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Embedded instrumentation and webweb-based diagnostic services for developers of large solar electric sites Gordy y Presher 585-388-4314 [email protected] i 2 Large solar arrays are underperforming …especially as they age p y y g i Corroborating evidence is substantial Initial quality, due to testing difficulty Harsh outdoor environments lead to small failures in the array. Average array losses are 2.5% per year, Average array losses are 2 5% per year 20‐year output can fall 50% Site monitoring can’t detect a 10% loss Only Only one measurement for dozens or hundreds of strings one measurement for dozens or hundreds of strings Monthly solar resource can vary +40% from expectation When financial return is linked to energy output, When financial return is linked to energy output, a small loss in energy harvest hits the bottom line hard. 3 The obvious solution Add array diagnostic and performance monitoring sensors y g p g Pinpoint failures for easy repair Analyze comparative performance data for fine‐tuning and warranty claims The challenge – cost Initial cost Installed cost Life‐cycle cost Life cycle cost Meeting the cost challenge – patent pending technology IInexpensive embedded sensors and communications i b dd d d i ti Virtually no installation effort or knowledge requirements Internet communications and cloud computing Internet communications and cloud computing Centralized software maintenance over the internet 4 Customer Value Proposition Invest 2% in instrumentation and diagnostic services Harvest more energy Reduce energy cost/kWh Reduce energy cost/kWh Cut your financial risk Double your bottom‐line Solar Sentry Economics Initial Revenue 1/3 Hardware, 2/3 Software Excellent margins Ongoing Revenue Ongoing Revenue i Web‐based diagnostic services Optional add‐in solutions 5 eSmartTM String Combiners Measure and compare solar panel strings p p g Find blown fuses, bad or weak strings Internet communications hub Wireless communications with Panel Sentries and String Optimizers Panel SentriesPP P Provide full diagnostics id f ll di ti Find intra‐string connection failures Find weak panels Find weak panels – collect on 25 year panel warranties PP Patents Pending in U.S., Japan, Canada and the E.U. 6 Beta Site Operational Installed May, 2009 50kW of DC power 50kW of DC power • 216 panels, in g • 24 strings, with • 9 panels/string Fully Instrumented Array • 2 “eSmartTM String Combiners” • 216 “Panel Sentry y Adapters” (one/panel) • Secure data every 6 min over internet over internet January 1, 2010, 3:30 PM – Solar Panel String Power (Watts) 845 844 840 838 829 836 838 831 903 898 866 766 845 77 852 376 January 1, 2010, 3:30 PM – Solar Panel Power (Watts x 10) 837 831 837 822 901 900 859 844 910 926 935 951 946 944 946 937 928 944 944 942 939 931 921 935 930 939 937 918 927 925 925 923 927 935 928 937 942 941 937 931 926 930 912 906 917 931 937 942 937 931 915 933 933 937 930 913 914 930 923 934 913 891 928 915 935 933 914 914 923 917 914 909 933 936 933 940 933 922 920 918 949 927 924 929 936 925 925 909 924 940 929 933 927 927 913 929 940 929 924 921 921 924 930 917 917 901 926 921 907 903 903 910 907 918 918 923 1006 990 1008 1004 1002 990 992 1024 1027 991 1005 993 1003 1001 984 972 1007 1001 1011 1002 978 976 1027 994 1025 1007 1005 984 892 937 976 950 990 976 988 958 971 966 957 960 958 842 960 968 968 1005 984 1003 997 981 986 993 1017 1005 948 982 968 938 856 904 928 972 962 107 106 106 40 16 103 106 107 106 982 954 938 871 976 980 982 966 938 875 980 984 988 960 942 859 992 936 515 520 516 175 147 489 521 518 515 977 970 970 754 960 984 994 966 768 Initial focus on Ontario Canada, New Jersey and New York g y p p Highly lucrative production‐based incentives & half‐price solar panels driving high growth g g p High growth, new markets in our sweet spot • 650MW of projects approved since Jan 1 in Ontario • Shipped 50kW order from NJ developer with 80MW of contracts • NYPA recently announced 100 MW of New York solar NYPA tl d 100 MW f N Y k l Direct sales to Solar Power Producers in these markets Executive‐level selling effort E ti l l lli ff t Focused on small numbers of relatively large accounts 8 Competition Site Monitoring – Incumbents Site uptime/inverter focused No