A low-e insulating glass unit has a suspended, coated IR reflecting polymer sheet under tension, e.g. from heat shrinkage. The polymer sheet is coated with a multilayer stack of dielectric and metallic layers, including at least one silver layer deposited upon a zinc oxide seed layer that is at most 15 nm thickness. The use of zinc oxide ensures good seeding for high quality silver layer growth, thereby providing low emissivity. The thinness of the zinc oxide ensures that it resists cracking when the polymer sheet is tensioned.