Rendering for group solar mission (Image: PRNewsfoto/Empire State Realty Trust Inc.)
Empire State Realty Trust (ESRT) has shared plans for a group solar mission at their workplace property in Harrison, N.Y. The property enchancment will function a brand new income supply, contracted for the following 25 years, with roughly 40% of the financial credit generated by the mission allotted in direction of the continued price to power the Westchester workplace constructing. The remainder of the credit will likely be obtainable to native residents to share within the solar mission’s advantages, which embrace electrical energy price financial savings.
To be accomplished for gratis to ESRT, the mission will function a brand new parking cover solar array that may present year-round elemental shelter for roughly 500 automobiles, an 8.2 MWh battery storage system, and roughly 80 EV charging stations for tenant comfort.
“Companies look to ESRT to help them achieve critical sustainability goals which attract and retain employees who value environmental leadership and action,” states Anthony E. Malkin, ESRT’s chairman, president and CEO. “This project helps ESRT meet our sustainability objectives, contributes renewable power to our community, will help to attract tenants, and benefit our shareholders.”
ESRT will accomplice with PowerFlex, a supplier of onsite renewable energy options, to finish this mission. PowerFlex is a subsidiary of EDF Renewables North America. This mission was part of NYSERDA’s NY-Sun Program, which helps the affordability and development of solar energy implementation throughout the state.
“Tenants of 500 Mamaroneck have a leg up to achieve their goals simply through their tenancy in the building,” says Dana Robbins Schneider, ESRT’s senior vp of sustainability, energy and ESG. “The property is now uniquely positioned to reach some of real estate’s most aggressive ESG targets, to improve the tenant experience, and to generate an innovative new source of cash flow. This community solar and storage project at 500 Mamaroneck will cost ESRT zero capital investment, generate stable, positive free cash flow over a 25-year period, and improve 500’s competitive position.”
The inclusion of battery storage and EV charging stations ensures dependable power for resilient service and the power to assist the elevated demand of EV transportation at no extra price to tenants.
“We are excited to work with ESRT to provide a comprehensive energy solution that incorporates multiple low-carbon energy technologies,” provides Raphael Declercq, EVP of onsite options and technique for EDF Renewables North America. “By combining solar, storage and EV charging solutions, ESRT demonstrates its strong commitment to sustainability with a holistic and forward-looking view. Additionally, ESRT not only increases its own resiliency, but also shares the financial and environmental benefits of renewable energy with its surrounding area through community solar.”