Blog

Embodied Carbon: The Next Frontier in Building Decarbonization – and Why It Matters for Geothermal Systems

Brightcore Energy — Wed, 23 Apr 2025 19:57:13 GMT

American Society of Mechanical Engineers Highlights Innovative Geothermal Engineering Solutions

Brightcore Energy — Wed, 09 Apr 2025 19:55:21 GMT

Brightcore Energy Brings Geothermal Innovation to D.C.’s Barry Farm Redevelopment

Brightcore Energy — Mon, 31 Mar 2025 19:52:32 GMT

Local Law 97 in 2025: What NYC Building Owners Need to Know

Brightcore Energy — Mon, 03 Mar 2025 15:23:18 GMT

With Local Law 97 (LL97) enforcement officially beginning in 2025, the time for planning is over—building owners and developers must take action now. The regulation, part of New York City’s Climate Mobilization Act, sets strict carbon emissions caps for buildings over 25,000 square feet, making it one of the most ambitious building decarbonization laws in the country.

Brightcore Energy and Luminace Announce Development of New Community Solar Projects

Brightcore Energy — Wed, 20 Nov 2024 14:00:00 GMT

Construction of a 6.6-megawatt portfolio of projects to bring clean energy to local NJ communities

Armonk, NY, and New York, NY, November 20, 2024 – Brightcore Energy, a leader in developing and implementing renewable energy solutions for the commercial and institutional market, and Luminace, one of the largest decarbonization-as-a-service providers in North America, jointly announced a new community solar project portfolio to be installed on eight commercial rooftops in New Jersey.

“We are thrilled to collaborate with Luminace to bring this project portfolio online,” stated Mike Richter, President of Brightcore Energy. “Beyond increasing the availability of clean, renewable energy, community solar offers the additional advantage of making this energy source accessible to commercial and residential customers who might not otherwise be able to utilize clean energy due to the suitability of their home or facility for solar installations.”

“Luminace is pleased to add the Brightcore Energy team to our strategic channel partnership network this year and simultaneously announce the closing of our first portfolio of projects together,” stated Brendon Quinlivan, CEO of Luminace. “Serving our mutual C&I and community solar customers with solutions that are catered to meet their decarbonization goals is a key priority for Luminace. These latest New Jersey projects highlight the current market opportunity available for C&I landlords looking to enable sustainable economic value from their real estate assets.”

The 6.6 megawatt (DC) community solar portfolio will be constructed on the rooftops of eight commercial properties located in Fairfield and Montville municipalities in New Jersey. Once operational, the projects

are expected to generate nearly 8 MWh of clean, sustainable electricity annually. According to U.S. Environmental Protection Agency estimates, this is equivalent to eliminating 5,553 metric tons of CO2 from being emitted into the atmosphere or avoiding burning more than 6,000,000 pounds of coal or nearly 13,000 barrels of oil. These projects are expected also to provide clean energy benefits to over 600 low-to-moderate income New Jersey households via bill credits applied to their monthly utility bill, enabling significant subscriber utility bill savings during the term of their agreements.

About Luminace

Luminace is one of the largest fully integrated decarbonization-as-a-service providers in North America, sponsoring accessible, reliable and renewable energy infrastructure to empower the zero-emissions future. Luminace serves more than 10,000 customers in the educational, commercial, industrial, utility and municipal sectors and has over 1,500 megawatts of distributed energy resources spanning 29 states, Washington, D.C., Puerto Rico, and Canada. Our offerings include on- and off-site solar, energy storage and electric mobility solutions. Luminace is a portfolio company of Brookfield, which operates one of the world’s largest publicly traded platforms for renewable power and sustainable solutions. Further information is available at www.luminace.com.

About Brightcore Energy

Brightcore Energy, LLC, based in Armonk NY, is a leading provider of integrated, end-to-end clean energy solutions to the commercial, institutional, and government markets. Services include high-efficiency heating and cooling systems (geothermal) for both new construction and existing building retrofits, commercial-grade solar, LED lighting and controls, energy storage, smart building solutions, and other emerging technologies. Brightcore’s turnkey, single-point solution encompasses all project development phases, including preliminary modeling, feasibility & design, incentive & policy guidance, construction & implementation, and system performance monitoring. Visit www.BrightcoreEnergy.com to learn more.

