The Dow Chemical Company (DOW - Free Report) announced that it its unit Dow Solar will expand its revolutionary solar roofing system – POWERHOUSE Solar Shingle – to Delaware and Hawaii. Both states are smaller with respect to population and geography and rank among the top 10 states in the solar industry.
Given the demand in these states, Dow Solar decided to introduce the DOW POWERHOUSE Solar Shingles in these two markets. According to the Environment America Research and Policy Center, Hawaii and Delaware rank third and seventh, respectively, in terms of solar power per capita.
Hawaii is listed by the Solar Energy Industries Associates among the top 10 states for total installed solar capacity due to its highest residential utility rates in the nation. Backed by strong net metering programs, these states enable homeowners to control their energy costs by renovating their rooftops with Solar Shingles.
In Hawaii, Green Path Technologies will provide POWERHOUSE Solar Shingles to residents of all major islands in collaboration with a local roofer. In Delaware, G. Fedale Roofing & Siding Contractors, CMI Solar Electric, and Yencer Builders have undertaken the job of installing the solar system. A home at Wilmington pioneered reroofing in the state with Solar Shingles.
The POWERHOUSE Solar Shingle has some unique features. It includes a custom designed array that complements the style of the homeowners while fulfilling their energy saving goals. It comes with a solar inverter that converts Direct Current (DC) into Alternating Current (AC) to cater to residential power needs. The system also helps to monitor real-time energy production from an Internet connection.
POWERHOUSE Solar Shingle is certified as both a solar and roofing product. It has received a host of performance and safety certifications and is proven to withstand rain, hail and wind uplift.
Dow continues to develop technologies that exploit the power of the sun and helps in converting solar energy into an efficient source of electricity. In addition to POWERHOUSE, the company’s other notable offerings include the ENLIGHT polyolefin encapsulant films that are designed for use in photovoltaic solar panels.
Dow is a Zacks Rank #3 (Hold) stock.
Better-ranked companies in the diversified chemical space include LyondellBasell Industries NV (LYB - Free Report) , Marrone Bio Innovations, Inc. (MBII - Free Report) and Celanese Corp. (CE - Free Report) . While LyondellBasell Industries and Marrone Bio Innovations sport a Zacks Rank #1 (Strong Buy), Celanese holds a Zacks Rank #2 (Buy).