Energy Decarbonization Fund Commits $200 million for NYC businesses to reach Local Law 97 Goals

Delavan, Wisconsin – Onsite Utility Services Capital launches dedicated fund for businesses to meet the Local Law 97 carbon reductions

OUS Capital ( ) The goal is to reduce the emissions produced by the city’s largest buildings 40 percent by 2030 and 80 percent by 2050. New York City enacted Local Law 97 to drive deep emissions cuts from buildings, which are responsible for more than two-thirds of NYC’s greenhouse gas. But this has created a battle over a company’s use of capital between decarbonization and growing their company.

Fritz Kreiss (Onsite’s CEO) commented “Decarbonization is important but is the capital within a company even available to meet the Local Law 97. We realize a company’s use of their capital is usually spent on growing the company and revenues and not for carbon reduction and reducing expenses, so we are launching Energy Decarbonization-as-a-Service to save energy and reduce the carbon footprint for facilities in NYC. Removing the CapEx barrier means more facilities can achieve their carbon and energy saving goals while retaining their capital for the company. Buildings are very capital intensive but often capital is not available to invest in energy saving and carbon reduction projects. Onsite Utility Services Energy Decarbonization Fund allows us to install energy savings systems and remove the CapEx and the debt barrier while giving our client energy savings and carbon reduction from day 1. The Energy-as-a-Service platform includes all maintenance for the systems as well. The benefits and implementation are engineered based on the buildings energy usage and local utility rates and tariffs to optimize savings.”

Fritz Kreiss added, “Contact Onsite to develop a plan to reduce your carbon footprint, comply with LL 97 and keep your capital focused on your main operation. We have multiple trenches of capital available to deploy through our EnergySavings-as-a-Service.”

Written by OUS

January 8, 2024

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