Local Law 97 (LL97) is a legislation that emerged as a part of New York City’s Climate Mobilization Act, aiming to combat climate change at the urban level. Recognizing buildings as the city’s primary source of greenhouse gas emissions, the law was established to drastically reduce these emissions over the forthcoming decades. (NYC.gov. The goal is to reduce the emissions produced by the city’s largest buildings by 40 percent by 2030 and 80 percent by 2050. (NYC.gov) Building owners and property managers face many challenges when it comes to carbon emissions compliance, lowering operating costs, offering a healthier building, and avoiding carbon fines. Here is how you can achieve Local Law 97 compliance for no money down.
Financial And Logistical Challenges Of Compliance For Building Owners
1. Risk of Non-Compliance and Fines
Failure to comply with carbon emissions regulations can result in substantial fines leading to financial strain.
2. High Initial Investment Costs
Implementing carbon emissions compliance measures can require significant upfront investment, which may be a financial burden for building owners, particularly for older or larger buildings.
3. Operational Disruptions During Upgrades
Implementing new systems or retrofitting existing ones for better energy efficiency and reduced emissions can lead to operational disruptions, impacting residents and daily building operations.
4. Balancing Resident Comfort with Efficiency
Ensuring a comfortable living environment while implementing energy-efficient solutions can be a delicate balance. Residents may have concerns about changes in heating or cooling systems and their impact on comfort.
5. Access to Funding and Incentives
Identifying and securing financial incentives, grants, or loans to offset the cost of energy upgrades can be a complex process, requiring time and expertise that building owners might not have. (Learn about IRA Incentives)
How Kelvin’s Smart Radiator Covers Help With Compliance
Photo: Kelvin’s Cozy
Kelvin provides smart radiator covers, heat pumps, and thermal batteries to decarbonize legacy buildings. Kelvin’s technology and expertise provide an affordable way for buildings to meet New York City’s carbon emissions targets. The Kelvin team provides the following assistance to help all building owners and managers:
Kelvin can determine your building’s local law compliance requirements, LL97 emissions caps, and estimated penalty amounts (if applicable).
Kelvin identifies opportunities to reduce carbon emissions and energy costs. Kelvin’s technology helps meets 5 of the prescriptive energy conservation measures (ECMs).
Kelvin’s products are available for utility incentives and tax rebates. Kelvin also offers no-money-down financing so your building can reduce emissions and energy costs without upfront investment.
Kelvin’s No-Money-Down Option
Kelvin offers advanced energy-saving solutions in heating and cooling, designed to align with both environmental and financial considerations. These systems are available through a subscription model, eliminating upfront costs. This model is structured so that the monthly subscription fees are offset by the energy savings achieved, ensuring a cost-effective approach for clients. The subscription option lets owners complete the project without needing to tap into capital budgets or take out a loan.
Our focus at Kelvin is on long-term client relationships, emphasizing maximum energy savings, policy compliance, and improved building comfort and efficiency over time. The approach is rooted in a deep commitment to providing solutions that are not only in the best interest of our clients but also contribute to broader environmental goals.
How Does This Model Make Compliance Accessible And Affordable For Building Owners?
Pathway to Compliance: Free Energy Saving Analysis
Navigating the landscape of environmental regulations pose a significant challenge for building owners. Local Law 97, sets stringent carbon emissions limits for buildings, underscoring the urgency for compliance to avoid fines.
To help building owners, Kelvin offers a free energy-saving analysis. This customized assessment outlines efficient and cost-effective pathways tailored to the specific needs of their buildings. With the deadline for compliance with Local Law 97 approaching, taking prompt action is crucial. Contact Us.