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Solarcentury: a history in pictures and charts on our 21st birthday

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The evolution of one of the world's most successful solar energy companies, from the perspective of a founder still active in the company.

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Solarcentury: a history in pictures and charts on our 21st birthday

  1. 1. Solarcentury: A history on our 21st birthday 26th May 2019
  2. 2. Preface That the company is still alive and relatively healthy after 20 years in a brutal market - one that has been consistently undermined by the rearguard sabotage of energy-incumbency actors, in which most solar companies we encountered along the way have perished - is down to the hard work, grit, and patience of literally hundreds of talented and committed people over the years. Very few of the current team or our esteemed alumni are mentioned by name in this history, but my deep and enduring gratitude as founder extends to all. Jeremy Leggett 26 May 2019
  3. 3. Editorial note This slideshow should be regarded as a work in progress. Suggestions for additions will be gratefully received for consideration, and of course any mistakes of record or memory will be corrected in a version kept updated on www.jeremyleggett.net.
  4. 4. 1996 Pre-history Global PV market: 145 megawatts
  5. 5. 7th Jan 2016 Dec 1996 The origin : the Oxford Solar Investment Summit The idea: the financial sector meets the embryonic solar industry. A little ahead of its time! ….Nonetheless, 50 execs attend. Sir Crispin Tickell Chair of meeting David Freeman ex CEO, SMUD Rolf Gerling Gerling Insurance
  6. 6. 7th Jan 2016 Dec 1996 Tessa Tennant, head of responsible investment at National Provident Institution, plays a key role Tessa, above, led the way in convening senior players from financial institutions, and will later become a director on the first for-profit board.
  7. 7. 1997 Pre-history Global PV market: 160 megawatts
  8. 8. 7th Jan 2016 Jan 1997 “The Solar Century” opens for business in the back room of a terraced house in Oxford ….a non-profit endeavouring to broker investments in solar companies by financial institutions concerned about global warming. Melissa Gough (USA) first employee (Oxford M.Sc graduate) Aki Maruyama (Japan) first volunteer (Oxford M.Sc graduate)
  9. 9. 7th Jan 2016 1997 Other directors are Rolf Gerling (Gerling Insurance), Peter Roderick (Friends of the Earth), Peter Heller (German Green politician). In the first year, the founder is too busy pursuing this hopeless idea to cut the grass Ron McCullagh, ex BBC Director on first board
  10. 10. 7th Jan 2016 Apr 1997 Stephan Schmidheiny, founder of Avina, tells JL that the non-profit model is a hopeless idea, and he should set up a for-profit company. And then ….the Avina Foundation retreat in Majorca Lloyd Timberlake Stephan Schmidheiny
  11. 11. 7th Jan 2016 Apr 1997 JL worked for Greenpeace 1989–1996. He first met Stephan, founder of the World Business Council for Sustainable Development, in 1990. Stephan: I’ll give The Solar Century a grant anyway, but try to go for-profit before it runs out! James Cameron …later a Director on the first for-profit board
  12. 12. 7th Jan 2016 Dec 2017 The search for a viable for-profit model begins. After failing to broker any investments, JL decides at the Kyoto Climate Summit that Stephan is right….
  13. 13. 1998 Seeking a commercial model Global PV market: 180 megawatts
  14. 14. 7th Jan 2016 1998 The aim being to show, in microcosm, how wind and solar can displace fossil fuel. Investment from Gerling Insurance, subject to EU co-funding. One idea: 100% renewable powering a Mediterranean island: Samos, Greece Dan Davies of Halcrow, on hire to “The Solar Century”
  15. 15. 7th Jan 2016 1998 The project is backed by all constituents, including mayors of towns, the tourist board, the Greek national utility, and and. But the EU rejects it. Samos is powered by a single 28 MW diesel power plant …with a pronounced cancer cluster downwind
  16. 16. 7th Jan 20161998 Partnered (definitely) with United Solar, our first distribution partner, and (potentially) with China Light and Power, Hong Kong’s electric utility. Another idea: a 100 MW manufacturing-integrated solar PV solar park in China
  17. 17. 7th Jan 20161998 Jeremy and Dan pitch to the entire board of the utility in Hong Kong ….and the ExxonMobil man wins the argument. CLP are keen, but there is one slight problem: ExxonMobil are an investor, and have a board seat
  18. 18. 7th Jan 2016 26th May 1998 Founding Directors: Jeremy Leggett, Mike Perry, Roger Booth (retired first head of renewables at Shell), Ron McCullagh. Solarcentury incorporates as a for-profit company & moves office to a converted church in Richmond Mike Perry, Former managing director of Wieden & Kennedy, where he ran the Nike account …principal architect of SC’s brand in the first decade
  19. 19. 1999 Seeking a model (still) Global PV market: 250 megawatts
  20. 20. 7th Jan 2016 Mar 1999 Designed and installed by Dan Davies (on the left), who joins full time (Feb) as Chief Technology Officer, and board member, 3rd employee. 1st UK solar rooftile installation (SC show house, Richmond), using United Solar PV shingles
  21. 21. x. The team of 5 moves from “The Church” to “The Shed”, also in Richmond 7th Jan 2016 Apr 1999
  22. 22. 7th Jan 2016 1999 The Solarcentury solar display van: a tour of British trade shows and country fairs begins
  23. 23. 7th Jan 2016 July 1999 This she did with some trepidation, having talked to the founder as he “demonstrated” solar with the company’s exhibit van in Battersea Park. Kirsty Stevenson (later Berry) joins the team from BP Solar, as engineer number 2
  24. 24. Trying to build a market from near-nothing: an object seen on desks of politicians, national & local 7th Jan 2016 1999
  25. 25. 7th Jan 2016 Sep 1999 On a SC night out, Claire Hawtin, employee No.2, takes pity on an old man and asks him for a dance Things seem to be going well until she tells him that her parents are his biggest fans, at which point Mick no longer wants to dance with her.
  26. 26. 7th Jan 2016 Oct 1999 The client’s fiancé says no marriage without electricity, and the utility wants to charge even more than the vast cost of solar & batteries. First Solarcentury installation: off-grid on a farm in Northumberland
  27. 27. 7th Jan 20161999 SC’s first glass-laminate installation: Orange House of the Future, Hertfordshire We discover that architects are lovely, talented people. But also that they really don’t care if we make any profit on a project.
  28. 28. 2000 UK solar market before subsidies Global PV market: 250 megawatts
  29. 29. 7th Jan 2016 Mar 2000 She is still working for SC today, fully qualified after in-job training, as a senior project accountant. Jenny Poke (later Burbridge) joins the company as a junior finance administrator
  30. 30. 7th Jan 2016 May 2000 Stephan invests in our effort to build and lead a UK solar market less than a month after the tech bubble bursts, triggering global recession. First equity investment in Solarcentury: £8 million from Stephan Schmidheiny’s Unotec
  31. 31. 7th Jan 2016 May 2000 Jeremy and Stephan agree that SC will try to be a different kind of company from Day One 5% of annual profits will be donated to a charity aiming to bring solar to the poorest of the poor in Africa.
