RGS Energy (NASDAQ:RGSE), the exclusive worldwide licensee of
POWERHOUSE™, an innovative and visually stunning solar shingle
system using technology developed by The Dow Chemical Company, has
released its preliminary POWERHOUSE™ 3.0 pricing for homebuilders.
Many homebuilders already offer solar solutions at their
communities, driven by homeowners’ demand for electricity savings
and sustainable energy solutions. Further, California’s new solar
mandate requires almost all new homes, condos and apartment
buildings be equipped with solar power beginning in 2020. RGS
expects this new mandate to drive even greater demand for
POWERHOUSE™ 3.0 as homebuilders seek the most affordable
option.
Homebuilders will have a few options. They can install a
traditional rack & mount solar array on the new roof top, or
opt for a solar shingle like POWERHOUSE™ or Tesla Solar Roof.
However, RGS believes POWERHOUSE™ will be the most affordable
solution for homebuilders, as costs are blended with general roof
installation.
Preliminary Price Comparison of POWERHOUSE™ vs. Other
Solar Roof Solutions
|
Rack Mounted Solar System + Full Asphalt
Roof |
|
TeslaSolar Roof = Full
Roof |
|
POWERHOUSE™ Solar Shingle + Asphalt Roof |
Cost of asphalt roof,
2,776 sqft home1 |
$7,728 |
|
|
$0 |
|
|
$5,093 |
|
Solar system size
(watts) |
6,000 |
|
|
6,000 |
|
|
6,000 |
|
Cost of roof
installation per watt |
$1.29 |
|
|
$0.00 |
|
|
$0.85 |
|
Cost of solar system
installation in watts |
|
|
|
|
|
|
|
|
Nationwide Average2 |
$3.73 |
|
|
|
|
|
|
|
Tesla
(full roof with solar)3 |
|
|
|
$8.14 |
|
|
|
|
RGS
POWERHOUSE™ |
|
|
|
|
|
|
|
|
Equipment
kit4 |
|
|
|
|
|
|
$2.80 |
|
Installation labor5 |
|
|
|
|
|
|
$0.25 |
|
Electrical BOS5 |
|
|
|
|
|
|
$0.25 |
|
All in Cost to
Homebuilders |
$5.02 |
|
|
$8.14 |
|
|
$4.15 |
|
|
|
|
|
|
|
|
|
|
1.
National Association of Home Builders, “Cost of Constructing a
Home,” posted December 1,
2017 2.
energysage, “How Much Do Solar Panels Cost in the U.S. in 2018?”,
posted April 22,
2018. 3.
energysage, “Tesla solar roof cost vs. solar panels: worth the
premium?”, posted April 22,
2018. 4.
POWERHOUSE™ kit includes shingles, inverter, monitoring and
non-electrical
balance-of-system. 5.
pickmysolar.com, “The Cost of Solar,” posted October 21, 2016.
“We believe that POWERHOUSE™ 3.0 offers the most compelling
value proposition to homebuilders,” said Brad Bentzen, RGS’
Director of POWERHOUSE™. “POWERHOUSE™ will have the lowest cost, be
easy to install and can be blended with the general construction.
It will also be aesthetically pleasing, with panel efficiency
in-line with the majority of traditional solar panels, and use
technology developed by a trusted brand, the Dow Chemical
Company.”
Follow the company’s progress towards the launch of POWERHOUSE™
3.0 by visiting the PowerLines news section at
www.RGSPOWERHOUSE.com.
Next Generation POWERHOUSE™ 3.0 By coupling
roofing with an energy saving solar panel in a singular product,
the POWERHOUSE™ Solar Shingle uniquely addresses the needs of
residential homeowners that seek an affordable visually stunning
solar option. POWERHOUSE™ is designed to work with asphalt roofs,
which represent about 85 percent of U.S. homes. Currently, more
than 1,000 homeowners are enjoying benefits of earlier generations
of POWERHOUSE™.
RGS Energy believes POWERHOUSE™ addresses a large, untapped
market, appealing to both single-family homeowners and new home
builders. The forthcoming POWERHOUSE™ 3.0 is designed to maintain
or improve upon earlier generation product features, while
substantially reducing manufacturing costs. POWERHOUSE™ 3.0 will
offer a more competitive value proposition, even after the recently
imposed tariff on imported solar cells.
