Laws capping building emissions could be gold for proptech
Donnel Baird, CEO of Bloc Power in Brooklyn, agrees. His five-year-old company connects investors, governments and utilities to sustainability projects in opportunity-zone neighborhoods, and buildings pay back the investment through the cost savings that come with greater energy efficiency.
The carbon credits, he said, “can reward tenants and building owners for good behavior.”
His company already is benefiting from the new law. As part of pilot programs that helped the city test the retrofit portion of the legislation, Bloc Power retrofitted 500 multifamily buildings in low-income neighborhoods starting in 2017. He has since been asked to do similar projects in Oakland, Calif., and Philadelphia.
Baird also has raised venture money for a new software platform that will include installation of low-cost smart sensors to track building-operations performance.
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