Real Estate & Construction News Round-Up (08/24/22) – Local Law 97, Clean Energy, and IRA Tax Credits

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Pillsbury Construction and Real Estate team discusses recent industry news.

September 26, 2022
Pillsbury's Construction & Real Estate Law Team - Gravel2Gavel Construction & Real Estate Law Blog

This week’s round-up features the intersection of real estate and energy efficiency, including state efforts surrounding clean energy legislation, Inflation Reduction Act tax credits, hotel & hospitality sectors creating sustainable initiatives to reduce carbon emissions, and more.

  • In New York City, building owners try to figure out how to pay for upgrades needed to comply with regulations outlined in Local Law 97 that are intended to fight climate change. (Jane Margolies, The New York Times)
  • Maryland, Massachusetts, and New York approve clean energy legislation, enacting laws to promote electric vehicles as well as wind and solar energy. (ACEEE)
  • The Inflation Reduction Act (IRA), signed into law by President Biden this week, includes expanded tax credits expected to pivot building owners and property developers to make upgrades geared towards energy efficiency. (Jack Rogers, Globe St.)


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