Solar Shingle Maker Takes First Order, Partners with Lender
DENVER, Colo. — RGS Energy said it has accepted its first customer purchase order for its solar shingle system and is working with a lender to help roofing contractors more easily carry its line of products.
RGS (Real Goods Solar) Energy manufacturers the Powerhouse Solar Shingle System after it struck an exclusive deal in 2017 with Dow Chemical to license and sell shingles featuring technology developed by Dow. The public company is listed on the Nasdaq.
According to a Nov. 2018 article in PV Tech, RGS is expected to battle for market share with Tesla in the solar shingle market.
RGS recently announced its first customer order.
“We have now successfully manufactured our product as planned and accepted our first customer purchase order,” said Dennis Lacey, RGS Energy’s CEO. “We remain on track for revenue to increase substantially in the first quarter of the new year. We have already arranged with our supply chain partners for over 5 megawatts of Powerhouse to be manufactured and ready for distribution during the first quarter. We plan to increase the number of Powerhouse shingles manufactured each quarter throughout 2019.”
On Monday, RGS announced it has partnered with Behalf, an online business lender to offer Powerhouse professionals affordable access to capital to help grow their solar business and streamline cashflow.
The company said Behalf’s online leading technology can conveniently be used by roofing contractors certified as Powerhouse professionals for quick and affordable capital to grow their business.
Powerhouse professionals who choose to pay with Behalf instead of using their own cash, check, or credit card are able to customize their payment schedule for each purchase. RGS is paid the next business day by Behalf. The Behalf payment method will radically improve cashflow for both RGS and Powerhouse professionals.
“We founded Behalf in advocacy of small businesses and solving their working capital needs with innovative technology solutions as our central focus,” said Behalf CEO and Co-Founder, Benjy Feinberg. “Partnering with RGS allows us to expand our product offering and serve more customers with financial tools that help them grow.”
“Local roofers will tell you cash flow is a very important aspect of their business,” said RGS’s Lacey. “We believe Behalf is the perfect solution to help our local roofers expand their solar business. We are proud to partner with Behalf with the goal of making purchases easier for our certified POWERHOUSE™ Professionals. I’m excited by the opportunities ahead.”