RGS Energy gets USD 42m in reservations for solar shingles

US solar installer RGS Energy (NASDAQ:RGSE) on Friday said it has received written reservations for USD 42 million (EUR 35.7m) in potential annual revenue for the Powerhouse solar shingle system.

RGS Energy is the exclusive worldwide manufacturer of the solar shingles that use technology developed by The Dow Chemical Company.

New reservations have averaged USD 1.5 million a day since the last announcement, RGS Energy said. On June 28, the company said that customer reservations had exceeded USD 36 million.

On Friday, the firm also announced that the solar shingle system has passed UL tests for Class A Fire as a step towards getting UL 1703 Certification, the standard for photovoltaic (PV) modules and panels. Brad Bentzen, director of Powerhouse division, said that solar tests are now the only tests remaining for the UL 1703 certification. "Given that POWERHOUSE™ 3.0 uses industry standard silicon technology, we remain confident we will receive full UL 1703 certification by September as anticipated," Bentzen added.

Sales and and installation of the solar shingles will start immediately once UL 1703 certification is secured.

According to Bentzen, the reservations point to a "huge" market opportunity in the US. He said that California is one of the more compelling domestic markets for the product, given the state’s recent solar mandate. The company is also pursuing International Electrotechnical Commission (IEC) testing to address the global market, Bentzen added.

(USD 1 = EUR 0.849)

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