array info costs owners $$$ Instrumented String Combiners ‐ Instrumented String Combiners Insurgents More granular problem detection g p Weak diagnostics and mitigation Solar Sentry Highly Engineered Insurgent Low cost – Low cost high capability high capability Supports Profit Optimization String/panel‐level data String/intra‐string diagnostics Targeted repair/mitigation Measurement Panel‐level Power Devices ‐ Techies Optimize energy production from each panel, especially in shade Residential/small commercial focus Residential/small commercial focus New solar array architectures raise risk, initial cost and cost/kWh for large sites Remediation & Mitigation Granular Detection Analysis Actionable Diagnosis Solar Array Profit Optimization Cycle Optimization Cycle 9 Gordon Presher: CEO Co‐founder of Ormec Systems Corp, developer of precision motion control developer of precision motion control hardware and software for automation, CEO over a period when the company ggenerated $200m in revenue Solar industry participant since 2003 Currently a Director of ATS Automation Tooling Systems Inc (ATA TO) Tooling Systems, Inc. (ATA.TO) Thomas Currie: VP Sales Successful sales & delivery of telecomm consulting services at Peat Marwick Carl Warren: Chief Engineer Principal engineer at ABB Kent Taylor for MOD 30, one of the most widely used MOD 30, one of the most widely used control systems in the process industries Significant design experience in embedded‐systems hardware /software embedded‐systems hardware /software Outside Directors Neil Arnold, Board Chair, ATS Automation , , John Keane, President, King Hill Capital John Farmelo, VP, Bradford Energy LLC Started and ran telecomm consulting business for seven years Significant success selling software & high‐ level services at C.A. i 10 Financial Summary 2010 2011 2012 2013 2014 Customers (total) 5 11 29 50 79 New Sites per Year 4 41 91 176 312 $0.12 $4.2 $21 $48 $96 $0 10 $0.10 $0 25 $0.25 $0 5 $0.5 $0 5 $0.5 $0 5 $0.5 --- $1.9 $12 $28 $54 --- 46% 58% 58% 56% ($0 64) ($0.82) ($0.64) ($0 82) $5 9 $5.9 $17 $34 28% 35% 35% Revenue G t Grants Gross Margin EBITDA (all $’s in millions) i 11 Raised $1.3m Seed‐stage Equity and $250k in Grants Technology, test sites & marketing First commercial shipment – August 4, 2010 LOI for $8‐9 million over 2‐3 years f y We are seeking a $2 We are seeking a $2‐3 3 million capital raise i Use of funds Move products from R&D to production Build inventory and support marketing, sales B ild i t d t k ti l and shipments while building a Data Center Reach cash flow breakeven in 12‐18 months Why Invest in Solar Sentry? Growing opportunity in high‐growth markets Identified customers and projects Identified customers and projects A major upside opportunity with two public‐ company partners High growth investment – High growth investment timely exit in 3‐5 yrs timely exit in 3 5 yrs $1.4 $1.2 Total Addressable N.A. Market (billions) $1.0 $0.8 $0 6 $0.6 U.S. Utilities Ontario U.S. IPPs $0.4 $0.2 $0.0 2010 2011 2012 2013 2014 12 i Study of 15 largest sites reporting to the IEA Average normalized production 14% below expectation Top 3 sites 20% above average, bottom 3 sites 29% below average T 3 it 20% b b tt 3 it 29% b l i SolarMagic Case Study at Oakstreet in Oakland, CA At 32 months, output dropped 13%... Undetected by site‐monitoring , p pp y g i Analysis of 100kW PV Site at Natural Bridges National Monument After 20 years – Modules down 10%... Array down 50% O i S l i i Ontario Solar Farm Economics i Final Report of the European MTBF Project Toledo Ten Years On i Toledo, Ten Years On A 10‐year report on Europe’s first megawatt‐scale solar PV site i Photon Magazine’s Report on Solar Panel Performance “Not up to Snuff” i PV System Efficiency Possibilities History at Kaco Solar History at Kaco Solar Õ 13 History of PV System Performance in Germany (Systems managed by Kaco Solar) 90.0% P Performanc ce Ratio 85.0% 80.0% 75.0% 70.0% Blue bars illustrate +8% performance deviation from average. 65.0% 60.0% 2000 2001 2002 2003 2004 2005 Jahr Source: KACO Solar - Germany's y 2nd largest g solar inverter manufacturer f Õ 14 Source: The European MTBF Project Report Õ 15 3 Seconds over Boston June, 2006 National Geographic Magazine Gordy Presher, [email protected] 2‐20‐2009 16
