“How much am I going to have to pay in fines for operating an old, inefficient, steam-heated apartment building?”
“What will my boss think if we replace our heating plant in-kind and then have to rip it out in 10 years to comply with energy laws?”
“How can I keep my new construction developments on track when I can’t get gas?”
These questions speak to the rapid pace of change occurring at the nexus of the real estate and energy industries. Once posed to us perhaps twice a year, we are now hearing variations on these themes daily. New York City’s Local Laws 84/133, 87, and 97, New York State’s Climate and Community Protection Act, and ongoing gas moratoriums in Westchester, the Bronx, and Queens are all creating business cases for electrification that didn’t exist even five years ago.
Many technologies are enabling the shift to all-electric buildings. Here are some of the most promising technologies and how we think they fit here in the Northeast: