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April Economic Snapshot: Energy and the Environment in New York City

 |  NYCEDC

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By Kristina Pecorelli, Senior Project Manager, Economic Research and Analysis 

Global climate change is widely considered one of the greatest challenges of our time.

In a report released earlier this year, the New York City Panel on Climate Change (NPCC) predicted that NYC will experience rising temperatures and heavier rainfall over the coming decades. When coupled with rising sea levels, this may put NYC's infrastructure and economy at increasing risk.

As a result, the current administration has pledged to reduce greenhouse gas emissions by 80% over 2005 levels by 2050—the largest city in the world to commit to such a goal.

In the April 2015 Economic Snapshot, we examine the costs of the status quo, the extent to which NYC has invested in alternative energy sources, and the environmental impacts.

co2 chart

The figure above depicts the relative sources of greenhouse gas emissions in NYC in 2013. 

More Report Highlights

  • Solar power generating capacity in NYC has grown from less than one megawatt (MW) in 2006 to 35.7 MW today.
  • Solar installation companies employ approximately 2,740 workers in NYC.
  • A new solar power facility planned for Staten Island will increase the city’s renewable energy capacity by 50%—enough to power 2,000 homes.

Read the April 2015 Economic Snapshot to learn more about New York City’s energy outlook.

april chart

As seen in the figure above, the city has dramatically reduced emissions in many of these areas relative to 2005 benchmarks.

For all other economic reports, visit our economic data archive on the Economic and Research Analysis page.

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