Table of Contents
Executive summary ........................................................................... 3
The present backdrop ....................................................................... 9
Methodology.................................................................................... 21
Solar PV value chain........................................................................ 23
Manufacturing (upstream) .............................................................. 29
Energy (downstream)...................................................................... 51
Ambitions on a 0.5TWp scale ......................................................... 56
Operating assumptions................................................................... 63
Addressing project ROIs ................................................................. 65
Large scale install framework......................................................... 72
Cash flow framework and capital investment .............................. 88
Subsidies and capital outlay........................................................... 93
Detailing cash flows ...................................................................... 117
Job creation potential ................................................................... 125
Business models & companies..................................................... 131
Final comments ............................................................................. 141