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Dow Chemical Awarded $12.8 Million by Department of Energy T

Financial News Network
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September 03, 2011 AT 5:05 AM
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 solar products. The program's goal to ensure that solar power is a viable source for the nation's power needs and economic growth, and accelerate widespread solar adoption.The Department of Energy grant will help fund a $22.4 million program that brings together leaders from across the entire value chain, including solar solutions providers, national laboratories, universities, leading electronics companies and national home builders to create a new solar technology that reduces the total installation costs and provide reliable, low cost solar energy to residential consumers.Dow Chemical (NYSE:DOW) has a potential upside of 53.4% based on a current price of $26.83 and an average consensus analyst price target of $41.15.