620 East 5th Street may pay $12,240/year in fees starting in 2030
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Why is this property expected to pay a fee beginning in 2030?
- Beginning in 2030, NYC drops the emissions cap by 40%.
- At the same energy use, this property will be 46 tons over the cap, a $12,240 penalty.
0Cap: 188 tons
What is the estimated penalty for 620 East 5th Street right now?
$0/year
- 620 East 5th Street is 49 tons under the emissions cap.
- So it may not owe a penalty.
0Cap: 311 tons
How will this property’s penalty change in 2030?
- The emissions cap will be lowered by 40% in 2030, from 311 to 188 tons.
- A cleaner grid cuts emissions from 263 to 233 tons by 2030. Current trends put it 46 tons over the cap, up from 0.
How much would the building need to cut its emissions to avoid the penalty?
20% less emissions than today
How reliable is this estimate?
- This is a planning estimate, not the city's official number.
- Owners report their own energy use, and reports can have mistakes.
- The city makes the final call.
- ✓Energy use comes from the building's own 2024 report to the city
- ✓Emissions rates for 2024 to 2029 match the law
- ✓Emissions rates for 2030 on match the city rule
- ✓The property type is matched to the city's category
- ○The compliance route the city assigns is not confirmed
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