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Sustainable development

Empire Building Challenge: A $50 Million Initiative to Transform Existing Buildings

Strategic Insights

— 2 min read

New York State has taken a significant step in reducing greenhouse gas emissions with the launch of the Empire Building Challenge, a $50 million initiative aimed at transforming existing multifamily and commercial high-rise buildings into sustainable and energy-efficient hubs. Governor Andrew M. Cuomo's nation-leading clean energy and climate agenda calls for an 85 percent reduction in greenhouse gas emissions by 2050, and this challenge is a crucial step in achieving that goal. The initiative will attract best-in-class manufacturers, solution providers, and entrepreneurs from around the world to help build the green economy in New York State and provide successful low-carbon demonstrations that set the standard for the next decade of real estate investment in energy efficiency, sustainability, and healthy indoor environments.

Key Takeaways:

  • The Empire Building Challenge is a $50 million initiative to transform existing multifamily and commercial high-rise buildings into sustainable and energy-efficient hubs.
  • The initiative aims to reduce greenhouse gas emissions by 45 percent through the use of heating and cooling solutions that increase the comfort, sustainability, and energy performance of buildings.
  • The challenge will seek commitments from building owners to carbon neutrality and will make available up to $50 million through three phases of deployment.
  • Phase one and two will offer $27 million for building owners and large commercial office tenants to submit an eligibility request to partner with NYSERDA on the Empire Building Challenge.
  • Phase three will offer $10 million for qualifying proposers to replicate the solutions and models demonstrated in phases 1 and 2, and scale the approach to address the needs of a diverse set of buildings by 2025.
  • The Empire Building Challenge will result in significant learning, with new solutions being evaluated in the field, findings being shared broadly, and case studies being produced.
  • NYSERDA will also launch a $10 million Empire Technology Prize to accelerate the development of low carbon solutions.
  • The challenge will prioritize partnerships with affordable housing owners and will address critical innovation gaps in the clean energy market for decarbonizing high-rise buildings.

Statistics:

  • 45 percent of greenhouse gas emissions in New York State come from buildings.
  • 20 billion could be the retrofit market opportunity in New York City by 2030, creating over 100,000 jobs by 2030.
  • Up to $50 million will be made available through three phases of deployment.
  • 27 million will be allocated in phase one and two for building owners to partner with NYSERDA on the Empire Building Challenge.
  • 10 million will be allocated in phase three for qualifying proposers to replicate and scale the approach to address the needs of a diverse set of buildings by 2025.
  • 6.8 billion is being invested by New York State to decarbonize buildings across the state.
  • 9,000 megawatts of offshore wind will be developed by 2035.
  • 1,800 percent growth has been seen in the distributed solar sector since 2011.

Sources:

  • New York State Energy Research and Development Authority
  • Urban Green Council (2019 analysis)
  • New York State's Nation-Leading Climate Plan
  • Climate Leadership and Community Protection Act (CLCPA)
  • New York State's website (http://nyserda.ny.gov/EBC)

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