About New York
New York is a leader, not only in the United States but also globally, in driving transformative energy and climate action for the built environment. Nearly 70 per cent of the city’s greenhouse gas emissions come from buildings, and while federal support may fluctuate, New York’s high ambitions and commitments remain firm.
Despite recent uncertainty surrounding US economic policy, American investors, property owners and state representatives continue to push a progressive agenda for innovative energy and resource efficiency solutions.
Both New York State and New York City have adopted ambitious climate policies aimed at increasing energy efficiency and decrease carbon emissions in commercial, institutional, industrial, and/or multifamily buildings, offering excellent business opportunities for Swedish technology providers who can advance these goals.
Opportunities for Swedish energy innovators
New York City’s more than one million buildings are responsible for nearly 70 percent of the city’s greenhouse gas emissions – an astonishing figure that highlights the importance of decarbonising buildings through energy efficiency and electrification. The vast majority of the buildings were constructed before energy codes were introduced in the 1970s, meaning they were not designed with energy efficiency in mind. In fact, most building stock still relies on fossil fuels for heating and hot water, making the transition to clean, resilient buildings essential for dramatically cutting city-wide emissions
In 2019, New York City passed the Climate Mobilization Act, whose centerpiece, Local Law 97 (LL97) requires about 50,000 large buildings to cut emissions 40 percent by 2030 and 100 percent by 2050. This groundbreaking legislation stands as one of the most ambitious emission reduction plans in the U.S.
New York’s progressive legislation, Local Law 97 passed in 2019, requires most buildings over 25,000 square feet to significantly reduce their emissions with 40 percent by 2030 and achieve net-zero emissions by 2050. Owners must submit annual emissions reports and may face fines. Local Law 97 encourages retrofits and energy efficiency upgrades. At the same time, demand for efficient and innovative energy solutions is being driven by developments in electrification and AI, which are increasing energy demand exponentially.
Furthermore, shortly after the passage of Local Law 97, New York State enacted the Climate Leadership and Community Protection Act (CLCPA), which sets even more ambitious clean energy goals, mandating that 70 percent of the state’s energy come from renewable sources by 2030 and 100 percent clean energy by 2040.
A bold path to a fossil-free future
The combination of city and state legislation underscores New York’s commitment to a clean and resilient energy future and paves the way as a model for other cities and states to follow in their building decarbonisation journey.
New York is the world’s 9th-largest economy and with a strong economic growth and thriving innovation industries it is consolidating its position as a global leader in the Green Economy. In addition to being a leading real estate market, New York City has also become a global hub for urban innovation, facilitating spearheading pilot programs, field demonstration opportunities and state-of-the art property projects.
The city is the second hub for venture capital activity globally after the Bay Area in California and is a strategic gateway for international companies seeking a foothold in the U.S.
Sweden and New York share bold ambitions for fossil-fuel free operations and net-zero greenhouse gas emissions and Swedish energy and climate solutions for low-carbon buildings are well aligned with the pressing needs of the New York and U.S. markets. Skyline aims to connect Swedish innovators with New York changemakers to explore collaborations that advance energy and climate goals.
Examples of solutions in demand
- Building electrification solutions
- Energy efficiency solutions
- Low-carbon heating and cooling solutions
- Ventilation solutions
- Smart building solutions for operational efficiency and resiliency
- Real-Time Energy Management and controls and monitoring systems
- Building envelope solutions
- Low embodied carbon building materials
- Plumbing and water solutions
- Heat and energy recovery solutions
- Buildings as a distributed energy resource and occupant interaction
- Thermal storage solutions for load flexibility and energy efficiency