BlocPower facilitates energy efficiency upgrades in underserved communities by pooling building portfolios and connecting property owners with investors.

BlocPower organizes micro-portfolios of small businesses, non-profits, houses of worship and multi-family properties in low-income communities that are in need of energy efficiency upgrades. BlocPower aims to cut energy costs for these micro-portfolios by an average of 25%. The portfolios of proposed clean energy projects are presented to investors seeking social, environmental, and financial returns via an online marketplace. BlocPower increases their credibility to investors by performing energy audits and retrofitting plans. Investors financing the micro-portfolios are repaid by the energy savings generated by the projects.

“We want to bring clean energy to every inner city in the country.”

Donnel Baird – Founder, BlocPower

BlocPower creates jobs by sending disadvantaged youth to training courses and employing them to perform the retrofits. In 2015, the company served more than 300 clients in under-served communities and launched a plan to retrofit 1,000 Brooklyn buildings and build a solar-powered, community-owned microgrid.

Why you should care

New York City is home to more than 200,000 small businesses, non-profits and places of worship, according to BlocPower. In communities where energy efficiency upgrades are not affordable, heating and power bills can consume around a third of income. By providing a scheme with no upfront costs, low-income communities can retrofit their buildings, using the savings to pay back investors, reduce carbon emissions, and create local jobs.

How the Global Goals are addressed

Affordable and Clean Energy

Increasing energy efficiency in buildings reduces energy consumption, making bills more affordable. One church saved over $30,000 a year on their bills, according to the company.

Reduced Inequalities

Bloc Power employs local, young workers to help reduce inequality and unemployment in low-income communities, in turn boosting the local economy.

Climate Action

Increasing energy efficiency helps to lower carbon emissions through lower electricity consumption.