Green Options

As the largest consumer and small business bank, BofA (NYSE: BAC) can have a major positive or negative impact on the environment. Since March, 2007, the bank has taken on a $20 billion initiative to “encourage environmentally friendly business activity” over the next decade. Applauded by some and criticized by others, just how green is this bank?

Crystalline Tower Office Building in Manhattan

BofA’s new 2.1 million square foot, 54 story tower is being heralded as the world’s greenest skyscraper. This $1 billion glass, steel, and aluminum skyscraper will use significantly less water and energy, while providing a healthy indoor environment.

It features a passive solar design, the use of recycled and renewable materials, and work stations with individual climate controls. Natural elements include the use of rain water and a green roof reduces energy use for heating and cooling. A graywater system will reuse waste water from sinks to flush toilets. A 4.6 megawatt cogeneration plant will generate heat and electricity.

New South Wales, Australia is the site of a pilot project where solar thermal technology reduces the use of fossil fuels. Coal and solar generate electricity using the same turbines.

Coal power plants can utilize solar to produce 15%-60% of the electricity. A higher quantity is possible, but requires significantly more modifications to be made to the coal boilers.

Solar Interface

Mirrors, called fresnal reflectors capture the sun’s rays and heat water in the tube above. Steam lines deliver the solar energy to the adjacent coal power plant where existing coal turbines are used to produce an electric current.

The ideal situation for retrofitting a coal power plant with solar includes: