ECM TALKS ENERGY

Our latest in thought leadership to help you effectively decipher the market news and sector information that impacts your energy procurement and energy management efforts.

 
 
 
 
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)

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