Dive Brief:
- The New York State Energy Research and Development Authority launched a competitive $10 million prize Wednesday to advance tall building low carbon heating system retrofits.
- The Empire Technology Prize, announced by New York Gov. Kathy Hochul and administered by The Clean Fight, includes a $3 million Wells Fargo sponsorship. The initiative is aimed at encouraging innovators and solution providers to develop fully functional prototypes of heating or distribution systems designed for installation without displacing occupants and that work within the existing infrastructure of buildings seven stories or taller.
- The NYSERDA prize intends to support New York state’s Climate Act agenda with a goal of cutting 85% of greenhouse gas emissions by 2050.
Dive Insight:
Buildings, which account for approximately two-thirds of greenhouse gas emissions in New York City, are increasingly on the radar of policymakers. The city recently unveiled a plan supporting a proposed rule to implement Local Law 97.
The proposed law seeks to bring the city’s largest buildings to net-zero emissions status by 2030. Most buildings over 25,000 square feet will need to comply with new energy efficiency and greenhouse gas emissions limits by 2024. While building operators are preparing to meet these requirements, those falling behind on net-zero compliance could get some wiggle room in the form of time extensions and reduced penalties if they can demonstrate a “good-faith” commitment to abide by the law.
NYSERDA says the Empire Technology Prize represents a significant market opportunity for equipment manufacturers and entrepreneurs to develop low-carbon solutions for tall commercial and multifamily buildings, alongside real estate partners which can gain valuable insights for lowering their building emissions.
“Investing in new clean, resilient technologies is just one way that New York is advancing progress toward our ambitious Climate Act goals, and the Empire Technology Prize is the newest tool as we move forward,” Hochul said in an Oct. 11 news release. “This program will help us develop solutions that lower harmful emissions from buildings, creating healthier spaces for all New Yorkers to live and work, as we come together to fight climate change.”
About 1.5 billion square feet of existing buildings use steam to provide heating in New York. As a measure to reduce the carbon footprint of those buildings, NYSERDA is seeking proposals focused on centralized building heat pumps that generate steam or high temperature hot water, or innovations designed to facilitate the integration of readily available centralized low temperature heat pumps into existing distribution systems.
Industry experts and real estate companies will review and judge proposals submitted by applicants.The Clean Fight will bring finalists together with building portfolio owners interested in giving feedback to discuss pilot and demonstration opportunities in New York, NYSERDA said.
Applicants are eligible to receive up to $1 million each, including $250,000 on acceptance as a finalist and up to $750,000 in milestone payments by progressing their solution. Additionally, $2 million will be available to help finalists offset installation costs, such as those incurred on pilot programs or demonstration projects in eligible tall buildings. Applications will be accepted through 3:00 p.m. on March 22, 2024.
