In 2019, Local Law 97 was introduced as part of the Climate Mobilization Act to help reduce carbon emissions in New York City's buildings. The law places carbon caps on buildings larger than 25,000 square feet—roughly 50,000 residential and commercial properties across NYC. These caps start in 2024 and will become more stringent over time, eventually reducing emissions 80 percent by 2050.
The law is the most ambitious building emissions legislation enacted by any city in the world. It incorporates many recommendations from our 80x50 Buildings Partnership, including more feasible timelines, a green power purchase option, a provision for carbon trading between buildings, and future refinement through an advisory board process.
To help property owner's fund reducing their buildings carbon emissions, the NY Government have introduced various incentives programs for property owners who introduce energy efficient mechanicals, appliances and building envelope measures into their buildings.
STRATCO is NYC's premier performance based advisory firm for obtaining government rebates. We specialize in getting energy efficiency rebates for new development projects and existing buildings all throughout the State. We are able to audit a job and identify potential incentives that NYS will pay towards the project. We work on contingency, so no out of pocket is required to commence work. If you have any buildings undergoing gut renovation, or mechanical replacement, you may qualify for rebates.
Click here for an insight into how STRATCO can help you secure government rebates for capital improvement projects.