Bloom Energy to Install First Ever Highrise Fuel Cell at Morgan Stanley HQ

Morgan Stanley’s second project with Bloom Energy demonstrates how clean energy can be deployed in urban areas like Times Square

NEW YORK, Jan. 12, 2016 /PRNewswire/ — Morgan Stanley today announced that Bloom Energy will install a fuel cell system at the Firm’s global headquarters in New York City’s Times Square neighborhood.  The fuel cell project at 1585 Broadway is expected to be fully operational in late 2016 and will provide approximately 750 kW of 24×7 high quality power to the Morgan Stanley building, equal to approximately 6 million kWh of clean electricity each year.

Bloom Energy’s solid oxide fuel cell (SOFC) technology converts fuel into electricity through a high efficiency non-combustion process that generates clean and reliable on-site power, reducing emissions of greenhouse gasses compared to traditionally generated and transmitted electricity.

“Morgan Stanley is committed to investing in technologies that minimize our impact on the environment,” said Chief Operating OfficerJim Rosenthal.  “Following on the success of our fuel cell installation in Purchase, NY, this project further exemplifies how we can improve the sustainability and resiliency of our facilities, while controlling costs and being responsible to our business, our shareholders and our planet.”

“The recent Paris Climate Accord calls on government and business leaders to reimagine the way we power the world, and this project in the heart of Manhattan demonstrates how clean distributed energy can be deployed onsite, even in urban areas,” said KR Sridhar, principal co-founder and CEO of Bloom Energy.  “We applaud Morgan Stanley for their continued commitment to clean energy as well as Governor Cuomo’s administration and NYSERDA for their work to drive adoption of clean distributed generation.”

Support for this project was provided by the New York State Energy Research and Development Authority (NYSERDA) through a long-term renewable energy credit contract awarded under the Renewable Portfolio Standard (RPS) Main Tier Program to develop renewable energy projects.

“Partnerships between the State and private sector have made New York a global leader in reducing greenhouse gases and advancing clean energy solutions, and will continue to play a vital role in transforming our energy system,” said John B. Rhodes, President and CEO of NYSERDA said.  “This project is an example of how new and innovative technologies will help us achieve Governor Cuomo’s vision of an energy system that is cleaner, more resilient and more affordable for all New Yorkers.”

Bloom Energy currently has over 200 projects across the United States and in Japan, including ten operating projects in New York State.

About Bloom Energy
Bloom Energy is a provider of breakthrough solid oxide fuel cell technology generating clean, highly efficient onsite power from multiple fuel sources.  Founded in 2001 with a mission to make clean, reliable energy affordable for everyone in the world, Bloom Energy Servers are currently producing power for many Fortune 500 companies including Apple, Google, Wal-Mart, AT&T, eBay, Staples, The Coca-Cola Company, as well as notable non-profit organizations such as Caltech and Kaiser Permanente. Also, with its Mission Critical Systems practice, Bloom Energy provides grid-independent power for critical loads in data centers and manufacturing.  The company is headquartered in Sunnyvale, California.  For more information, visit www.bloomenergy.com.

About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services.  With offices in more than 43 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals.  For further information about Morgan Stanley, please visitwww.morganstanley.com.

SOURCE Bloom Energy


NY Farm Receives First Groundbreaking Clean Energy Financing from Energize NY!


YORKTOWN HEIGHTS, NY – Energy Improvement Corporation (EIC) today announced its completion of the first commercial Property Assessed Clean Energy (PACE) financing in New York State, a milestone for its Energize NY Finance program and its partners Orange County, the New York State Energy Research and Development Authority (“NYSERDA”), First Niagara Bank, N.A. and Bank of America Merrill Lynch. Energize NY Finance is New York’s new finance program for energy efficiency and renewable energy projects in existing buildings that are commercially owned.

Energize NY Finance offers low-cost, long-term financing for up to the full cost of energy improvements that reduce energy consumption or generate renewable energy. Unlike traditional financing, Energize NY’s PACE financing focuses on the project’s potential for energy savings and is repaid through an annual tax charge on the property (like water or sewer charges) over the term of the financing. If the property is sold, the energy savings and financing automatically transfers to the new owner.

Energize NY’s first PACE loan was used to fund a 53 kilowatt ground-mounted solar installation located in the fields of 5 Spoke Creamery Farm, a Mid-Hudson Valley artisanal cheese making facility in Goshen, NY known for its cave-aged raw milk cheeses. The solar panels, which were installed by Novel Approaches of Orange County, generated energy savings from day one and will replace 100 percent of 5 Spoke Creamery’s annual electricity costs.

