East / Regional Reports

Ice Storage Helps Cut Morgan Stanley's Electric Bills

July 31, 2006
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PURCHASE, N.Y. - Morgan Stanley, one of the world's largest diversified financial services companies, was recognized by New York state and county officials at its Purchase facility for installing the New York metropolitan area's largest ice storage-based air conditioning system.

Peter R. Smith, president and CEO of the New York State Energy Research and Development Authority (NYSERDA), said, "NYSERDA offers financial and technical assistance initiatives to help with identifying and installing projects which address the energy efficiency needs of our partners in a way that improves the environment and lessens our dependence on foreign oil. Morgan Stanley took the initiative to form a partnership with NYSERDA, Trane, and CALMAC; an innovative solution to tackle the company's energy needs through the use of an ice storage system was developed."

The authority presented Morgan Stanley with a ceremonial incentive check for $300,000. The group provides technical and financial assistance to businesses that reduce their energy costs and improve the reliability of the state's electrical grid, especially in the New York metropolitan area, where peak load demand reductions have a strong impact.

Morgan Stanley engaged the Energy Services group of Trane's New York - New Jersey offices. Trane, with technical and financial analysis support from ECM (Energy Management Services), proposed a thermal storage solution that would shift the site's electrical load from day to night. Electricity tends to be more plentiful, less expensive, and is generated more efficiently during off-peak hours.

"Aging equipment and the need for additional cooling capacity and site resiliency motivated us to investigate environmentally responsible solutions," said James P. McAleer, vice president of facilities for Morgan Stanley. "In addition to being recognized by NYSERDA and Westchester County, the Purchase site will be a beta site for similar projects at Morgan Stanley facilities around the globe."

Westchester County Executive Andy Spano said, "My administration is committed to supporting innovative ways to address the county's energy needs, to reduce dependence on foreign oil and protect the environment. The installation of a thermal storage system by Morgan Stanley in its large corporate office building in Purchase helps us accomplish these important goals. ... I commend them for investing in this important project.

"I'm sure the success of this project will encourage others to recognize the significant environmental benefits and cost savings offered by this type of technology," he continued. "Some time ago, a similar type of thermal storage system was installed in the county's own Michaelian Office Building. It has saved energy and money for us and our taxpayers."

SYSTEM AND SAVINGS

The Trane ice storage system makes ice at night, during off-peak hours, to provide cooling the next day, during peak hours. The system is expected to lower the facility's peak energy usage by 740 kW, reduce overall electric usage by 900,000 kWh, and reduce site overall fuel consumption by 15,000 MMBtu.

The system includes a 1,400-ton Earthwise CenTraVac™ chiller, which operates at 0.576 kW/ton in day mode and 0.733 kW/ton in ice-making mode, the company said. The ice made by this chiller is stored in 48 CALMAC IceBank® tanks, with a total storage capacity of 8,400 ton-hours.

According to the manufacturers and designers, the system has the flexibility to run on chiller only, ice only, or combined operation. An emergency mode is said to provide comfort cooling while the system makes ice in the evening.

The system includes a crossover plate-and-frame heat exchanger, which added redundancy to the existing cooling loop and extended the free cooling season for the facility, according to Trane.

The environmental benefits are estimated to be equivalent to Morgan Stanley planting 1.5 million acres of trees, or removing 271 cars from Westchester County roads.

Morgan Stanley is a diversified financial services company, with a reputation for excellence in advice and execution on a global scale. NYSERDA is a public benefit corporation that funds projects and research in energy-related fields, including supply, efficiency, and environmental areas. ECM specializes in energy market/financial analysis and provides retail and wholesale energy procurement services. Contact Eugene Garcia at 866-974-9974.

Publication date: 07/31/2006

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