Trane Technologies partnered with 55 Water Street—one of New York City’s largest commercial office buildings—to complete a pioneering electrification and decarbonization retrofit that transforms its energy systems while maintaining full occupancy. The project replaced aging steam infrastructure with an industry-first electrified thermal energy system that captures and repurposes waste heat and shifts energy use to off-peak hours, improving efficiency and lowering costs. This approach cut steam use by about 70%, improved overall energy efficiency by 20%, and is projected to save $1.5 million annually in utility costs, while also helping the building avoid emissions penalties and qualify for more than $14 million in incentives and tax credits. The retrofit demonstrates that large-scale build

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