Trane by Trane Technologies and the State of New Mexico Decarbonize Santa Fe’s Aging Buildings, Save Taxpayers $1.1M

The initiative, a first-of-its kind for the State of New Mexico and its largest renewable energy project to date, enables carbon footprint and energy use reductions for more than 30 sites.

SWORDS, Ireland – May 19, 2022 – Trane® – by Trane Technologies (NYSE:TT), a global climate innovator, and the State of New Mexico today announced the completion of the state’s first-of-its-kind State Buildings Green Energy Project (SBGEP), a decarbonization-focused initiative, and the State of New Mexico’s largest state-owned renewable energy project to date, targeting more than 30 aging buildings in Santa Fe. While helping the state to reach its 2050 net-zero carbon emissions goal, annually the project will save local taxpayers $1.1 million dollars, eliminate 7,400 metric tons of carbon emissions and conserve 5.1 million gallons of water.

The 32 public buildings – all over 50 years old – in New Mexico’s historic capital, Santa Fe, have received a sustainability makeover, partially funded with future energy savings through a Trane Energy Savings Performance Contract and utility rebates. In addition to modernized, high-efficiency HVAC systems and rooftop solar panels, nearly all buildings are now outfitted with LED lighting, water conservation measures and advanced controls to monitor and maximize energy efficiency.

“New Mexicans see common ground on saving energy and costs in state government,” said Sarah Cottrell Propst, Cabinet Secretary of the New Mexico Energy, Minerals and Natural Resources Department. “We want to be wise stewards of taxpayers’ dollars. A project like this, that saves money while saving energy, is just a win-win.” 

By generating, supplying, and storing some of the buildings’ own renewable energy, the SBGEP allows the state to reduce reliance on utility companies and the energy grid, which can be subject to outages or disruptions. With sustainability improvements for some of Santa Fe’s most important public buildings, including the Departments of Health, Public Education and Children, Youth & Families, the community is now benefitting from more comfortable, efficient and economical public spaces; the project has already saved taxpayers $984,000 while significantly reducing emissions and water use.

“We’re extremely proud of our work with New Mexico,” said Donny Simmons, president, Commercial HVAC Americas, Trane Technologies. “This program provides their beautiful and historic capital city with high performing buildings, while giving citizens access to efficient, healthier public spaces. If more cities and states follow New Mexico’s example, they could update their infrastructure and pay for it through future energy savings, while reducing their carbon footprint.”  

The SBGEP supports New Mexico’s sustainability goals, progressing the state’s climate action plans. The project also supports the state’s Energy Transaction Act which sets a statewide renewable energy standard of 50 percent by 2030 for New Mexico investor-owned utilities and rural electric cooperatives, and a goal of 80 percent by 2040. Additionally, the state has committed to reducing statewide greenhouse gas emissions by 45 percent below 2005 levels by 2030, and has pledged to protect scarce water resources through several programs including recent Bipartisan Infrastructure Law funded projects.

Trane has worked with the State of New Mexico for over 30 years, leveraging the company’s expertise in areas including sustainable climate solutions and indoor environmental quality. The SBGEP also aligns with Trane Technologies’ 2030 Sustainability Commitments, including its Gigaton Challenge which aims to reduce one gigaton – or, a billion metric tons – of customers’ carbon emissions by 2030.

For additional soundbites from Secretary Cottrell Propst, plus other downloadable multi-media assets and more information on the SBGEP, visit trane.com.  

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About Trane Technologies
Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. For more on Trane Technologies, visit tranetechnologies.com.

About Trane
Trane – by Trane Technologies (NYSE: TT), a global climate innovator – creates comfortable, energy-efficient indoor environments for commercial and residential applications. For more information, please visit www.trane.com.

Investors Contact:
Zachary Nagle
1-704-990-3913
zachary.nagle@tranetechnologies.com