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Renewable energy credits go on sale this summer, opening a potential loophole in NYC’s building climate law

Starting this summer, NYC building owners can buy renewable energy credits to offset Local Law 97 emissions instead of retrofitting, climate advocates warn.

Renewable energy credits go on sale this summer, opening a potential loophole in NYC’s building climate law
A typical New York City alleyway lined with older and modern buildings — representing the urban landscape where Local Law 97 applies to large structures seeking compliance through renewable energy credits.
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Starting this summer, the owners of New York City’s biggest buildings will get a new way to comply with the city’s marquee climate law without actually cleaning up their buildings, and climate advocates say it could blow a hole in the whole thing. As first reported by City Limits, renewable energy credits are about to go on sale for the first time since Local Law 97 took effect, and building owners can buy them to offset emissions instead of paying to fix their properties.

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Featured image: Courtesy citylimits.org

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