BlocPower: Crowdsourced Microfinance for Energy Efficiency in Underserved Communities

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BlocPower: Crowdsourced Microfinance for Energy Efficiency in Underserved Communities

Lead Performer: BlocPower – New York, NY
Partners:
- New York State Energy Research and Development Authority – Albany, NY
- Emerald Cities Collaborative-NY – New York, NY
- Orrick, Herrington, & Sutcliffe – New York, NY
- Open Society Foundations – New York, NY
DOE Total Funding: $2,086,173
Cost Share: $3,649,400
Project Term: October 1, 2013 – September 30, 2014
Funding Opportunity: Commercial Energy Efficiency Solutions (Small Commercial Buildings) 2013 CBI FOA DE-FOA-0000829

PROJECT OBJECTIVE

BlocPower will develop a crowd-sourcing website to help market, finance, and install energy efficiency retrofits for 1,500 small buildings including churches, schools, small businesses, and nonprofits in low-income communities across the country. As part of an initial pilot program, the project will target small building retrofits in New York City, potentially expanding to Boston, Massachusetts; Cleveland, Ohio; Raleigh-Durham, North Carolina; and Baltimore, Maryland. BlocPower will also partner with companies in these areas to train local residents in small building retrofits.

PROJECT IMPACT

The project will market, audit, and finance energy efficiency retrofits in 1,000 sub-50k square foot properties in financially underserved communities. BlocPower will also facilitate the hiring of well-trained, hard to employ, low-income workers on projects. In addition, the project will develop an online platform to connect impact investors to energy efficiency project investment opportunities.

CONTACTS

DOE Technology Manager: Priya Swamy
Lead Performer: Donnel Baird, BlocPower

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