RGS Energy estimates if POWERHOUSE™ achieves a 1% share of the
re-roof and new home build markets, the product could be propelled
to the billion-dollar revenue mark.
About RGS Energy
RGS Energy (Nasdaq:RGSE) is America’s Original Solar Company
providing solar, storage and energy services whose mission is clean
energy savings. The company is the exclusive manufacturer of
POWERHOUSE™, an innovative in-roof solar shingle using technology
developed by The Dow Chemical Company. RGS Energy also sells,
designs and installs traditional retrofit solar systems for
residential homeowners, commercial businesses, non-profit
organizations and government entities.
For more information, visit RGSEnergy.com and RGSPOWERHOUSE.com,
on Facebook at www.facebook.com/RGSEnergy and on Twitter at
twitter.com/rgsenergy. Information on such websites and the
websites referred to above in this press release is not
incorporated by reference into this press release.
RGS Energy is the company’s registered trade name. RGS Energy
files periodic and other reports with the SEC under its official
name “Real Goods Solar, Inc.”
POWERHOUSE™ is a trademark of The Dow Chemical Company, used
under license.
Forward-Looking Statements and Cautionary
StatementsThis press release contains forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 that involve risks and uncertainties,
including statements regarding RGS Energy’s plans for the
commercialization of the POWERHOUSE™ 3.0 Solar Shingle, and RGS
Energy’s business and financial strategies. Forward-looking
statements are neither historical facts nor assurances of future
performance. Instead, they provide our current beliefs,
expectations, assumptions, forecasts, and hypothetical constructs
about future events, and include statements regarding our future
results of operations and financial position, business strategy,
budgets, projected costs, plans and objectives of management for
future operations. The words “forecast,” “project,” “expect,”
“plan,” “future,” “believe,” “may,” “hypothetical,” “will,”
“anticipate,” and similar expressions as they relate to RGS Energy
are intended to identify such forward-looking statements.
Forward-looking statements should not be read as a guarantee of
future performance or results, and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved, if at all. Forward-looking
statements are subject to risks and uncertainties that could cause
actual performance or results to differ materially from those
expressed in or suggested by the forward-looking statements.
Therefore, RGS Energy cautions you against relying on any of these
forward-looking statements.
Key risks and uncertainties that may cause a change in any
forward-looking statement or that could cause our actual results
and financial condition to differ materially from those indicated
in the forward-looking statements include: the actual pricing of
and demand for POWERHOUSE™ 3.0; the impact a POWERHOUSE™ 3.0 roof
will have on the marketability of a home or building; RGS Energy’s
ability to successfully and timely commercialize POWERHOUSE™ 3.0;
the ability to obtain requisite UL certification of POWERHOUSE™
3.0; the adequacy of, and access to, capital necessary to
commercialize POWERHOUSE™ 3.0; RGS Energy’s ability to satisfy the
conditions and its obligations under the POWERHOUSE™ 3.0 license
agreement; RGS Energy’s ability to manage supply chain in order to
have production levels and pricing of the POWERHOUSE™ 3.0 shingles
to be competitive; the ability of RGS Energy to successfully expand
its operations and employees and realize profitable revenue growth
from the sale and installation of POWERHOUSE™ 3.0, and to the
extent, anticipated; competition in the built-in photovoltaic solar
system business; and changes in general economic, business and
political conditions, including tariffs on imported solar cells and
changes in the financial markets.
You should read the section entitled “Risk Factors” in our 2017
Annual Report on Form 10-K, which has been filed with the
Securities and Exchange Commission, which identify certain of these
and additional risks and uncertainties. Any forward-looking
statements or forward-looking hypothetical examples made by us in
this press release speaks only as of the date of this press
release. Factors or events that could cause our actual results to
differ may emerge from time to time, and it is not possible for us
to predict all of them. We do not undertake any obligation to
publicly update or revise any forward-looking statement or
forward-looking hypothetical example, whether as a result of new
information, future developments or otherwise, except as may be
required by law.
Investor Relations Contact:Ron BothManaging
Partner, CMATel 1-949-432-7566RGSE@cma.team