Section 48 of the Internal Revenue Code currently includes a 30% ITC for solar PV systems, fuel cells, small wind and some other technologies. The ITC allows those who install clean energy assets to subtract 30% of the project(s) value from federal income taxes owed. This 30% ITC significantly raises the economic value of renewable and clean energy projects -- both those pursued through capital purchase and those financed through leases, power purchase agreements, shared savings agreements, etc.
As we discussed in last week’s blog post, Intro 1253 will have operational and financial impacts on buildings throughout the five boroughs, in all sectors. As originally conceived, Intro 1253 targets buildings larger than 25,000 square feet and requires them to meet certain emissions caps beginning in 2022. The bill is set to be passed on Earth Day.
Carbon taxes are coming, and they’re coming fast!
Last week, the NYC City Council released an updated draft of Introduction 1253, a new bill that is likely to be passed into local law. If passed, this legislation will be the nation’s first legislative cap on carbon emissions. It is a part of NYC’s commitment to reduce greenhouse gases (GHGs) by 80% by 2050 (the 80x50 program).
Gotham 360 was very pleased to participate as a Bronze Level sponsor at the 2018 AASHE conference in Pittsburgh, PA. Our team joined sustainability leaders from across North America to exchange ideas, impacting transformative actions that are within sustainability, higher education and surrounding communities.
The Board of Trustees of New York's Barnard College, a women's college affiliated with Columbia University, recently voted to divest from energy companies that deny climate change who are currently within the college's $286 million endowment.
Barnard students have pressed the college to establish a broad divestment pledge, a movement that in the last five years has grown to campuses across the country. Last year, a committee of Barnard trustees, faculty, and students endorsed a proposal that would divest from only fossil fuel companies that seek to deny climate science or thwart efforts to mitigate the impact of global warming.
Gotham 360 was founded in 2007 when CEO Jennifer Kearney catapulted her expertise of the energy industry into running a full-service energy consulting and management firm. With over 30 years of combined experience, Gotham 360 has since become an influencer in the field of energy management & sustainability, working with companies to source the most innovative and cost-effective solutions available.