RGS Energy is walking the walk when it comes to bringing a product to market. You might remember the last time we waxed poetically about the Powerhouse. The company is now progressing nicely – $36 million in ‘written reservations’ on June 28 nicely. A week later, the company noted that they’d broken $42 million – a $1.5 million a day pace, and $50 million on July 16. They’ve also expanded manufacturing partnerships to enable further growth.
RGS still has a while for 1% of the 5 million residential re-roofing projects undertaken each year in the United States that would be worth $1 billion to the company – but again – steps are being taken.
On July 6th, RGS Energy announced that their Powerhouse 3.0 solar shingle system had passed UL tests for Class A Fire.
According to Brad Bentzen, direct of Powerhouse division,
Solar tests are now the only tests remaining toward 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.
And this morning, RGS Energy released a new press release stating that they’d broken $60 million in ‘written reservations.’ In the 24 days since their June 28 announcement of $36 million in reservations, they’ve averaged $960,000 more per day.
The company noted that reservations had been coming from three dozen roofing dealers across 15 states.
If the $60 million represents equipment kit reservations at $2.80/W, then 21 megawatts worth of product have been ordered to date. RGS Energy, via an email with pv magazine, stated that it was safe to say that more than 20 megawatts of solar shingles had been reserved.
RGS Energy’s hopes are significantly buoyed by two factors – Tesla and California. Tesla makes increased market size, since the company legitimized the Powerhouse by showing that the marketplace has a high quality (and higher priced) competitor. Additionally, Tesla’s marketing reach will significantly expand the public’s knowledge of such products.
Of course, California’s solar rooftop mandate will change the solar power industry. And with RGS Energy being a premium aesthetic product that will amazingly integrate with a new home installation – the company is primed for victory.