Tecogen Scores Another NYC Win
When award-winning architect Seymour R. Joseph, designed Glenn Gardens, a 266-unit residential building on Manhattan’s Upper West Side, back in 1976, he likely didn’t anticipate the energy-related challenges and opportunities that the building’s owners and its residents would experience in the 21st century. With electricity prices on the rise and gas prices remaining steady, and even declining, opportunities have emerged to take advantage of the benefits of Tecogen’s (TGEN – $4.75) cogeneration products.
Now, 40 years since this elegant building was erected, both residents and building owners will benefit from the power behind Tecogen’s most recent product innovation—the InVerde e+ Combined Heat and Power (CHP) cogeneration system.
For residents it’s all about comfort and reliability. They want a pleasing environment with the right temperature, and they never want to be left in the dark, even in the case of an emergency or general blackout. That’s exactly what the two Tecogen e+ 100kW CHP systems that were part of this sale will take care of.
For the building’s owners, an added benefit is cutting operating expenses… significantly. The two InVerde units will save the customer between $100,000 and $200,000 annually.
“The capabilities of the InVerde e+ are really resonating with the multi-unit residential community, especially those focused on emergency standby power and cost control initiatives,” said Benjamin Locke, Tecogen’s co-Chief Executive Officer.
This will represent the first CHP units to be installed in the building. Replacing old boilers, the units will cover all of the building’s thermal needs as well as most of its electric need.
The Glenn Gardens CHP systems will be installed over the course of this year. Maintenance of the units by Tecogen is also included in the contract.
Tecogen Outperforms in New York
The Glenn Gardens order is the most recent of a series of Tecogen contract wins in the New York City area. Others include:
- Three InVerde 100 kW units to a multi-family residential building in the Coney Island section of Brooklyn, NY (August 2016);
- Two CM-75 kW units for a 454-unit multi-family residential building in Yonkers, NY (July 2016);
- A state-of-the-art InVerde e+ 100 kW unit for a 14-story student housing building near Central Park in New York City, NY (July 2016);
- Three CM-75 kW CHP units for three different schools in and around New York and New Jersey (July 2016); and
- An InVerde e+ 100 kW machine for Silver Towers, a luxury 277-unit residential building in Queens, New York (June 2016).
This level of activity in New York is mainly driven by one of the highest spark spreads in the United States. The spark spread is the ratio between the price charged for electricity and the price charged for the fuel used to generate that electricity—which, in Tecogen’s case—is natural gas. New York’s electricity rates are high and its natural gas rates are low, making it an optimum market for the introduction of CHP, particularly in large facilities like multi-housing units, hospitals, schools and more.
In addition, the availability of government incentives and strict emissions regulations add to the growing interest and demand in Tecogen’s clean energy products. The InVerde e+ comes fitted with Tecogen’s patented Ultera emissions control technology, making it the only natural gas powered CHP product on the market to nearly eliminate harmful criteria pollutants that contribute to smog—especially important in large, metro areas like New York City.
Tecogen’s technology leverages the latest in energy efficiency design with results unmatched by other competing providers. InVerde e+’s electrical efficiency is 7.5 percent greater than prior models and even 15 percent greater than the competition.
Money is also saved through the recovery of free waste heat from the electric generator which can be used in climate control and to provide hot water, cutting a building’s energy bills in half while also reducing sites’ carbon footprints. As a result of the equipment’s superior efficiency over the utility grid, each InVerde e+ saves 378 tons of carbon dioxide annually – the equivalent of removing 72 cars from the road or planting 15,729 trees.
This is only the latest, but surely not the last, installation for Tecogen’s environmentally and pocket-book friendly products in the New York market as interest, and positive word-of-mouth, continues to spread. Buy recommendation.
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