NY and NYC Local Submetering Topics

You can make a profit on the redistribution of electric in New York State.

— Tim Angerame , chief operating officer, utiliVisor
Utility Cost Recovery, Profit on Redistribution of Electric, and Submetering Savings

Challenges commercial buildings face in New York state

A benefit of tenant submetering for New York building owners is that they can recoup utility costs as per the lease and profit on the redistribution of electricity costs.

  • The billing methodology is defined by the lease.
  • Depending on the tenant’s lease, there isn’t a cap on the amount of profit you can make on utilities as an owner.

Other advantages of submetering in New York (NY) and New York City (NYC):

  • New York City has complicated leases, driving the need for submetering.
  • Having a third party read and generate the bills for the tenants reduces litigation.
  • New York has many complicated and cumbersome local laws that owners need to be aware of and manage.
  • Many financial incentives require submetering data.
Interested in Submetering Your Building(s)? Learn More About Submetering
Clarity for New York City Building Owners

NYC local laws to reduce carbon emissions

Local Laws 97, 88, and 85 are part of NYC's ambitious efforts to reduce carbon emissions by 80 percent of 2005's level by 2050. 

What Do LL97, LL88, and LL85 Require? Local Law 97 (LL97) Calculator (third-party tool)
Penalties begin in 2024

NYC Local Law 97

In 2024, New York City will enact Local Law 97 (LL97), which sets aggressive new carbon emissions limits for buildings within the 5 boroughs.

Fines for emissions that exceed these new caps will be levied annually, and the limits become significantly tighter in 2030. Approximately 80% of building owners will need to retrofit equipment, initiate energy efficiencies, and incentivize tenants to reduce usage if they are going to bring their buildings into compliance.

If you’re the owner or a tenant of a building or campus greater than 25,000 square feet, your costs will be greatly affected by how soon you begin preparing and implementing your energy efficiency plans. 

What Is the Impact of LL97? LL97 Conversations - Audio Series