Solar Shingles’ Breakthrough Brings Chemical Giant into Solar Game
Dec. 23 2010 - 6:00 pm | 15,128 views | 0 recommendations | 21 comments
Dow Chemical plans to push its game-changing “solar shingle” technology, which installs on roofs like ordinary shingles but can generate electricity from sunlight, into commercial markets in 2011, which will bring the largest U.S. chemical manufacturer into an entirely new and lucrative market.
Dow’s “solar shingles” wrap copper indium gallium diselenide solar (CIGS) modules—made by Global Solar Energy, Inc.— in a proprietary Dow plastic. CIGS cells typically are more efficient at turning sunlight into electricity than traditional polysilicon cells. Presuming homeowners can leverage a 30 percent federal tax solar rebate and local and state rebates, Dow’s product has the potential to be installed on an average home for an estimated cost of $6,000 and could supply about half of the average homeowner’s electrical power. Dow is expecting to generate an estimated $1 billion in revenue by 2015 in a roughly $5 billion market, according to statements made by Dow executives during an interview with Reuters.