SCHÜTZ Packaging Systems Achieves Major Sustainability Milestone
SCHÜTZ Canada's Belleville Facility to Host Ontario's Largest Rooftop Solar Installation
NEWS PROVIDED BY
ECOGRID RENEWABLES INC.
Belleville , Ontario – SCHÜTZ Container Systems Canada's Belleville facility will soon be the site of Ontario's largest rooftop solar installation, offsetting more than 45% of its electricity usage and reducing annual emissions by 489.6 TCO2e.
While the financial investment is significant, the project leverages federal tax incentives for a 100% return on investment in just 5.4 years:
30% ITC: A refundable tax credit equivalent to 30% of the cost of capital investment (into electricity generation systems, stationary electricity storage systems, low-carbon heat equipment and industrial zero-emissions vehicles and related charging or refueling equipment, introduced by the Government of Canada in November 2022).
CCA Benefit: (After the ITC is applied.) A CCA depreciation accelerator allows 75% of theproject depreciation to be written off in year 1 and the remaining 25% in the following years.
Overall Benefit: With both incentives taken into account, this allows for approximately 49% ofthe total capital cost to be recovered within the first two years of project completion.
To maximize the ESG reporting and brand amplification aspects of the project, a subscription to EcoGrid's carbon reporting software, Askiy, will provide SCHÜTZ and its stakeholders with comprehensive data collection from past and future utility bills; energy accounts are also automatically audited two years back to identify billing errors and provide invaluable energy and emissions analytics.
"In terms of climate protection, SCHÜTZ places a strong focus on the use of renewable energies as a core element of our sustainability programme," says Theo Pornalis, Plant Manager of the Belleville facility.
Greg Sommers, President of EcoGrid Renewables Inc., says, "We are thrilled to partner with SCHÜTZ on this ground-breaking project. With its roots in Germany, this company is ahead of the curve when it comes to being proactive about reducing emissions and energy use. Through our unique discovery process, we were able to identify solutions that will dramatically improve this facility's energy footprint and costs, using federal incentive programs to make the ROI on these projects irresistible.
"It's an inarguably great investment for SCHÜTZ, but it's also a meaningful contribution to our province and its future, lowering the strain on Ontario's grid – and reducing emissions for a brighter future for us all."
About EcoGrid Renewables Through its discovery processes, EcoGrid Renewables (EGR) identifies incentivized energy savings opportunities, providing custom solutions with financial performance analysis. Post-project, EGR's proprietary Askiy platform helps companies report and amplify their energy savings and CO2e reductions through ongoing, state-of-the-art tracking and reporting.
About SCHÜTZ CONTAINER SYSTEMS Since its founding in 1991, SCHÜTZ CONTAINER SYSTEMS has developed the largest IBC production network in the U.S. and is recognized not only as the leader in sustainable packaging but also as an innovator. With emphasis on quality, flexibility, and innovation, SCHÜTZ sets the benchmark in its markets – starting with the utilization of a sophisticated quality management system in its production processes.
Source: Ecogrid Renewables
Contact: Todd Watson
Email: info@egrenewables.com
Phone: 905-805-3639
Media inquiries: Lori Bamber
Email: loribamber@egrenewables.com
