Building owners will be allowed to submit requests deductions to their buildings emissions limits. Deductions will be available at a later date, as these are currently being considered by the Working Groups and Advisory Board.
Local Law 97 allows for buildings to apply for deductions to the limit set for their emissions by purchasing greenhouse gas offsets, renewable energy credits, or by using distributed energy resources.
Details for these deductions are not yet finalized, as they are currently being considered by the Working Groups and Advisory Board. Updates will be posted to this website when more information is available.
Greenhouse gas offsets are a credit representing one metric ton of carbon dioxide equivalent emissions reduced or avoided from a measured baseline of emissions. The greenhouse gas offset will require verification by an independent, qualified third party.
Renewable energy credits are certificates representing electricity generated from a renewable energy sources. These credits are recognized and transferable within national renewable energy markets or the New York generation tracking system.
A distributed energy resource is made up of one or multiple units generating or storing electricity at a single location that is directly or indirectly connected to an electric utility transmission and distribution system. Distributed energy resources often come from renewable energy sources, allow for the collection, transmission, and storing of energy in a way that lowers environmental impacts.