Spotlight on Innovation: Tallarna
Statewide
Incentivizing Building Energy Upgrades at Scale
By quantifying, insuring, and financing value streams from large-scale building decarbonization projects, a new subscription-style model aims to improve access to capital for building owners in a risk-managed way.
Problem
High upfront costs combined with large, pre-existing debt are major hurdles for building owners looking to upgrade and decarbonize their buildings.
Conventional financing options for retrofits do not account for the value streams that result from retrofits. At the same time, building owners are often unfamiliar with the many details of implementing these complex projects – meaning action lags.
Proposed Solution
Tallarna, a climate tech and finance platform for sustainable impact, has developed a full-suite decarbonization retrofit offering through integrating its investment-grade software and insurance with a panel of funders, implementation providers, and other stakeholders across the building value chain.
“We provide a scalable mechanism for the energy transition, one that enables private capital to flow to where it’s most needed. Our projects deliver immediate impact for residents and the planet, with insured, long-term outcomes.”
– Tim Meanock, CEO, Tallarna
With their integrated solution and network of turnkey decarbonization providers, Tallarna plans to enable a “Decarbonization-as-a-Service” offering for owners of Low- and Moderate-Income (LMI) multifamily buildings in NYS. Tallarna’s solution aims to guarantee retrofit project performance, increase the availability of risk-managed private finance for building owners, and facilitate day-one savings for tenants. This model will also allow building owners to pay for retrofits over extended periods using a portion of the value streams created by the projects themselves.
Project Timeline
Initiated: January 2024
Completed: January 2026
Goals and Objectives
Through this project, Tallarna aims to bridge the financing gap for building owners hoping to implement energy efficiency, generation, or electrification projects. They plan to do this by:
1.
Expanding the number of retrofit value streams their software assesses and underwrites.
2.
Partnering with local decarbonization solution providers with a track record of implementing successful retrofits projects.
3.
Using their bundled solution to finance and deliver two initial projects across hundreds of units.
Check out other building carbon decarbonization solutions.
Visit NYSERDA’s Innovative Market Strategies program page.