Energy efficiency is investment

To the editor:

(re: “Moving backward in real estate,” March 23)

In viewing compliance with Local Law 97 as an expense, Lou DeHolczer is not alone.  However, LL97 compliance can be better seen as an investment. 

An example people will be familiar with is the light bulb. It is more expensive to buy an LED than another bulb. But given energy savings and longer life, in the long run, LEDs are a much better value.

Some 80 percent of buildings are already in compliance for 2024, and the next reduction in emissions allowance is 2030. Emission reductions accompany reduced use of utilities, thus there is a financial payback. 

Technology today is making great strides in efficiencies and energy recovery. The price of solar is a fraction of what it was a few years ago.  The Inflation Reduction Act provides valuable incentives, and there are other incentives available as well. 

Green loans — such as PACE — can provide upfront financing for technologies that will pay for themselves through energy savings. 

Climate change is real. It may take some research effort on the part of co-op boards and other building owners, but with technology now available, it is possible to reduce emissions, improve resident comfort, and save money all at the same time.

Ed Yaker