Local Law 97 (LL97) is the centerpiece of the Climate Mobilization Act passed in April 2019. LL97 promotes renewable energy, energy efficiency, and electrification in New York City and stipulates mandatory carbon limits for covered buildings during every compliance period. Property owners and managers may need to invest in building upgrades to reduce emissions and meet compliance.
Since the law may impact different buildings in a variety of ways, there is no one-size-fits-all approach to maintaining compliance. Several factors will determine what preparations are necessary.
Besides implementing energy-efficient measures, building owners can also benefit from rebate incentives. One option is to deduct up to 10% of your annual emissions limit by purchasing greenhouse gas offsets which will likely be a cost-effective way to reduce a building’s LL97 liability. You can also deduct an unlimited portion of your annual emissions limit by purchasing a proportional number of renewable energy credits (RECs). However, those RECs must be produced in or directly deliverable to New York City’s portion of the grid, making this a nonexistent commodity (though that might change). Contact us to review all options available to you.
The path to compliance can be complex; as your energy solutions partner, we can ensure that your building complies with LL97 requirements and ordinances as they are adopted. You can rely on our expertise to help you formulate a plan to address LL97 and identify the right incentives that push your building toward compliance and emissions reductions. With rebates and incentives, energy projects offer a significant return on your investment. We also provide energy efficiency audits, retrofit project management, energy supply procurement and brokerage, strategic consulting for long-term management, and technology assessments.
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The WT Group provides clients with a single-source engineering solution to help maintain the integrity of all projects from start to finish. With nearly 50 years of experience, WT Group's highly skilled engineering, design, and consulting teams ensure consistency, clarity, and accuracy in the most cost and time-efficient manner. Contact us today!