The U.S. Department of Energy Awards Dow Solar $12.8 Million to Develop Next Generation Breakthrough Building Integrated Photovoltaics

MIDLAND, Mich.--(BUSINESS WIRE)--As part of the U.S. Department of Energy’s SunShot initiative, Dow Solar, a business unit of The Dow Chemical Company (NYSE: DOW), has been awarded a $12.8 million, 3-year grant to fund a program to dramatically reduce the cost of building integrated (BIPV) solar products. The program’s goal is to ensure that solar power is a viable source for the nation’s power needs and economic growth, and accelerate widespread solar adoption. The DOE grant will help fund a $22.4 million program that brings together leaders from across the entire solar value chain, including solar solutions providers, national laboratories, universities, leading electronics companies and national home builders to create a new solar technology that reduces total installation costs and provide reliable, low-cost solar energy to residential consumers.

“Transformational Approach to Reducing the Total System Costs of Building Integrated Photovoltaics”

“We are confident that the Department of Energy’s support of our proposal to use a holistic approach targeting all key points along the solar energy value chain will enable transformational system cost reduction for BIPV. This program has the potential to make renewable solar energy much more cost effective and significantly increase adoption rates.” said Dave Parrillo, Director of Research & Development, Dow Solar. “There is tremendous potential to increase the utilization of BIPV by incorporating solar functionality directly into a building material. The DOE grant provides essential funding to further reduce barriers in solar adoption by focusing on the entire value chain.”

In response to the DOE’s Funding Opportunity Announcement, “Extreme Balance of System Hardware Cost Reductions,” Dow Solar assembled an unprecedented team of partners including Alta Devices, Inc., DR Horton, Inc., Purdue University, Underwriters Laboratories, Inc., Phobos Energy, Emerson Network Power, The Center for Advanced Life Cycle Engineering, ConSol, National Renewable Energy Laboratory, The National Roofing Contractors Association and Oak Ridge National Laboratory in order to achieve the objectives of the proposed project. Dow partnered with these groups to form a breakthrough approach to meeting the challenge of driving the total cost of solar energy down.

Dow Solar’s “Transformational Approach to Reducing the Total System Costs of Building Integrated Photovoltaics” program provides sustainable and innovative solutions that will develop new materials and designs to enable the integration of lightweight and robust BIPV shingles. Dow Solar calculates its BIPV system will significantly reduce the installed cost to meet the DOE target of $2/W without subsidies. The combination of enhanced affordability, aesthetics and reliability will drive consumer adoption of solar technology while also creating thousands of U.S. jobs.

Dow already makes it easier than ever to harness the power of the sun with practical solutions such as the Dow POWERHOUSE ™ Solar Shingles launching later this year. Created to address unmet market needs, these BIPV solar shingles are attractive and are easy to install and maintain, and expected to create over 1275 direct jobs over the next five years.

"I commend the DOE for their focus on driving residential energy solutions, and looking to partner with businesses who share this passion,” said Jane Palmieri, Vice President, Dow Solar. “This project is a great example of an innovative approach to collaborate with partners across the entire value chain to meet national solar and clean energy goals.”

For more information on the Department of Energy, please visit http://energy.gov/articles/department-energy-awards-more-145-million-advanced-solar-technologies, and for more information on Dow Solar please visit http://www.dowsolar.com/.

About Dow

Dow (NYSE: DOW) combines the power of science and technology with the "Human Element" to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world's most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow's diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2010, Dow had annual sales of $53.7 billion and employed approximately 50,000 people worldwide. The Company's more than 5,000 products are manufactured at 188 sites in 35 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.

About Dow™ POWERHOUSE™

In 2007, Dow received a $20 million grant from the U.S. Department of Energy as part of its Solar America Initiative to develop "building integrated" solar arrays for the residential and commercial markets. In October 2009, Dow Solar unveiled the DOW™ POWERHOUSE™ Solar Shingle as the first in a portfolio of building related solar energy generating products. Since its introduction, the Solar Shingle has been hailed as revolutionary, including being named one of the "50 Best Inventions of 2009" by TIME magazine.

The innovative product design provides an unprecedented integrated roof appearance and simplified installation. It combines a roofing shingle with a solar cell, enabling the DOW™ POWERHOUSE™ Solar Shingle to be installed by a roofer along with standard asphalt roofing materials. This makes the DOW™ POWERHOUSE™ Solar Shingle an easy choice for homeowners looking for a residential solar solution that is easy to install and aesthetically pleasing. Building Integrated Photovoltaic (BIPV) products from Dow Solar are evidence that Dow is focused on developing energy alternatives and expanding Dow's commitment to use chemistry to solve the world's energy challenges. More information about Dow Solar can be found at www.dowsolar.com.

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