RGS Energy (Real Goods Solar Inc.), a potential rival to Tesla’s solar tile roof system has recently succumbed to Chapter 7 bankruptcy, having failed to raise further capital on long-standing operating losses.
Dual function residential roof tiles or shingles that incorporate solar PV (photovoltaic) cells into an integrated PV system for new build and retrofit homes have already received the ‘hype’ from Tesla’s Elon Musk but a new kid on the blog is set to go head to head with Tesla for this niche US market both from a manufacturing and installation perspective.
US-based PV installer RGS Energy (RGSE), which acquired exclusive rights to Dow Chemical’s third generation (3.0) solar shingles under the ‘POWERHOUSE’ brand, but using conventional crystalline silicon solar cells rather than the original CIGS (Copper, Indium, Gallium, Selenide) thin-film substrates, has included China-based PV manufacturer, Risen Energy as a key supplier.
US-based PV installer RGS Energy (RGSE) has increased its cash burn and pushed-out its expected return to break-even revenue from the first to the second quarter of 2018, as it spends on expanding its sales force and builds PV module inventory ahead of the final determination on the US ITC Section 201 trade case.
US-based PV installer RGS Energy has struck an exclusive deal with Dow Chemical to exclusively sell its third generation (3.0) solar shingles under the ‘POWERHOUSE’ brand said to use conventional crystalline silicon solar cells rather than the original CIGS (Copper, Indium, Gallium, Selenide) thin-film substrates.
The seasonally soft first quarter of the year for the residential solar rooftop market in the US played out again in 2017, with the addition of much heavier rainfall, notably in California. A basket of primarily US residential installers that are publically listed have recently reported first quarter results.
US-based residential and small commercial PV installer RGS Energy said it expected to have netted around US$3.6 million from its latest US$4.1 million public share offering as it struggles to comply with the NASDAQ minimum stock price rule and possible de-listing.
US-based residential and small commercial PV installer RGS Energy is issuing new shares ahead of a final NASDAQ hearing in December 2016 over whether the company would be de-listed as it has not complied with the minimum stock price rule.