NEW YORK, October 23, 2014 – FS Energy, the energy management and advisory subsidiary of leading property management firm FirstService Residential, has been named a finalist in the RISE : NYC competition which recognizes innovative projects and technologies that will bolster the city’s buildings and infrastructure against future storms. FS Energy, which provides exclusive energy evaluations and efficiency improvement solutions to multi-family buildings within the FirstService Residential management portfolio, is a lead applicant on three projects in the finals and a partner on two more.
Stemming from the impact Hurricane Sandy had on small businesses, RISE : NYC is a $30 million competition created by the New York City Economic Development Corporation that encourages the development and deployment of demonstrable improvements to a building or infrastructure network’s resiliency in withstanding or recovering from utility service interruptions, storm surges, flooding or other storm-related events. The competition has garnered more than 200 entries from 20 countries.
FS Energy is an experienced applicant, successfully piloting patented energy management programs for the 500-plus buildings comprising FirstService Residential’s New York portfolio. Through the RISE competition, FS Energy was able to showcase its enhanced energy infrastructure capabilities with cost-effective solutions that provide emergency power for electronics and telecommunications networks in the event of grid failure.
“When Hurricane Sandy hit, it affected many of the properties we manage at FirstService Residential, compelling us to think outside the box to explore how we could better protect our buildings and keep them operational in the face of natural disasters,” said Dan Wurtzel, president of FirstService Residential New York. “While the RISE competition focuses on innovations for small businesses, the projects for which FS Energy is a finalist can also be deployed as effective resiliency measures for the condominiums, cooperatives and rental properties in our portfolio.”
“Being chosen as a finalist in this competition validates FS Energy’s proven efforts to create solutions that can help strengthen New York City’s infrastructure,” added Aaron Mehta, Director of Energy Information for FS Energy.
FS Energy is a finalist on the following three projects:
Architectural Grille Microgid: FS Energy, Smarter Grid Solutions, UGE and ThinkEco teamed up to develop a microgrid that includes wind and solar generation, battery storage, and a monitoring solution to reduce energy costs and generate revenue by selling energy back to the grid.
Staten Island Solar: FS Energy, OnForce Solar, and the Steven L. Newman Real Estate Institute have partnered to install solar panels and advanced inverters at multiple small businesses on Staten Island to provide emergency power for electronics and telecommunication equipment in the event of grid failure.
Battery Storage: The FS Energy and SolarCity battery storage project combines energy storage and power electronics for an easy-to-install system that smoothes out electricity spikes, reduces energy demand charges, generates revenue, and runs critical systems off-grid in case of future storm outages.
Finalists will be evaluated on cost-reasonableness, originality, innovativeness, and potential to increase New York City’s resiliency over the long term. Winners will be announced in late 2014 and will be awarded a portion of the $30 million funding pool to underwrite their project.