Five Projects Leading the Building Decarbonization Charge

October 01, 2024

Supported by NYSERDA

Decarbonizing Buildings Innovation Showcase

Buildings have a carbon problem. Most of the carbon produced in the country is created to power buildings. This has created both an opportunity and a threat to the real estate industry. The threat comes from regulations that are forcing building owners to reduce carbon consumption. The opportunity comes from investors and tenants who favor sustainable buildings over inefficient ones. The growing pressure to decarbonize has forced the industry to innovate, using both cutting-edge technology and thoughtful design. In order to highlight some of the most innovative building decarbonization initiatives, we have chosen some exemplary building decarbonization projects, each with its own unique attributes that can and likely will be imitated by other developments in the future. Our showcase, with the support of NYSERDA (The New York State Energy Research and Development Authority), highlights five unique buildings addressing current decarbonization challenges.

Five Projects Leading the Building Decarbonization Charge

Innovative decarbonization projects across the U.S. are reducing carbon emissions through geothermal heat pumps, greywater recycling, energy-efficient materials, passive design, and retrofit upgrades without displacing tenants.

Presented by NYSERDA

While there’s no one size fits all approach, New York State offers incentives and financing that work for your building’s decarbonization needs.

There are multiple ways for multifamily property owners to fund their decarbonization projects.

Inflation Reduction Act (IRA): Provides funding for large-scale decarbonization and clean energy, including IRA tax credits through 2032 to lower the cost of low-carbon technologies.

Low-cost Financing: Small businesses and multifamily buildings can access low-cost financing for energy efficiency and renewable energy upgrades.

NY Green Bank: Offers loans to support a range of projects and businesses advancing New York’s clean energy transition.

Commercial Property Assessed Clean Energy (C-PACE): Provides long-term financing for up to 100% of renewable energy and energy efficiency improvements in commercial and multifamily buildings.

Take the first step toward a decarbonized future by exploring these funding options today.

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Spotlight

Funding Your Decarbonization Project

Multifamily property owners can utilize IRA tax credits, NY Green Bank loans, and C-PACE financing to manage upfront costs for energy efficiency upgrades, renewable energy installations, and electrification projects. By combining these funding sources strategically and creating a phased decarbonization plan, owners can maximize savings and achieve long-term sustainability.

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