- Commercial buildings in the United States consume 35% of all electricity in the country while accounting for 16% of emissions in the country. Buildings, in general, account for over 60% of emissions, with large business centers responsible for as much as 70%
- With 80% of building stock that will be standing in 2050 already built, the only remaining solution is to retrofit these buildings with renewable energy sources to meet the 2050 net zero targets
- Correlate is looking to meet this demand and solve the challenges associated with it by offering a more cost-effective approach with its finance program
- It prides itself on its transparency and fair pricing, which, its management argues, are enablers of green energy adoption within different sectors, including the real estate industry
- By laying down, the groundwork for the energy transition, Correlate is carving out a decent market share in the North American market and is growing its customer numbers, as evidenced by its $100 million opportunity pipeline in commercial projects and $20 million in awarded backlog
It is estimated that over 60% of carbon emissions within cities in the United States come from buildings, and some of the large business centers account for as much as 70%. With 80% of building stock that will be standing in 2050 already built, the only remaining solution to this growing issue is retrofitting these buildings with renewable energy sources, mainly since new buildings and construction alone will not get society to the 2050 net zero targets (https://ibn.fm/tFlFj).
Correlate Infrastructure Partners (OTCQB: CIPI), a portfolio-scale real estate platform, recognizes the problem at hand and the challenges associated with making existing buildings achieve their net-zero targets. With its focus on renewable energy, specifically solar, the company is offering a more cost-effective approach towards reducing buildings’ and companies’ carbon footprint while also allowing them to be self-sustaining from an energy standpoint.
According to the Office of Energy Efficiency and Renewable Energy, commercial buildings in the United States consume 13.6 quads of electricity, equivalent to 35% of all the electricity consumed in the country. In addition, they generate as much as 826 million metric tons of carbon dioxide emissions, or 16% of all emissions in the country. This makes decarbonizing and electrifying the built environment vital to achieving the net zero carbon goal (https://ibn.fm/hfSxJ).
With 2050 closing in, retrofitting rates will need to exceed 3% per year to achieve the set targets, and Correlate is looking to satisfy that need. Most buildings are opting for solar power installation, mainly because of their affordability, given the 89% drop in the cost of solar power components over the past ten years (https://ibn.fm/MnAnW). However, even with the price decline, the upfront cost associated with retrofitting entire buildings is hefty for real estate owners, posing a significant challenge with renewable energy adoption and reducing a building’s overall carbon footprint.
Correlate recognizes this issue, and through its finance platform, it offers commercial and industrial facilities access to clean electrification solutions, ranging from locally-sited solar, energy storage, and even electric vehicle (“EV”) infrastructure and intelligent efficiency measures. In addition, the company prides itself on its transparency and fair pricing, which, its management argues, are enablers of green energy adoption within different sectors, including, but not limited to, the real estate industry.
With 2050 closing in, building owners, investors, and occupiers are urged to transition to renewable energy soon. While mandatory regulations are set to ramp up during the second half of the decade (2025-2030) as the climate emergency intensifies, these parties are encouraged not to wait for regulations to kick in before making the transition.
Correlate is laying down the groundwork for this changeover and setting up systems and infrastructure geared toward making retrofitting as easy, affordable, and seamless as possible. By doing so, it is carving out a substantial market share within the North American market. It is also growing its customer numbers, evidenced by its $100 million opportunity pipeline in commercial projects and $20 million in awarded backlog.
For more information, visit the company’s website at www.CorrelateInfra.com, including the following:
- Breaking Down Barriers To Your ESG Goals While Generating Additional Net Operating Income: www.CorrelateInfra.com/our-process
- Platform Generates New Rent And Operating Income, Allowing You To Meet Your ESG Goals: www.CorrelateInfra.com/program
NOTE TO INVESTORS: The latest news and updates relating to CIPI are available in the company’s newsroom at https://ibn.fm/CIPI
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