{"id":1004161081,"date":"2016-12-08T13:16:48","date_gmt":"2016-12-08T21:16:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004161081"},"modified":"2022-12-08T07:12:01","modified_gmt":"2022-12-08T15:12:01","slug":"nyceec-finances-energy-storage-for-a-low-income-housing-microgrid-in-brooklyn","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nyceec-finances-energy-storage-for-a-low-income-housing-microgrid-in-brooklyn\/","title":{"rendered":"NYCEEC Finances Energy Storage for a Low-Income Housing Microgrid in Brooklyn"},"content":{"rendered":"

By Anca Gagiuc<\/em><\/p>\n

\"Marcus<\/a>

Marcus Garvey Apartments<\/p><\/div>\n

New York<\/strong>\u2014The New York City Energy Efficiency Corp. made a 10-year project loan of more than $1 million to Demand Energy to bring large-scale battery storage technology to a privately-owned low-income housing development in Brooklyn, NY. The project will be the first battery storage microgrid installation at a low-income property in greater New York.<\/p>\n

L+M Development Partners\u2019 Marcus Garvey Apartments, a 625-unit community located in the Brownsville section of Brooklyn, already has 400 kilowatts of solar and will add 400 kilowatts of fuel-cell generating capacity as part of an extensive property renovation. Demand Energy\u2019s lithium-ion battery system will be used to store the power generated onsite during the lower-cost off-peak Con Edison power, thus reducing power demand when electricity is at its highest cost. The energy storage and distributed energy resources will be integrated into a microgrid managed by Demand Energy\u2019s DEN.OSTM <\/sup>software platform. The system will cut power expenses, help keep the grid reliable and provide off-grid backup power for emergencies.<\/p>\n

\"Marcus<\/a>

Marcus Garvey Apartments<\/p><\/div>\n

New York-based GridMarket worked closely with Demand Energy to successfully present the project to L+M. \u201cThis is an innovative project with tremendous benefit to the customer, the community, and a constrained electric grid. Demand Energy expertly navigated technical and financial complexities to win the deal through GridMarket\u2019s marketplace, creating a blueprint for future installations,\u201d GridMarket CEO Nick Davis said in a prepared statement.<\/p>\n

“Managing on-site generation and extracting value from the demand response market have made battery storage a smart, cost-effective choice,” Brian Asparro, chief commercial officer for Demand Energy, said in prepared remarks. “This software-controlled microgrid is exactly what building owners and Con Edison are looking to implement. NYCEEC’s innovative approach\u2014non-recourse debt financing\u2014made it possible.”<\/p>\n

“Energy storage closes the loop with energy efficiency and clean, localized generation, and helps encourage their adoption,” added\u00a0Posie Constable, NYCEEC’s head of business development. “That’s why NYCEEC has designed a loan product to encourage energy storage projects.”<\/p>\n

Con Edison\u2019s efforts in New York City are in consonance with the state\u2019s Reforming the Energy Vision (REV) Initiative, aimed at creating a cleaner, more affordable, modern and efficient energy system that seamlessly includes distributed energy resources such as rooftop solar, combined heat and power, energy efficiency and energy storage.<\/p>\n

Images courtesy of EcoSense<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The loan marks a new line of business for NYCEEC as the efficiency and clean energy organization enters the energy storage market.<\/p>\n","protected":false},"author":237,"featured_media":1004161085,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,1600,21742,10,21786],"tags":[33075],"class_list":["post-1004161081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-new-york","category-latest","category-northeast","category-sustainability","tag-new-york-city-energy-efficiency-corporation"],"acf":[],"yoast_head":"\nNYCEEC Finances Energy Storage for a Low-Income Housing Microgrid in Brooklyn - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/nyceec-finances-energy-storage-for-a-low-income-housing-microgrid-in-brooklyn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NYCEEC Finances Energy Storage for a Low-Income Housing Microgrid in Brooklyn\" \/>\n<meta property=\"og:description\" content=\"The loan marks a new line of business for NYCEEC as the efficiency and clean energy organization enters the energy storage market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nyceec-finances-energy-storage-for-a-low-income-housing-microgrid-in-brooklyn\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-12-08T21:16:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T15:12:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Marcus-Garvey-Apartments.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1334\" \/>\n\t<meta property=\"og:image:height\" content=\"1001\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nyceec-finances-energy-storage-for-a-low-income-housing-microgrid-in-brooklyn\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/nyceec-finances-energy-storage-for-a-low-income-housing-microgrid-in-brooklyn\/\",\"name\":\"NYCEEC Finances Energy Storage for a Low-Income Housing Microgrid in Brooklyn - 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