“I am very proud that Orange County is the first county in our state to implement the Energize NY Finance program,” said Orange County Executive, Steve Neuhaus. “We joined EIC as the first member county because we recognized that EIC’s programs meaningfully contribute to our economic development and environmental conservation strategy. We are particularly pleased that new solar technology can benefit our agricultural businesses, like 5 Spoke Creamery, by reducing energy costs, improving resiliency and generating savings for re-investment,” said Neuhaus.

Barbara and Alan Glustoff, owners of 5 Spoke Creamery, moved their operations to Orange County from Pennsylvania, reversing a trend that had seen farming operations decline in Orange County. The solar project financed by Energize NY Finance offers numerous benefits to the Glustoffs’ business and the community. “We are excited to be able to substantially reduce our electricity costs and benefit the environment at the same time,” said Alan Glustoff. “Everything on this farm affects the quality of our cheese and reflects our commitment to sustainable agriculture,” explained Glustoff. “Going solar is important to the whole picture, and the electric savings will go to expanding our business,” he added. “Orange County Planning directed us to their Energize NY Finance program to help get the balance of funding we needed to make this project happen, ” said Barbara Glustoff. “Going through the Energize NY Finance program was pretty simple and straightforward and the energy savings will have more than paid for the financed amount by 2020,” she said.

Energize NY Finance is one of several programs offered by EIC, a local development corporation owned by municipalities throughout NY State who have made a commitment to improve the energy performance of local building stock. With 16 members and many others planning to join, EIC works with its members, like Orange County, to transform the market for comprehensive clean energy projects by integrating Energize NY programs with local economic development and community-based sustainability efforts driven by local leadership.

EIC also has worked closely with NYSERDA, both prior to and since its launch in New York, to accelerate demand for clean energy upgrades to existing building stock. NY Green Bank, a division of NYSERDA, provided a letter of credit which first enabled EIC to offer the commercial PACE financing platform throughout New York. This partnership expands affordable and accessible clean energy project financing to all of New York State for commercial, industrial, agricultural and multi-family buildings to help them become more cost effective by decreasing energy costs.

“Energize NY is just the kind of initiative NY Green Bank is targeting as we continue to build a vibrant private sector market providing clean energy solutions to benefit communities and customers,” said Alfred Griffin, NY Green Bank President. “Programs like Energize NY are, and will continue to be, essential to Governor Cuomo’s comprehensive energy strategy – Reforming the Energy Vision, or “REV” – which will ultimately deliver a cleaner, more reliable, and affordable energy system for all New Yorkers.”

First Niagara Bank provided EIC with a line of capital to provide financing to property owners, part of which was used to fund the 5 Spoke solar project. EIC also issued its first long-term take-out financing to Bank of America Merrill Lynch in connection with the 5 Spoke solar project. BofA Merrill Lynch has agreed to provide up to $75 million in financing to EIC, which will be used by Energize NY Finance to finance additional clean energy projects. “We are excited to be able to deploy such deep sources of project capital in partnership with First Niagara and Bank of America Merrill Lynch for energy improvement projects in our member municipalities,” said Mark Thielking, EIC’s Executive Director. “Over time, as most of NY State’s municipalities join EIC, we look forward to leveraging the Energize NY Finance platform to upgrade every eligible property in order to reduce energy waste, generate local jobs and create a competitive building stock for sustainable economic growth,” he said.

Energy Improvement Corporation (EIC), www.EnergizeNY.org, is a New York State not-forprofit local development corporation that works with its member municipalities across NY State to reduce energy waste and create multiple renewable energy sources through community-based marketing and outreach and by providing affordable and accessible project financing. EIC drives demand for clean energy upgrades to existing buildings through its programs – Energize NY Finance, Energize NY Residential, Energize NY Commercial and Solarize Westchester.

The New York Solar PV Guide

Solar power is on the rise across New York, where it has grown an average of 44.28% annually in the last three years. According to the latest solar jobs census from the Solar Foundation, the solar industry employed more than 5,000 people in New York in 2013. Significantly, New York ranks fifth in the nation for statewide solar job creation.

New York will continue its prodigious growth with the NY-Sun initiative which has committed $1 billion in funding for solar projects. The newly launched Solarize campaigns bring together widespread community outreach and education, competitive installer selection, and a limited-time offer to bring more customers to solar and provide significant cost savings. Community Solar NY will support these campaigns by providing marketing materials, technical assistance and funding and by sharing best practices to help community projects succeed.

With the highest electric rates in the nation, lower costs and new funding – NOW is the best time ever for New Yorkers to invest in solar!

Building Owners: Boost Your Bottom Line with NYSERDA & Con Ed Incentives!