  32. 32. 7th Jan 2016 August 2000 Having worked at senior levels in ING Barings and such places, he opts for a major vocational change ….and remains as CFO to this day. Serious money requires serious people: Neil Perry joins Solarcentury as CFO ….and cricket captain
  33. 33. A central location and two floors with a roof to put solar arrays on …a better place to try and persuade people that “solar works”. 7th Jan 2016 Sep 2000 The SC team of 17 moves to Lower Marsh in Waterloo
  34. 34. 7th Jan 2016 Oct 2000 A drip-feed of small stop-start government solar grant programmes starts, after lobbying by SC. Germany has a 100,000 roof programme. First commercial installation completed …on a petrol station at Sainsburys, Greenwich
  35. 35. Kat Johnston, multi- talented mainstay of early SC operations, and an early trustee of SolarAid Trish Littler (Australian), first office manager
  36. 36. 7th Jan 2016 Oct 2000 He is still working for SC today, having been engineering director for many years, and now asset management director. Jan Muller joins SC, our fifth engineer, fresh off a boat from the South Pacific Mount Izoard - mountain finish - Etape du Tour stage of Tour de France 2017 (no steroids)
  37. 37. 7th Jan 2016 Nov 2000 He worked in that role, jumping a lot of fences, for 17 years. Now he is a trustee on the board of SolarAid, and a director of SunnyMoney. John Faulks joins SC as legal counsel and company secretary
  38. 38. 7th Jan 2016 Dec 2000 At a company retreat in the Cotswolds, the team of 26 works on a plan
  39. 39. 2001 UK solar market with (tiny) subsidies Global PV market: 334 megawatts
  40. 40. 7th Jan 2016 2001 Our early residential roofs include “Sunslates” These were manufactured by Atlantis Solar, a Swiss company long since bankrupt, like very many of the international solar-industry pioneers.
  41. 41. 7th Jan 2016 2001 Slowly our marketing begins to find traction
  42. 42. 7th Jan 2016 Jan 2001 All but one of the engineers are male, and resent the high marketing spend. All the marketeers are female. Result: a company salsa club. After-work salsa classes instigated in a bid to defuse divisive “marketing versus engineering” tension Michelle McKenna, first marketing director
  43. 43. 7th Jan 2016 Mar 2001 BB researcher: we want to use the blue panels in your ads for our wall. JL: Great, what will you use the electricity for? Reply: What electricity? SC powers the second series of Big Brother on TV, and national media coverage results
  44. 44. 7th Jan 2016 May 2001 And so begins the long tradition of UK governments pretending to back solar seriously. It continues to this day. (Prediction: not much longer). Energy Minister Peter Hain opens roof array on our new office in Waterloo, announcing £3m for UK PV “This Government is serious about solar energy. I want to see thousands, rising to tens of thousands of roofs covered by solar panels every year over the next ten years, rivalling the large programmes in Germany and Japan.”
  45. 45. 7th Jan 2016 Oct 2001 One of the most respected solar-industry lobbyists internationally, he remains in this Solarcentury role until 2018. Seb Berry joins SC as head of external affairs - from Shell, where he worked in “issues management” Seb, without tie, leads another Solar Trade Association campaign Feb 2017
  46. 46. 7th Jan 2016 Nov 2001 SC’s first combined solar electric and solar thermal installation Maidenhead Housing Association
  47. 47. 7th Jan 2016 Dec 2001 This entails a pledge not to do business with ExxonMobil until they drop their funding of climate denial PR. Solarcentury and The Body Shop are the only two UK companies to support the “Stop Esso” campaign
  48. 48. 7th Jan 2016 Dec 2001 We are powering a lot of petrol pumps – just not Esso ones. This one is on a Texaco station (also funders of climate denial, but never mind). Solarcentury’s 50th installation completed
  49. 49. 2002 UK solar market with (slightly less tiny) subsidies Global PV market: 439 megawatts
  50. 50. 2002: The Lambeth Centre …yes, you can bend some solar
  51. 51. 7th Jan 2016 Jan 2002 Turnham Green with his green foam spray wins the individual prize and Seven Sisters walk away with the group prize - by a flying Mile End. Company strategy retreat, Somerset: high stress but ends with a party themed “London Tube Stations”
  52. 52. x. The team tries to hold its collective nerve over the substantial losses we are clocking up 7th Jan 2016 Jun 2002
  53. 53. Solarcentury’s first business plan was drafted by the founder in turrets here. It probably holds the Overpromise Underdeliver world record. Company retreat, Tessa Tennant’s castle Glen House in Scotland. 7th Jan 2016 Jun 2002
  54. 54. x. Hospitality from Tessa’s Scotland, music from Sierra Leone, team rather happy to have both 7th Jan 2016 Jun 2002
  55. 55. 7th Jan 2016 Nov 2002 Our main competitor at the time in the UK is BP Solar, who we beat to this project. Shell Solar and Siemens Solar have already quit the UK. SC wins a contract to install the world’s biggest solar façade, on the CIS HQ in Manchester A BP “Beyond Petroleum” advert of the day (…laughter at this point excused)
  56. 56. 7th Jan 2016 Dec 2002 SC wins the world’s largest contract to build solar bus shelters, with JC Decaux in Plymouth
  57. 57. 2003 UK solar market with government subsidizing larger “demonstration” projects Global PV market: 694 megawatts
  58. 58. 2003: Alexander Stadium, Birmingham
  59. 59. 7th Jan 2016 Jul 2003 In which role he remains to this day, having cycled and run a lot of races, inside and outside the office - rather impressively fast - these 15 years. Simon Godfrey joins SC as head of IT operations ….and fastest member of the cycling team
  60. 60. 7th Jan 2016 Aug 2003 Most startup companies fail in the “Valley of Death” before profitability, and we are spending much longer in it than planned. First breakeven month in the company’s history
  61. 61. 2004 UK solar market ….with Solarcentury’s first products Global PV market: 1 gigawatt
  62. 62. 2004: Vauxhall Cross
  63. 63. And our Streetsmart bus shelter wins Best New Electrical and Lighting Product. It is unheard of for a startup to win two of these “Oscars”. 7th Jan 2016 Apr 2004 At Interbuild, the building-industry trade show, SC’s C-21e solar rooftile wins Best New Exterior Product. First installation, June
  64. 64. Oli Sylvester-Bradley joins SC as a marketing manager keen to polish green brands 7th Jan 2016 Apr 2004 After 6 years he will leave to become an independent marketing consultant – including to SolarAid, where he will work 2016 to 2018.
