Nick Morgan

Finances● 2014 Revenue: $3,027,260,000

Total Costs: $2,776,030,000● 21.07% sales growth in 2014● 66% owned by Total, third

largest oil company in Europe

History● Founded in 1985 by Dr. Richard

Swanson using technology invented at Stanford

● Acquired PowerLight Corporation for $332 million in 2007, SunRay Renewable Energy for $277 million in 2010

● In 2014, described as Silicon Valley’s leading solar panel manufacturer

Standard Solar Tech● Standard solar cells made of chemically treated silicon which generates

electricity when hit by the sun● Paradox in wiring design: larger wires lower electrical resistance and increase

efficiency but reflect light● Wires are also susceptible to corrosion!

Maxeon Solar Cell● Proprietary technology invented at

Stanford before the company was founded

● Same silicon sheet, but entire face covered by transparent electrode material

● More expensive, but more efficient and robust

Efficiency, and What That Means● World record holding sunlight to electricity conversion efficiency of 24.2

percent● Power generation is measured in Watts per square yard of panel, most solar

technology hovers at around 200 Watts● Light bulbs use 60 Watts!

Competition

They Will Probably Be Fine● Too many idiosyncrasies in each installation for a market leader to emerge

due to product alone● Industry is effectively propped up by government subsidies and large scale

contracts

Questions?