Manage your energy consumption and reduce your operating costs with even greater incentives from NYSERDA and Con Edison. These greatly enhanced incentives will generate substantial ROIs for savvy NYC & Westchester buildings owners who take advantage of the program.

Con Edison electric customers are eligible for these new incentives on technologies like energy storage, LED lighting or other energy improvements that helps manage energy use and permanently reduce demand.

Hurry before these incentives expire or funds are exhausted!

Clean Power Financing Support from the NY Green Bank

By Yiqing Zhao

Great news for clean energy, renewable energy and energy efficiency projects: NY Green Bank is here to help financing, firmly supported by NYSERDA.

Open for business since last February, the state-sponsored fund NY Green bank is a division of NYSERDA. As New York’s very own energy expert, NYSERDA promotes technological innovation in building efficiency and envisions a clean energy future.

NY Green Bank’s mission is to advance and expand clean energy (including energy efficiency and renewables) from a financing perspective, in a self-sustaining manner. Currently, the biggest obstacles that prohibit most great projects from fruition are their inaccessibility to financing in the traditional market. Among them, many small & medium-size businesses don’t stand a chance for getting financed.

This is about to change by the NY Green Bank:

Hence, “the Green Bank is in the business of partnering with other lending and other capital market institutions, other financial actors, such as insurance companies or banks and getting them into the business by partnering with them and saying look, we can show you how this work,” explained John Rhodes, NYSERDA President and CEO. When fully capitalized, NY Green Bank expects to have $1 billion on the balance sheet and a projection of $8 billion of additional private sector investment in clean energy projects over the next ten years.

Market-focused and market-responsive, NY Green Bank provides financial support including credit enhancement (such as loan loss reserves and loan building), project aggregation, wholesale leveraging on lowering interest rate, and securitization amidst its pushing for various benign public-private partnerships.

Having been open for only a short time, NY Green Bank “already have seven deals ready to go that are going to commit most of [their] initial capitalization across a range of projects for clean energy, renewable energy and energy efficiency across the state and leveraging upwards of $600 million from those financial service partners,” said Rhodes.

NY Green Bank is starting to tremendously benefit efficiency-minded building owners and clean energy/efficiency/renewable contractors. With a mission to accelerate clean energy deployment in New York State by working in partnership with the private sector to transform financing markets, it’s time to learn to work with them.

Demand Response – Get Paid to Use Less Energy by Con Edison & NYISO

Con Edison’s demand response programs pay over 800 participating customers who are able to temporarily reduce electric usage when requested by Con Edison. Con Edison has demand response programs available to commercial, industrial and residential customers. A participating customer can possibly earn up to $50,000 over a three year period for every 100 kW of load relief provided.

Customers can enroll in the 2 Hour or Less Notification Program (Distribution Load Relief Program) and upon request reduce their electric usage to help maintain system reliability in their communities.

Customers can enroll in the 21 Hour Notification Program (Commercial System Relief Program) and upon request provide load relief for Con Edison on the hottest days.

For more information on the programs, continue to the Demand Response Details page.

Free technology to manage your energy use

Our Customer Care for Energy Management website provides customers with energy and load analysis data and allows you to create reports to help you better understand your unique usage patterns and manage your energy cost.

Eligibility & Requirements

  • Participants must have a communicating Billing Interval Meter. Click here for the application.
  • Customers may be eligible to participate in both programs simultaneously.

Apply Now

For full program rules, read through Riders U (DLRP) and S (CSRP) of our tariff. Enrollments will be accepted up to April 1st for a May 1st start date and up to May 1st for a June 1st start date.

We encourage you to apply through an Aggregator. If you are able to reduce 50 kW or more, you can also apply directly with Con Edison.

To participate directly with Con Edison complete and submit the Demand Response Programs Application and Enrollment File. Applications as well as any questions you may have can be submitted to DR@ConEd.com.

NYSERDA is Expanding its Solar Hot Water Program Statewide

Hello Local Energy, Bye Old Power Industry, Say NY Regulators with Key Vote

New York, where the power industry began over a century ago, might be where it ends too. At least the power industry as we know it today.

The state’s electric regulators made that clear February 26 when they took a key vote creating an electricity marketplace that elevates new, local energy over big central power plants and long transmission lines.

The New York Public Service Commission approved the framework for its  Reforming the Energy Vision, or REV, a dramatic reworking of roles in the electricity business. Customers, innovators and competitive companies gain new stature, while utilities act as a more subservient platform for the new offerings.

The decision opens the door wide for disruptive energy technologies, such as microgrids, energy efficiency, solar, electric vehicles, energy storage and demand response.

Audrey Zibelman, the PSC chair who is widely credited for the new direction, described REV as a way to make the grid “more nimble, flexible and accommodating” for the new technologies.

