Con Edison, along with proponents like Urban Green Council, a nonprofit group that promotes sustainable building, argued in Council hearings that the city’s grid could handle the increase, partly because its biggest strains come in summer, from air conditioning.
“Furnaces, boilers and hot water heaters emit more carbon in New York City than all uses of electricity combined today, so electrifying those systems becomes our biggest way to fight climate change,” said John Mandyck, CEO of the Urban Green Council.
Co-op and condo boards will soon face momentous decisions on how to reduce their buildings’ carbon emissions to avoid stiff fines under the city’s Climate Mobilization Act. In a new report called Grid Ready, Urban Green Council offers the encouraging news that the city’s electric grid is ready to handle increasing demand if co-op and condo boards start switching from fossil fuel-fired boilers to electric heat pumps.
The project is part of a larger movement of investors steering money toward sustainable real estate, thanks to new technology and tougher standards that allow for better tracking of a development’s ability to reduce its carbon footprint.
In this special New York Climate Week episode, the ESG Insider podcast explores how the built environment is responsible for nearly 40% of all global carbon dioxide emissions, and what it will take to decarbonize this vast sector.