According to CNBC, the company wants to achieve this goal by leasing the necessary equipment to landlords in order to greenify their energy usage.

Through this process, BlocPower managed to modernize over 1.200 buildings in New York City and plans to expand to tens of other American cities.

Among the products that landlords and homeowners can lease, we find green heating and cooling systems, electric appliances an solar panels.

The company's employees take care of installing the equipment and maintenance in exchange for a monthly fee.

Through their business plan, the team behind the project reports that they were able to reduce energy consumption by 30% to 50%, and greenhouse gas emissions by 40% to 70% in some cases.

They say that, if the business will go well, in 10 years they'll be able to reduce greenhouse gas emissions in the U.S. by 25% and save 30% of the millions of dollars wasted on energy.

Donnel Baird, CEO at BlocPower, said that "we’re going to decrease the amount of oil and gas and fossil fuels that these buildings consume, decrease the amount of emissions that are created.”

Baird, who lives in Brooklyn, noticed that the building he lives in could make use of a modernized electrical system and got the idea to start the business from that point, knowing that there are other people living in buildings similar to his.

What's interesting is that the equipment is leased by BlocPower for 10 to 15 years in order to pay back the investors and for the company to collect its fees. After this, ownership is transferred to the building owner.

BlocPower made plans for the city of Ithaca, in the state of New York, to become the first entirely net zero city in the U.S. by 2030.

Luis Aguirre-Torres, sustainability director for the city of Ithaca, said that “when we started working together towards developing this program, we realized that this is possible.”

He thinks that this should be an example for the rest of the world by adding that “it’s not only about being the first city in America, in the entire planet to fully decarbonize. It is really is about showing that it is possible.”

Early investors in the project were Exelon, American Family Insurance and the Schmidt Family Foundation.

This January Microsoft joined the backers of the project, bringing the total funds to 100 million dollars with their own investment.

Then, Bezos Earth Fund infused an additional 5 million dollars to ensure that BlocPower will be able to digitally map 125 million American buildings and help them become more sustainable.

Currently, the company opened discussions with cities in California, Massachusetts and Georgia about decarbonizing their buildings.