Logical Buildings secured a $110 million funding facility to enable building owners in New York and New Jersey to slash energy costs and create grid revenue.
Zoom in: Apartment and commercial buildings consume a ton of energy. But building owners traditionally have had little incentive to invest in efficiency — it's their tenants who pay the electricity bills, after all.
New York City in 2019 passed a law that would require building owners to pay fines if they don't reduce their buildings' energy consumption. It takes effect Jan. 1, 2024.
