A Brooklyn-based startup is retrofitting 1,200 old buildings in New York City with green energy. BlocPower, the startup funded by Jeff Bezos and other top investors, came up with groundbreaking solutions to “green” already existing homes. The company will lease clean energy heating and cooling systems, solar panels, and electric appliances. After 10 to 15 years of leasing, once BlocPower has earned enough money from the equipment to pay back investors, the company will transfer ownership to landlords. This project aims to not only reduce fossil fuel emissions but save building owners money by reducing energy costs by 30 to 50 percent. And best yet, this solution may soon expand to other cities, with the Bezos Earth Fund granting BlocPower $5 million to digitally map out 125 million buildings across the U.S. to apply similar sustainable retrofitting.
