It is not a new idea, and the material already exists. However, one very special property makes it more effective than traditional facade insulation - especially in summer, but not only.https://www.notebookcheck.net/Cooling-house-facade-manipulates-heat-radiation-to-great-effect.856239.0.html
Doesn't plastic turn into cancerogenic dust when exposed to direct sunlight?
This does not seem like a good idea AT ALL the way it is described.