Solar

Thule Inc. Gets US $1.3 Million Solar Grant

The Connecticut Clean Energy Fund (CCEF) announced approval for a US $1.3 million grant for a 318-kilowatt (kW) solar photovoltaic (PV) system at Thule Inc.’s headquarters facility. Thule Inc. manufactures transportation accessories including vehicle roof rack systems.

The Thule PV system will consist of two separate arrays with a total of 1,876 solar panels mounted on the rooftop of the Thule Distribution Center. The PV system will supply an estimated 324,800 kilowatt-hours (kWh) annually, approximately 26% of the facility’s total electrical needs.

The project is organized as a power purchase agreement (PPA) with Nautilus Solar Energy, LLC acting as the system owner and Thule Inc. the host for the project. Under the PPA Thule will purchase the electricity produced by the system at a fixed price below its current utility rate and Nautilus will receive federal tax incentives, rebates and renewable energy credits associated with the project.

“The partnership of Thule and Nautilus Solar Energy reflects a growing trend linking environmental stewardship with sound business practices — in a win-win scenario. Thule will derive the benefits of energy cost control, while Nautilus Solar Energy will enjoy state and federal incentives and a long-term contract to sell clean power back to Thule,” said Lise Dondy, President of CCEF.