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Five multifamily properties in New York City will experiment with a new technology that is expected to curb carbon emissions.
Glenwood Management will use CarbonQuest’s carbon-capture system to convert flue exhaust into liquid CO2. The byproduct, called Sustainable CO2, will be stored in bulk tanks and sold to concrete aggregate manufacturers.
The technology is expected to prevent 5,000 tons of total emissions per year across the five properties. It could also help property owners avoid drastic emissions penalties. New York City’s Local Law 97 will leverage fines based on a building’s CO2 output in starting in 2024.
“Based on its current carbon usage, Glenwood’s properties would incur around $7 million in penalties between 2024 and 2029, rising to $15 million between 2030 and 2034,” EnergyTech reports.
Carbon-capture technology is an innovative way to decarbonize and may help property owners maintain the use of efficient gas appliances such as tankless water heaters, boilers, and furnaces. Light commercial carbon-capture systems are one of many the clean-energy projects The Propane Education & Research Council plans to research and invest in as the industry charts a path to net zero.
“We’re constantly scouting for new opportunities to take advantage of propane’s environmental benefits –– its low carbon intensity, its low criteria emissions profile, its portability, and more –– and apply them to critical areas of the clean energy transition,” said Dr. Gokul Vishwanathan, PERC’s director of research and sustainability.
