NYC PACE Lending Industry News

NYC's Roofs are Getting a Sustainable Makeover

Written by Industry Leaders | Jan 22, 2020 5:44:00 PM

As of Nov. 15, 2019, Local Laws 92 and 94, known informally as the Sustainable Roof Laws, require most new buildings and buildings undergoing major roof reconstruction to include a sustainable roofing zone on 100% of available roof space. Sustainable roofing zones are defined as "areas of a roof assembly where a solar photovoltaic electricity generating system, a green roof system, or a combination thereof, is installed."While solar incentives are bountiful in New York, financial incentive plans for green roofs are limited to a property tax abatement of $5.23 per square foot of green roof, although alternate options like Property Assessed Clean Energy (PACE) financing also exist.

Read Article Here: Smartcities Dive | Cailley LaPara