Glenwood Administration has put in the primary carbon-capture system to be deployed in a high-rise constructing on the Grand Tier, a 30-story condo tower it owns at Broadway and 64th Avenue in Manhattan.
Glenwood introduced on Thursday that it plans to put in the system from startup CarbonQuest—which scrubs carbon dioxide from the exhaust of gas-fired boilers—throughout a 2.5M SF portfolio of NYC buildings in what the corporate says is the world’s first large-scale software of carbon-capture expertise in buildings.
CarbonQuest’s system on the Grand Tier deploys compressors and piping, situated close to the boilers within the 20-year-old constructing’s basement, which separate carbon dioxide within the flue exhaust from nitrogen and oxygen. In a multi-stage course of, the system liquefies the CO2 and shops it in a steel tank.
The startup, which calls the liquefied carbon “sustainable CO2,” is promoting the captured carbon dioxide from the condo constructing’s heating system to a masonry producer in Brooklyn who plans to “completely sequester” the CO2 by injecting it into concrete blocks.
Glenwood mentioned it should set up CarbonQuest’s expertise, which the startup has trademarked because the Constructing Carbon Seize System, in 5 of its buildings in NYC, together with The Fairmont at 300 East seventy fifth Avenue); The Bristol (300 East 56th Avenue); The Paramount Tower (240 East thirty ninth Avenue) The Barclay (1755 York Avenue) and The Somerset (1365 York Avenue).
In a launch, Glenwood mentioned the system will forestall hundreds of tons of CO2 emissions from its buildings, serving to the corporate adjust to NYC’s Native Regulation 97 (LL97), which goals to chop emissions from buildings within the metropolis by 40% by 2030 and 80% by 2050. In 2024, NYC will start penalizing constructing house owners and landlords who don’t act to cut back carbon emissions.
Glenwood mentioned its NYC buildings, primarily based on their present carbon emissions, would incur an estimated $7M in penalties between 2024 and 2029, and $15 million in penalties within the years starting from 2030 to 2034, below Native Regulation 97.
CarbonQuest’s carbon-capture system is predicted to cut back emissions at Glenwood’s portfolio properties sufficient to keep away from fines completely, the corporate mentioned.
Glenwood VP Joshua Landon advised Bloomberg that CarbonQuest’s system will minimize 25% of the Glenwood portfolio’s emissions. He indicated that the corporate views the system as a transition to a everlasting answer—full constructing electrification drawing electrical energy from renewable power sources.
Landon in contrast the carbon-capture system to a firetruck approaching a blaze with lower than a full tank of water, Bloomberg’s report mentioned.
Based on CarbonQuest, the carbon-scrubbing system represents about 20% of the capital funding to totally electrify constructing programs presently powered by fossil fuels. The corporate says the system is scalable and versatile sufficient to suit into most buildings.
One other pioneering answer to carbon emissions from buildings is taking form at Alloy Improvement’s 100 Flatbush mission in Brooklyn.
The brand new condo tower, now below development, might be totally electrified, powered by neighborhood solar energy installations with battery storage.
The City Inexperienced Council estimates that Native Regulation 97 will set off $20B in retrofits in NYC over the following decade as property house owners scramble to decrease emissions in additional than 50,000 buildings that presently emit an estimated 17 million tons of CO2 annual.
Based on the Actual Property Board of New York (REBNY), 3,786 buildings will face LL97 fines in 2024, a quantity that may develop to 13,544 in 2030.
Constructing house owners hoping to keep away from expensive retrofits by buying Renewable Vitality Credit (RECs) had a setback in November, when NYC officers indicated they’d shut what they referred to as a loophole in LL97 and restrict using RECs.
NYC officers are involved that the fast “grid decarbonization” that may happen over the following eight years in New York State might induce some NYC constructing house owners to keep away from carbon-reducing retrofits within the near-term by buying RECs.
NYC Comptroller Brad Lander has proposed to cap RECs to not more than 30% of a constructing’s electrical energy emissions above its restrict. Below NYC’s unique pointers for LL97 compliance, software of RECs was restricted to emissions generated by electrical energy, however no cap was specified.
