So, you just bought a new building in New York City. First of all, congratulations! That’s a great investment, and you’re clearly doing well for yourself. May your success continue for years to come. But now that you’re a property owner, here’s a question: have you installed solar yet?
While we’d love you to buy from us, this isn’t a sales pitch—it’s the law. Actually, it relates to two important laws: Laws 92 and 97. But what are these laws exactly? And how do they impact you?
Law 92
Let’s start with Law 92. This law requires that new buildings or those undergoing major roof renovations install either solar panels or green roofs. So, if you’ve purchased a new building, you’re legally required to incorporate sustainable energy or green space on your roof.
This is part of New York City’s green initiatives and a major step in combating climate change. More on that shortly.
Law 97
The second law, Law 97, specifically targets buildings over 25,000 square feet, requiring them to cut their greenhouse gas emissions by 40% by 2030 and achieve net-zero emissions by 2050. This is especially relevant for commercial buildings and co-ops in the city.
The Climate Mobilization Act
These laws are part of NYC’s broader Climate Mobilization Act (CMA). But what is the CMA?
The NYC Climate Mobilization Act (CMA) is a legislative package passed by the New York City Council in 2019 to reduce greenhouse gas emissions from buildings, which account for nearly 70% of the city’s total emissions. Think about it: NYC is the most densely populated city in America, and many of us rely on public transportation. Unlike places like Los Angeles, where high car usage contributes heavily to air pollution, our primary emission source is our buildings. So it’s crucial that we take responsibility for reducing it.
According to the official brief on NYC.gov, the CMA has three main goals:
- Emissions Reduction: The goal is to reduce NYC’s greenhouse gas emissions by 10% by 2030, which means eliminating 6 million tons of emissions. According to NYC.gov, this is equivalent to removing 1.3 million cars from the road every year.
- Job Creation: By 2030, the CMA is expected to create approximately 26,700 jobs, an essential move as the city reduces its reliance on fossil fuels.
- Health Benefits: Reducing fossil fuels also means lowering air pollution, which is projected to prevent 50 to 130 premature deaths and 150 hospital visits by 2030.
This is just the beginning. New York City is leading the charge against climate change more than any other major American city. Laws 92 and 97 are only part of the solution. If you’re considering a building purchase and wondering how these laws might impact you, give us a call at 929-999-1872, or fill out the form below.