FirstService Residential NY Headquarters Extends Green Electricity Commitment to 2021

10 Jan 2019

FirstService Residential—the largest property management firm in North America—announced that its New York City regional office has entered into an agreement to purchase 100-percent clean energy for its New York City headquarters through 2021. The firm’s initial commitment began in 2016, and with this three-year extension, FirstService is reaffirming its commitment to the cause of renewable energy.

FirstService Residential’s three-floor office at 622 Third Avenue in Manhattan uses approximately 700,000 kilowatt hours (kwh) of energy annually. The clean energy conversion was accomplished by the purchase of RECs (Renewable Energy Certificates) through 3-Degrees Inc. Renewable energy credits are frequently used as an alternative green electricity solution for properties that are unable to install efficient solar or wind generation systems on site.

This achievement is the latest in a series of sustainability initiatives set forth by FirstService Residential.  Since 2016, the firm’s New York City region has successfully converted more than 55 percent of its managed portfolio to 100-percent green energy—totaling over 125,000,000 kwh of renewable energy per year. 

The properties are able to achieve this by being supplied 100-percent renewable electricity through energy services companies (ESCOs). All properties managed by FirstService Residential have the option of receiving 100-percent renewable energy through FS Energy’s aggregation programs. FirstService Energy is a subsidiary of FirstService Residential.

“By utilizing FS Energy and participating in the energy aggregation, our buildings can achieve unprecedented savings and achieve their green goals,” said FirstService Energy President Tal Eyal.

Thom Devlin, a co-creator of the FirstService Energy aggregation program and an advisor for the FS Energy Aggregation Program added: “FirstService Residential New York City President, Dan Wurtzel felt it was important to be a leader in this decision before offering it to our properties. The portfolio is now on track to be the largest 100-percent green electricity purchase in the multi-family space. In my mind, it’s notable, because it’s a voluntary decision on the part of the properties.” 

This affordable solution for “going green” has been adopted by 102 of FirstService’s managed properties, and is passed through at cost. 

“It's an amazing testament to the environmental commitment of the co-op and condo boards in the First Service Residential portfolio. We're very proud of this achievement and we look forward to continued progress towards full participation,” stated FirstService Residential New York City President Dan Wurtzel.

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