  65. 65. 7th Jan 2016 May 2004 She goes on to lead Innovation, Ops & Project teams before moving to Cornwall in 2015 (incl. product management consultancy for SolarAid) Sophie Evans joins SC from Deloitte and before that aeronautics Off to a State dinner
  66. 66. 7th Jan 2016 Sep 2004 Many in the company are aghast at Blair’s support for George W. Bush’s ongoing war in Iraq. We elect to say nothing, in the interests of solar. Prime Minister Tony Blair visits SC for two hours, amid a blitz of TV publicity
  67. 67. Great PR for a government much in need of it ….shame about the reality for the solar industry 7th Jan 2016 Sep 2004 Truth is: the government is drip feeding the embryonic industry a series of small grants, while the German feed-in tariff is building an industry. Tony Blair speaking to the assembled national media pool in the SC office: “We could achieve a virtually zero-carbon energy system in the long term. This is technologically and economically feasible.”
  68. 68. Blair conducts a televised round table discussion on green issues with SC staff 7th Jan 2016 Sep 2004 Andy Bodycombe, co-head of project management, ex BP Solar
  69. 69. 2004 It may not be a good idea to be visited by a head of state …all the other three companies went under
  70. 70. x. x 7th Jan 2016 x
  71. 71. 2005 Zeroing in on breakeven Global PV market: 1.3 gigawatts
  72. 72. 2005: Eden Centre, Cornwall
  73. 73. UK utility SSE, one of the “Big 6”, invests £1 million in Solarcentury’s second round capital raise 7th Jan 2016 Jan 2005 SSE CEO Ian Marchant will become one of SolarAid’s most generous individual donors.
  74. 74. SC is big enough now to field a couple of (mixed gender) football teams 7th Jan 2016 May 2005
  75. 75. Company retreat in Lewes, & party featuring Snow White & the Seven Dwarves (project managers) 7th Jan 2016 Mar 2005
  76. 76. Company retreat in Lewes: Tessa Tennant attends as VIP guest and fancy-dress judge 7th Jan 2016 Mar 2005
  77. 77. We take the painful decision to close our off-grid unit, just as it is beginning to do well 7th Jan 2016 Sep 2005 The aim is to focus going forward on trying to make our own solar roofing products a success.
  78. 78. Solarcenturians marriage number 1: Jeremy Leggett and Aki Maruyama 7th Jan 2016 Oct 2005
  79. 79. 2006 Finally we break even Global PV market: 1.5 gigawatt
  80. 80. 2006: CIS tower solar façade
  81. 81. UK’s first solar street: S Yorkshire HA
  82. 82. 1949 1952 1955 1958 1961 1964 1967 1970 1973 1976 1979 1982 1985 1988 1991 1994 1997 2000 2003 2006 2009 2012 250 200 150 100 50 0 Pricein$/m(mbtu) 4th April 2014 Fossil fuel indices Solar PV Solar takes off globally from 2006: welcome to “the Terrordome” 7th Jan 2016 2006 to 2014 Source:AllianceBernstein
  83. 83. -5 0 5 10 15 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 Round 2 £1m SSE First of two phases of investment and ascent to profitability: through the recession following the bursting of the dot-com bubble…. CEO: Jeremy Leggett Round 1 £8m GrupoEcos £m 1st commercial installation 50th installation 1st £500k project 1st own-product trial: C21e 1st new product award 1st own-product production Revenue EBITDA Loss 2000 to 2006 Solarcentury completes its first ascent to profit Phase 1 of 4: From the “Valley of Death” to first products
  84. 84. Solarcentury innovation: while manufacturers innovate at the cell level…..
  85. 85. ….we innovate at the balance of systems level, in multiple ways
  86. 86. C21t Solar thermal tile SingleBeam SB1000 modular energy roof Adaptors for compatibility in Spain, France, Italy C21e Solar PV tile Our products now include a solar thermal tile, C21t 7th Jan 2016 2006
  87. 87. By mixing C21e and C21t (the pale tiles) we can provide solar electricity and hot water 7th Jan 2016 2006 South Yorkshire Housing Association
  88. 88. UK’s first solar street: S Yorkshire HA
  89. 89. David Cameron, leader of the Opposition and future PM, visits the company 7th Jan 2016 Mar 2006 He criticises the Labour government’s failure to seize the solar opportunity, and promises this will change under the Conservatives.
  90. 90. Suzanna Lashford joins SC in a sales support role 7th Jan 2016 Mar 2006 Having solarised many roofs, bridges and car factories over the years, she was appointed Head of UK Sales in 2016, before moving on in 2018. Suzanna with her long term boyfriend, Ben Kimber, currently Solarcentury’s operations director for Europe, the Middle East and Africa
  91. 91. Solarcentury wins two more Interbuild new product Oscars, one for the C21 e and t combination 7th Jan 2016 Apr 2006
  92. 92. Paul Sutton (on the right) joins SC as a junior project manager 7th Jan 2016 Apr 2006 And is still with us, as Contracts Manager Africa. (The two other Solarcenturians are Nathan and Sadie, Paul’s girlfriend).
  93. 93. Round 3 financing closes, led by Silicon Valley’s Vantage Point Capital Partners 7th Jan 2016 May 2006 VPCP bring long experience of the exponential growth we now seek, by strengthening the leadership team and going international. Pat Splinter COO & MD Current SC board representative
  94. 94. John Keane starts volunteering for SolarAid, in its setup stage, before joining full time as 2nd employee 7th Jan 2016 May 2006 He led programme design and implementation then ….and he is still with us now, leading SolarAid and SunnyMoney as CEO.
  95. 95. SolarAid launched at Labour Party Conference 7th Jan 2016 Sep 2006 Gordon Brown gives a speech to the press and delegates about the importance of solar in development and is then shown SC’s C-21 tile.
  96. 96. Cate Blanchett agrees to be SolarAid’s first Patron 7th Jan 2016 Oct 2006 For the next three years she leads appeals, hosts dinners, and appears for us on media including BBC Today Programme. “Imagine, night in Africa…” SolarAid appeal video
  97. 97. David Edwards joins Solarcentury from PwC’s strategy and transaction team 7th Jan 2016 Oct 2006 He is still here today, having been head of product development and finance offers, now director of global strategy and resources.
  98. 98. Derry Newman joins SC as Chief Operating Officer, leaving Sony where he was Managing Director UK 7th Jan 2016 Nov 2006 Derry and Jeremy have a transition to CEO in mind next year, whereafter D leads the growth phase and internationalisation of the company. Derry in Sony’s Berlin HQ, leading a pan-European team of 2,500 ….with not a grey hair in sight (that won’t last)
  99. 99. Derry arranges for C21 to be assembled in Wales at a former Sony TV factory 7th Jan 2016 2006 Later he will arrange assembly of the tiles in China, where the frames and PV laminates are manufactured.
  100. 100. Awards won by Solarcentury this year include the Sunday Times Tech Track 100 R&D Award 7th Jan 2016 2006 Also Innovator of the Year at the British Renewable Energy Industry Awards, and the Eurosolar Prize for Commercial & Industrial companies.
