September 1, 2019
Steam to Ice – a financially prudent energy conservation measure for NYC’s new 1253 law
by Eugene Garcia
Your commercial, industrial or residential building has a new energy conservation measure (ECM) to meet – and new financial opportunities to secure. Here’s what you need to know:
1. By 2030, large city buildings must reduce greenhouse emissions by 40% – increasing to 80% by 2050 – according to New York City Council’s recently passed Intro. 1253-C.
2. The law covers buildings over 25,000 square feet – nearly 60% of the city’s buildings.
3. You can address this law today by changing your steam cooling system to an Ice Storage Solution from ECM Energy Management Services. Ice storage is a form of thermal storage classified as a “clean distributed energy resource” in Intro. 1253-C.
4. Converting now means you can drop chiller-related emissions by more than 75%.
5. For a standard 1-million square foot building, that’s a 1,150+ metric ton carbon reduction.
6. With penalties beginning in 2024 at $268/metric ton above mandated limits, penalty avoidance can add more than $300,000 to your bottom line annually.
7. That’s only part of your financial benefit. Current ice storage incentives can save you up to 50% of conversion costs if structured appropriately. And ice storage eliminates the energy and maintenance costs of steam cooling.
Everyone wins: you get a financially attractive payback (even before penalties kick in), ConEd sees a reduction in electric demand, and NYC sees a significant reduction in carbon emissions.
(ECMcompany.com; (877) 724-9974)Home