Contacts

Brightcore Energy LLC
Michael Tracy
914-719-6027

michael.tracy@brightcoreenergy.com

Bancroft
Michael Muñoz
714-465-4894
michael.munoz@luminace.com

How a New Administration Could Reshape the Inflation Reduction Act and Clean Energy Investments

Brightcore Energy — Wed, 30 Oct 2024 14:17:47 GMT

Since the Inflation Reduction Act (IRA) was passed in 2022, there have already been 42 votes to repeal it. This comes as no surprise, given that the law is a comprehensive and multifaceted piece of legislation addressing healthcare costs, tax reform, and a significant commitment to clean energy. One of the most frequent questions we receive as a clean energy service provider is, "Is my project's funding secure under the IRA?" In the context of a potential change in political leadership, this concern becomes even more pronounced. While a full repeal seems unlikely, some changes could still be on the horizon.

What is the IRA?

The IRA is a major legislative initiative aimed at reducing inflation, lowering healthcare costs, reforming corporate taxation, and investing heavily in climate solutions. With a $369 billion allocation for renewable energy and climate-related initiatives, the IRA is reshaping the landscape for clean energy. The law extends tax credits, supports green infrastructure, and introduces incentives like the Investment Tax Credit (ITC) and Production Tax Credit (PTC) for renewable projects such as solar, geothermal, and wind.

To date, the impact of the IRA has been significant. According to Forbes, more than 300,000 jobs have been created so far, with a projection of 1.4 million jobs by 2030 (Forbes). Additionally, the U.S. Department of Energy (DOE) projects that the GDP will increase by $230 billion more than previously estimated due to the IRA's clean energy initiatives (DOE).

What Changes Could a New Administration Bring to the IRA?

A shift in political leadership could result in alterations or funding reductions for certain aspects of the IRA. For example, future leadership could reduce the scope of the ITC and PTC or modify the eligibility criteria for tax credits. Although the IRA has widespread support from industries benefiting from its incentives, changes are possible if other budgetary priorities take precedence.

In the event of a partial repeal, several steps would need to take place before any changes are enacted. First, new legislation must be proposed to amend or repeal parts of the IRA. This legislation would need to pass both the House of Representatives and the Senate before receiving presidential approval. Should moderate opposition or negotiations be required in Congress, any partial repeal would likely take 9–18 months.

Could the IRA Survive an Administration Shift?

While changes in administration could introduce revisions to the IRA, a full repeal is unlikely. The IRA’s benefits, including job creation and economic growth from the clean energy sector, offer some degree of protection. For instance, 18 Republican members of Congress signed a statement opposing the Act's repeal due to its positive impact on job creation and investment (The Hill).

An analysis from Columbia Threadneedle Investments notes, "Since the introduction of the IRA, investment announcements have increased by 60% to more than $114 billion. Most of these investments are for battery manufacturing and are concentrated in Republican and/or swing states." This highlights the broad economic benefits of the IRA across different political landscapes (Columbia Threadneedle Investments).

Source: Bloomberg NEF. March 2024.

While the likelihood of a full repeal remains slim, future administrations could still make adjustments, such as scaling back tax credits, reducing funding, or altering the focus of energy investments. These potential shifts make it essential for stakeholders to stay informed.

Preparing for the Future: What Should You Do?

As a business owner with sustainability goals or mandates, it's essential to stay informed and understand that while your funding is likely secure for now, the landscape may shift in the not-too-distant future. Preparing for potential changes while taking advantage of existing IRA incentives is the best approach to future-proof your projects

Contact Brightcore today to explore your options and learn how to maximize the benefits of clean energy incentives under the IRA.

Brightcore Energy LLC and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only. Please consult your own tax, legal and accounting advisors before engaging in any transaction.

Citations

Budryk, Zack. "18 Hourse Republicans ask Johnson not to target IRA clean energy tax credits."The Hill, 2024.

Columbia Threadneedle Investments. "Will the Inflation Reduction Act Be Repealed?" Columbia Threadneedle US, 2024.https://www.columbiathreadneedleus.com/institutional/insights/latest-insights/us-elections-will-the-inflation-reduction-act-be-repealed/details?id=5852cff2-2203-45b9-85f0-15e732a4cc7b

Department of Energy (DOE). Clean Energy Jobs and Economic Impact Projections, 2023.

Forbes. "More Than 300,000 Jobs Created Through IRA Initiatives." Forbes, 2024.

Brightcore Energy's Award-Winning Geothermal Project at The Beresford Recognized by ENR NY 2024

Kaia Szulewski — Mon, 21 Oct 2024 13:00:00 GMT

Brightcore Energy's innovative geothermal project at The Beresford Cooperative in New York City has earned a prestigious spot on Engineering News-Record's (ENR) NY 2024 Best Projects list. This recognition by one of the most respected publications in the construction and engineering industries showcases the pioneering efforts that went into integrating geothermal heating and cooling technology into one of the city’s most iconic residential buildings.

