News:
Spotlight Content
Posted: November 26, 2024
2024 Ones to Watch - Innovators in CRE: Sammy Chu, Edgewise Energy + Community Power Long Island
Sammy Chu is the founder and CEO of Edgewise Energy (established in 2019) and Community Power Long Island (founded in 2021), leading both in the development of clean energy solutions like Battery Energy Storage Systems (BESS) and Community Fuel Cell Farms. He oversees strategy, business development, and project execution. Edgewise Energy has grown to a team of six, while Community Power Long Island partners with local property owners and municipalities to bring renewable energy and cost savings directly to residents and communities. Chu’s leadership, combined with his roles on the boards of the MTA, USGBC-LI, and EAC, makes him a key figure in advancing the region’s clean energy transition.
Innovative Outlook: The biggest opportunities for innovation in the commercial real estate sector lie in energy infrastructure, resilience, and sustainability. As buildings face increasing energy demands and pressure to meet climate goals, I see advanced solutions like BESS and on-site renewable energy generation becoming essential. These technologies not only reduce energy costs but also enhance resilience during grid outages, offering a competitive edge. With climate-related storm risks rising, grid reliability is more crucial than ever. Additionally, electrification and smart energy management optimize energy use, aligning with regulations and tenant demand, future-proofing assets and adding long-term value.
Innovative Solution: In today’s challenging market, I’ve adapted by focusing on flexibility and long-term sustainability. At Edgewise Energy, we’ve prioritized resilient energy infrastructure, like Battery Energy Storage Systems (BESS), which offer commercial real estate owners both energy cost savings and backup power during outages. This dual benefit is increasingly attractive as grid reliability becomes a concern. Additionally, I’ve shifted our strategy to partner more closely with local developers and property managers, integrating clean energy solutions into their projects from the ground up.
At Community Power Long Island, we’re creating renewable energy access for those with limited control over energy choices, like apartment renters, aligning with market demand and the growing emphasis on ESG. Through adaptability and partnerships, we’ve navigated market volatility and positioned ourselves for growth.
“Sammy Chu is a leader in commercial real estate, working to drive cost savings and energy resilience through Battery Energy Storage Systems (BESS). By integrating BESS, he aims to reduce energy costs, enhance property values, and create grid resilience. Under his leadership, Community Power Long Island launched one of the nation’s largest community energy projects, centered around a fuel cell farm in Melville, delivering savings to Long Island residents while advancing the state’s climate goals.” - Jennifer Solomon, JSOLO, Inc.
Tags:
Spotlight Content
MORE FROM Spotlight Content
Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin
When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
.png)
Quick Hits
.gif)
.jpg)
Columns and Thought Leadership
The strategy of co-op busting in commercial real estate - by Robert Khodadadian
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra
Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
Properly serving a lien law Section 59 Demand - by Bret McCabe
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:
Formal Legislative Role
• Limited direct lawmaking power: The NYC Council is the primary
.gif)