RGS Energy Believes New POWERHOUSE™ 3.0 Offers Most Affordable Solar Solution 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
Solar System +
Full Asphalt Roof
Solar Roof = Full
Solar Shingle +
|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|
|Tesla (full roof with solar)3||$8.14|
|All in Cost to Homebuilders||$5.02||$8.14||$4.15|
2. energysage, “How Much Do Solar Panels Cost in the U.S. in 2018?”, posted
3. energysage, “Tesla solar roof cost vs. solar panels: worth the premium?”, posted
4. POWERHOUSE™ kit includes shingles, inverter, monitoring and non-electrical balance-of-system.
5. pickmysolar.com, “The Cost of Solar,” posted
“We believe that POWERHOUSE™ 3.0 offers the most compelling value proposition to homebuilders,” said
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
For more information, visit RGSEnergy.com and RGSPOWERHOUSE.com, on
RGS Energy is the company’s registered trade name. RGS Energy files periodic and other reports with the
POWERHOUSE™ is a trademark of
Forward-Looking Statements and Cautionary Statements
This 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
Investor Relations Contact:
Managing Partner, CMA