News

RGS Energy files for bankruptcy after its Powerhouse solar shingle failed

RGS Energy filed for Chapter 7 after failing to raise further capital on long-standing operating losses

By Derick Lila February 7, 20200

Solar shingles, also called photovoltaic shingles, are solar panels designed to look like and function as conventional roofing materials, such as asphalt shingle or slate, while also producing electricity. Solar shingles are a type of solar energy solution known as building-integrated photovoltaics.

RGS Energy, Real Goods Solar Inc., ceased operating and filed for Chapter 7 bankruptcy in the United States Bankruptcy Court for the State of Colorado.

What Happened?

RGS Energy had difficulties commercializing its asphalt roof POWERHOUSE 3.0 solar shingles system (commonly called “POWERHOUSE”).

The product was licensed from a division of the former Dow Chemical Corporation (DOW).

How it Happened!

RGS Energy was positioning its POWERHOUSE to compete with Tesla’s Solar Roof System.

The product sales remained largely immaterial and options to raise capital became quite limited after shareholders voted against a proposed increase in the number of authorized common shares on the 2019 annual meeting.

Derick Lila

Derick is a Clark University graduate—and Fulbright alumni with a Master's Degree in Environmental Science, and Policy. He has over a decade of solar industry research, marketing, and content strategy experience.