New York's Clean Energy Revolution: How RetroFix AI is Leading the Charge

RetroFix AI, founded in 2024 and headquartered in San Francisco, is an innovative web platform designed to assist building managers in automating the application process for tax incentives and sustainability credits. With a mission to make it easier for buildings to secure government subsidies, RetroFix AI aims to accelerate the global decarbonization of buildings. The platform consolidates information on various government incentives and allows building managers and contractors to apply for these incentives in minutes, thereby saving hundreds of thousands of dollars per building.

Who are the Founders of RetroFix AI?

RetroFix AI was co-founded by Daniel Portela and Isaac Toscano. Daniel Portela, who serves as the Chief Technology Officer (CTO), brings a strong technical background to the team with a degree in Computer Science from the Massachusetts Institute of Technology (MIT). Isaac Toscano, the Chief Executive Officer (CEO), has an extensive background in Materials Engineering, financial modeling for billion-dollar companies, and solar cell research, also from MIT. Additionally, he has a unique personal interest in Muay Thai, which he pursues on weekends. The founders met two years ago while studying at MIT, where they discovered a shared passion for solving the significant issue of building decarbonization. Their combined expertise and vision led to the creation of RetroFix AI.

What Problem is RetroFix AI Addressing?

Building operations are a major contributor to carbon emissions globally. They are responsible for approximately 26% of all energy and process-related CO2 emissions worldwide. In the United States, this figure rises to 29%, and in dense urban areas like New York, Washington DC, Boston, and Philadelphia, buildings account for over two-thirds of all greenhouse gas emissions. RetroFix AI aims to tackle this substantial contributor to climate change by simplifying the process for buildings to become more energy efficient and secure necessary subsidies. The company focuses on addressing the financial barriers that prevent many building managers from pursuing sustainability improvements, thereby accelerating the adoption of clean energy technologies in buildings.

How Does RetroFix AI Help Building Managers?

RetroFix AI provides a comprehensive solution to the challenges faced by building managers in applying for tax incentives and sustainability credits. Traditionally, the process of discovering incentives, checking eligibility, and applying for them is done manually via emails and phone calls with local utilities and government offices. This manual process is time-consuming and prone to errors, often deterring building managers from pursuing available incentives. RetroFix AI consolidates information on government incentives and streamlines the application process using artificial intelligence. The platform automatically identifies the best incentives for each building and provides a detailed list of required documentation. This automation saves building managers and contractors significant time and money, ensuring they can quickly and accurately apply for and receive sustainability credits and tax incentives.

Why is RetroFix AI Starting with New York?

RetroFix AI has chosen to focus its initial efforts on New York due to the recent implementation of Local Law 97. This law penalizes building owners for exceeding emissions thresholds, creating a significant financial incentive for building owners to invest in energy efficiency improvements. In 2024 alone, fines for non-compliance are estimated to total $20 million, with the potential to rise to over $85 million per year by 2030. Local Law 97 has created a substantial need for building owners to invest in infrastructure improvements and seek subsidies, making New York an ideal starting point for RetroFix AI's services. Additionally, Consolidated Edison, the largest utility in New York, has deployed over $2 billion in subsidies over the last four years, further highlighting the significant financial opportunities available for building owners in the state.

What Challenges Do Contractors Face in NYC?

Contractors in New York face numerous challenges when it comes to securing incentives for energy-efficient equipment in buildings. The process of researching the latest regulations and requirements to submit incentive applications correctly is time-consuming and complicated. This complexity often leads to errors, resulting in discrepancies between the incentives promised to customers and what is actually delivered. The volatility in subsidy money is problematic for contractors who focus on delivering the best pricing and service to their clients. Furthermore, the complexity of "stacking" incentives from various programs requires a significant amount of reading and understanding, deterring many contractors from fully utilizing available subsidies.

How Does RetroFix AI Simplify the Process for Contractors?

RetroFix AI addresses these challenges by using artificial intelligence to streamline the subsidy application process for energy-efficient equipment in buildings. The platform ensures contractors no longer need to spend excessive time on emails or phone calls with incentive programs. RetroFix AI's AI capabilities accurately identify the best incentives, provide up-to-date regulatory information, and generate a comprehensive list of required documentation, simplifying the process and reducing errors. By automating these tasks, RetroFix AI allows contractors to focus on delivering the best pricing and service to their clients, while also maximizing the potential for receiving incentives. This not only helps contractors save time and money but also accelerates the energy transition by making sustainability improvements more accessible and cost-effective.

What are the Benefits of Using RetroFix AI?

The benefits of using RetroFix AI are numerous for both building managers and contractors. Firstly, the platform saves significant amounts of time by automating the discovery and application process for tax incentives and sustainability credits. This allows building managers and contractors to focus on their core responsibilities without getting bogged down by administrative tasks. Secondly, RetroFix AI ensures the most accurate and up-to-date information is used in applications, reducing the risk of errors and increasing the likelihood of receiving incentives. This reliability is crucial for contractors who need to deliver on their promises to clients. Thirdly, by maximizing the potential for receiving incentives, RetroFix AI helps building managers and contractors save substantial amounts of money. This financial benefit can be reinvested into further sustainability improvements, creating a positive feedback loop that accelerates the adoption of clean energy technologies in buildings.

What is the Mission of RetroFix AI?

RetroFix AI's mission is to make it extremely easy for every building in the world to decarbonize. The company is committed to accelerating the adoption of clean energy technologies in buildings globally. By addressing the financial barriers to decarbonization, RetroFix AI aims to significantly reduce the carbon footprint of buildings, contributing to global efforts to combat climate change. The company's approach involves leveraging advanced technologies to streamline the process of securing government subsidies, thereby making sustainability improvements more accessible and affordable for building managers and contractors.

How Does RetroFix AI Plan to Expand Beyond New York?

While RetroFix AI is initially focusing on New York, the company has ambitious plans to expand its services to other regions. The team recognizes that the need for building decarbonization is a global issue, and they are committed to making their platform available to building managers and contractors worldwide. By continually updating its software to include the latest information on incentives and regulations, RetroFix AI aims to provide comprehensive support to its users regardless of their location. The ultimate goal is to facilitate the decarbonization of buildings on a global scale, making it easier for every building to become more energy efficient and environmentally friendly.

How Will RetroFix AI Impact the Future of Building Decarbonization?

RetroFix AI has the potential to significantly impact the future of building decarbonization by making it easier for building managers and contractors to secure necessary subsidies for energy-efficient improvements. By streamlining the application process and ensuring the most accurate and up-to-date information is used, RetroFix AI reduces the financial barriers that often prevent buildings from pursuing sustainability initiatives. This, in turn, accelerates the adoption of clean energy technologies and contributes to the global effort to reduce carbon emissions. As more buildings become energy efficient, the overall carbon footprint of the built environment will decrease, helping to mitigate the effects of climate change. RetroFix AI's innovative approach and commitment to sustainability make it a key player in the transition to a greener and more sustainable future.