Deal Spotlight
Marcus Garvey Apartments
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0
Annual cost savings
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kW
Average reduction in peak demand
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%
Reduction in peak demand
The Building: Marcus Garvey Apartments
Building type
Affordable Multifamily
Building size
100 buildings
616,700 square feet
625 units
Year built
1974
Location
Brooklyn, NY
Project type
Energy storage
NYCEEC loan product
ESA
Term
10 years
Closing date
December 2016
The Project
Demand Energy, a leading energy storage company in NYC, was looking to expand into new markets. They opened conversations with L+M Development Partners, a developer/ owner of low-income housing, regarding a 300kW lithium ion battery system to take full advantage of solar and fuel-cell energy generation at the Marcus Garvey Apartments, a large housing complex in Brooklyn, within the geographic boundary of the grid constrained Brooklyn-Queens Demand Management (BQDM) area.
Total project cost
$1.3 M
NYCEEC loan
$1.2 M
Annual savings
$26,268
Simple payback period
10 years
The Results
Marcus Garvey is the first battery storage micro-grid installation at a low-income property in greater New York. Projections indicate that battery storage will lower operating costs at the Marcus Garvey Apartments, along with aiding Con Edison in meeting peak energy demand and providing emergency back-up power. This helps cut power expenses, help grid reliability, and provide off-grid backup power for emergencies.