Seco received a federal Renewable Energy Grant for $59,061 and a $59,220 grant from the Tennessee Solar Institute for the project. The U.S. Department of Treasury Renewable Energy Grant will pay 30 percent of the total cost of a solar PV system, without any cap, while the TSI grant paid $2 per watt.
These and other incentives covered at least 60 percent of the installation's costs, according to Efficient Energy of Tennessee, the installation company for the project.
The solar power array will generate 37,067 kilowatt-hours annually. Seco expects to generate more than $7,000 through participation in the TVA Generation Partners Program, according to an EETN case study.
"EETN uses SHARP solar panels, which are produced in Memphis, Tennessee, creating and protecting jobs in our state. Additionally, SHARP uses AGC Flat Glass, which is produced in Kingsport, Tennessee."
Seco Tools, Inc. has 40 wholly-owned subsidiaries, agents and distributors in more than 50 countries around the world. EETN's installation for Seco Tools' Lenoir City, Tennessee operation is the company's first solar PV system.
"Globally, Seco Tools has focused a great deal of attention on minimizing our impact on the environment," said Kurt Nordlund, President of Seco Tools Inc. "The efforts undertaken at our facility in Lenoir City, Tennessee are representative of our company's dedication to being an industry leader in terms of green production and operation."