Rocky Hill, Conn., April 7, 2008 — The Connecticut Clean Energy Fund (CCEF) board of directors today announced approval of a $1.3 million grant for a 318-kilowatt (kW) DC solar photovoltaic (PV) system at Thule Inc.’s Seymour, Conn., U.S. headquarters facility. Thule Inc. is a world leader in the manufacturing of transportation accessories including vehicle roof rack systems, innovative RV solutions and truck racks and boxes for professional contractors.
“We are experts in maximizing a vehicle’s roof space and we are pleased to be able to use our building’s roof to reduce and stabilize our energy cost,” said Fred Clark, president of Thule Inc. “This installation represents yet another step Thule is taking to minimize our energy footprint. We have made substantial improvements in lighting, maintenance and operations over the past few years to achieve significant energy savings. We encourage our employees to ride bikes to work and provide facilities for those who do so. In deciding to move forward with going solar at our facility we chose American Capital Energy as our integrator because of their extensive and proven experience in large commercial solar projects,” concluded Mr. Clark.
The Thule solar 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 kWh annually, or about 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 purchases the electricity produced by the system at a fixed price below its current utility rate, and Nautilus receives federal tax incentives, rebates and renewable energy credits associated with the project. With this type of arrangement, Thule will not have to incur the cost of purchasing the system and will benefit from stabilizing its price of electricity, as electric prices may increase in the future. The grant for the solar PV system is being provided through CCEF’s On-site Renewable Distributed Energy (DG) Program directly to Nautilus Solar Energy, LLC.
James Rice, CEO of Nautilus Solar Energy, LLC, applauds both Thule and CCEF for their commitment. “Nautilus Solar is very excited to provide renewable energy to Thule for many years to come. Their leadership will reduce dependence on fossil fuel, demand on the distribution system and greenhouse gas emissions.”
Lise Dondy, president of CCEF, said, “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.” Dondy added, “We are seeing more and more installations throughout the state under this smart PPA business model.”
“Thule will enjoy two distinct advantages by using the power purchase agreement model to go solar: controlled energy cost and minimal capital investment,” stated Tom Hunton, president of American Capital Energy, the company designing and installing the Thule system. “We look forward to working with Thule, Nautilus Solar Energy and CCEF to provide Thule with a system that will generate low cost electricity for years to come.”
Connecticut Governor M. Jodi Rell commented, “Once the Thule solar PV system is installed, Connecticut as a whole will benefit from reduced demand on the grid and greenhouse gas reduction. I am delighted that so many of our state’s businesses have embraced clean, renewable energy generation. They are to be congratulated for their environmental stewardship and resolve to make a difference.”
About the Connecticut Clean Energy Fund (CCEF)
CCEF was created by the Connecticut General Assembly and is funded by the electric ratepayers. CCEF’s mission is to promote, develop and invest in clean energy sources for the benefit of Connecticut’s ratepayers in order to strengthen Connecticut’s economy, protect community health, improve the environment, and promote a secure energy supply for the state. CCEF is administered by Connecticut Innovations, a quasi-public authority. For more information on CCEF, please visit www.ctcleanenergy.com.
About Thule Inc.
Thule Inc. is a wholly owned subsidiary within the Thule Group. It is the leading US manufacturer of transportation accessories with production sites in Seymour, Conn., Chicago, Ill., Perry, Fla., Thomasville, Ga. and Blackwell, Texas. Thule’s extensive product line features multi-purpose roof racks, roof top boxes, rear mount racks, truck boxes, side steps and accessories for transporting and organizing outdoor equipment (Thule), professional contractor equipment (Thule Professional and UWS) and recreational vehicles (Thule SMART RV). For more information visit www.thuleracks.com.
About American Capital Energy
American Capital Energy provides full-service solar energy project integration and installation for large commercial enterprises. The company is committed to furthering the utilization of solar energy by America’s most forward thinking companies by offering customized turnkey solar systems designed for long term performance and verifiable return on investment. For more information, visit www.americancapitalenergy.com. Media may contact Rich Schineller at rich@prmgt.com or 941.822.0502.
About Nautilus Solar Energy, LLC
Nautilus Solar Energy, LLC, is a leading electric power company that develops, constructs, finances, owns and operates distributed generation and utility-scale solar electric systems Under long-term power purchase agreements, Nautilus Solar provides commercial, government, non-profit and utility customers low-cost renewable energy. The company has projects in operation, construction and development in the Northeast, Southwest and Western US. For more information on NSE, please visit http://www.nautilussolar.com.
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