Trane New York / New Jersey
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TIAA-CREF
New York, NY, Sep 14, 2010
Rooftop Thermal Storage Solution Improves Energy Efficiency, Earns $219,000 in New York State Energy Research and Development Authority Incentives
TIAA-CREF, one of the largest institutional real estate investors in the United States, will be recognized by Trane for energy efficiency initiatives, including a rooftop thermal storage solution at the company’s headquarters in midtown Manhattan that is anticipated to save $765,000 annually in energy and operating costs. TIAA-CREF also will receive $219,000 from the New York State Energy Research and Development Authority (NYSERDA) to help support installation of this energy-efficient technology.
“We believe that energy efficiency can help to improve returns and reduce our corporate impact on the environment,” said Jeff Meaney, senior vice president, corporate services, TIAA-CREF. “The thermal ice storage solution we are now using to cool our 730 Third Avenue headquarters, also part of our real estate investment portfolio, is a perfect example of the types of accretive capital improvements we seek to maintain high-quality facilities for our employees and clients.”
The system both conserves energy and reduces costs because off-peak electricity is less expensive and the most efficient power plants run during off-peak hours. Furthermore, similar systems have been found to improve the reliability of the electrical grid because they shift peak cooling loads from periods of high-demand to low-demand. Power sourced overnight is more likely to be “clean,” derived from nuclear or hydroelectric plants, rather than from coal-fired plants, which make up most daytime, on-demand energy.
TIAA-CREF will receive the Trane “Energy Efficiency Leader in Commercial Real Estate Award” for its sustainable energy and operational efficiency improvements, as demonstrated by the installation of the rooftop thermal storage solution at their headquarters.
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Details of the award presentation:
- Dave Regnery, president of the Trane, Hussmann and Thermo King businesses in North America, will present the award to Jeff Meaney, senior vice president, corporate services, TIAA-CREF
- The awards presentation will be at 10 a.m. on Sept. 16, 730 Third Ave., New York
Commitment to Sustainability
The U.S. Environmental Protection Agency honored TIAA-CREF with the 2010 ENERGY STAR Sustained Excellence award for outstanding energy management and reductions in greenhouse gas emissions, citing the company’s progress in improving energy efficiency. This follows two consecutive years, 2008 and 2009, that TIAA-CREF was honored with the ENERGY STAR Partner of the Year designation.
Infrastructure Upgrades at TIAA-CREF Manhattan Headquarters – 2
Customized Energy Conservation Measures Prior to selecting these energy conservation measures, TIAA-CREF asked the energy services group at Trane to conduct an energy analysis of their headquarters.
Based on Trane’s results, TIAA-CREF selected a chilled water system for ice production during off-peak hours and a 30-tank thermal storage system, which provides 6,000 ton hours of thermal storage. The system shifts peak cooling loads to off-peak periods by producing ice at night that provides cooling the next day during peak hours.
TIAA-CREF leaders also directed the addition of a two-megawatt emergency generator and a new heat rejection solution for the building’s critical systems. These systems provide enhanced redundancy for the building’s crucial areas, including the trading floors and the data center.
To meet the challenge of maximizing the use of high-demand Manhattan real estate, the chilled water/central plant thermal storage system is positioned 28 stories above street level at the organization’s 730 Third Avenue headquarters in New York City using an innovative steel structure added to the rooftop.
All systems were installed while the building was fully occupied in order to ensure continued productivity.
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