Table of contents

1 Overview: Sunny skies ahead
4 We forecast trebling of solar cell demand by 2010
10 Materials: Silicon supply shortage to be overcome in 2008
14 Industry structure and three-phase earnings distribution
22 Solar cell manufacturing: Cost competitiveness the key
34 Production equip., others: Introduction to related companies
37 Solar cell company valuations
38 Implementation ideas: Introducing our solar CAT portfolio
39 Solar CAT—Solar Cell-Related CAT (GSSZOLR)
41 Disclosures
The prices in this report are based on the market close of March 29, 2006.
ESG