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Solar Thermal in New York City: Opportunities + Challenges

Solar Thermal in New York City: Opportunities + Challenges

Full Title:  Solar Thermal in New York City: Opportunities + Challenges
Author(s): N/A
Publisher(s): New York City Economic Development Corporation
Publication Date: June 1, 2013
Full Text: Download Resource
Description (excerpt):

 

In New York City, over 30% of a building’s energy consumption is used to provide space heating and hot water. This demand is largely met by fuel oil- and natural gas-powered boilers; nearly 96% of New York City buildings use these fuels for heating, but at a significant economic and environmental cost. New Yorkers spend more than $15 billion on energy each year, paying among the highest energy prices in the nation. Building energy use accounts for approximately 75% of New York City’s greenhouse gas emissions.1 Solar thermal technology provides a renewable, emissions-free and cost-efficient alternative to fossil fuel-based space and water heating.

In spite of the opportunity, the industry has seen slow growth with few solar thermal systems installed in New York City. A few key barriers limiting growth include a lack of financial incentives and financing options and limited awareness of the technology, its reliability, performance and value. The New York City Economic Development Corporation (NYCEDC) sought to address these barriers and explore the potential for solar thermal technology as a driver of economic growth in New York City’s clean technology and energy sector. In 2009, NYCEDC launched the Solar Thermal Pilot Program to study the performance, determine the potential and identify key next steps to scale deployment of solar thermal technologies in New York City.

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