New York City restricts new buildings from natural gas usage
Real Estate

New York City restricts new buildings from natural gas usage

New York City has stopped several new buildings from using natural gas after lawmakers voted to make it the most populous city for climate-change-fighting policy.

On signing the measure by the Democratic Mayor, Bill de Blasio, the construction projects submitted for approval after 2027 will have to use something else other than gas or oil for electricity, heating and cooking. A few small buildings would have to be considered in 2024.

Hospitals, commercial kitchens and other such facilities would remain exempt.

It is a necessary step to reduce global warming. Heating, cooling and powering buildings contribute 70% of the city's carbon emissions and other greenhouse gasses.

Furnaces and stoves would use natural gas and other fossil fuels for electricity. The measure will keep tons of carbon dioxide out of the atmosphere over time. The city expects 70% renewable energy requirement by 2030 and about 30% now.

In 2019, Berkeley, California, proposed to ban gas hookups for new buildings. This proposal is facing a challenge from a restaurant association, but San Francisco, Seattle and other US cities have followed it.

Arizona, Oklahoma and Texas have restricted the cities from enacting such laws.

As per the New York Independent System Operator, New York City shifts to electric vehicles, furnaces and appliances, expected to make a long-term upward pressure on electricity usage.

The state expects increased demand for wind and solar power to meet the renewable energy targets and growing renewable demand.

The Real Estate Board of New York said that it knows the importance of shifting away from fossil fuels, but these measures should be implemented to ensure reliability, affordability and carbon-free electricity.

Many real estate companies said that electric heat pumps that transfer heat indoors and outdoors need additional time for development.

According to environmental groups, electricity does not need to be expensive, but it is the opposite of some new, energy-efficient buildings. The prices of natural gas have also increased this year.

A Democrat of Black Brooklyn district said that the lawmaking also aims to reduce air pollution on behalf of the communities of color.

Image Source

New York City has stopped several new buildings from using natural gas after lawmakers voted to make it the most populous city for climate-change-fighting policy. On signing the measure by the Democratic Mayor, Bill de Blasio, the construction projects submitted for approval after 2027 will have to use something else other than gas or oil for electricity, heating and cooking. A few small buildings would have to be considered in 2024. Hospitals, commercial kitchens and other such facilities would remain exempt. It is a necessary step to reduce global warming. Heating, cooling and powering buildings contribute 70% of the city's carbon emissions and other greenhouse gasses. Furnaces and stoves would use natural gas and other fossil fuels for electricity. The measure will keep tons of carbon dioxide out of the atmosphere over time. The city expects 70% renewable energy requirement by 2030 and about 30% now. In 2019, Berkeley, California, proposed to ban gas hookups for new buildings. This proposal is facing a challenge from a restaurant association, but San Francisco, Seattle and other US cities have followed it. Arizona, Oklahoma and Texas have restricted the cities from enacting such laws. As per the New York Independent System Operator, New York City shifts to electric vehicles, furnaces and appliances, expected to make a long-term upward pressure on electricity usage. The state expects increased demand for wind and solar power to meet the renewable energy targets and growing renewable demand. The Real Estate Board of New York said that it knows the importance of shifting away from fossil fuels, but these measures should be implemented to ensure reliability, affordability and carbon-free electricity. Many real estate companies said that electric heat pumps that transfer heat indoors and outdoors need additional time for development. According to environmental groups, electricity does not need to be expensive, but it is the opposite of some new, energy-efficient buildings. The prices of natural gas have also increased this year. A Democrat of Black Brooklyn district said that the lawmaking also aims to reduce air pollution on behalf of the communities of color. Image Source

Next Story
Infrastructure Urban

MAN Industries to Raise Rs 3 Billion Via Equity and Warrants

MAN Industries (India) Ltd. has announced that its Board of Directors has approved a capital raise of up to Rs 3 billion through a preferential allotment of equity shares and convertible warrants. The move, subject to shareholder and regulatory approvals, aims to fund the company’s expansion projects and strengthen its balance sheet.The proposed allotment includes the issuance of 1.22 million convertible warrants to promoter group entity Man Finance Private Limited at Rs 328 each (inclusive of a Rs 323 premium), aggregating to approximately Rs 400 million. Each warrant will be convertible in..

Next Story
Infrastructure Urban

PTC Industries Reports 45% Rise in FY25 Profit

PTC Industries Limited, a manufacturer of high-precision metal components for critical and super-critical applications, reported robust financial results for the fourth quarter and full financial year ending 31 March 2025.For Q4 FY25, the company’s total income surged 74.9 per cent year-on-year to Rs 1.34 billion, compared to Rs 765 million in the same quarter last year. EBITDA rose by 56.5 per cent to Rs 406.2 million, while Profit After Tax (PAT) stood at Rs 245.7 million, registering a 67 per cent increase.For the full year FY25, total income reached Rs 3.42 billion, up 26.6 per cent from..

Next Story
Infrastructure Urban

NACDAC Reports 34% Revenue Growth in FY25

NACDAC has reported a strong financial performance for the fiscal year ending March 2025, with revenue from operations reaching Rs 48.58 billion, up 33.84 per cent from Rs 36.30 billion in FY24. EBITDA rose 36.10 per cent year-on-year to Rs 6.76 billion, while profit after tax increased by 38.97 per cent to Rs 4.14 billion. The company’s net worth more than doubled to Rs 24.29 billion, compared to Rs 11.90 billion the previous year.The company attributes this performance to enhanced execution capabilities through investments in advanced technology, modern equipment, and a skilled workforce. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?