02 November 2010 19:44 [Source: ICIS news]
(recasts with video)
MIDLAND, Michigan (ICIS)--Chemical demand from renewable energy, advanced batteries and other clean-technology markets will remain strong despite uncertainty on how newly-elected US law makers will implement renewable energy policies, a Dow Chemical official said on Tuesday.
“We don’t expect government incentive plans for clean technologies to drastically change, even if there will be a new majority party in the senate after the US election this November,” said Dow Chemical vice president of sustainability Neil Hawkins in an interview on the sidelines of the company's Investor Day.
US demand for clean technologies such as solar, wind and advanced energy storage batteries for electric vehicles will continue to grow, driven by global trends in the search for alternative energies, Hawkins said.
Dow said most of its new projects are aligned with that larger energy trend. The company expects the global clean-tech energy sector to be worth more than $4,000bn (€2,880bn) by 2020.
“One of our biggest recent accomplishments, and we believe a game changer in the market, is our POWERHOUSE solar shingles for US residential houses, which we will start marketing in limited quantities in the second quarter next year,” said Hawkins.
Dow estimates market opportunity for chemical and materials companies in the solar-energy industry at $5bn. The company expects to earn more than $1bn by 2015 from the solar-shingles technology.
This week, the shingles received a safety certification from US-based Underwriters Laboratories, which Dow said is a crucial third-party confirmation for the safety of its product.
($1 = €0.72)
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