December 19, 2017
New York City’s city council has approved a bill that will require buildings to publicly display the energy use at their property in the form of a letter grade. Similar to health inspection grades, the energy efficiency grade will be from A-F and will need to be prominently displayed at the building entrance.
To read the full press release from the city council, click here.
The grades will come from EnergyStar’s Portfolio Manager via data that is self-submitted every year by each building for Local Law 84, the city’s energy benchmarking requirement.
This bill makes New York City the first City in the U.S. to require public display of energy grades, although a few places in Europe have already enacted similar legislation. It is seen as a win for energy efficiency, and the hope is that this bill will help push the needle on the city’s goal for 80% greenhouse gas reduction by 2050.
New York City To Require Buildings to Post Energy Grades
December 19, 2017 New York City’s city council has approved a bill that will require buildings to publicly display the energy use at their property in the form of a.
October 22, 2017
PJM Interconnection, the group that is responsible for operating and maintaining the grid that delivers wholesale electricity to 13 states and Washington, D.C., has announced over $1 billion in upgrade projects aimed at improving grid infrastructure on the east coast.
The plan includes 32 projects ranging from a few million dollars up to about $200 million, and they will begin to be implemented in the beginning of 2018. Click here to be directed to the PJM website for a detailed list of the individual projects.
A good number of projects include increasing the voltage of the grid to 69kV. Generally, these upgrades have long-term cost benefits to customers, as a higher voltage grid requires less infrastructure and is easier to maintain. However, the short-term costs could also directly affect customers. To discuss these potential impacts, please feel free to contact us.
PJM Invests $1B in Infrastructure Upgrades
October 22, 2017 PJM Interconnection, the group that is responsible for operating and maintaining the grid that delivers wholesale electricity to 13 states and Washington, D.C., has announced over $1.
Aug. 2, 2017
Tribeca Associates has converted its utility usage at 30 Broad Street in the Financial District to 100 percent Green-e certified wind power, making the 85-year-old building energy efficient.
Tribeca Associates purchased the property last year and immediately embarked on an extensive repositioning program.
While the use of green power and energy efficient building methods have become well-utilized in new commercial and residential construction, owners of older buildings have been slower to adopt such conversions, citing the costs associated.
“Converting to ‘green’ energy sources was an important consideration as we planned the redevelopment of 30 Broad, and the timing was perfect to launch this initiative,” said Bill Brodsky, a founder of Tribeca Associates.
“As individuals, businesses and governments become more environmentally conscious, increasing use of renewable energy will pave the way for a more sustainable future. In no place can we make more of an impact than in existing buildings and infrastructure, which use so much of the city’s power resources.”
Stanwich Energy Advisors co-ordinated the conversion for all landlord-purchased power, which included the procurement of energy certificates to accommodate the approximately seven million kilowatt hours 30 Broad consumes per year.
As part of the program, funds from each purchase are placed in renewable energy bonds in upstate New York to promote the growth of green energy usage in New York City.
“It’s a beautiful thing when you can do well by doing good,” said John O’Connell, managing principal at Stanwich Energy Advisors. “By entering into a green power contract, Tribeca Associates took advantage of a very favorable buying opportunity and set an example for all New Yorkers to follow. It was truly a privilege to work on behalf of a visionary property owner.”
In addition to renewable energy, 30 Broad has also initiated an LED lighting retrofit throughout the building’s common areas and will soon introduce lighting and temperature controls aimed at reducing power usage when it’s not needed.
All new office build-outs at 30 Broad are energy efficient, and the property recently launched a comprehensive recycling program to ensure all waste is properly discarded.
Stanwich Helps Tribeca Associates Go Green At 30 Broad
Aug. 2, 2017 Tribeca Associates has converted its utility usage at 30 Broad Street in the Financial District to 100 percent Green-e certified wind power, making the 85-year-old building energy.
July 25, 2017 Approximately 78 miles of World War II-era transmission will be rebuilt in northern New York as part of a $440 million project to spur renewable energy development and help the state meet its 50 by 30 goal (50% of carbon emissions free electricity by 2030).
The project is expected to begin in 2019 and will several years to complete. Announced on July 21, 2017, the newly rebuilt transmission line, called the Moses-Adirondack Smart Path Reliability project, will be capable of transmitting up to 345 kV but will be operated in the near term at its current level of 230 kV.
Cuomo, said in a recent statement that the reconstructed line will be able to carry hydropower from the New York Power Authority’s St. Lawrence-Franklin D. Roosevelt hydro plant as well as zero-free emissions electricity from newly built wind farms and solar projects in the state to higher population areas.
“This critical upgrade will help strengthen our clean energy economy in every corner of the state, and help New York reach its nation-leading clean energy standard,” Governor Cuomo said. “By investing in the long-term sustainability of our state’s energy infrastructure today, we are helping to ensure New Yorkers will have access to a cleaner, greener future for years to come.”
In 2012, the governor released the New York Energy Highway Blueprint, looking for an investment in transmission to assist the flow of clean energy across the state’s power grid and contribute to a stronger wholesale energy market.
Many environmental proponents support the project. “A robust transmission network is essential for New York ‘s efforts to scale up and deploy renewable energy ,” Rory Christian, director of New York clean energy at the Environmental Defense Fund, said. “This will increase opportunities to develop clean energy sources throughout the state, and connect the downstate region to existing affordable electricity generated in upstate New York .”
