Distributed Electronics: More than shade mitigation

September 2011

Agenda

• Distributed electronics market• The opportunity• Where we’re going

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Distributed Solar Electronics Market

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• Market is very vibrant and growing rapidly

• 2011 growth expected to by more than 100%

• Nearly 2 GW expected to ship in 2014

• Tigo Energy now shipping 10,000 u / wk

• Has become accepted globally

MORE ENERGY

DESIGN SIMPLICITY

MODULE VISIBILITYENHANCED SAFETY

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• Lower the cost of energy production

• Lower the cost of system ownership

• Enable IT-based new business models

• IT based O&M

• Performance based financing

• Integrated building management

• Performance forecasting & site planning

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Tigo Energy’s Approach

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How?

UNPARRELLED EFFICIENCY

OPTIMAL RELIABILITY

“NET ZERO” COSTADVANCED ANALYTICS

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Impedance Matching

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• Algorithm-based approach• Precise mathematical calculation of peak

power point for each module• Works with any inverter• No use of trial-and-error• Industry-leading efficiency of 99.5%• 6 patents issued; 42 additional patents

submitted

Tigo Energy is the only company producing this type of architecture

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Tigo Energy ™ Maximizer Solution

Lowest On-Module Part Count• Cost scaling• Improved module reliability• Quick path to module integration

Highest Efficiency• Very little heat disappation• Power scaling to 350W and beyond

“Vertical” solution• Use any inverter (on-grid or off)• Use any module type

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Tigo Energy Product Cost Roadmap• 2ES product to be

announced at SPI (Oct), and shipping in Q4

• Integrated J-Box product expected to ship in 1st half 2012

• Tigo Energy is the only DC optimization product with 350W (and soon, even greater) power output capacity

– Further leverage to lower overall system costs

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ES 2ES J-Box Hi Power Output $-

$0.02

$0.04

$0.06

$0.08

$0.10

$0.12

$0.14

$0.16

$0.18

Tigo Energy Cost Per Watt Declines Significantly

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Integration Path

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Smart Module-Optimized Inverter

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• Eliminate boost stage for US inverters– 1.5% efficiency increase– 30% better reliability– 25% cost reduction

• US: Longer strings reduce electrical BoS cost by 20%

• This neutralizes the only advantage DC-to-DC converters had

Cost Reduction Already Pays For Tigo Energy In Residential This Year

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Time

Tier I inverter manufacturer retro-fit of 9-year-old site: 35% power improvement

lab test: 3-4% power improvement

Over time, energy harvest grows:• Projected lifecycle degradation happens at varying speeds• System components suffer undetected failures• Production can be impaired by environmental effects• Soiling accumulates at varying rates

Residential (S

haded)

Energy Harvest

Energy Harvest Improves Over TimeMore Energy

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Tigo Energy on Unshaded System Improves Production by 8%

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Tigo Energy Installed on Blue Array

More Energy

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Advanced Analytics Enables IT Based Service

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Sampling frequency• Every 2 seconds

Sampling accuracy• 0.1% sampling accuracy on I, V

Synchronous sampling• Eliminates time based &

environmental “noise”

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Tigo Energy Improves Commercial ROI by 20%

Tigo Energy project costs yield >50% IRR on a commercial-scale installation

Tigo Energy Confidential – Not for Redistribution 14Note: Assumes 1MW system size, 3.5% incremental harvest in year zero, 0.5% degradation mitigation, and $0.25 FIT with no annual escalator. Assumes no optimized inverter.

Net Cost of Tigo EnergyHardware CAPEX $136,250Incremental installation labor $1,825Avoided cost of monitoring ($40,000)Reduced cost of commissioning ($1,250)Inverter cost improvement ($27,033)Insurance cost savings ($5,000)Investment Tax Credit ($19,438)Net Cost of Tigo Energy System $45,355

Summary

• Distributed Electronics– Value beyond shade mitigation

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Contact:

1 (888) 609 - TIGO (8446)sales@tigoenergy.com

It’s what everybody is squawking about!