Advantages of Geothermal Energy

The Advantage of Geothermal Energy

What are we doing? Changing the world. How are we doing it? Geothermal Energy.

What an exciting time to be alive! With pressure from citizens and governments to go green, build more sustainably, and save valuable financial and energy resources, ReWyre’s tech provider NY Geothermal is stepping up in a colossal way!

NY Geothermal offers “breakthrough technology” that captures and recycles Earth’s own core heat and the heat exchange between our planet and the sun. According to NY Geothermal, combining their unique systems with solar energy, can not only end our reliance on “fossil fuels while eliminating CO2 emissions entirely." Also NY Geothermal can help businesses and homeowners, and notably, economically disadvantaged communities, take charge of their energy expenses by reducing these costs dramatically, or going entirely off the grid. Anyone in? Count us all!

Specifically, when a geothermal system is supplemented by rooftop solar arrays or other solar energy capturing surfaces (think, parking lot roofs, sidings, etc.) savings reach up to 84% of energy costs, compared to a conventional system. And the best part, any excess energy can be sold back to the grid to create a new revenue stream. Wait, what? Where do I sign?!

 

Some of us are in a real hurry to get our buildings on a smaller carbon footprint, as is the case in the New York City, where climate action has already been sealed in the legislation. NY Geothermal is here to help. The company was created in response to the implementation of the Local Law 97, mandating a dramatic drop in carbon emissions for New York City.

 

NY Geothermal’s mission is to help builders and building owners in New York and surrounding areas become carbon neutral. The NYC fossil fuel ban was passed in December 2021 under intro 2317-2021, which requires all new buildings to use alternative energy other than fossil fuel up to a certain point. New York City buildings will now have a cap of emitting no more than 25 kilograms of CO2 per million BTUs. A new bill named the “All-Electric Building Act” is even more aggressive and will be voted on next. If passed, this bill will make New York State the first state in the USA to implement a state-wide ban on gas. New York is set to become a leader in climate change and decarbonization.

So how does renewable energy work to heat and cool buildings? First, NY Geothermal captures the energy from the Earth’s core which can run up to 10,000 degrees Fahrenheit. The NY Geothermal technology captures the heat in these renewable energy sources and converts them into energy that is useable for buildings' heating and cooling needs, as well as heats water!

The technology is underground as a smart loop system that will according to NY Geothermal, “capitalize on the contrast between temperatures at the surface and in the deeper layers of the earth, to deliver the appropriate amount of energy for heating and cooling with the help of a refrigeration-based condenser.” Even though geothermal solutions may not work for every building, NY Geothermal has a wide range of services (including building envelope improvements) and top-notch engineering solutions to help citizens and business owners get greater energy efficiency and meet the new decarbonization requirements, while lowering energy costs.

We are very proud to offer this technology through the ReWyre proptech marketplace. Our vision is to transform the built environment for a smarter and more sustainable future, and companies like NY Geothermal are paving the way to that future in full force. Please follow our blog for everything proptech, and sign up for our ReWyre newsletter for exclusive content sent to your inbox.