To read more about this announce, please visit the official announcement site by clicking here
If you have any questions on how this news may impact the New York energy markets, please contact us!
Cuomo announces large grid project in New York for renewables
July 25, 2017 Approximately 78 miles of World War II-era transmission will be rebuilt in northern New York as part of a $440 million project to spur renewable energy development.
June 2, 2017
With President Trump announcing that he will be pulling the United States out of the Paris Climate Agreement, we at Stanwich Energy Advisors think it is important for everyone to stay knowledgeable and conversational about the content of the agreement. Here are some key takeaways of the agreement, which was signed in December of 2015:
- All countries but Nicaragua and Syria (and now the United States of America) agreed that something needs to be done about climate change, and that it needs to be done quickly. The goal of the agreement is to hold the increase in the global average temperature to below 2°C above pre-industrial levels, with an aim at limiting that to an increase of only 1.5°C.
- Each country in the agreement sets their own greenhouse gas reduction targets. They acknowledged that those targets do not currently go far enough, but agreed to meet again in a few years to set better targets.
- The motivating factor for countries to meet their goals is that the agreement includes public reporting on which countries did and did not meet their reduction goals.
- In principle, but not in detail, they agreed that prosperous countries would financially help developing countries meet their reduction targets and grow their economies in ways that are not carbon-intensive.
During an announcement in the White House Rose Garden, Trump said he would withdraw the US from the deal and begin a process of negotiating a different deal. Trump said this could include re-entering the Paris deal if the US could renegotiate its commitments.
“It is time to exit the Paris accord and time to pursue a new deal that protects the environment, our companies, our citizens and our country,” Trump said. “The US is already leading the world in energy production and doesn’t need a bad deal that will harm American workers,” the White House said in a series of talking points distributed ahead of Trump’s comments. In a 25-minute speech, Trump said the climate deal “punishes” the US , “handicaps” the US economy, puts jobs at risk and benefits European and Asian trading
partners who will be allowed to expand their coal sectors as the US shutters its own. He added that the accord would do little to improve the environment. “We will be environmentally friendly, but we ‘re not going to put our businesses out of work, we ‘re not going to lose our jobs, we ‘re going to grow, we ‘re going to grow rapidly,” Trump said.
Trump also stated that he was willing to work with Democratic leaders to either negotiate the US “back into Paris under the terms that are fair to the United States and its workers or to negotiate a new deal that protects our country and its taxpayers.”
For a deeper dive into the agreement, please visit this extensive NYTimes article from December 12, 2015, or you can view the Paris Agreement document in its entirety by clicking here.
President Trump Pulls Out of Paris Climate Accord
June 2, 2017 With President Trump announcing that he will be pulling the United States out of the Paris Climate Agreement, we at Stanwich Energy Advisors think it is important.
May 31, 2017 On Tuesday, May 30th 2017, Exelon said the failure of power markets to properly value the beneﬁts of nuclear generation is one reason the company has decided to shut its Three Mile Island-1 nuclear unit in Pennsylvania. Exelon is expected to permanently shut the 890 MW unit in Middletown, Pennsylvania , “on or about September 30, 2019, absent needed policy reforms,” the company said in a statement Tuesday. Three Mile Island-2 permanently shut after a March 1979 accident caused a partial meltdown.
Before PJM’s capacity auction for the 2020-21 planning year, the results of which were announced last week, the company said it would decide by September whether to close TMI-1 if the unit did not clear, as it had not in the previous two years. TMI-1, and Exelon’s Quad Cities-1 and -2 in Illinois , did not clear the auction, the company said May 24. Generating units which do not clear the auction will not receive capacity payments in the future years; they can continue to provide power at that time, but are not obligated to do so and may, in fact, shut.
Exelon said in a letter Tuesday to regional transmission operator PJM Interconnection that TMI-1 “is unproﬁtable and has lost more than $300 million over the past ﬁve years despite being one of Exelon’s best-performing plants.” TMI-1, Exelon said in its letter, “is highly dependent on energy market prices that are at all-time low levels as a result of a number of factors, including market rules that do not value the clean, resilient electricity provided by nuclear energy. As PJM’s CEO has acknowledged, policymakers have ‘tried to politely ignore these things but they … are no longer ignorable.'”
Exelon President and CEO Chris Crane said in the company’s statement Tuesday: “Like New York and Illinois before it, the Commonwealth [of Pennsylvania ] has an opportunity to take a leadership role by implementing a policy solution to preserve its nuclear energy facilities and the clean, reliable energy and good-paying jobs they provide. We are committed to working with all stakeholders to secure Pennsylvania ‘s energy future, and will do all we can to support the community, the employees and their families during this difficult period.”
Under programs adopted in New York and Illinois last year, utilities and other load-serving entities selling power to customers in those states are required to purchase one zero-emission credit (ZEC) for each megawatt-hour sold up to a maximum quantity cap established under each state’s program.
The ZEC proceeds are distributed to eligible generators in those states for zero-emission megawatt-hours they produce to compensate them for the environmental beneﬁt of avoiding carbon emissions . Exelon had said it would be forced to close some of its economically challenged nuclear units in those states if those programs were not adopted.
Exelon Announces closure of Three Mile Island-1 in 2019
May 31, 2017 On Tuesday, May 30th 2017, Exelon said the failure of power markets to properly value the beneﬁts of nuclear generation is one reason the company has decided.