According to Bloomberg News, the renewable energy sector has been thriving after breaking new records in 2015. Clean energy investment is now seeing twice as much global funding as fossil fuels. Additionally, government subsidies have helped wind and solar get a foothold in global power markets, and economies of scale are major drivers of falling prices. The cost of solar power has fallen to 1/150th of its level in the 1970s, while the total amount of installed solar panels has soared 115,000-fold.
Rising sea levels, droughts, and more frequent and devastating natural disasters have created a sense of urgency here in New York around the need to reduce our carbon footprint. Like many other states and municipalities, our government is investing substantial public resources in emerging technology, renewable energy and resiliency planning. The desire to protect New Yorkers and lead the charge on climate change will continue to be motivating factors that protect long-term investment in resilience and cleantech.
New doors will continue to open for innovative private sector firms in New York in the foreseeable future. The State recently released the Zero-Emission Vehicle (ZEV) and Infrastructure Municipal Rebate Program, providing up to $3 million from the New York State’s Environmental Protection Fund (EPF). In New York City, Mayor de Blasio has set out to reduce greenhouse gas emissions by 80 percent by 2050, providing significant opportunity for the private sector. The One City: Built to Last-Transforming New York City’s Buildings for a Low Carbon Future plan alone lays out a 10-year roadmap to improve the energy efficiency of the City’s buildings and investing $1 billion to retrofit more than 3,000 City-owned properties.
The City and State will continue to invest in clean technology focused on the real estate, transportation, energy and waste industries. At Capalino+Company we are regularly working with our clients to identify and pursue both private and public sector opportunities in the clean-tech space.
Most recently, our team worked alongside SJM Partners to develop a winning plan to revitalize the George Washington Bridge Bus Station in upper Manhattan.
The new station will include a modern, ADA compliant, fully enclosed, air conditioned passenger pavilion and a reconfigured bus concourse, all directly accessible from the street and subway levels. Making regional public transportation more desirable and efficient is a clear example of how public-private partnerships can work to reduce greenhouse gas emissions.
To learn more about these opportunities contact Tom Gray at email@example.com or 212-616-5819.
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