Local Law 97 penalty estimate
948 Eastern Parkway: $7,359/year in fees starting in 2030
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What would the estimated penalty be in 2030, assuming nothing changes?
$7,359/year
- Beginning in 2030, the city drops the emissions cap by 40%.
- At the same energy use, 948 Eastern Parkway will be 27 tons over the cap.
- Penalty is $268/ton over the cap, $7,359 total
63 ton cap27 over
What is the estimated penalty for 948 Eastern Parkway right now?
$2,124/year
- NYC caps a building's yearly greenhouse gas emissions.
- 948 Eastern Parkway is 8 tons over the emissions cap.
- Penalty is $268/ton over the cap, $2,124 total
105 ton cap8 over
Why does the penalty change in 2030?
- The emissions cap will be lowered by 40% in 2030, from 105 to 63 tons.
- NYC's grid will become cleaner by 2030, reducing this building's projected emissions from 113 to 91 tons.
- Energy use is held the same.
- Tons over go from 8 to 27 tons.
How much would the building need to cut its emissions to avoid the penalty?
31% less emissions than today
- This building must emit 31% less to avoid penalties.
- Owners can utilize energy efficiency upgrades or switch from gas or oil to electric.
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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