Downtown Troy could get a geothermal system to cut energy costs

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Downtown Troy could get a geothermal system to cut energy costs

By District Energy posted 07-23-2019 15:58

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Michael DeMasi, Albany Business Review

Summary

The city of Troy will request a $5 million state grant to create a geothermal district downtown to provide heat and air conditioning to building owners near One Monument Square.

A 25% match would be required if the New York State Energy and Research Development Authority approves the grant, but the intent is for the match to be paid by the builder/owner of the geothermal system, not city taxpayers.

"It's good for Troy to be at the forefront of this," said Steven Strichman, commissioner of planning and economic development. "It's a cleaner, cheaper alternative to gas or coal."

The Troy Industrial Development Agency approved paying a consulting firm $5,000 to assist the city with the grant application. The firm, Egg Geo LLC, is based in St. Petersburg, Florida.