Max Emrich, Shunichiro Tago, Arianna Tamaddon

Eighty percent of the energy consumed by New York City consists of fossil fuels, which contribute to climate change and adversely affect community health. New and ongoing energy projects come with their own problems, ranging from lack of financial transparency to infringement on the rights of Indigenous peoples. So why don't we produce where we consume? There are 38,000 solar installations in NYC, accounting for 6 percent of the 624,000 solar-capable roofs. Seventy-two percent of these roofs are owned by large landlords. Small landlords face greater financial pressure from local laws, taxes, insurance costs, and pandemic-related income loss. Njord removes renewable energy from small landlords' to-do lists. We bring these landlords together and fund and install a decentralized solar energy plant on the roofs of their building. Instead of working roof by roof, we first locate 50 to 100 buildings owned by landlords willing to install solar panels in exchange for a share of the profits. We then install panels on the roofs simultaneously, a process that reduces costs, consolidates maintenance, and minimizes the effort required of property owners. Landlords choose their level of commitment, from sharing roof space for 10 percent of the profits to fully funding the project for 90 percent of the profit. And the timing couldn't be any better, given the pressure of the Climate Mobilization Act, the potential for earning revenue from renewable energy credits, tax breaks for solar projects, and increased funding in the green energy sector. Installing solar panels on 1 percent of the roof space available can generate up to $12 million in yearly revenue, avoiding $3 million in penalties from Local Law 97 annually. Most important, it would prevent the release of 12,000 tons of carbon dioxide per year—equivalent to the effect of removing 2,760 cars from NYC's streets.