Home solar electricity systems have, until now, consisted of little more creativity than different types of solar panels.
But Dow Chemical Company (NYSE: DOW) has something different in mind.
This month, the company will release its newest product: the DOW POWERHOUSE Solar Shingle.
This product revolutionizes the idea of solar roofing, taking the technology of a solar panel and integrating it into the actual roof shingles.
As Vice President of Dow Jane Palmieri told Brighter Energy, the product takes care of the “aesthetics issue” that solar panels create.
The shingles will launch initially in Colorado and move on to approximately a dozen other states by the end of 2012, Brighter Energy reports.
Though the company expressed desire to move beyond just these twelve states, the initial launch will take place, as the article says, where the combination of financial returns and solar receptivity is favorable.
Dow Chemical is using this product to turn around their company, which acquired around $18.51 billion in debt and saw a heavy drop in shares this year.
As Reuters reports, Dow Chemical hopes this product will generate near $1 billion in revenue by 2015.
No price has been announced for the Solar Shingle yet, but it will depend on market price, location, and rooftop size.
The shingles are made right here in the U.S. at Dow Chemical’s factory in Midland, Michigan.
In addition, the company is constructing a larger-scale facility in Midland.
This new facility, officials told Brighter Energy, will create around 1,275 jobs by 2015.
Dow Chemical company shares were up 4.25% on Wednesday afternoon, trading at $23.77.
That’s all for now,
Brianna
