New York efficiency drive to retrofit housing stock
City-owned housing in New York is set to improve its energy efficiency with retro-fitted insulation and other measures.
The Clinton Climate Initiative (CCI) is teaming up with the mayor’s office and the New York City Housing Authority (NYCHA) to work with energy companies, banks and green building organisations to speed up a planned energy efficiency programme.
Buildings account for up to 80% of New York’s greenhouse gas emissions and city-owned apartments make up 8.4% of the total rental accommodation, housing 5.1% of the city’s population.
Even small energy savings in the NYCHA stock are therefore likely to have a significant impact.
In the past, many private building owners did not undertake building retrofit projects because of the need for a large initial financial investment coupled with a fear of uncertain savings in the long run.
To remedy this problem, CCI has entered into agreements with banks to provide financing, as well as with eight of the world’s largest energy service companies (ESCOs) to provide energy savings guarantees for the building retrofit projects that they manage.
CCI will help NYCHA partner with banks and one or more ESCOs to implement and meet energy-saving benchmarks quickly, effectively and cheaply.
New York is just one of the many cities joining CCI in these efforts to make a measurable difference in combating climate change.
Paris is retrofitting more than 600 of its nursery and primary schools. Chicago is retrofitting multi-tenant housing in the Windy City.
These projects are being held up as proof that the business of fighting climate change can be profitable as well as helping the planet.