February 2013

1. SunPower® Solar PanelsReliability,Production,Efficiency February 2013

2. SunPower solar panels are different. SunPower solar panels are better.

3. The Heart of the SunPower Panelis the Maxeon®Solar Cell • SunPower is the only manufacturer offering a copper-plated cell – all the conventional cells are made by baking a metal paste onto the silicon wafer – just like screen-printing a logo onto a T-shirt • The Maxeoncell has a Fundamentally Different design from a conventional solar sell: it’s built on a solid Copper foundation • Copper plated cells cost more to manufacture than conventional solar cells, but the investment pays of with a much more durable and high-performing solar cell. SunPower Panel with Maxeon Conventional Panel (same size) 240W 327W FRONT BACK Thin lines of metal paste Full-coverage metal paste FRONT BACK No metal Copper-plated

4. Reliability

5. Maxeon Solar Cell Vs. Conventional Solar Cell Maxeon Solar Cell (Back) Conventional Solar Cells (Front) Thin lines ofbaked-onmetal paste Thickcopper-plated foundation Soldered copper ribbons Strain-relieved copper bar connectingcell-to-cell Ribbons connectcell-to-cell Thick copper (tin-plated) is robust against corrosion. No soldering along the length of the cell Copper bar connecting cells has robust copper-to-copper soldering, strain-relief, and double-redundancy. Solid copper foundation maintains the cell energy production even if the silicon cracks. • Very thin screen-printed metal lines on the front of the cell are susceptible to corrosion over time • High-stress solder joints between the long copper ribbons and the crystal solar cell • As the panels get hot in the day and cold at night the copper expands but the silicon cell does not. • Over time, this repeated stress causes cells to crack and solder bonds to break. • Single points of failure on copper ribbons between cells. • Screen-printed metal paste has no strength to hold the cell together when the silicon cracks

6. Third-Party Reliability Testing • In 2012, Fraunhofer selected SunPower and 4 other top manufacturers’ panels to rank based on their reliability • Test results are anonymous to participants, but the conventional panels were selected from the top six crystalline silicon module manufacturers: SunTech, Yingli, Trina, Canadian Solar, Sharp, Hanwha SolarOne. • 20 panels per manufacturer were purchased directly by Fraunhofer from distributors and installers • The PDVI Test Protocol included: Temperature cycling, Humidity-Freeze cycling, Damp Heat exposure with +/-600V, Ultra-violet light exposure, static and dynamic mechanical load testing • SunPower panels came out #1, with an average power drop of 1.3% across all panels2 • The average power drop of all the conventional panels was 5.3% … 4x higher • SunPower’s most degraded panel dropped by 2.3% power, while the Conventional panels showed a much wider variation, with as much as 92% degradation. • Atlas, a subsidiary of Ametek, has been the leader in durability testing of materials for more than 90 years, and developed the “Atlas 25+ PV Durability Testing.” • 3 panels tested per manufacturer: Salt Spray Corrosion, Humidity-Freeze cycling, Solar-Thermal Humidity-Freeze Cycling • SunPower earned the top rating, with an average power drop of 0% across all panels1 1 Altas 25+ Durability test report. Jan 2013. Stress-tested power drops were -1.5%, +2.3%, -0.5%, relative to the non-stress-tested control panel. 2Fraunhofer PV Module Durability Initiative. Participants Report. January 2013. 3 Jordan, Dirk “SunPower Test Report,” National Renewable Energy Laboratory, Oct 2012 The National Renewable Energy Lab (NREL) has measured the SPWR module degradation in Colorado since May 2007: -0,10% / y3

7. System-Level Degradation From Field Data AC Power Degradation • The most comprehensive degradation study ever done: more than 800,000 panels from over 400 monitored inverters across 144 sites, for time spans averaging 4 years. • SunPower systems: 86MW, age 2-5.5 yrs • Non-SP systems: 42MW, age 2-11 yrs • SunPower degradation rate affirmed by Black & Veatch1, one of the most experienced Independent Engineering firms in solar power plants, with over 2,000 MW of utility scale projects AC Power Output vs. System Age SunPower Solar Fields 0% Conventional Solar Fields -1% -2% -3% SunPower -0.32%/yr(previous generation panels) SunPower Current Generation: 2x better -4% Power Output Conventional: -1.25%/yr -5% -6% -7% -8% 1 Romero, Ralph, et al. “Review of SunPower Fleet-Wide System Degradation Study using Year-over-Year Performance Index Analysis,” Black & Veatch Eng., Nov. 2012. -9% 0 1 2 3 4 5 6 7 System Age (years)

8. All Post-Commissioning Module Warranty Claims for Maxeon Gen 2 All post-commissioning returns worldwide for all panels built with Gen 2 Maxeoncells through June 2012. • SunPower has 800MW of Conventional systems from buying other companies: • PV System Installer • 240MW from 20 manufacturers • 7 year average age • 8,700 returns per million (nearly 1%) • European Manufacturer • 550MW, considered high quality (good suppliers, automated stringing, etc.) • 4 year average age • 1,800 returns per million 27 returns per million panels.

