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LSI Industries Solar Installation Generates Significant Customer Energy Savings and Carbon Footprint Reduction
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
LSI Industries Inc. (LYTS), a leading manufacturer of lighting solutions, has successfully completed a turnkey solar installation at a Speedy Stop convenience store in Austin, Texas. The solar system generates 170 MWh of electricity annually, allowing for a payback period of less than four years. This installation highlights LSI's capability in delivering innovative renewable energy solutions, positioning the company well for future growth in the solar market, especially within the large network of U.S. refueling sites.
Positive
Successful solar installation at Speedy Stop, generating 170 MWh of electricity annually.
Payback period of less than four years for the solar investment.
Opportunity for growth in the solar application market within U.S. refueling sites.
Negative
None.
CINCINNATI--(BUSINESS WIRE)--
LSI Industries Inc. (Nasdaq: LYTS),a leading U.S. based manufacturer of commercial and industrial lighting and display solutions, today announced results from its turnkey solar installation at a Speedy Stop refueling and convenience store in Austin, Texas. The LSI installation mounts a full array of solar panels atop the refueling center’s canopy and car wash. On an annual basis, the system generates 170 megawatt-hours (MWh) of electricity. These results allow the entire investment in the LSI solar panel system to be paid back in less than four years.
“LSI has been a great partner for years. When the opportunity arose to install solar at one of our sites, we were confident that LSI could deliver,” said Cliff Thomas, CEO and founder of C.L. Thomas Inc., which owns Speedy Stop. “Now that we are up and running, the investment is performing at—and sometimes greater than—the levels LSI modeled. Our electricity needs from the grid have been greatly reduced causing noticeable savings on our energy bills!”
“There are over one hundred thousand refueling sites in the U.S., which represents a significant opportunity for utilizing solar applications to realize substantial energy savings in an environmentally friendly way. LSI is uniquely positioned to support the adoption of this technology as a leading manufacturer of energy-efficient lighting and display solutions within the refueling and C-store industry.” Clark continued, “This installation demonstrates LSI’s ability to provide innovative turnkey energy solutions while expanding our presence within other growing markets, including those well-aligned with our long-term plans.”
Thomas Fuels is a premier fuel, lubricant, and chemical distributor in the southern United States. They offer Exxon, Mobil, Shell, Chevron, Texaco, and Citgo branded fuels. For the last ten years, they have been one of the nation’s top five marketers for Chevron Lubricants and top five distributors for Exxon Gasoline.
About LSI Industries
Headquartered in Cincinnati, LSI is a publicly held company traded on the Nasdaq Stock Exchange under the symbol LYTS. The Company manufactures non-residential lighting and display solutions. Our lighting and lighting control systems consist of high-performance, American-made lighting solutions. The Company’s strength in outdoor lighting applications creates opportunities to introduce additional solutions to its valued customers. Our Display Solutions group consists of graphics solutions, digital signage, and technically advanced food display equipment for strategic vertical markets. LSI’s team of internal specialists also provide comprehensive project management services in support of large-scale product rollouts. The Company employs approximately 1,400 people at 11 manufacturing plants in the U.S. and Canada. Additional information about LSI is available at www.lsicorp.com.
What are the results of the recent solar installation by LSI Industries (LYTS)?
LSI Industries' solar installation at a Speedy Stop in Austin, Texas generates 170 MWh of electricity annually and has a payback period of less than four years.
How does LSI Industries (LYTS) plan to expand its market presence?
LSI Industries aims to leverage its capabilities in renewable energy to penetrate the solar market, particularly targeting the extensive network of refueling sites across the U.S.
What is the significance of LSI's solar project for investors?
The successful solar project positions LSI Industries for future growth opportunities and demonstrates its commitment to innovative energy solutions, potentially enhancing shareholder value.