  101. 101. x. x 7th Jan 2016 x
  102. 102. 2007 Beginning to get serious with solar tiles Global PV market: 2.5 gigawatt
  103. 103. Anita Roddick visits SC and gives an unforgettable talk on vision in business 7th Jan 2016 Feb 2007 Other external speakers include Charles Dunstone (Carphone Warehouse), Will Whitehorn (Virgin), Dave Rice (BP’s head of strategy).
  104. 104. Sarah Howarth joins SC, straight from university, with a love for writing and design 7th Jan 2016 Apr 2007 She is still with us today. She taught herself graphics in-job and now holds what she considers her perfect role: heading the creative team.
  105. 105. Launch of our Solar for Schools programme, a joint project with the Co-operative Bank, SSE, & others 7th Jan 2016 May 2007 We will go on to solarize hundreds of schools in the UK, and provide teaching materials for schools to build lessons around installations.
  106. 106. Susannah Wood joins SC as Sales Director – another defector from a major corporation 7th Jan 2016 May 2007 Susannah was with Ernst & Young, where she led both sales and marketing. She is still with us today, as marketing director.
  107. 107. Solarcentury wins an Ashden Award for Green Business 7th Jan 2016 Jun 2007
  108. 108. National press coverage of the biggest C21 installation yet: The Bootstrap Company, Dalston 7th Jan 2016 Jul 2007 x.
  109. 109. C21 solar tile sales begin in France 7th Jan 2016 Jul 2007 We set up a French office in La Rochelle.
  110. 110. Fourth and final financing round, £13.5 million, led by Zouk Ventures …just before credit markets freeze 7th Jan 2016 Aug 2007 Total raised over the four rounds: £28 million
  111. 111. Ryan Taylor joins SC from New Zealand as customer service operator 7th Jan 2016 Sep 2007 Today he is still with the company as UK O&M Service Manager.
  112. 112. Jeremy Leggett steps down as CEO after nearly a decade, & Derry Newman takes over 7th Jan 2016 Dec 2007
  113. 113. 2008 Going international with intent …in the year of the financial crash Global PV market: 6.6 gigawatts
  114. 114. 2008: Crown Place, Bishopsgate, London
  115. 115. Helen Barlow joins SC as HR assistant, another defector from Sony 7th Jan 2016 Mar 2008 She will serve as head of HR (and chief party organizer) until 2018.
  116. 116. Jon Sturgeon joins SC from Jaguar Land Rover, where he was a design engineer in the safety team 7th Jan 2016 Mar 2008 He is still with us today. Having been head of product development & ops director for resi, he now leads on delivery in our IKEA partnership. Jon in China, with Dan
  117. 117. SC Spanish and Italian teams on a retreat 7th Jan 2016 2008
  118. 118. The team from our Madrid office 7th Jan 2016 2008
  119. 119. SC enjoys a thriving market in France in building-integrated solar barns 7th Jan 2016 2008
  120. 120. 2nd Mar 2016 2nd Mar 2016 xSolarcentury and Tesla co-market the Roadster and solar rooftiles with which to charge it 2008 EcoBuild stand
  121. 121. JL takes the Tesla roadster on its first ever UK road trip, London to Oxford, covered by the Daily Mail. 7th Jan 2016 May 2008 “Filling up” at a BP station
  122. 122. Shahid Rashid joins SC as purchasing manager, in which role he remains today 7th Jan 2016 May 2008 “Filling up” at a BP station …so no messing with our orders then
  123. 123. SC celebrates its 100th solar school 7th Jan 2016 Jul 2008
  124. 124. Italian solar schools programme launches in Milan 7th Jan 2016 Nov 2008
  125. 125. Solarcenturians marriage number 2: Dominic Burbridge and Jenny Poke 7th Jan 2016 Oct 2008
  126. 126. Solarcentury wins a place in the top 100 Best Small Companies to Work For 7th Jan 2016 2008 We come second overall in the Putting Something Back category, and achieve coveted two-star status.
  127. 127. • “…A recognised pioneer and standard setter in photovoltaics. Strong sensitivity to the contexts in which it operates – both global environmental and end-user applications” – Total coherence in look and feel – A clear personality – human, accessible and futuristic – Serious and significant, but with a light touch – A well-told story with clear end-user explanations and benefits” From Clean Technology:Tomorrow’s Brands: 2nd Mar 2016 2nd Mar 2016 xThe Solarcentury brand: accolades within the marketing industry 2008
  128. 128. 2009 Going international ….in the year after the financial crash Global PV market: 7.3 gigawatts
  129. 129. C21e installation, France 7th Jan 2016 2009
  130. 130. Gazeley Zaragoza, Spain …our commercial installations are getting bigger 7th Jan 2016 Feb 2009
  131. 131. Gazeley Zaragoza, Spain …our commercial installations are getting bigger 7th Jan 2016 Apr 2009 SC wins a contract with Network Rail to put solar on UK railway stations 7th Jan 2016 Aug 2009
  132. 132. Andreas Eggenberg joins the board representing Stephan Schmidheiny’s shareholding 7th Jan 2016 May 2009 Still on the board today, he is the longest-serving non-executive director the company has had.
  133. 133. Solarcenturian marriage number 3: Martyn Berry and Kirsty Stevenson 7th Jan 2016 Oct 2009
  134. 134. In France, we now have >300 installers, and in Italy giant utility Enel is distributing our products 7th Jan 2016 2009 Year-on year we have now virtually doubled channel sales …in the teeth of a global recession.
  135. 135. Confidential 2nd Mar 2016 2nd Mar 2016 xSulfercell factory roof, Berlin, installed in just 10 weeks, through atrocious weather Dec 2009
  136. 136. Confidential 5,220 modules 35km of cable
  137. 137. Confidential 2nd Mar 2016 2nd Mar 2016 xKahya Engler (German) project managed this feat of engineering for Solarcentury Dec 2009 Kahya worked as a PM, UK-based, from 2005 to 2010. Today she is Residential Business Operations Director, based in our Dutch office. Other women engineers at Solarcentury can be seen in a YouTube film made by the company to help celebrate National Women in Engineering Day. Another film shows women in sales, finance, legal and other roles.
  138. 138. 7th Jan 2016 6th Feb 2018 “Back in 2008, we were barely writing about PV ...and storage was nowhere to be found” Written by Solarcentury staff in 2008 ….and published in 2009. …Some were talking about PV and storage back then. “Vision 4: Solar photovoltaics at grid parity everywhere, years earlier than most expected” “Vision 5: Energy storage plants throughout the smart grid …many of them also vehicles”
  139. 139. 2010 Finally a UK feed-in tariff Global PV market: 17.1 gigawatts
  140. 140. Slough, UK Solar thermal for hot water Excess solar for EV charging >100% of electricity from C21e SSE staff housing, Slough 2010
  141. 141. UK government finally announces a feed-in tariff for solar 7th Jan 2016 Jan 2010 Germany has had one since 1994. Solarcentury housing association installation
  142. 142. UK feed-in tariff starts: with demand up, & foreign competition, headhunters are targeting our staff 7th Jan 2016 Apr 2010 Here the company’s social purpose really helps: HR statistics show that our staff stay for longer than is normal in the industry. Solarcentury commercial roof installation
  143. 143. Ecobuild Mar 09 The Solarcentury hub at the Ecobuild show: huge interest in solar and the FiT
  144. 144. Conservative - LibDem coalition takes over from Labour as UK government 7th Jan 2016 May 2010 At first we are optimistic. Here, in Opposition, new Energy Minister Greg Barker is happy to sign our petition-on-a-solar-tile.
