NY’s Empire State Building Adopts Sustainable Practices

January 28, 2011 / Russell Legato, Residential Property Analyst

New York’s Empire State Building is getting in the “green” side as it adopts sustainable practices to reduce its energy consumption. The Empire building is an architectural icon in New York City, but now its has become an icon in promoting sustainable practices and saved almost $20 million in energy costs after two years of cutting the building’s energy usage by 38 percent through using renewable energy.

NY’s Empire State Building Adopts Sustainable Practices

To further promote the building’s sustainable practices, Empire’s property manager recently signed a two- year contract to purchase all its electricity needs to a company that provides renewable energy only.

The contract covers approximately 55 million kW·hrs of wind power annually, which can result to a reduction of about 45 million kilos of the building’s carbon dioxide emissions.

According to the company managing the Empire State Building, Malkin Holdings, the power supplier— Green Mountain Energy Co provides clean energy and bids the lowest compared to other power provider— as a result Empire does not need to pay a premium for its electricity.

Green Mountain’s chief executive, Paul Thomas said, Empire’s deal with Green Mountain demonstrates that the company can provide clean energy, which can promote sustainable practices, at an affordable price regardless of the size of the commercial customers.

Thomas also added that using sustainable practices does not have to be a trade- off.

Green Mountain said the transaction with Empire is the largest renewable power deal to date.

Costs for the “clean” energy have gone down in recent years, particularly with the infusion of United States government incentives for renewable energy and sustainable practices.

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