RGS Energy has announced that its board is seeking “strategic alternatives” including a sale of the company, following on its stock being delisted from the NASDAQ to the pink sheet OTXQX platform.

Following an announcement of possible rising from the dead, this pv magazine USA author has been infatuated (seriously, started this panel specification article waxing poetically) with the possibilities of the RGS Energy’s POWERHOUSE 3.0 solar shingle (and let’s be honest, any new and shiny non-traditional solar module – can we say bifacial?).

But with Tesla’s Solar Roof taking its time, dreams of perovskite always abound, and now this POWERHOUSE™ announcement, maybe its a good moment to remind ourselves the juggernaut that the modern 60 and 72 cell solar module really is.

RGS Energy has announced that its, “Board of Directors, supported by its management team, has commenced a process to explore strategic alternatives focusing on maximizing shareholder value.” This announcement follows the company moving its stock from the NASDAQ stock trading platform to the OTXQX trading market, since the stock price was unable to hold a $1/share price.

In April of 2018, the company sought – and received –  $10 million to commercialize the POWERHOUSE solar shingle, at that point suggesting it’d be all the funding needed to move the product to market. In Friday’s press release, the company noted that it would take an extended period, perhaps “years” for its product to grow its brand name and revenue. With that the company defined its potential pathways as:

Strategic alternatives to consider may include, among others, a sale of RGS Energy, a business combination such as a merger with another party, or a strategic investment financing which would allow the Company to continue its current business plan of commercializing POWERHOUSE™ solar shingles.

During 2018 and this early 2019, the company released multiple press releases noting milestones for various certification and “written reservations” volumes;

pv magazine USA has requested comment from RGS Energy on the status of the written reservations, and what some of the challenges that arose when attempting to move those potential customers (88 unique roofing companies) from written reservation to purchase orders.

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More articles from John Fitzgerald Weaver

This is a perfect example of spending good money on a bad idea, Not to mention the cost of the product is a 2 X over conventional solar panels. When Dow Chemical exited the business after spending 200 million, one should have learned from Dow’s discoveries.

“Bad idea” is that right. Check this out Congratulations to the finalists and winners of the 2019 Best of IBS Awards! The companies listed below vyed for the title of the best of the best, in their respective categories at the 2019 NAHB International Builders’ Show®. Category winners and our Best in Show winner were announced at the Best of IBS Awards on February 21, 2019.

Over 300 entries in nine categories were received and our 31 industry and media judges considered the following criteria in order to select our 2019 finalists and winners RGS

Preliminary Price Comparison of POWERHOUSE™ vs. Other Solar Roof Solutions

Rack Mounted Solar System + Full Asphalt Roof Tesla Solar Roof = Full Roof POWERHOUSE™ Solar Shingle + Asphalt Roof Cost of asphalt roof, 2,776 sqft home1 $7,728 $0 $5,093 Solar system size (watts) 6,000 6,000 6,000 Cost of roof installation per watt $1.29 $0.00 $0.85 Cost of solar system installation in watts Nationwide Average2 $3.73 Tesla (full roof with solar)3 $8.14 RGS POWERHOUSE™ Equipment kit4 $2.80 Installation labor5 $0.25 Electrical BOS5 $0.25 All in Cost to Homebuilders $5.02 $8.14 $4.15

***I’ll let You figure out where the numbers go***

I worked with this company. The sales girl is nuts. The model is bad. They had an opportunity to take this product to the next level and they missed the boat on working with contractors in a proper manner.

I agree. If they are not going to employ an experienced marketing representative, they should at least hire an outside firm to try to straighten out the current mess. Kimberly Farnham does not have any true marketing experience. Her resume is posted online. https://www.linkedin.com/in/kimberlyrfarnham This is a great product with tremendous potential. It is sad that the people in charge of marketing this product are not marketing it in the strategic manner that it deserves.

Way cheaper then tesla and very cost effective, unique design and patents held. We know management leads to be desired but at this point sellings a good idea shareholders arent gonna take much more if this goes to 0 its gonna get ugly they need to do something quik. Horribly written article BTW

Any feedback on how to be a better article writer?

I don’t understand the negativity in this comment? What was it about this article that you did not like @Chentay Vogalino?

“Way cheaper then tesla and very cost effective, unique design and patents held. We know management leads to be desired but at this point sellings a good idea shareholders arent gonna take much more if this goes to 0 its gonna get ugly they need to do something quik. Horribly written article BTW”

I am not sure that the person responsible for this run-on mess of a comment ↑ is worthy of determining what qualifies as, “horribly written”

Great Article Mr. Weaver! Thank you for reporting.

At the end of the day, you will go broke selling direct, Wholesale Distribution is the ONLY WAY TO GO TO MARKET in our industry.

The sales of a new solar system need to start small scale. Growing money will not help. The installation of solar shingles is a combination of roofers and electricians. The large solar panels are just handheld by licensed electricians. Roof shingles or solar roof tiles is a new idea in this country. In EU the big market share is the large solar panels. With builders of new homes and Architects being Involved the solar shingles and solar tiles are building up market share. Tesla and Dow where sponsored by government and ones the money was spend they got into trouble. The solar technologies from Tesla and Dow are excellent it is the commercialization who is not done right. After learning this lessen we need to be realistic and approach the market step by step. Maybe there is need for a solar shingle and tile federation to promote the product! After all the beauty of it is you can show your friends what a beautiful roof you have! In your cost analyses when comparing systems you need to deduct from the shingle cost the asfalt shingle cost. And that will bring you around the 4,00$/watt. I am starting up later this year in the solar tile business with a solar roof system already selling well in EU but with different looks than shingles. Check us out http://www.desolpowertiles.com. Made in SC and top rated product. We have a total of 6 UL certifications even a Huricane 5 wind resistance certification. Plus CEC and Florida State. Cost of a solar roof depending on the shape of the roof average between the 4 to $4,50 a watt. To compare prices deduct the shingle cost. The final cost will not be much different. The quality tops the best of the best! You can contact us through our website.

George…. You’re exactly right. I was excited to start putting these on roofs in Colorado. I have never been treated so bad by a sales person. If you aren’t 100% solar all the time Kimberly wants nothing to do with you. I’m sorry, but I have an entire business to run, not just solar. After those interactions it was obvious the business was not going to make it. I backed away quickly and am glad I didn’t put any of my customers in these shingles.

Well Tesla is not doing so well now. They don’t even really have a product. Powerhouse 3.0 is picking up and cost effective. It’s a matter of time before the products are distributed widely.

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