Local Law 97, aimed at reducing carbon emissions in large buildings, is now in effect, with fines commencing soon for non-compliance. Solar power emerges as an effective compliance solution while lowering utility costs. Homeowners can benefit from incentives covering 75% of installation costs, with systems typically paying off in four to six years. For co-op boards, the appeal lies in compliance benefits, potential savings, and the one-time investment nature of solar installations, alongside generous incentive structures that favor larger installations over residential ones.
With Local Law 97 now in effect, solar power provides a compliance solution that leads to significant utility savings, making it an attractive option for large buildings.
The first fines for non-compliance under Local Law 97 begin in May, making it critical for buildings to consider solutions like solar energy for emissions reductions.
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