Exploring the Clean Energy Landscape: Olsights Visits New York

Last week, Olsights Co-founder and Creative Director Rosie Griffiths had the privilege of flying across the pond for the first intensive for cohort 5 of Innovate UK’s Global Incubator Programme. Olsights was one of only 6 UK-based climate tech companies invited by Innovate UK to immerse themselves in the vibrant U.S. market, exploring the rich opportunities within the clean energy sector. Hosted by with Urban Future Labs and Greentown Labs, we embarked on a journey to better understand the ambitious goals set by New York and the United States as a whole in the quest for net-zero emissions.

It was an action packed with with customer discovery workshops, value proposition design, and one-on-one sessions with experts in climate technology and business regulations where we engaged in networking exercises, mentor check-ins, and interactive discussions focused on refining value propositions and testing hypotheses while taking a deeper dive into the differences between US & UK cultures and business styles to ensure maximum cross understanding and success. Not forgetting an insightful visit to the NYU Tandon Chemical Engineering Labs.

Understanding the New York’s Clean Energy Landscape

New York’s commitment to combating climate change is embodied in the New York Climate Leadership and Community Protection Act (2019). This landmark legislation outlines aggressive targets, including:

100% zero-carbon electricity by 2040, making it one of the most ambitious targets in the U.S.
A 40% reduction in emissions by 2030 and a carbon-neutral economy with at least an 85% reduction in emissions below 1990 levels by 2050.
A goal of 70% renewable electricity by 2030.
9,000 MW of offshore wind by 2035.
6,000 MW of distributed solar by 2025, increasing to 10,000 MW by 2030, which is enough to power 1.7 million homes.
6,000 MW of energy storage by 2030, up from 1,500 MW by 2025.
Achieving 185 TBtu of on-site energy savings by 2025.

These goals represent a significant push towards sustainability, aiming to transform New York into a leader in clean energy innovation.

Additionally, the NYC Green Economy Action Plan (2024) sets out a framework to support the local economy while fostering green job creation and sustainable practices. With the U.S. Department of Energy’s Inflation Reduction Act (IRA) and Bipartisan Infrastructure Law (BIL), federal initiatives further bolster state efforts, providing vital funding and support for clean energy projects.

New York State Energy Research and Development Authority

New York State’s has ambitious climate goals, including achieving a carbon-neutral economy by 2050, 100% zero-carbon electricity by 2040, and significant investments in renewable energy and energy storage. NYSERDA plays a key role in supporting these goals through innovation and commercialization programs, deploying $800 million over 10 years to accelerate climate tech solutions. Programs like Scale for ClimateTech and Uptake Alliance provide entrepreneurs with mentorship, funding, and commercialization support, helping startups scale their clean energy products in New York. NYSERDA’s initiatives focus on fostering innovation, driving market adoption, and ensuring a just and equitable energy transition.

NYC Economic Development Corporation

New York City is committed to building a thriving green economy, projected to generate 400,000 jobs by 2040. NYCEDC, through initiatives like the Climate Innovation Hub at the Brooklyn Army Terminal, is fostering innovation in climate tech by providing infrastructure, piloting opportunities, and regulatory support. The city is investing heavily in sustainable infrastructure, including $200 million for offshore wind and support for sectors like building decarbonization, electric vehicles, and clean energy. NYCEDC is working with private and public stakeholders to scale emerging climate solutions, supporting the city’s ambitious goals for carbon neutrality and equitable growth.

Understanding the U.S. Climate Regulatory Landscape

Understanding how to navigate the navigate the complex regulatory frameworks at federal, state, and local levels was the key focus of the week. Insightful key note speakers from the UK Department of Trade and Industry and the U.S. Department of Energy highlighted the resources available to companies committed to driving the climate transition.

UK Department for Business and Trade

The UK De partment for Business and Trade has many key support mechanisms for UK businesses aiming to expand into North America, with a focus on clean energy, future mobility, and decarbonisation. The Department fosters international trade, providing tailored services, and leveraging opportunities in key sectors like offshore wind, hydrogen, and electric vehicles. The document outlines the US and Canadian markets’ demand for green technologies, regulatory challenges, and collaboration opportunities, positioning the UK as a vital partner in achieving sustainable growth and innovation across the Atlantic.

The U.S. Department of Energy

The DOE’s plays a pivotal role in advancing clean energy, innovation, and climate technology in the U.S. They offer significant funding and investment opportunities under major legislative acts like the Bipartisan Infrastructure Law (BIL) and the Inflation Reduction Act (IRA), which focus on reducing greenhouse gas emissions, supporting energy start-ups, and fostering domestic clean energy production. The DOE uses a Research, Development, Demonstration, and Deployment (RDD&D) model to guide innovation, and its programs, such as the Loan Program Office and the Lab-Embedded Entrepreneurship Program, offer financial, technical, and network support to businesses. Key areas of focus include hydrogen, electric vehicles, carbon capture, and energy storage, with a strong emphasis on equitable economic growth, job creation, and benefiting underserved communities.

Look Ahead

With the ambitious targets set forth by New York, Olsights is well-positioned to help developers and authorities understand the necessary steps to achieve these goals. As look to how we can support these innovative companies on their energy transition journey, we are committed to fostering partnerships that will help drive the transition towards a sustainable future.

The clean energy landscape is evolving rapidly, and together, we can create lasting change. Here’s to a brighter, greener tomorrow!

Exploring NYC

It wasn’t all hard work, Rosie took the time to explore the sights and green spaces that make NYC a unique and vibrant city. A few snaps from the trip: