C-PACE: A Financing Solution for Local Law 97 Compliance in NYC

Real Estate Broker/Owner with Centum Real Estate Group Lic #10401249650

"Complying with Local Law 97: How C-PACE Can Help NYC Building Owners"

If you're a building owner in New York City, you may be familiar with Local Law 97, also known as the Climate Mobilization Act. This legislation aims to reduce carbon emissions from large buildings in the city, with the goal of combating climate change and achieving carbon neutrality by 2050.

As a building owner, you may be wondering how you can comply with Local Law 97 and make the necessary energy efficiency upgrades to your building. One option that may be worth considering is C-PACE (Commercial Property Assessed Clean Energy).

So, what is C-PACE and how can it help you with Local Law 97 compliance? Here's what you need to know:

  1. C-PACE is a financing program that helps building owners pay for energy efficiency upgrades, renewable energy projects, and water conservation measures. It allows building owners to finance these improvements through a voluntary assessment on their property tax bill, which is then paid back over a period of time (typically up to 25 years).

  2. C-PACE can help building owners comply with Local Law 97 by allowing them to make the necessary energy efficiency upgrades without having to pay for them upfront. This can make it more financially feasible for building owners to make the necessary improvements and meet the emissions caps set by the legislation.

  3. C-PACE is a flexible program that can be tailored to the specific needs of each building. This means that building owners can choose the energy efficiency upgrades and renewable energy projects that will have the greatest impact on their building's energy consumption and carbon emissions.

  4. C-PACE is a win-win for building owners and the environment. By making energy efficiency improvements and switching to renewable energy, building owners can save money on energy costs over the long term, while also reducing their carbon emissions and helping the city achieve its climate goals.

In conclusion, C-PACE is a valuable tool for NYC building owners looking to comply with Local Law 97 and make energy efficiency improvements to their buildings. If you're a building owner in the city, consider exploring this program as a way to finance the necessary upgrades and reduce your building's carbon emissions.

Comments (0)