  145. 145. SC is the fastest growing energy company in the UK – the only one in the Tech Track 100 7th Jan 2016 May 2010
  146. 146. The Solarcentury SolarRollers, about to do a stage of the Tour de Britain fundraising for SolarAid 7th Jan 2016 Sep 2010
  147. 147. SC completes its first solar farm: 1 MW in Specchia, Italy 7th Jan 2016 Oct 2010
  148. 148. Cameron & Osborne tell 18 founders of fast-growth SMEs, incl. SC, that we are the flip-side of austerity 7th Jan 2016 Nov 2010 This at a breakfast at Number Ten. JL observes that, on solar, there seems to be a slight disconnect between this thinking and policymaking.
  149. 149. 2011 The year of the big feed-in tariff cut Global PV market: 30.1 gigawatts
  150. 150. SC wins a Queen’s Award for Enterprise in Innovation 7th Jan 2016 Apr 2011 “In recognition for business performance, corporate social responsibility and excellence in innovation for the C21e solar electric roof tile & slate.”
  151. 151. UK government announces deep cuts in solar feed- in tariffs from August 7th Jan 2016 Jun 2011 The tariff cut is aimed at killing the solar-farm market. It sparks a rush to complete big ground mount systems within weeks. July 2011: Solarcentury runners do 10 k fundraising for SolarAid
  152. 152. CEO Derry cycles for SolarAid
  153. 153. Source: BSW-Solar 7th Jan 2016 11th Oct 2011 Cleantech has not rolled out for global investors the way the digital and internet revolutions did the tariff cut is aimed at killing the market. Solarcentury, UK’s fastest growing renewables company in recent years, is nonetheless a poster child in the FT for wider failures in energy tech.
  154. 154. HMG ambush cuts the feed-in tariff for domestic roofs: 6 weeks notice. Anguish in the industry. 7th Jan 2016 Oct 2011 This cut is aimed at maiming or killing the UK solar industry, JL is told from high levels inside government: offshore wind wins, we lose. Solarcentury staff organize and lead a demonstration opposite the House of Commons
  155. 155. Ed Miliband, Labour leader, seizes the PR opportunity, speaking to Solarcentury staff 7th Jan 2016 Oct 2011
  156. 156. SC races to install as many solar homes as possible before the FiT cut hits in mid December 7th Jan 2016 Nov 2011
  157. 157. SSE transfers its SC shares to Scottish Equity Partners and SEP’s Gary Le Sueur joins the SC board 7th Jan 2016 Nov 2011
  158. 158. Labour front benchers, Green MP Caroline Lucas, and solar leaders make a delivery to No.10. 7th Jan 2016 Dec 2011
  159. 159. 7th Jan 2016 Dec 2011 to Mar 2012 Solarcentury takes the UK government to the High Court over legality of feed-in tariff cuts. And wins. Homesun, and FoE Our case is joint with another solar company, Homesun, and Friends of the Earth. But we cannot stop thousands of job losses.
  160. 160. 2012 From the roofs to the ground Global PV market: 30 gigawatts
  161. 161. SC’s first UK solar park and the UK’s first solar powered business park 7th Jan 2016 Feb 2012 748 kW at Howbery in Oxfordshire. The residential market has been set back, but solar parks can still be built.
  162. 162. SC connects 5 MW Wilburton Solar Park, Cambridge 7th Jan 2016 Mar 2012
  163. 163. First brown field solar park in the UK 7th Jan 2016 Mar 2012 1.4 MW on an abandoned mine at Wheal Jane, Cornwall
  164. 164. -25 -20 -15 -10 -5 0 5 10 15 20 25 30 35 40 45 50 55 60 65 2006 2007 2008 2009 2010 2011 £m Round 3 £5.5 m VPCP Round 4 £13.5 m Zouk + SEP replace SSE Avge 40% growth for 13 years Through the recession following the credit crunch of 2007 and financial crisis of 2008 CEO: Derry Newman (2007 - 2012) France, Spain SolarAid set up Italy, 2nd product (slate) 1st universal slate 1st 5MW solar farm 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 1st solar farm, Chinese tile production Own products for commercial & industrial roofs UK FiT SC vs HMG in High Court Enel installers use our roofing products 2006 to 2006 Phase 2 of 4: Steady growth, in recession Mar 2012 Our second cycle of investment and ascent to profitability, led by Derry in the teeth of recession
  165. 165. Source: Bloomberg New Energy Finance 2003 to 2012 After the financial crisis: carnage in the global solar industry NEX is an index of publicly quoted solar companies Derry Newman’s time at Solarcentury
  166. 166. Source: Photon magazine 2011 to 2016 Solar: a particularly difficult industry to stay alive in
  167. 167. 7th Jan 2016 8th May 2012 Frans van den Heuvel takes over as Solarcentury CEO Frans, from the Netherlands, has had a glittering career to date, including the leadership of fast growth at Scheuten Solar.
  168. 168. 7th Jan 2016 2012 to 2017 Derry Newman, 2nd SC CEO, helps SolarAid out (not to mention its chair, 1st CEO) as a director
  169. 169. The UK’s first waste treatment facility to be powered by solar energy: 5MW, Chittering 7th Jan 2016 Oct 2012 The price of solar has fallen so much that solar parks can now be built under the Renewables Obligation scheme, originally designed for wind.
