between Expansion Plans of Material Manufacturers and Market Requirements
Comparison between Expansion Plans of Material Kton Manufacturers and Market Requirements 200 Required Amount of Material for Semiconductors + Solar Products Requirement for 150 Solar Products GRAY New material manufacturers 100 Requirement for Semiconductors Material 原料不足 Shortage 50 YELLOW Existin
Slide 8: Demand Forecast in Four Principal Markets
Demand Forecast in Four Principal Markets GW 25 Large Power Plants 20 15 Public & Industrial 10 Residential 5 Stand Alone 0 FY3/07 FY07 08 09 10 11 12 13 14 15 16 17 Forecast Estimate by Kyocera Corp. Please refer to accompanying note on page 1. 7
Slide 9: Overseas Solar Photovoltaic (PV) System Manufacturers
Overseas Solar Photovoltaic (PV) System Manufacturers Cell / Module Maker ★ ● Solon ● Major ★ ★ ★ Q-Cells ★● ★ ●★★★ ★ New ★★ ★ ★★★★●● Conergy ★ ★★ ● ★★ ★★ ★●★EverQ ★ ★★★ Ersol●★ ★★ ★★● ★★● ★ ★★ SolarWorld ● SCHOTT ★● Wurth ★ ★ ★● ● Wacker ★ ★ ★ ●★ ★★● ★ ★ ★ ★★★ ★ ★ ★ ● ★★★ ● ● ★ ★★ ★ ● ★ ● ★ ● ★★ ★
Slide 10: Market Conditions: Overview
Market Conditions: Overview Expansion of subsidy policies Europe, US, Korea, etc. ⇒ Continuous market growth ＋ Increase in production of material Increase in production volume by existing manufacturers + new entrants ＝ ⇒ Stabilization of supply and price Rapid increase in number of ＞ 300 Companies m
Slide 11: About KYOCERA Solar
About KYOCERA Solar 10
Slide 12: Technology Market Trend
Technology Market Trend GW Multi c-Si (kyocera) T/F Si CIGS CdTe 12 100% Current Module Efficiency (%) 10.9GW GW 16 14.1% Kyocera 90% 10 14 F company G company 80% 10.9% 11.0% 8.7 12 A company C company D company 70% 8 8.5% B company 8.6% 9.6% 10 8.3% n H company 7.0 i o 60% E company 10.4% ns 6 8 8
Slide 13: Influence of conversion efficiency on Solar System Costs
Influence of conversion efficiency on Solar System Costs 14% 8% construction cost 100% Up significantly Construction cost Mounting racks 80% Rack, etc. approx. 1.7 times Inverter Inverter 60% 40% Solar cells No. of cells 20% approx. 1.7 times 0% Residential Multi c-Si Multior c-SiThin Film or Thin 勝
Slide 14: Improvement of conversion efficiencies
Improvement of conversion Cost competitiveness: efficiencies Improvement of conversion efficiencies Silicon Solar cells Solar Casting Cutting Wafer slicing modules ○ ○ ○ ○ Improvement of Optimization of slicing conditions Passivation Optimization of crystalline Reactive Ion material Improvement qual
Slide 15: Cost competitiveness: Productivity
Productivity Cost competitiveness: Productivity 1. Higher cell efficiencies Back Approx. 17% Current: Contact improvement from ２BB ３BB Cell current power output FY3/05 FY09 FY10 Conversion efficiencies 15.7% 16.5% 16.5% 17.5% Target 18.5% Power output 3.67W/cell 3.86W/cell 4.06W/cell 4.26W/cell 4.50
Slide 16: Development of Differential Products
Development of Differential Products Snow resistance Snow resistance Building unifiable Design oriented Design oriented High temperature resistance High temperature Compact stand-alone resistance power source Black Compact stand-alone Back sheets power source High temperature resistance Snow resista
Slide 17: PV Modules for 5400Pa, Black Modules, Frameless Modules
PV Modules for 5400Pa Black Modules Objective: Snow resistance (5400Pa) Objective: Better appearance Challenges: Frame strength Challenges: High temperature resistance Module durability Snow load analysis Direction Direction of of Direction Direction of of TEMP. Analysis short short frame frame long
Slide 18: Development of Solar Modules
Development of Solar Modules FY3/05 ・・・・・ FY09 FY10 Target 180μm Larger 15.7% 16.5% 16.5% 17.5% Cell Cell 2BB 3BB Back Contact 156mm×156mm 200W 210W 175W High power 220W output Module Black Module Frame less Snow resistance (5400Pa) Please refer to accompanying note on page 1. 17
Slide 19: No.1 Quality Evaluation in Germany
No.1 Quality Evaluation in Germany **in 15 Makers (Best: 1.0, Worst: 6.0) Output Evaluation Durability Items Reliability Installation Quality is KYOCERA True “DIFFERENTIATION” with THE QUALITY Please refer to accompanying note on page 1. 18
Slide 20: Major Characteristics Required of Solar Cells
Major Characteristics Required of Solar Cells ・ Reduce total system cost, including installation cost ・ Stable long term output (high reliability) 1. Costs Factor with biggest impact on costs, ⇒ Conversion efficiency Kyocera’s back contact cells: 18.5% VS thin-film 8~11% 2. Long-term reliability Kyo
Slide 21: Kyocera's Production Expansion Plan of PV Systems
Kyocera's Production Expansion Plan 700 of PV Systems 650MW 600 550MW Back Back Contact Contact Cell Cell 500MW 500 High High Efficiency Efficiency 18.5% 18.5% 400MW 400 California Solar 300MW 300 Initiatives Amendment to EEG 200 in Germany Residential subsidies EEG 100 in Japan in Germany (until FY
Slide 22: Sales and Production Bases Worldwide
Germany Singapore China South Korea Japan Australia USA Brazil 8 sales bases worldwide “Salesrelationships network built on long-term of trust” Germany “Anticipating customer needs” Beijing USA Czech Republic S-Korea Kyocera Mexico Tianjin Japan Mexico 240MW/yr Ise 150MW/yr Plant construction Singap
Slide 23: THE NEW VALUE FRONTIER
THE NEW VALUE FRONTIER re KYOCERA