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.
On October 27, Urban Green hosted developers of two projects with one goal: inject New York City with an unprecedented amount of clean electricity. Thanks to NYSERDA’s Tier 4 program, Clean Path NY and Champlain Hudson Power Express have the chance to deliver 18 million MWh of renewable energy to the city. Developers of these transformational projects came together to discuss New York City’s role in meeting statewide climate goals and to share their plans to clean up the power grid.
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.
New York plans to build two new major electricity transmission lines to help the state meet its ambitious climate goals, which include getting 70 percent of its power from renewable sources by the end of the decade.