  170. 170. x. x 7th Jan 2016 x
  171. 171. 2013 Lots of UK solar farms Global PV market: 38.3 gigawatts
  172. 172. Confidential Southwick Solar Farm 48 MWp 2nd Mar 2016 2nd Mar 2016 xForced by dysfunctional policymaking to operate in the worst conditions of the year 2014 and 2015 Chediston Solar Park 2nd Mar 2016 2nd Mar 2016 xForced by dysfunctional policymaking to operate in the worst conditions of the year, each year 2013 to 2015 The feed-in tariff (2012) and ROC subsidies (2013 on) step down each year at the end of the FY in March …meaning installation in winter. A good day at Chediston
  173. 173. 2nd Mar 2016 2nd Mar 2016 xRain or snow turn bad days into scenes resembling WW1 winter battlefields. 2013 to 2015
  174. 174. 2014 Lots more solar farms, again Global PV market: 40.1 gigawatts
  175. 175. Confidential Southwick Solar Farm 48 MWp Eynsham, Oxfordshire 2nd Mar 2016 2nd Mar 2016 xRacing to install Eynsham solar farm in a time of biblical flooding Q1 2014
  176. 176. Eynsham 2nd Mar 2016 2nd Mar 2016 xThis is what it will look like later in the year. It is in David Cameron’s constituency. 2014
  177. 177. Confidential
  178. 178. Confidential 2nd Mar 2016 2nd Mar 2016 xSolarcentury’s first African solar farm: 1 MW for Williamson Tea, Changoi, Kenya 14th Jan 2014
  179. 179. Confidential 2nd Mar 2016 2nd Mar 2016 xBlackfriars Bridge opens: 1.1 MW, installed by our engineers over a working railway station and river 28th Jan 2014
  180. 180. Blackfriars Bridge: largest solar bridge in the world Tate Modern: solar on an iconic city landmark ….and an old fossil-fuel power plant
  181. 181. Confidential Southwick Solar Farm 48 MWp 2nd Mar 2016 2nd Mar 2016 xMarking a Solarcentury annual donation to SolarAid 28th Jan 2014 Eynsham, Oxfordshire
  182. 182. 2nd Mar 2016 2nd Mar 2016 xSolarcentury completes 5 MW above a working factory: Bentley plant, UK Mar 2014
  183. 183. 2nd Mar 2016 2nd Mar 2016 xKernow, a 5 MW solar park near Newquay airport May 2014
  184. 184. 2nd Mar 2016 2nd Mar 2016 x Hardingham, 15 MW Jun 2014
  185. 185. Solarcenturian marriage number 4: Guy Atherton (Australian) and Sabine Mussbach (German) 7th Jan 2016 Jun 2014
  186. 186. Cricket: The Rest of The World captain (Australian) bowls to the England captain, a stylish batsman. 7th Jan 2016 Aug 2014
  187. 187. An England tail ender hits the ball out of the ground ….never to be seen again 7th Jan 2016 Aug 2014
  188. 188. But ultimately the English lose, as usual 7th Jan 2016 Aug 2014
  189. 189. Solarcenturian marriage number 5: Angus Campbell and Charmaine Coutinho 7th Jan 2016 Sep 2014
  190. 190. 2015 Exponential growth Global PV market: 50.9 gigawatts
  191. 191. Solar roof on a Sainsbury store
  192. 192. -th --- 2016 Solarcentury growth2nd Mar 2016 2nd Mar 2016 xLittle Morton, 28 MW May 2015
  193. 193. -th --- 2016 Solarcentury growth2nd Mar 2016 2nd Mar 2016 xSC’s record build time for a solar park: 6 weeks, Wellbeck, 16 MW May 2015
  194. 194. Development starts Bentley roof -75 -50 -25 0 25 50 75 100 125 150 175 200 225 250 275 300 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 Budget Green numbers: net cash in £m 24 33 323430 Growth from £100m to 200m, then international acceleration after UK subsidy ambush in 2015 CEO: Frans van den Heuvel (2012-) £m 1st African projects, Blackfriars Bridge 48MW UK farm, Sainsburys Sunstation launch 1st storage project in Africa, IKEA launch First auction: Mexico 200MW Pre audit ? ? Phase 3 of 4: Exponential UK growth …5th fastest growing profits of all UK companies 2013 - 2015 2012 to 2015 Derry Newman Frans van den Heuvel The 3 Solarcentury CEOs celebrate
  195. 195. 3 1975 2015200519951985 50 40 20 30 10 80 60 70 90 100 $USD/W 30 10 20 50 40 60SC installed capacity doubles >8 times 2000 - 2016 to 738 MW 2018 Solarcentury 1998 Incorporated 26 May 1998 Global market doubles 8 times 2000 - 2016 Globalmarket180MW Globalmarketc.100GW Phase 1 42 Our installations have grown at much the same pace as the global market 7th Jan 2016 1998 to 2015
  196. 196. -th --- 2016 Solarcentury growth2nd Mar 2016 2nd Mar 2016 xSC staff march with Greenpeace on the London Climate March before the Paris Climate Summit Nov 2015
  197. 197. -th --- 2016 Solarcentury growth2nd Mar 2016 2nd Mar 2016 xJL attends the Paris Climate Summit, grandstanding as usual while others do the heavy lifting Dec 2015
  198. 198. -th --- 2016 Solarcentury growth2nd Mar 2016 2nd Mar 2016 xMeanwhile, back on the farm, heavy lifting literally: once more into the mud, dear friends Dec 2015
  199. 199. -th --- 2016 Solarcentury growth2nd Mar 2016 2nd Mar 2016 xHoback, 17.5 MW Dec 2015
  200. 200. -th --- 2016 Solarcentury growth2nd Mar 2016 2nd Mar 2016 xUK government cuts domestic, commercial and solar-farm feed-in tariffs by 65%, 85% and 71% 16th Dec 2015 DECC accepts, in an impact assessment, that this means >18,000 job losses in the solar industry. To save a few pence on electricity bills. Energy Secretary Amber Rudd, who just four days before this was in Paris, adopting a climate treaty pledging every nation on Earth to deep cuts in carbon emissions.
  201. 201. The first two African solar lighting markets catalysed 1.8 million sold ….198.2 million to go "Few, if any, other businesses have launched a sustainable brand and enabled thousands of people to live more sustainably in such a short space of time” $25 1st light sold $10 Tanzania Kenya Zambia Malawi Uganda -th --- 2016 Solarcentury growth2nd Mar 2016 2nd Mar 2016 xSolarAid’s SunnyMoney: Finding an updraft to become Africa’s largest solar lighting retailer 2012 to 2015
  202. 202. -th --- 2016 Solarcentury growth2nd Mar 2016 2nd Mar 2016 xQuantifying the impact of SolarAid’s SunnyMoney’s 1.9 million solar light sales 2012 to 2016 Reaching > 10 million people £283.4 million saved by rural families 1.9 billion extra study hours for children 2 million tonnes of CO₂ emissions averted Safer homes with reduced risk of fire and burns 4 million experiencing better health
  203. 203. 2016 The transition begins Global PV market: 72 gigawatts
  204. 204. Phase 4 of 4: International project development at scale …by May 2019 the pipeline will be >5 GW 2016 to present Solarcentury has been planning its international expansion for some time. It has the cash to do this. Other UK companies are not so lucky.