She expects the new paradigm to increase system efficiency, lower costs, reduce emissions, increase system reliability and make the grid less vulnerable to attack.

New York is one of the first states to create such sweeping regulation, which lets consumers, businesses and communities gain control over their energy supply. As a result, the proceeding has attracted national attention over the last year as the commission formulated the plan.

About 300 local and national players weighed in and the commission received more than 1,000 written comments, most supporting the industry shift.

“It’s been overwhelming seeing the engagement,” Zibelman said, during Thursday’s commission meeting.

The Framework

The new distributed energy marketplace will operate on what New York calls a distributed system platform (DSP). This is both a “market maker and system coordinator,” according to the commission’s written decision.

The DSP plays a role somewhat akin to an independent system operator for wholesale markets. The DSP will plan, balance markets, oversee auctions and offer price transparency.

By way of example, the commission said products that use the platform might include microgrids, community solar, storage, fixed commodity pricing, demand response, energy efficiency programs and contracts for distributed energy maintenance and operations.

The DSP also will provide, or sell, a set of products and services of its own for those that use the platform. The products might include transaction or usage fees, platform access, analytic services, interconnection services, pricing and billing, metering information services and data sharing and maintenance, operation, and financing.

Why the Big Changes

A whole host of industry shifts led New York to create REV. Among them was the realization that the grid cannot efficiently meet today’s demand.

Because of economic changes and increased use of air conditioning, costly system peaks keep occurring. The state typically needs only about 18,000 MW. But to meet system peaks just a few hours a year, it must maintain 26,000 MW of capacity, Zibelman said.

By just operating more efficiently and reducing peak demand, the system could spare customers $1.5 to $2 billion per year, she said.

Further, the state’s power grid is aging, and it will cost a tremendous amount of money for New York to rebuild — about $30 billion over the next decade, almost double the investment of the last decade.

At the same time demand is slowing, meaning electricity sales are down. This creates a smaller base from which the electric industry can collect money for the new infrastructure. The bottom line is that rates will go up, if the state simply continues with business as usual.

local energy

“If we can manage the demand, manage the peak, we can avoid that investment,” Zibelman said.

Praise and Concerns

The REV concept has received widespread praise from companies promoting disruptive energy tech, energy entrepreneurs, investors, environmentalists and other stakeholders.

“There is so much potential, it is extraordinary,” said Mike Gordon, CEO of Joule Assets, which offers financing for energy efficiency and demand response. “The opportunity for private companies, for towns and villages, for government entities, it is just so rich. And the opportunity for consumers is so powerful.”

Kit Kennedy, director of the energy & transportation program at the Natural Resources Defense Council, described REV asa bold step toward creating a cleaner and more efficient electric grid in New York state.”

“The decision paves the way to ramp up clean energy and energy efficiency, put more clean vehicles on the road, and make our electric grid more reliable than ever. On top of that, it will help lower energy bills for consumers, especially for low-income New Yorkers who need it most,” Kennedy said.

A key worry, however, has been that even as New York makes these changes, utilities will use their market clout to squash the many new competitors expected to emerge.

Anticipating this issue, the state set up rules to keep utility dominance in check. REV places limits on utility market plays. To own or develop distributed energy resources, a utility must prove that its investment:

  • Meets needs that the competitive market has been unable to fill
  • Includes energy storage integrated into the utility distribution system
  • Helps low or moderate income residential customers to benefit from distributed energy where markets cannot do so, or
  • Serves demonstration purposes

Joule Assets’ Gordon said he believes the competitive market will ramp up quickly, taking away the need for utilities to provide even these services.

What’s Next

The REV changes aren’t going to happen overnight, but will occur over several steps likely to take years.

With the REV framework now in place, the New York commission will move onto what it calls Track II in the REV proceeding. Track II will focus on the financial nitty-gritty: changes in how utilities are paid for their services — now that they will operate differently. The key is to avoid what is referred to as the “utility death spiral,” the financial degradation of a utility as it loses conventional customers.

Zibel said that REV spares utility financial harm because it gives them a new role managing the distributed platform.  And bulk power — large central power plants — do not go away; their role is simply no longer as dominant. Management and exchange will be needed between the two sides of the system: wholesale power and distributed energy. So utilities also will act as interface with the state’s grid operator, the New York ISO,

As a next step, utilities must solicit and develop demonstration projects that fit the REV framework. Projects are due to the commission by July 15.

By May 15 utilities  must identify potential non-wire alternatives for their systems.

And by December 15, they must file DSP implementation plans that include interconnection improvements.

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via Hello Local Energy, Bye Old Power Industry, Say New York Regulators with Key Vote – Energy Efficiency Markets.