Making the Switch to Renewable Energy Solutions: A Guide for Commercial Property Owners
As global warming continues to impact people worldwide, the push for cleaner, renewable energy solutions is also ramping up. Both New York City and New York State are leading the charge with some of the most aggressive greenhouse gas reduction goals anywhere in the country. As a commercial property owner in the Tri-State area, you need to be prepared for significant changes in regulations and emissions requirements–some of which are about to take effect, and some of which will be coming soon. Now is the perfect time, not only to make sure you’re compliant, but to become proactive by switching to renewable energy solutions. Let’s dive into why making the switch to renewable energy solutions is not just an eco-friendly choice, but a smart business decision as well.
The Renewable Energy Wave in NYC
The renewable energy landscape in New York City is rapidly evolving. The state aims to have 70% of its electricity generated from renewable sources by 2030, and a zero-emissions grid by 2040. These targets are among the most ambitious in the nation and reflect the city’s commitment to combating climate change. Many of the new standards will be aimed at commercial properties as they are currently among the biggest consumers of fossil fuels.
Local Law 97 and Its Impact
Starting next year, Local Law 97 will transform the energy efficiency requirements for many buildings in NYC. This law mandates that buildings over 25,000 square feet reduce their carbon emissions to comply with new standards starting in 2024. Non-compliance could result in substantial fines. By switching to renewable energy solutions, your commercial property can meet these new standards while also benefiting from lower energy costs.
Practical Ways to Go Green
There are various ways to incorporate renewable energy into your commercial property. Let’s look at a few options to explore:
- Switching from Gas to Electric. Many new constructions in New York will be required to be all-electric starting in 2026–but as an owner of an existing property, you can get ahead of the curve. This simple switch can significantly reduce your property’s carbon footprint–plus, with the recent growth in renewable electricity generation in New York, your property can further benefit from clean, green power.
- Installing Solar Panels. Solar power is a reliable and increasingly cost-effective solution. If your building’s roof has enough exposure to the sun (sometimes a challenge in NYC, but still possible), you can generate your own electricity and even sell any excess back to the grid.
- Switching to Geothermal Heat Pumps. This trend is starting to take off in NYC, as well. Geothermal heat systems use the earth’s natural heat to provide heating and cooling for your property. They’re efficient, reliable, and can significantly reduce your energy costs.
The ROI of Renewable Energy
While investing in renewable energy solutions may require some upfront investment, it can offer a significant return on that investment over time. Not only can these upgrades lower your energy costs, but they can also increase your property’s value. Plus, there are numerous incentives and rebates available from both the city and state to offset the initial investment.
At Apollo Electrical, we’re playing a key role in helping the Tri-State area adopt cleaner energy standards–after all, electricity has zero emissions, and NYC is aggressively switching to cleaner ways to generate that electricity. We can offer advice on what options are suited to your property’s unique needs, and our master technicians will skillfully install quality components to make sure your grid is safe, reliable, and energy-efficient. Reach out to us to learn more.