Local Law 97 penalty estimate
115 West 40 Street: $63,417/year in fees starting in 2030
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What would the estimated penalty be in 2030, assuming nothing changes?
$63,417/year
- Beginning in 2030, the city drops the emissions cap by 46%.
- At the same energy use, 115 West 40 Street will be 237 tons over the cap.
- Penalty is $268/ton over the cap, $63,417 total
Cap: 1,583 tons
01,820 tons emitted
What is the estimated penalty for 115 West 40 Street right now?
$0/year
- NYC caps a building's yearly greenhouse gas emissions.
- 115 West 40 Street is 656 tons under the emissions cap.
- So it owes no penalty.
Cap: 2,957 tons
02,300 tons emitted
Why does the penalty change in 2030?
- The emissions cap will be lowered by 46% in 2030, from 2,957 to 1,583 tons.
- NYC's grid will become cleaner by 2030, reducing this building's projected emissions from 2,300 to 1,820 tons.
- Energy use is held the same.
- Tons over go from 0 to 237 tons.
How much would the building need to cut its emissions to avoid the penalty?
13% less emissions than today
- This building must emit 13% less to avoid penalties.
- Owners can utilize energy efficiency upgrades or switch from gas or oil to electric.
How energy efficient is 115 West 40 Street?
56/100, grade C
- 115 West 40 Street scores 56 out of 100 for energy efficiency.
- That is grade C on the city's scale. 50 is typical for its type.
- It uses 84 kBtu per sq ft a year.
DCBA
560100
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 match of this property type to the city's category is still being checked
- ○The compliance route the city assigns is not confirmed
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