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3M Renewable Energy, a division of
3M Company ( MMM - Analyst Report) , and photovoltaic solutions manufacturer tenKsolar recently celebrated their 200 installations. In two years of collaboration, the companies have worked in unison for boosting energy generation from commercial rooftop photovoltaic (PV) arrays.
To date, both the companies have completed 200 installations at locations across the U.S., Latin America, Europe and Asia. The company came together in 2011 and combined 3M designed Cool Mirror Film 330 with tenKsolar RAIS commercial solar array. The Cool Mirror Film 330 is an all-polymeric mirror film that offers low photopic reflectance with minimum heat reflection.
The usage of the cool mirror film in combination with tenKsolar’s shade tolerant PV modules provides energy at a lower cost than solar PV system. This system is able to generate up to 45% more energy per square foot of rooftop annually in comparison to a conventional solar module. Additionally, it reduces energy costs and provides energy savings to buildings by reducing rooftop temperatures.
3M is uniquely positioned to develop solutions that enhance reliability and improve the performance of solar technologies. The company remains focused on inventing new products to maintain its competitive advantage worldwide.
3M, together with its subsidiaries, operates as a diversified technology company with manufacturing operations spread over 70 countries. The company aims to deliver innovative security solutions to businesses and governments worldwide.
3M currently has a Zacks Rank #2 (Buy). Other stocks that look promising and are worth a look now are Hutchison Whampoa Ltd , China Merchants Holdings (International) Co., Ltd ( CMHHY - Snapshot Report) and Honeywell International Inc. ( HON - Analyst Report) , each carrying a Zacks Rank #2 (Buy).