BlocPower, a Brooklyn-based clean energy business, is providing eco-friendly electric heating and cooling systems to older buildings. They are targeting lower-income areas with the aim of reducing the bill and the carbon footprint.
According to CNN Business, BlocPower is backed by Goldman Sachs’ Investment Group and Microsoft Climate Innovation Fund. The company’s goal is to give smart electric technology for heating, cooling, and hot water systems that will lower the bills between 20% to 40% per year. “We turn buildings into Teslas,” CEO Donnel Baird told CNN. “Just like Tesla rips the fossil fuel engines out of vehicles and replaces that with smart, modern, all electric engines, we now can rip all of the fossil fuel equipment out of our homes and schools and buildings and replace it with smart, modern, all electric, healthy equipment that’s good for the planet and good for our families.”
The company is replacing dated equipment with heat pump systems, which lowers each building’s environmental footprint. So far, they’ve completed over 1,200 buildings and are making plans for 125 million buildings across the US.