Local Law 97 penalty estimate
530 Second Avenue may pay $21,760/year in fees starting in 2030
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Why is this property expected to pay a fee beginning in 2030?
- Beginning in 2030, the city drops the emissions cap by 40%.
- At the same energy use, 530 Second Avenue will be 81 tons over the cap.
- Penalty is $268/ton over the cap, $21,760 total
0Cap: 116 tons197 tons emitted
What is the estimated penalty for 530 Second Avenue right now?
$12,863/year
- NYC caps a building's yearly greenhouse gas emissions.
- 530 Second Avenue is 48 tons over the emissions cap.
- Penalty is $268/ton over the cap, $12,863 total
0Cap: 192 tons240 tons emitted
Why does the penalty change in 2030?
- The emissions cap will be lowered by 40% in 2030, from 192 to 116 tons.
- NYC's grid will become cleaner by 2030, reducing this building's projected emissions from 240 to 197 tons.
- Energy use is held the same.
- Tons over go from 48 to 81 tons.
How much would the building need to cut its emissions to avoid the penalty?
42% less emissions than today
- This building must emit 42% less to avoid penalties.
- Owners can utilize energy efficiency upgrades or switch from gas or oil to electric.
How energy efficient is 530 Second Avenue?
9/100, grade D
- 530 Second Avenue scores 9 out of 100 for energy efficiency.
- That is grade D on the city's scale. 50 is typical for its type.
- It uses 138 kBtu per sq ft a year.
DCBA
90100
How reliable is this estimate?
- This is a planning estimate, not the city's official number.
- Owners report their own energy use, and reports can have mistakes.
- The city makes the final call.
- ✓Energy use comes from the building's own 2024 report to the city
- ✓Emissions rates for 2024 to 2029 match the law
- ✓Emissions rates for 2030 on match the city rule
- ✓The property type is matched to the city's category
- ○The compliance route the city assigns is not confirmed
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