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Sustainable development

Empire Building Challenge: A $50 Million Initiative for Replicable and Scalable Clean Energy Solutions

Strategic Insights

— 2 min read

The Empire Building Challenge, a $50 million initiative announced by Governor Andrew M. Cuomo, aims to transform existing multifamily and commercial high-rise buildings in New York State, significantly reducing their carbon footprint. This challenge is part of the state's nation-leading clean energy and climate agenda, which mandates an 85 percent reduction in greenhouse gas emissions by 2050. The challenge will focus on public-private partnerships with leading industry experts, leveraging their expertise to develop low-carbon retrofit approaches and increase energy efficiency in existing buildings.

Key Takeaways:

  • The Empire Building Challenge is a $50 million initiative proposed by Governor Cuomo to transform existing multifamily and commercial high-rise buildings in New York State.
  • Buildings account for 45 percent of greenhouse gas emissions from fuel combustion and electric generation in the state.
  • The challenge aims to develop low-carbon retrofit approaches and increase energy efficiency in existing buildings, reducing their carbon footprint.
  • The initiative will attract best-in-class manufacturers, solution providers, and entrepreneurs to help build the green economy in New York State.
  • Phase one and phase two of the initiative will offer $27 million to support projects that address the major challenges of decarbonizing high-rise buildings.
  • Winning proposals will be eligible for up to $5 million each to support project development and implementation.
  • Phase three will offer $10 million to support the replication and scaling of solutions demonstrated in phases one and two.
  • The initiative is expected to result in significant learning, with new solutions being evaluated in the field, findings being shared broadly, and case studies being produced.

Statistics:

  • Buildings account for 45 percent of greenhouse gas emissions from fuel combustion and electric generation in New York State.
  • The retrofit market opportunity in New York City could be over $20 billion by 2030, creating over 100,000 jobs by 2030 (Urban Green Council, 2019).
  • Phase one and phase two of the initiative will offer $27 million to support projects that address the major challenges of decarbonizing high-rise buildings.
  • Winning proposals will be eligible for up to $5 million each to support project development and implementation.
  • Phase three will offer $10 million to support the replication and scaling of solutions demonstrated in phases one and two.
  • The initiative aims to decarbonize more and more buildings across New York State by 2025.

Sources:

  • "Empire State of Mind: A $50 million Push to Green the Big Apple's Real Estate" (Al Bawaba, 2020)
  • "New York State Launches $50 million Empire Building Challenge" (NYSERDA, 2020)
  • "Urban Green Council - The Retrofit Market Opportunity in New York City" (Urban Green Council, 2019)

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