Local Law 97, the law that issues fines for buildings who exceed certain Greenhouse Gas Emission limits, has been modified in Governor Andrew Cuomo's proposed budget proposal. The new provision would allow building owners to purchase Renewable Energy Credits (RECs) in order to reduce their calculated carbon emissions if the building exceeds the limits. This is a change from the original language in Local Law 97, which required building owners to pay for more expensive efficiency upgrades in order to reduce their building's emissions.
If you have questions on this new change or would like to calculate whether your building currently exceeds the emission limits laid out in LL97, please contact Stanwich Energy Advisors.
