Microsoft and Jeff Bezos are backing this start-up that aims to retrofit millions of old buildings with ‘green’ energy

In a four-story apartment building in Brooklyn, New York, a small company is implementing a very big idea: Electrify every building in the United States by leasing landlords the necessary equipment to make the transition.

More than 1,200 buildings in New York City have been renovated by the start-up, which has similar projects in two dozen other cities. Green heating and cooling systems, electric appliances, and solar panels are available on a lease-to-own platform. The equipment is installed and managed. Monthly payments are made by landlords to cover the costs and give returns to investors.

The company says it has reduced building energy costs by 30% to 50% and greenhouse gas emissions by 40% to 70%. It says it can reduce US greenhouse gases by 25% in 10 years and recover up to 30% of the millions of dollars in wasted energy.

I know what's inside these buildings. The investment opportunity is something I can see as a CEO.

We are going to decrease the amount of oil and gas and fossil fuels that these buildings consume.

In the basement of the Brooklyn building, Baird found 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299 888-353-1299

We look at this and we say that it's a great opportunity to save the planet and make a little bit of money by focusing on what's down here.

After enough money has been taken in to pay back investors and for BlocPower to collect its fees, the ownership of the equipment is transferred to the building owner.

The company is behind a plan to be completely net zero by the year 2030. It starts with the city's building stock.

The city of Ithaca realized that this is possible when they started working on the program. It is about showing that it is possible.

The reality is that if you work in climate change, you are always thinking about ways in which you can actually make a difference.

The early backers of BlocPower were Exelon, Goldman Sachs Urban Investment, Kapor Capital, and the Schmidt Family Foundation. In January, it got a big debt injection from Microsoft, bringing its funding to about $100 billion. A $5 million grant from the Bezos Earth Fund will allow it to map 125 million buildings across America and give them a free plan for how to become sustainable.

Several cities in California, New York, Massachusetts and Georgia are currently in negotiations with the company to decarbonize.