Case Study
Tiffany & Co: Rooftop Solar
Overview
Jeweler and specialty retailer Tiffany and Company (Tiffany”) received a $250,000 grant to support the installation of a 248 kW solar PV installation at its manufacturing facility in Cumberland, Rhode Island. They aimed to reduce operating costs and move the company closer to its sustainability goals, which included sourcing renewable energy generation and purchases to reach 100% by 2025.
Solar Project Summary
Location
Cumberland, RI
System Size
248 kW
Annual Production
300,000 kWh
Interconnection
Net-Metered
O&M/Warranty
10 Years
Electric Needs
TBD
The Challenge
The company received $250,000 to install a solar project, but didn’t have the expertise to navigate the complicated contract process, especially due to complex governmental requirements.
Tiffany approached the state of Rhode Island Renewable Energy Fund (“REF”), where at the time, Copacity’s founder, Julian Dash, was the Director. In his role as a public agency, Dash assisted Tiffany in both identifying and evaluating multiple solar installers. Dash also helped guide the pricing and contract negotiation.
Prioritizing the use and generation of renewable electricity is a key, measurable component of ongoing efforts to achieve net zero emissions.” Tiffany & Co. set the goal of obtaining 100% of its global electricity from renewable sources by 2023. In 2021, it relied on 89% of its global electricity from clean, renewable sources, which included solar panels. Since 2006, Tiffany & Co. has us solar power and now on-site solar power in five of their locations: the Dominican Republic, Cambodia, Rhode Island, and two locations in New Jersey.”
Tiffany & Co.
Sustainability Report
The Solution
Copacity’s founder, Julan Dash, provided Tiffany’s with the expertise and guidance they needed to evaluate solar installers and negotiate the contract.
Thanks to Dash’s work, Tiffany’s moved significantly closer to its energy goals and secured a contract with a lifetime savings of $1.5 million.
Key Takeaways
Work like this – assisting great companies and other organizations in the state to competitively bid and negotiate solar contracts that deliver the greatest value – inspired Dash to start Clean Economy Development, LLC as a specialty consulting firm in the clean energy procurement process. Fast forward to today, Dash now provides this level of expertise via the Copacity platform – allowing for more scale and reach, and ultimately delivering more clean energy solutions for more organizations.
Client Savings
1st Year Savings
$50,000
Lifetime Savings
$1,535,000
