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Dow chemical eyeing big market with 'solar shingle' technology
By siliconindia
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Saturday, 25 December 2010, 01:44 IST
Washington: 2011 is a year with fresh and money-spinning plans for Dow Chemicals. The chemical giant is aiming for a new and profitable market which has not been endeavored much with its game-changing 'solar shingle'technology, which installs on roofs like ordinary shingles but can generate electricity from sunlight reports William Pentland for Forbes.
Copper indium gallium diselenide solar (CIGS) modules are wrapped in the 'solar shingles'made by Global Solar Energy, in a proprietary Dow plastic for the new venture of Dow Chemical in 2011. 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 could supply about half of the homeowner's electrical power at an estimated cost of $6,000 for installation on an average home. 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. Ascent Solar has also launched flexible solar panels that can be used in tents and wrapped around poles earlier this year but Dow is going to take it a step further as they have received a grant of $20 million from the U.S. department of Energy.
