History of Solar Energy

There is nothing new under the sun. As long as man has walked the earth, energy from the sun has been revered and put UNDER THE SUN to use. The earliest uses of solar power included focusing the sun’s energy through a magnifying glass to start fires for cooking. and the design of ancient sunrooms, bathhouses and adobes to capture solar energy for its natural warmth.

Mid Late 1950s- 1970s 1980s- 2000s- 2010 2010s- 2020+ 1800s 1800s 1960s 1990s 2010s 2020s

TAX CREDIT

1839: 19-year old 1883-1884: Charles 1954: Daryl Chapin, 1973: University of 1981: President 2004: Germany 2010: President 2012: Founder of 2020: Renewable French physicist Fritts invents the Calvin Fuller, and Delaware constructs Reagan ordered the implements feed-in Barack Obama SunPower, Richard energy surpasses Edmonds Becquerel from first solar building, White House solar tariffs for solar. requested solar Swanson, published fossil fuels in observes photovoltaic selenium wafers create the first “Solar One.” panels be removed. panels and a an article in The Europe. (PV) effect in a and installs the first PV cell at . 2005: SolarWorld, solar water heater Economist establishing liquid-based cell. rooftop solar panels 1974: In response to 1981: Paul MacCready SunPower, Energy be installed in Swanson’s Law, the on a New York City 1958: First use of solar the energy crisis in built Solar Challenger, Conversion Devices, the White House. learning curve for 1876: UK scientists rooftop. cell to power satellite the U.S., Congress the first aircraft to run Q-Cells, and Suntech photovoltaics. William Grylls Adams 1888: Inventor Vanguard I. passed the Solar on solar power and complete public IPOS. 2010-2013: and Richard Evans Edward Weston Energy Research, flew it across the Period of module 2016: Bertrand Piccard Day make a solid-state received two patents 1963: Japanese firm Development and English Channel. 2006: The Solar oversupply that completed the first PV cell from selenium. for solar cells to Sharp starts mass Demonstration Act to Investment Tax many companies zero-emissions flight transform radiant production of solar help make solar viable 1994: Cumulative PV Credit enacted in do not survive. around the world 1879: Thomas Edison energy derived from modules. and affordable for installation exceeds U.S. with Solar Impulse 2, patents the light bulb. the sun into public use. 200 MW. the world's largest electrical energy. 2007: Spanish . and most powerful 1979: Jimmy Carter 1999: Cumulative PV government subsidizes solar-powered 1897: American had solar panels installation exceeds solar projects. airplane today. inventor Harry Reagan installed on the 1 GW. patents thermal White House. 2008: The Global 2018: China pulls batteries to store Financial Crisis kills back on incentive policy, solar heat. the solar boom. causing a short-term return to oversupply and a collapse in prices. EQM For more information, Global Solar Energy Index visit us at: © EQM Indexes; All Rights Reserved, 2021 EQM Source: EQM Indexes, EnergySage, This infographic is for informational purposes only and does not constitute investment advice, INDEXES or a recommendation to buy or sell securities. Investors may not invest directly in an index. eqmindexes.com Solar Power Finance Without the Jargon, Smithsonianmag.com Solar Generation Process

This illustration shows how heat from the sun is captured by gadgets known as solar modules, which then stores SUN POWERED energy into a charger controller, a battery bank and an AC service panel. The stored energy is used to power utility grids and to supply energy for critical needs during blackouts and other power outages.

SUNLIGHT OUT TO UTILITY Supplies Power to GRID INVERTER & DC/AC Critical Needs During DISCONNECT Blackouts or Other Power Loss

SOLAR MODULES BATTERY BANK

AC UTILITY NET METER DC INPUT

CHARGER AC OUTPUT CONTROLLER AC SERVICE PANEL BACKED-UP SERVICE PANEL

EQM Global Solar Energy Index For more information, EQM visit us at: © EQM Indexes; All Rights Reserved, 2021 This infographic is for informational purposes only and does not constitute investment advice, INDEXES or a recommendation to buy or sell securities. Investors may not invest directly in an index. eqmindexes.com Source: EQM Indexes Solar Power Prices Dropping Faster than Expected

U.S. Utility-Scale Solar Power Cost Per kilowatt hour, 2010 projected to 2030 $0.30 2010 $0.25 $0.277/kWh

2017 $0.20 The 2020 goal of the SunShot Initiative reached three years early $0.15

$0.10 2020 2025 GOAL $0.046/kWh 2030 GOAL Cost per Kilowatt-Hour Cost $0.05 $0.03/kWh $0.02/kWh

$0.00

BY YEAR 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030

The Falling Cost of Solar - The Department of Energy has set a new goal of reducing the cost of utility-scale solar power to 2 cents per kilowatt-hour by 2030. This follows the 2011 SunShot initiative, which set a goal for 2020 and reached it three years early. Figures show the levelized cost of energy, which takes into account the cost of construction and operation.

EQM Global Solar Energy Index For more information, EQM visit us at: © EQM Indexes; All Rights Reserved, 2021 This infographic is for informational purposes only and does not constitute investment advice, INDEXES or a recommendation to buy or sell securities. Investors may not invest directly in an index. eqmindexes.com Source: U.S. Department of Energy, NREL ClimateNews Rapid Increase in Solar Capacity Growth

Global Installed Solar Capacity to Increase by over 800% through the year 2050

2019 and 2050 Global Installed Power Capacity Mix

Countries and industries begin to transition. The low cost solar and clean energy solutions, are transforming worldwide electric utility power capacity is forecasted to almost triple between 2019-2050. Installed solar capacity is expected to grow even faster (over 800%). Solar’s share of total installed power capacity increases from 11% in 2019 to 38% in 2050.

EQM Global Solar Energy Index For more information, EQM visit us at: © EQM Indexes; All Rights Reserved, 2021 This infographic is for informational purposes only and does not constitute investment advice, INDEXES or a recommendation to buy or sell securities. Investors may not invest directly in an index. eqmindexes.com Source: BloombergNEF, 2020 A Comparison of Solar Energy versus Wind Energy

PROS AND CONS Solar Energy Wind Energy GROWTH Faster expected growth and easier Large-scale projects have efficiency installation advantages

RELIABILITY More predictable energy source than Wind fluctuations can be intermittent wind and inconsistent LOCATION Solar panels can be installed on large- Cannot be used in highly populated and small-scaled buildings areas

SPACE Panels require less space than wind Requires significant space and has turbines and are less conspicuous building and permitting issues

SOUND Solar panels do not generate Wind turbine noise often raises unwanted noise concerns from nearby residents

COST The cheapest new-build energy Cost competitive with solar source

ENVIRONMENT Good option for both rural and Constructing wind turbines is less urban areas polluting than making solar panels

EQM Global Solar Energy Index For more information, © EQM Indexes; All Rights Reserved, 2021 EQM visit us at: This infographic is for informational purposes only and does not constitute investment advice, eqmindexes.com Sources: EQM Indexes, INDEXES or a recommendation to buy or sell securities. Investors may not invest directly in an index. BloombergNEF, 2020