As a model for commercial real estate owners to adopt energy efficiency measures, we partnered with Madison International Realty, a leading global real estate private equity firm, to reduce energy consumption and increase value at one of its most significant assets, Atlantic Terminal Mall in Brooklyn. Our work together leveraged the New York State Energy Research and Development Authority’s (NYSERDA) progressive Real Time Energy Management (RTEM) program.
Contact us now to take advantage of the 30% cost-share NYSERDA is offering for your New York building’s efficiency program.
NYSERDA originally launched the RTEM program in 2016. It was then expanded again in 2017. Today, the total pool for projects sits at $42 million, with only $12 million of the fund distributed, leaving ample opportunity and funding for additional projects in the coming years. Under the program, landlords are afforded a 30% cost-share, over five years, to deploy RTEM solutions from approved vendors like Carbon Lighthouse. With the program’s support, we’ll help commercial real estate owners and operators tackle the nearly 70% of total carbon emissions produced by buildings in New York City.
Helping owners profit from NYSERDA RTEM
As part of Madison’s revitalization of the Atlantic Terminal Mall, Carbon Lighthouse was engaged to deliver energy efficiency enhancements that would convert the property’s energy waste into guaranteed financial returns. Through this partnership, Atlantic Terminal and neighboring Atlantic Center will eliminate more than 7,600 tons of carbon emissions, equivalent to planting a new Central Park every year for the next 10 years.
“This property is the most significant in the Madison New York retail portfolio and the epicenter of life in Brooklyn. It is important that Atlantic Terminal be ground-breaking in its approach to carbon emissions and lead the way for others in the industry,” said Evan Walke, Madison International Realty portfolio manager. “Our partnership with Carbon Lighthouse reinforces our dedication to sustainability and energy efficiency at this prime property. The RTEM project is not only environmentally beneficial, it is also profitable.”
Why we’re better at energy efficiency in commercial buildings
To date, NYSERDA has qualified an estimated 75 vendors, but only 50% of those vendors are actively delivering project applications. Within this group, there are a wide range of approaches to energy and building management systems, but Carbon Lighthouse is the only firm on this list—and in the wider industry—that can guarantee clients increased net operating income (NOI) from 10-30% whole building energy savings while working within their lease structures.
While other service providers in the program can deliver maintenance, software dashboards, or equipment replacement, we remain the only firm with a financial deliverable—and that increased NOI translates directly to profit. We’re able to guarantee this financial value – backstopped by Munich Re – due to our patented technology, CLUES®, which gives us a method for modeling building energy consumption based on parameters that can be quickly and cost-effectively measured and that do not rely on inaccurate estimates of building characteristics. We’re able to take on the complexity and variability of building equipment and quickly handle the custom configurations we encounter at each new property we enter.
In short, our business model extends the full use of our technology, allowing us to guarantee money as a contract deliverable, and this makes us very compelling and effective to a wide range of clients.