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Changes in renewable energy regulations, programs and goals put New York City on a path to further solar energy development.
New York City faces unique challenges in meeting its renewable energy goals as a densely populated area with a strong built environment. Despite the challenges, the city is betting big on solar energy with numerous supportive policies, regulatory changes and programs to expand access to solar energy.
TR Ludwig, CEO of Brooklyn SolarWorks, a New York-based installer, shared five ways the city is driving growth in solar energy adoption.
1) City of Yes
The City of Yes program is a broad change in New Yorks urban planning regulations that aims to modernize the city and make it more equitable and respectful of the environment. It has three main facets focused on housing opportunity, economic opportunity and carbon neutrality.
The carbon neutrality portion of the City of Yes program will remove existing zoning hurdles that severely limit how much space on a roof can be covered with solar panels, also known as setback requirements. It will also facilitate the installation of energy storage by relaxing some of the strict zoning laws related to the placement of batteries.
Among other changes, City of Yes is expected to open solar opportunities for more than 3,400 hectares of parking lots throughout New York City. According to Ludwig, these changes offer the possibility of installing solar panels on the roofs of more than 50,000 buildings and more than one million homes in New York.
2) Real Estate Tax Reduction
New York City has increased the tax relief from 20% to 30%. Covers 30% of solar panel installation costs by reducing New York City Department of Finance real estate tax bills incrementally for 4 consecutive years.
This is a tax relief, which reduces the amount of property taxes owed by applying a credit.
3) Local Law 97
Local Law 97, which goes into effect this year, limits emissions from buildings larger than 2,300 square meters, requiring a 40% reduction in emissions by 2030 and 80% by 2050. Those who do not comply must pay fines.
This law dovetails with New York City Local Laws 92 and 94, also known as the Green Roof Law, which requires all new roof construction to include a green roof, a solar panel, or a combination of both.
4) Bonus credit for low-income communities
The Inflation Reduction Act provides at least 30% and up to 70% of the cost of the system installed on a solar project in the form of a tax credit. The Low-Income Communities Bonus Credit program allows credits to be allocated each year for up to 1.8 GW of eligible solar or wind capacity.
5) Job creation
According to Ludwig, economic opportunities in the form of job creation will increase dramatically.
“The citys developers and installers are noticing the increase in demand, and the municipal auditor foresees the creation of 13,000 clean energy jobs in the next 8 years,” said Ludwig.
TR Ludwig is CEO and co-founder of Brooklyn SolarWorks and Brooklyn Solar Canopy Co. and treasurer of the New York Solar Energy Industries Association (NYSEIA). |
