Real Goods Solar, Inc. (NASDAQ:RGSE)
Real Goods Solar, Inc. (NASDAQ:RGSE) shares gained 23.5% after Solarize New Haven selected the solar company to provide solar electricity to homes and business in New Haven, Connecticut. The campaign is to begin on October 18, 2017, and set to run through March 7, 2018. Smart Power, the nation’s leading nonprofit marketing firm, has been selected to market the campaign as it is experienced with community-based energy programs.
“We are thrilled to be joining forces with Solarize Connecticut once again for what we believe will be another successful Solarize program,” said Tom Champlin, Director of sales at RGS Energy. “We will provide our exceptional service to New Haven, supported by our 31 local Connecticut employees, based out of our 10,000 square foot, centrally located, warehouse in Bloomfield.”
Overall, Real Goods Solar, Inc. (NASDAQ:RGSE) shares have suffered in the market. RGSE stock is down by more than 70% for the year. However, the stock has shown some signs of recovery as investors react to the signing of an exclusive domestic and international license agreement with Dow Chemical Co (NYSE:DOW).
RGS Energy – DOW Agreement
Under the terms of the agreement, RGS is to lead commercial activities for the POWERHOUSE solar shingles stem, developed by DOW. The company is also to handle supply chain management, marketing, sales installation, and warranty.
The POWERHOUSE solar shingles are designed to be aesthetically more pleasing than a traditional solar array. RGS plans to expand the network of authorized local roofers to achieve lower cost of customer acquisition as it moves to market the shingle.
The company also plans to engage in direct sales with new home builders in a bid to attract more orders. RGS will also expand its call center and digital marketing program to aggressively market the product.
“We believe that RGS is well positioned to optimize the market potential for POWERHOUSE™ 3.0 solar shingles system. The design of POWERHOUSE™ 3.0 solar shingles addresses the critical requirements of customers and installers and achieves a price point that will be very competitive,” said Kirk Thompson, Business Director of Dow Solar.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.