Alloy Development has chosen Radial Power and MaxSolar to supply renewable energy for 505 State Street, marking NYC's first all-electric residential skyscraper. The project aims for carbon neutrality through 900 kilowatts of solar energy from Radial's rooftop array and up to 2.4 megawatts from MaxSolar's project. These 25-year agreements support the city's renewable grid transition while Alloy leverages new policies for residential sustainability. As the building nears full occupancy, it forms part of a larger mixed-use development set to provide over 1,000 residences, office spaces, and retail areas.
"We are always focused on finding creative solutions to power the city's green energy transition that complement local environmental policy," said Alloy Vice President David McCarty.
The 25-year agreements are within Con Edison's territory and align with the city's efforts to transition to a fully renewable grid.
The announcement comes as 505 State St., a 44-story tower at the intersection of State Street and Flatbush Avenue, nears full occupancy.
Alloy is the first developer to leverage a 2022 ruling by the New York City Department of Buildings under Local Law 97.
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