9. Durable Maxeon Cell DesignAllows SunPower to Deliver theBest Warranty in the Industry • Because of the MaxeonCell, SunPower can deliver the most reliablepanel with the best warranty in the industry … 9.1% more warrantedenergy compared with the industry standard • Lowest Guaranteed degradation rate: -0.4%/yr 100% 95% SUNPOWER SUNPOWER 90% 87% 85% INDUSTRY STANDARD STANDARD 80% 75% 0 5 10 15 20 25 5 10 15 20 25 0 YEARS YEARS

10. There are five primary factors that explain the increased energy per rated watt since the first year: Low Temperature Coefficient No Light Induced Degradation (LID) Higher Average Watts Better Low-Light and Spectral Response High performance Anti-Reflecting Technology SunPower E-Series panels deliver 7-9%1 more energy per rated watt. Maxeon Cell Design Delivers More Energy Per Rated Watt Year-One Energy Production Same Rated Watts Maintains High Power at High Temps No Light-Induced Degradation Produzione Aggiuntiva di Energia per Watt Higher Average Watts High-Performance Anti-Reflective Technology Better Low-Light and Spectral Response 1 BEW Engineering, part of DNV KEMA, SunPower Yield Report, Jan 2013.

11. SunPower Panels Stay Cooler Temp • Because of the additional efficiency, more of the sun’s energy is converted to electricity • So less energy needs to be transferred to the air as heat and the panel stays cooler: typically 2-3C (4-6F) cooler on the roof SunPower Conventional • Sun 1600W (mid-day in summer) • Sun 1600W 1600W x 20.4% =326W electricity 1600W x 15% =240W electricity 1600W - 326W 1274W Heat 1600W - 240W 1360W Heat Conventional panel must be hotter to transfer an additional 86 W of heat into the air

12. Higher Average Panel Watts Watts It takes computer-chip-making accuracy to produce high-efficiency solar cells, resulting in Panels which are all very similar in power. SunPower sells almost all its panel production under one model, so typically over-delivers by 6 watts Conventional solar cell production results in a broad distribution of panel power ratings, which are then binned into 5 watt increments If rated with positive power tolerance, and flash-tested accurately, 2.5 watts over-delivery is the middle of the 5-watt bin (not accounting for LID) Production distribution for SPR-E20-327 (January - May, 2012) • Rated Watts: 327W • (Name plate) • Average Watts: 333W

13. Maintains High Efficiency at Low Light Levels Photon measurements: June 2012 low-light energy production vs. conventional panels SunPower Panels Conventional Panels SunPower Panels Vs. Different Conventional Panels1 105% 100% 95% 90% 85% 80% 100W 1kW Cloudy Sunny Photon: “The device has a nearly straight efficiency curve with almost no change in the medium-to-high irradiance range and only a minimal drop at low irradiance levels. No other module tested thus far has such an efficiency curve.”1 1 Photon InternationalJune 2012

14. Broad Spectral Response • SunPower Cells capture more light from the blue and infra-red parts of the spectrum, enabling higher energy production in overcast (or around noon) and low-light conditions . • Red-shifted sunlight occurs every morning and evening (the sunset colors), so a SunPower system starts earlier and stays on longer. Spectrum SunPower Cell Conventional Cell 100% 80% 60% 40% 20% AM 1.5 Global Spectrum 0% 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 Wavelength, Microns

15. Photon Results (kWh/kWflashed) as of November 2012 • 3rd party test of 114 PV Manufacturers to measure the additional energy per rated Watt • SunPower E-Series ranked #1 with the most energy per rated Watt out of all of the 300+ panels • SunPower averages 8% more energy per rated Watt compared with the other top 10 panel manufacturers in the study1 Energy production per Wp (flash test data) 1,150 1100 Production (kWh / kWflashed ) 8% more Energy 1050 1000 1 Photon International (Jan. 2013), based on 2011 MW Shipments 950 SunPower Suntech First Solar Kyocera Canadian Solar Sharp Solar Yingli Trina Solar Hanwha SolarOne Jinko Solar

16. Efficiency

17. Summarizingthe SunPower Value

18. Summary of E-Series Energy Comparisons Year-One Energy Production 25-Year Energy Production Same Rated Watts1 Same Rated Watts2 16% MORE ENERGY Maintains High Power at High Temps 8% more Year 1 SUNPOWER No Light-Induced Degradation 25% more Year 25 ENERGY PRODUCTION PER WATT ENERGY PRODUCTION PER WATT Higher Average Watts Better Low-Light and Spectral Response CONVENTIONAL High-Performance Anti-Reflective Glass YEARS Same Physical Size3 54% 1 BEW Engineering, part of DNV KEMA, SunPower Yield Report, Jan 2013. 2 0.25%/yr SunPower degradation vs. 0.75%/yr Conventional. 3 327W SunPower vs. 240W Conventional. MORE ENERGY 50% more Year 1 SUNPOWER ENERGY PRODUCTION PER ROOF 66% more Year 25 CONVENTIONAL YEARS

19. SunPower® Solar PanelsReliability,Production,Efficiency February 2013