  205. 205. 2nd Mar 2016 2nd Mar 2016 xSolarcentury connects its first Latin American solar park to the grid in Panama Feb 2016
  206. 206. Confidential 2nd Mar 2016 2nd Mar 2016 xSC completes the largest solar farm in the UK in three months: Southwick, 48 MW Feb 2016
  207. 207. 2nd Mar 2016 2nd Mar 2016 xIkea unveils ambition to be the number-one global residential solar retailer 31st Mar 2016 IKEA is a lead actor in the RE 100 group of companies pledging to 100% renewable power in their own operations
  208. 208. IKEA appoints Solarcentury to deliver solar roofs from its stores in the UK 26th April 2016
  209. 209. The innovation team7th Jan 2016 2012 to 2016 Solarcentury’s innovation team say they can design a BIPV rooftile at same price as bolt-on modules
  210. 210. 7th Jan 2016 11th May 2016 Solarcentury releases new BIPV roofing product cost competitive with bolt-on PV modules
  211. 211. 2nd Mar 2016 2nd Mar 2016 xSC’s first solar park in the Netherlands: Ameland Apr 2016
  212. 212. 7th Jan 2016 Apr 2016 One of the many running club outings, Hyde Park, London
  213. 213. 2nd Mar 2016 2nd Mar 2016 xSolarcentury wins largest Kenyan solar project >1 MW ….with storage (and without subsidy) 15th Apr 2016 Existing project: tea plantation, Changoi
  214. 214. 7th Jan 2016 May 2016 Solarcentury ranked as Number 1 EPC in UK solar market
  215. 215. • Consumer insights shaped product design based on more than 30,000 research interactions • 2 years in design and prototype, from >300 original design drawings • Rigorous prototype testing with Fraunhofer Institute SM100 - Research-th --- 2016 Solarcentury growth2nd Mar 2016 2nd Mar 2016 xSolarAid decides we need our own (lowest cost) product …and Yingli partners with us to do it 2015 to 2016
  216. 216. 7th Jan 2016 August 2016 Launch of SolarAid’s own product, co-developed with Yingli Namene Solar (now Namene Solar Lighting company) o 18 lumen o 5hrs+ run time o Water-resistant o Reliable o Durable SM100: One of the most affordable entry-level quality solar lights
  217. 217. 7th Jan 2016 2016 to present Can we make SM100 a commercial success …in new African countries? Globally? …the story is still being written
  218. 218. x. x 7th Jan 2016 x7th Jan 2016 Aug 2016 The Solarcentury runners-for-SolarAid team enters the Tough Mudder half marathon
  219. 219. x. x 7th Jan 2016 x
  220. 220. x. x 7th Jan 2016 x Aug 2016
  221. 221. Sep 2016
  222. 222. x. x 7th Jan 2016 x7th Jan 2016 Nov 2016 The three judges of Solarcentury’s “Drag Race” competition to raise money for SolarAid In the interests of propriety, no photos of the contestants can be shown in this slide show.
  223. 223. 2017 The transition continues Global PV market: 98 gigawatts
  224. 224. x 7th Jan 2016 x Derrick Allan becomes Independent Chairman of Solarcentury 7th Jan 2016 Jan 2017 He brings 30 years of experience in the utility industry, the last 15 of which were in corporate development roles leading acquisitions and joint ventures. All this and his project experience add substantial value to the strategic development and governance of the company.
  225. 225. x. x 7th Jan 2016 x The Solarcentury flower arranging team (also the Legal Department) 7th Jan 2016 Mar 2017
  226. 226. 7th Jan 2016 2nd June 2017 Solarcentury delivers its first project in Chile: 40 MW at Dona Carmen
  227. 227. 7th Jan 2016 13th June 2017 Solarcentury: fastest growing UK renewable energy company ranked by international sales, 22nd overall
  228. 228. Solarcentury’s Solar Rollers ride for SolarAid at the Dragon Ride 7th Jan 2016 Jun 2017
  229. 229. x. Solarcenturian wedding number 6: Mark Evans and Danielle Ayris 7th Jan 2016 Jun 2017 And not an EV in sight!
  230. 230. Some of the Solarcentury guests at wedding number six 7th Jan 2016 Jun 2017
  231. 231. 7th Jan 2016 17th Jul 2017 Solarcentury to build EU, UNDP-backed solar-and-storage mini-grids in Eritrea Solar contribution Levelised cost of energy(LCOE) Generator only 0% 45 US c/kWh PV + Generator 38% 40 US c/kWh PV + Generator + Battery 72% 26 US c/kWh
  232. 232. June 2018
  233. 233. 7th Jan 2016 Jul 2017 SolarAid’s retail brand SunnyMoney wins BITC – Unilever Global Development Award
  234. 234. 7th Jan 2016 1st Aug 2017 Centrica’s British Gas hikes electricity prices by 12.5% - 4x inflation - blaming cost of wind & solar+ Since 2006: average UK pay up 19%, gas bills up 73% electricity bills up 72%
  235. 235. 7th Jan 2016 2nd Aug 2017 IKEA teams up with Solarcentury for solar battery storage saving up to 70% on UK electricity bills Storage offering starts at £3,000 incl VAT, + solar = c. 6% rate of return, 12 year payback
  236. 236. 7th Jan 2016 23rd Aug 2017 Solarcentury financing deal with CrossBoundary Energy targets Kenyan C&I solar roofs No upfront payment, 10-20% discount on normal electricity bills, customer owns roof after 15 years
  237. 237. Sep 2017
  238. 238. 7th Jan 2016 2nd Nov 2017 Solarcentury and Encavis partner on 1.1GW of projects in 5 nations, requiring £0.8 - £1 bn Encavis, called Capital Stage at the time this long-term strategic partnership is struck, are Germany’s biggest developer of solar parks.
  239. 239. x? SC CEO Frans van den Heuvel wins Solar Power Portal Lifetime Achievement Award 7th Jan 2016 11th Oct 2017
  240. 240. Solarcentury is now partnered with iconic brand Ikea on residential solar in the three countries. IKEA’s SOLSTRÅLE solar launches in Belgium 7th Jan 2016 13th Oct 2017
  241. 241. Solarcentury has a 300 MWp solar farm in late stage development in Spain 7th Jan 2016 12th Dec 2017
  242. 242. x. Book club Christmas party …dressed as characters in the books read during the year 7th Jan 2016 Dec 2017
  243. 243. x. x 7th Jan 2016 x
  244. 244. 2018 We begin to deliver what is now a big non-UK project pipeline Global PV market: 104 gigawatts
  245. 245. SC wins auction to supply Mayor of London’s solar group purchase scheme 7th Jan 2016 10th May 2018
  246. 246. Solarcentury is the behind-brand delivery partner. Meanwhile, EVs are reaching a tipping point in the UK. Large-scale V2G not far off? “Nissan's Following Tesla Into Solar Power and Home Batteries” 7th Jan 2016 16th May 2018
  247. 247. The 44MW Nyrstar solar farm, due to connect to the grid by year end, is the first in the partnership deal with Encavis. SC retains 20% equity. 7th Jan 2016 7th Jun 2018 Solarcentury begins construction of the largest solar farm in the Netherlands, on a sink landfill site
  248. 248. Construction is already underway. The Dutch government’s new solar programme is rolling out fast now, with dozens of projects in view. 7th Jan 2016 26th Jun 2018 Solarcentury and PowerField join forces to develop 110MW Vlagtwedde solar farm
  249. 249. The pledge, organised by The Future of Life Institute, has to date been signed by 244 potential practitioner organisations including Google. 7th Jan 2016 19th Jul 2018 Solarcentury: first EU solar company to sign pledge not to engage in development of killer robots April 2018: Governments & NGOS meet in Geneva to consider a global ban on killer robots, with an arms race underway. They are unsuccessful.
