You may know it as the Benchmarking Law, and it’s in place to deal with an important reality: About 80% of NYC’s carbon footprint comes from large commercial and multi-family buildings, and all but 15% of those will be in place a decade from now…when the City hopes to cut greenhouse gas emissions by 40%.
And this focus is why it’s going to succeed – there are almost a million buildings in New York City.
Local Law 84, one of a series of New York City regulations designed to gradually reduce greenhouse gas emissions and protect the environment, has fairly straightforward rules: all buildings of over 25,000 sq. feet must submit annual data on energy usage by May 1 of each year, for the previous year. If the facility has been equipped with an automatic water meter, it must submit data for water consumption as well – but only after the meter has been operating for at least a full year.
Most building owners simply request and then submit the data from their utility providers – this is a per-building, aggregated tally that does not require any breakdown by individual tenants. It’s the easy way to comply, but it does not guarantee the results you want. Specifically: based on your filing, your building will receive an efficiency rating score (A through D) that takes the form of a colorful label that, according to Local Law 33, is posted near the door of the building, in plain view. The scores are also available through a quick search online – this means they are a serious consideration when a potential buyer/renter considers your facility. As such, a good rating is nothing less than a powerful sales tool. There are a number of additional – but not commonly understood – variables that play a role in receiving your score, and by submitting utility bills without any other factors taken into account, you can actually receive, for instance, a “D” instead of an “A”. EZ Energy Services helps determine which of these factors can be leveraged to help increase the changes of a favorable outcomes.
Back to the filing requirement…
You’ll pay a $500 fine for missing that May 1 benchmarking deadline, and then each quarter, additional $500 penalties will apply when still failing to benchmark. This past year, the deadline was postponed to August 1, but there has yet to be an announcement regarding 2021.
Even without the follow-up laws 87 and 97, these figures can already help you focus your efforts on replacing or upgrading your existing equipment … and watching the saving appear immediately. EZ Energy Services is here to help guide you through the process of submitting accurate data, and proactively analyzing your facility, and planning improvements before you are racing against the clock. We can help you act quickly if you’re behind schedule (or even missed the May 1 deadline), or if you need to update or correct data already submitted.
Save money as you save the planet
Remember, New York City’s “Greener, Greater Buildings Plan” (GGBP) not only protects the environment, but also saves you money as you eliminate waste (water leaks, lights, and AC running with little oversight). As a matter of fact, EZ Energy Services can help with financing options that promise quick ROI or even, often, completely offset costs.
Now that we’ve reviewed LL 84, we can look at the somewhat more complex process and requirements found in LL 87.