Deutsche Bank's NYC HQ Gets Record-Setting Solar Array
Deutsche Bank’s Americas headquarters is about to get a little greener, as the investment firm has just completed the installation of 122.4 kW solar photovoltaic array on the roof of its New York City office. The array is set to reduce the company’s electricity consumption and will decrease carbon emissions by 100 metric tons per year.
Calling the project the next step in the “goal to neutralize the bank’s global CO2 emissions by 2013,” Seth Waugh, CEO of Deutsche Bank in the Americas, discussed his firm’s commitment to energy reduction. “This project is one part of a comprehensive global program to reduce the bank’s consumption of fossil fuels and shift to more renewable sources of energy.”
Large-scale solar installations are starting to spring up around the country. In December, San Mateo, Calif.-based SolarCity partnered with Bank of America Merrill Lynch on a $1 billion project to install photovoltaic arrays in privatized U.S. military housing communities over the next five years. The project, which is slated to be the largest residential solar installation in the country, could ultimately create up to 300 megawatts of power.
The bank’s headquarters, located at 60 Wall St., is a 50-story skyscraper, occupied solely by Deutsche Bank. The photovoltaic system, which is located on the inclined south and east portions of the roof, is the largest solar array in Manhattan and is currently the highest elevated solar flat-panel array in the world, topping off at 737 feet above the ground.
The 60 Wall St. initiative is the third solar project in North America completed by Deutsche Bank, including the two-phase installation of a 1.27 megawatt solar PV system at its Piscataway, N.J., office. Deutsche Bank’s Piscataway solar electric system completed in 2011, has delivered a net-zero electric building. A fourth project of a 1.5-megawatt system is underway at Deutsche Bank’s Parsippany, N.J. facility with planned completion later this year.