Mayor de Blasio announced in September new mandates that will force building owners to make sharp reductions in greenhouse gas (GHG) emissions. The new rules will oblige owners of buildings over 25,000 sq ft to meet fossil fuel caps.
To compel owners to meet these aggressive targets, the legislation will set annual penalties that increase with building size and the amount the buildings exceed the fossil fuel use targets. For example, a 30,000 sq ft building operating substantially above its energy target would pay $60,000 for every year over the standard, starting in 2030. A one million square foot building operating well over its energy target would pay as much as $2,000,000 for every year over target. Failure to comply will also affect a building’s ability to receive future permits for major renovations.
How can your building be prepared for these new changes?
Our FS Energy subsidiary offers these tips:
1. Have an assessment done of the building’s heating plant by an experienced boiler company or boiler assessment engineering firm.
- This assessment should include a condition analysis of the physical boiler and distribution system for both heating and domestic hot water (DHW).
- Heating distribution waste needs to be addressed when heating plant components are replaced. Correcting inherent distribution problems will also increase resident comfort.
- When replacing a boiler, verify the building’s sizing needs; many times boilers are larger than the building requires.
- Evaluate splitting up DHW and heating to reduce waste from firing a large boiler during the summer for only DHW.
- Control systems should be evaluated to allow for fine-tuned control of the heating plant to further reduce waste.
2. Plan & Save Early—Know how much funding the building will need and start saving monthly for the replacement or upgrade of your heating plant equipment.
3. Continuous maintenance procedures should be implemented by building staff and third-party vendors to ensure your building is being monitored and serviced regularly to prevent loss of efficiency due to a lack of maintenance.
While the mandate will set the target, it leaves flexibility and time for building owners to make the necessary improvements that make the most sense for their building. Email firstname.lastname@example.org to learn more details.
For more information on how a great property management company can enhance the value of your property and improve your residents' lifestyles, fill out the form below.