As the City’s new energy policy takes effect, you must comply with all the provisions of NYCs Local Law 97. This regulation requires buildings to use renewable energy and save energy. Despite this fact, many building owners are struggling to meet their new obligations. Fortunately, there are resources and programs available to assist you in your energy efficiency efforts. Here are some of the most helpful resources for building owners:
The first part of NYC’s new law requires building owners to reduce their emissions, and enact the “Green New Deal.” This new legislation mandates a reduction in carbon emissions by 2025. This law is designed to make it easier for building owners to make the required reductions. It’s also designed to make it easier for building owners to comply, as it provides detailed information about what each type of property must do.
In addition to energy efficiency measures, businesses must also reduce their energy consumption. To do so, building owners can purchase unlimited renewable energy credits. These credits are based on the amount of renewable energy used to generate electricity in the city. They’re rated in megawatt hours. As such, they must represent the energy used by buildings in the same year as the emissions they produce. Buying these renewable energy credits will help building owners comply with the local law.
In addition to the Climate Action Plan, Local Law 97 also sets emissions limits for buildings in the city. Most buildings will have to cut their emissions by 40% by 2030 or 80 percent by 2050. The law sets the emission limits for each building type, and accommodations are made for energy-intensive healthcare facilities. However, the limit amounts are still subject to change and there are no specific guidelines for buildings in the city for the years after that.
The bill requires buildings to meet the city’s emissions goals by 2025. The bill includes a set of introductory compliance phases. The first phase includes rigid limits aimed at the highest emission intensity buildings in the City. The second compliance phase focuses on the higher emission intensity of city buildings. A third compliance period will be devoted to determining the reduction levels for individual buildings. By 2025, there will be a mandatory emissions report for every building in the city.
The bill requires buildings to meet carbon caps, which will start in 2026. The bill requires covered buildings to achieve carbon cap levels by 2025. The City’s compliance period is divided into two introductory compliance periods: the first and the second phase. The first phase sets rigid emissions limits and targets for each category. The second phase sets goals for each area of the City. A third compliance period sets lower limits for the building.