  250. 250. 20 years old, we began in the UK only in a 180 MW p.a. global market, and are now operating internationally in a 100 GW p.a. market. Solarcentury: a team of 180 from 14 nations on 4 continents 7th Jan 2016 Aug 2018
  251. 251. Tom Cruise runs over Blackfriars Bridge in a scene from the latest Mission Impossible film Solarcentury makes it to Holywood 7th Jan 2016 Aug 2018
  252. 252. We partnered with investor JinkoSolar as developer on a number of projects acquired in the energy auction in Mexico’s new energy market. Viborillas, Mexico: Solarcentury-developed 127 MW solar farm commissioned 7th Jan 2016 Sep 2018
  253. 253. The company becomes first European solar company to support the recommendations of the Financial Stability Board’s Taskforce on Climate-related Financial Disclosure. Solarcentury expands social purpose engagement further, to address the renewables investment gap 7th Jan 2016 Sep 2018
  254. 254. 7th Jan 2016 9th Oct 2018 Solarcentury sells 80% stake in 300 MW Spanish subsidy-free solar farm, one of Europe’s largest Frans van den Heuvel: “Talayuela is concrete evidence of Solarcentury’s transition to a fully integrated platform that develops, builds and operates solar and storage assets.” Solarcentury solar farm, Panama
  255. 255. Our Andalusian pipeline is now >500 MW. The subsidy-free projects are likely to start in April, and be completed in a year. Solarcentury gets go ahead from Andalusian government for 4 x 50 MW projects in Seville 7th Jan 2016 20th Nov 2018
  256. 256. Joint project with a community, on a waste tip next to an industrial site, saving 600,000 tonnes of CO2 in next 25 years. Nyrstar, Netherlands, connects to the Dutch grid: 44 MW, 120 football pitches, just 5 months to build 7th Jan 2016 3rd Dec 2018
  257. 257. Kenyan government officials attend a special event to launch Solarcentury’s 503 kWp solar installation. Kenyan dignitaries open East Africa’s largest solar powered airport, Moi International Airport 7th Jan 2016 12th Dec 2018
  258. 258. 2019 The history is still being written…
  259. 259. 7th Jan 2016 7th Jan 2019 Solarcentury Microgen (Germany) set up as a separate company to handle the implementation of orders. Ikea’s solar offer goes on sale across Germany after a successful trial in 5 stores
  260. 260. 7th Jan 2016 23rd Jan 2019 UK solar farm market returns: Solar Media puts total 2019 pipeline (subsidy free) at 3.3 GW in 197 projects They conclude that 41 projects totalling 629 MW are 2019-viable: “we are getting closer to rounding the active-pipeline to 600MW.”
  261. 261. 7th Jan 2016 7th Feb 2019 Solarcentury wins tenth Kenyan commercial solar installation, on Galleria Mall, Nairobi The 562 kW project, to provide 50% of the mall’s daytime power needs, makes SC the largest player in African commercial solar.
  262. 262. Solarcentury’s first French projects as a developer: major auction wins, ahead of both EDF and Engie 7th Jan 2016 18th Mar 2019 57 MW, 3 projects, on brownfield sites, 2 of them partly crowdfunded with community involvement, partnered with OxygnEnergies.
  263. 263. Two Solarcentury mini-grid projects bring solar electricity to 40,000 in Eritrea 7th Jan 2016 26th Mar 2019 1.25 MWp system in Areza and 1 MWp in Maidma, EU & UNDP funded, Solarcentury managing construction and training locals for operation.
  264. 264. Solarcentury completes its largest African project: the most significant C&I solar installation in Nigeria 7th Jan 2016 24th Apr 2019
  265. 265. 7th Jan 2016 1st May 2019 Solarcentury expands into Italy The Italian Government’s National Integrated Plan for Climate and Energy 2030 targets cumulative installed PV capacity of 50 GW by 2030.
  266. 266. 7th Jan 2016 May 2019 A team of 210, we continue to ride the solar wave …as do many of our 670 alumni, in other companies Some of the current team, after a quarterly review
  267. 267. Of course there are headwinds Both in the UK and internationally For example….
  268. 268. 7th Jan 2016 8th Jan 2019 And they will have to wait months, giving away exported electricity free, until the new scheme …with HMG estimating a maximum of only 12.5 MW per year as a result. UK rooftop solar generators will be paid any price utilities fancy, above zero, with no floor price In the UK’s first solar rooftile home, - my house in Richmond – in 1999, I could not have imagined how very difficult the energy incumbency, inside and outside government, was going to make access to free energy from sunlight.
  269. 269. 7th Jan 2016 2nd Apr 2019 IKEA spokesperson: “At this point in time, we do not feel that the majority of new home solar customers will get a good deal.” IKEA & Solarcentury put UK solar offering on hold as a result of post feed-in-tariff uncertainties
  270. 270. 7th Jan 2016 9th May 2019 Huge UK VAT rise on solar panels & batteries makes installation “entirely uneconomic”, say experts The UK government’s latest solar sabotage mechanism will apply from 1 October and follow a consultation which lasted < a month, closing last week, which acknowledged negligible gain in tax revenue to HMT.
  271. 271. 7th Jan 2016 6th May 2019 Renewable capacity growth worldwide stalled in 2018 after two decades of strong expansion: IEA “The world cannot afford to press “pause” on the expansion of renewables and governments need to act quickly”: ED Fatih Birol
  272. 272. 7th Jan 2016 6th May 2019 New net capacity from renewables increased by about 180 GW in 2018, the same as 2017 IEA: This is only around 60% of the net additions needed each year to meet Paris climate goals: that requires 300 GW a year ever year to 2030.
  273. 273. 7th Jan 2016 14th May 2019 “Falling renewables investment stalls Paris climate goals” IEA warns that renewables investment was down for the second year running in 2018, to $304bn, and fossil fuel investment up, to $1.22 trillion. ED Fatih Birol: “the appetite to push low carbon investments and policies is slowly fading.”
  274. 274. But taking a holistic global view, a bright future for solar is clear going forward For example….
  275. 275. 7th Jan 2016 22nd Jan 2019 Carbon Tracker analysts argue that the politics of global warming will now follow the economics….
  276. 276. 7th Jan 2016 22nd Jan 2019 …and that the world is now sitting right on the tipping point
  277. 277. Source: LUT University / Energy Watch 7th Jan 2016 12th Apr 2019 1.5˚C zero-GHG energy from power, heat, transport and desalination sectors is possible before 2050 This 100% RE system - modelled hourly, globally, for the first time – is lower cost than current global supply. It allots solar 69% of the mix. €54 MWh (excl. externalities) €53 MWh 7.2 billion people 9.7 bn people 63,400 GW PV 19% 78,000 GW total renewables capacity
  278. 278. The adventure continues…. Please follow our continuing progress on the front lines of the global solar revolution www.solarcentury.com

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