Next 3 years – Growth Resumption
􀂃 As global economy heals, global leaders will refocus on Clean Energy
􀀹 Positive Policy Tailwinds
􀀹 Renewed vows ahead of Copenhagen Summit in December 2009
􀂃 Increase in oil price and price of other fossil fuels
􀀹 Greater need for energy balance
􀀹 Positive sentiment for solar stocks
􀂃 At positive inflection
􀀹 FY09 the worst year for volumes and ASP’s
􀀹 Secular strong growth ahead
􀂃 Solar – Dislocation largely over … poised for inflection
􀀹 Sharp ASP declines => Demand Elasticity
􀀹 Industry now focusing on cost reduction and innovation
􀀹 Arrival of the Asian Age – Gain market share