updated 10/11/2010 6:16:30 PM ET 2010-10-11T22:16:30

ROCHESTER HILLS, Mich., Oct. 11, 2010 (GLOBE NEWSWIRE) -- United Solar announces the UNI-SOLAR® brand PowerShingle™ – a breakthrough, industry-leading, aesthetically-pleasing solar product that removes the barriers which have kept many homeowners from installing solar on their roofs. For a close-up view, visit the UNI-SOLAR booth (3219) at Solar Power International in Los Angeles, California on October 12-14.

A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8137

PowerShingle is the first ever, UL-approved, standard production residential solar module roof shingle available for the U.S. photovoltaic marketplace. The product replaces the need for heavy, bulky and unattractive frames on homeowners' roofs.

"A consistent message from homeowners is that until residential solar options became aesthetically pleasing and fit into their homes' current roofline, they simply weren't ready to take the solar plunge – or at best will limit solar to the backside of their home," said Mark Morelli, President and CEO of UNI-SOLAR's parent company, Energy Conversion Devices (Nasdaq:ENER). "Now with PowerShingle's seamless fit, low profile and added durability, we've solved homeowners' main visual objections and they can say, 'finally, solar for the front of the home'."

PowerShingle's design fits the low-profile, visually-aesthetic needs of homeowners, drastically improving the marketplace outlook for a wider scale acceptance of solar on residential roofs.

UNI-SOLAR's extremely lightweight and very flexible laminates allowed UNI-SOLAR engineers the ability to integrate solar into laminates that are designed to look like asphalt shingles. The PowerShingle product features laminates that are glass-free and encapsulated in UV-stabilized, weather-resistant polymers that hold up against Category 3 hurricane winds, hail and other heavy impacts – while continuing to provide excellent performance and protection for the inside of the home.

PowerShingle will be included as a part of a residential solar lease pilot program in New Jersey offered by New Jersey Resources Home Services, a leading home appliance, service and installation company. Through this program, New Jersey Resources Home Services is helping to make renewable energy affordable and accessible to customers by offering installation of solar panels with no upfront, installation or maintenance costs.

"We're excited about expanding our solar offerings in the residential market," said Morelli. "We believe PowerShingle's sweet spot will be the new roof and re-roofing market, which is estimated at more than four million homes per year in the U.S., a large potential market for a residential product."

UNI-SOLAR has more than 25 years experience in the ever-growing worldwide industry of solar power generation, and is the largest manufacturer of lightweight flexible solar panels in the world.

About Energy Conversion Devices/United Solar

Energy Conversion Devices (ECD) (Nasdaq:ENER) is a leader in building-integrated and rooftop photovoltaics. The company manufactures, sells and installs thin-film solar laminates that convert sunlight to energy using proprietary technology. ECD's UNI-SOLAR® brand products are unique because of their flexibility, light weight, ease of installation, durability, and real-world efficiency. Through its Solar Integrated Technologies business, the company also designs, manufactures and installs rooftop photovoltaic systems, which enable customers to transform unused space on the rooftop into a value-generating asset. In addition, ECD's Ovonic Materials Division is the pioneer in NiMH battery technology, and is developing low cost fuel cells, hydrogen production from bioreformation, and hydrogen storage technologies. For more information, please visit www.energyconversiondevices.com .

This release may contain forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future net sales or performance, capital expenditures, financing needs, plans or intentions relating to expansions, business trends and other information that is not historical information. All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Risks that could cause such results to differ include: our ability to maintain our customer relationships; the worldwide demand for electricity and the market for solar energy; the supply and price of components and raw materials for our products; and our customers' ability to access the capital needed to finance the purchase of our product. The risk factors identified in the ECD filings with the Securities and Exchange Commission, including the company's most recent Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q, could impact any forward-looking statements contained in this release.

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