NYSERDA Announces $36 Million for Office Buildings, Universities, Hospitals and Retail Stores to Cut Energy Costs and Protect the Environment

State will support adoption of advanced technologies to help businesses and building owners track energy use in real time, pinpoint waste, cut costs and drive more than $200 million in energy savings

June 14, 2016

The New York State Energy Research and Development Authority (NYSERDA) today announced the availability of $36 million through two new initiatives that aim to increase the energy efficiency of New York's commercial buildings - including office towers, universities, hospitals and retail stores - which are some of the state's biggest energy users. Combined, the energy efficiency initiatives are estimated to cut energy bills of participating buildings by more than $200 million over eight years.

The programs are expected to save as much energy as it takes to power and heat 64,000 homes, and reduce greenhouse gas emissions by the equivalent of taking 51,000 cars off the road every year. The new strategies will encourage building owners and tenants to leverage the power of new technologies, real-time performance data, and more intelligent design of tenant spaces to drive energy efficiency and smarter energy use at larger scale.

Approximately $30 million is now available through NYSERDA for Real Time Energy Management. These funds will support the use of advanced technologies to help building owners fine-tune their building's energy systems, identify capital projects to cut energy costs, and reduce operations and management costs by an expected 5 to 25 percent.

NYSERDA plans to make an additional $6 million available to building owners and their tenants in early July to improve energy efficiency in leased office spaces, which typically consume between 40 to 60 percent of a building's total energy use. Companies that design and build energy efficient office spaces for their employees can anticipate paying an average of 30 percent less for energy than they would pay in a typical office space. They also can expect their investment to pay for itself within five years while helping to meet their sustainability goals and attract workers.

By reducing energy use in commercial buildings, which account for 31 percent of all energy use in the State, these programs advance Governor Cuomo's Reforming the Energy Vision (REV) to achieve a clean, resilient and affordable energy system for all New Yorkers.

New York State Chairman of Energy and Finance Richard Kauffman said, "Businesses and building owners are thinking more and more about how they can use advanced technologies and sustainable business practices to increase energy efficiency and help protect the environment. Driving energy efficiency in this sector is also a critical component of Governor Cuomo's Reforming the Energy Vision strategy and a smart way to help New York meet its mandate for 50 percent of our electricity to come from renewable energy resources by 2030."

NYSERDA-supported Real Time Energy Management systems will use comprehensive data monitoring and analytics to identify when, where, and how energy is being used in a building. Service providers will conduct in-depth analysis of energy usage data to help guide their customers' operational and capital improvement decisions. As a result, NYSERDA expects that energy-efficient practices will be quickly implemented to maximize building performance and reduce energy expenditures on a daily basis.

John B. Rhodes, President and CEO, NYSERDA, said,"Under Governor Cuomo's Reforming the Energy Vision, the State is focused on smart innovations like these to help New Yorkers reduce energy use and save money. New York is committed to working with the commercial building sector to help tenants, building owners and managers integrate energy efficiency into core operations to improve buildings and help build a clean energy economy."

Through the Real Time Energy Management program, NYSERDA will offset the costs of advanced technologies and energy monitoring services. For more information, visit http://www.nyserda.ny.gov/RTEM.

Through the Commercial Tenant program, NYSERDA will offer cost-sharing to develop energy models and energy efficiency packages for tenant office spaces, as well as other tools and resources that allow tenants greater visibility and manageability of their energy consumption.

Both commercial efficiency programs are funded through the State's Clean Energy Fund, a 10-year, $5.3 billion program to support clean energy market development and innovation and a major component of REV. The $36 million investments announced today are part of a total investment of $72 million earmarked to improve the energy efficiency of New York's commercial buildings over 10 years.

About the Clean Energy Fund

The 10-year, $5.3 billion Clean Energy Fund (CEF) is a core component of New York State's Reforming the Energy Vision strategy to achieve a clean, resilient and affordable energy system for all New Yorkers. It is designed to deliver on New York State's commitment to reduce ratepayer collections, drive economic development, and accelerate the use of clean energy and energy innovation, and it supports the aggressive Clean Energy Standard, which requires that 50 percent of the State's electricity come from renewable energy sources by 2030.

About Reforming the Energy Vision

Reforming the Energy Vision is New York Governor Andrew M. Cuomo's strategy to build a cleaner, more resilient and affordable energy system for all New Yorkers. REV places clean, locally produced power at the core of New York's energy system which protects the environment and supports the State's goal to reduce greenhouse gas emissions by 40 percent while generating 50 percent of its electricity from renewable energy sources by 2030. Successful initiatives already launched as part of REV include NY-Sun, NY Green Bank, NY Prize, K-Solar, and includes a commitment to improve energy affordability for low-income communities. To learn more about REV, please visit www.ny.gov/REV4NY or follow us at @Rev4NY.

About NYSERDA

NYSERDA, a public benefit corporation, offers objective information and analysis, innovative programs, technical expertise, and funding to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce reliance on fossil fuels. NYSERDA professionals work to protect the environment and create clean-energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York State since 1975. To learn more about NYSERDA’s programs and funding opportunities, visit nyserda.ny.gov or follow us on Twitter, Facebook, YouTube, or Instagram.

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