The New York Building Solar Project takes into account the solar needs of the community
Rendering for community solar project (Image: PRNewsfoto/Empire State Realty Trust Inc.)
Empire State Realty Trust (ESRT) has released plans for a community solar project on its Harrison, NY office lot, which will be generated by the project and will be allocated to the ongoing cost of powering the Westchester office building. The remainder of the credits are available to local residents to share in the benefits of the solar project, which include electricity cost savings. The project, which is scheduled to be completed at no cost to ESRT, will include a new parking roof solar array that will provide basic year-round protection for around 500 vehicles, an 8.2 MWh battery storage system and around 80 electric vehicle (EV) charging stations. for tenant comfort.
“Companies look to ESRT to help them achieve key sustainability goals that attract and retain employees who value environmental leadership and action,” said Anthony E. Malkin, ESRT chairman, president and CEO. “This project helps ESRT achieve our sustainability goals, contributes renewable energy to our community, will help attract tenants, and benefits our shareholders.”
ESRT will work with PowerFlex, an on-site renewable energy solution provider, to complete this project. PowerFlex is a subsidiary of EDF Renewables North America. This project was part of NYSERDA’s NY-Sun program, which supports the affordability and growth of solar energy implementation across the state.
“Renters of 500 Mamaroneck have an opportunity to achieve their goals simply by renting the building,” said Dana Robbins Schneider, senior vice president of sustainability, energy and ESG at ESRT. “The property is now uniquely positioned to meet some of real estate’s most ambitious ESG goals, enhance the tenant experience and unlock an innovative new source of cash flow. This community solar and storage project at 500 Mamaroneck will cost ESRT no 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 electric vehicle (EV) charging stations ensures a reliable power supply for stable operations and the ability to support increased demand for electric vehicles at no additional cost to tenants.
“We are excited to be working with ESRT to deliver a comprehensive energy solution that encompasses multiple low-carbon energy technologies,” added Raphael Declercq, EVP of Onsite Solutions and Strategy at EDF Renewables North America. “By combining solar, storage and charging solutions for electric vehicles, ESRT demonstrates its strong commitment to sustainability with a holistic and forward-thinking perspective. Furthermore, ESRT not only increases its own resilience, but also shares the financial and environmental benefits of renewable energy with its surroundings through community solar energy.”