Exploring the Toughest Building Energy Initiatives Across the U.S.

Brightcore Energy — Mon, 07 Oct 2024 13:30:00 GMT

As the race toward carbon neutrality accelerates, cities across the U.S. are leading the charge with aggressive energy policies and innovative building standards. A recent audit by the American Council for an Energy-Efficient Economy (ACEEE) shines a spotlight on these efforts, evaluating how cities tackle energy efficiency through key components like:

Community-Wide Initiatives
Building Policies
Transportation Policies
Community Energy Infrastructure
Local Government Operations

According to ACEEE, these metrics not only reflect policy best practices but also address social equity and the growing need for cities to reduce greenhouse gas emissions. While all of these metrics are essential for understanding a city's approach to sustainability, we’ve chosen to focus on two key areas—building policies and community energy infrastructure—as they are most relevant to our clients in the building decarbonization space. These categories specifically highlight the clean energy initiatives and progressive policies that help push cities toward carbon neutrality, directly impacting the future of energy-efficient buildings.

How the rankings work

U.S. Power Grid Increasingly Turns to Geothermal Ground Source Heat Pumps to Mitigate Summer Spikes

Kaia Szulewski — Wed, 17 Jul 2024 17:51:43 GMT

In what is projected to be the hottest recorded summer in the United States, the U.S. power grid faces significant challenges in meeting the exponentially escalating demand for electricity. As temperatures increase, so does energy demand, often leading to spikes and increasing the risk of outages. One technology that has been around for decades in Europe that is gaining attention in the States is ground-source heat pumps. While originally seen as overly complex and expensive, new technologies and incentive programs are turning the tide.

Meeting LL97 Compliance Requirements With Brightcore

Brightcore Energy — Mon, 29 Apr 2024 19:26:38 GMT

When Local Law 97 (LL97) was passed in 2019, as part of Mayor de Blasio’s Green New Deal to reduce the emissions of New York City’s buildings, its directives may have seemed like something to tackle in the future. However, with the first compliance period of LL97 starting this year and the first reports due one year from now, it’s time to take action to assess, track, and reduce emissions to remain compliant.

Getting Started

The city has provided resources to determine if your building is required to participate, and when you confirm your properties must comply with LL97, the city “strongly encourages you to hire an energy consultant to develop recommendations that meet your specific needs.”

Brightcore Energy provides the expertise you need and works with you as a partner to meet LL97 requirements. With years of experience helping New York City property owners understand and reduce their emissions, Brightcore develops, implements, funds, and maintains end-to-end energy efficiency and renewable energy solutions for building owners and developers.

Tracking Deadlines

The May 1st, 2025 is when the first compliance report is due for most covered buildings, including multifamily buildings with 35% or greater rent-regulated units and houses of worship. Though that report is due one year from now, it must capture greenhouse gas emissions (GHG) and compliance efforts for 2024, which means now is the time to get started to get the baseline from which you are working and demonstrate the steps to reduce future emissions.

While some properties may be able to apply for adjustments (the deadlines of which have been extended through 2024), most building owners need to get their compliance plan underway today. This may seem daunting but Brightcore can help you get the decarbonization plan for your properties to demonstrate your efforts and plans to reach 2030 compliance goals.

Celebrating Successes vs. Facing Fines

A fiscal advantage to getting started now is that your company can take steps to meet compliance goals and celebrate reductions as milestones vs. preparing to pay the steep fines awaiting those who don’t comply. Penalties will be in place for both buildings that don’t meet compliance goals and don’t report on building energy usage. In initial city notices, fines abound with penalties being “an amount equal to the gross floor area of such building, multiplied by $0.50, for each month such report is not submitted within the 12 months following May 1 of each year, including the 60 days following the deadline.” There will be fines for exceeding emission limits and penalties subject to being “recovered in a proceeding before the Office of Administrative Trials and Hearings (OATH).” Failure to file and failure to comply with energy compliant building requirements and failure to demonstrate energy conservation will make an owner “liable for a civil penalty of $10,000 per covered building” for each infraction.

From a brand perspective, celebrate and communicate efforts to reduce carbon emissions to attract occupants demanding green spaces. From a business perspective, get started today to save on future energy costs and steep penalties.

Discover how Brightcore can help you track greenhouse gas emissions, plan to reduce them, and prepare timely reports. Contact us today to learn more.

Brightcore.

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