Local Law 55, signed on April 18, 2024, by Mayor Eric Adams, is a groundbreaking legislation mandating the installation of Electric Vehicle Supply Equipment (EVSE) in New York City parking facilities. The law amends the administrative code of the city of New York in relation to requiring parking facilities to install electric vehicle charging stations.
With the signing of Local Law 55, the owners of New York parking facilities like garages and lots will need to ensure their full compliance by January 1st, 2035 - a mere 10 years from now. This shift will have widespread implications for parking-related businesses in New York, from retrofitting costs for existing facilities to new revenue streams through charging fees and increased property value due to enhanced EV infrastructure.
This article will explain Local Law 55 and deep dive into what it means for parking services businesses.
Understanding Local Law 55
New York City has set itself a goal to reduce greenhouse gas emissions 80% by 2050 (compared to 2005 levels) as part of the OneNYC 2050 plan. A significant component of that is introducing sustainable transportation options and empowering the use of electric vehicles.
“In addition to reducing congestion, the City must also reduce the carbon footprint of unsustainable modes of transportation. We will significantly cut GHG and other polluting emissions by building out a citywide network of electric vehicle charging infrastructure, reducing the size and emissions of the City’s fleet, and incentivizing adoption of low and zero emissions vehicles.” (Initiative 26 of 30, page 23)
Reports indicated that towards the end of 2024, New York had over 150,000 registered EVs (42,000+ in NYC). However, they comprise less than 2% of the state’s 11.3 million vehicles. To meet climate goals, NY aims for 2 million EVs by 2030 and 10 million by 2050 - but that can’t be done without the right infrastructure in place.
This is where Local Law 55 comes in - mandating the installation of EVSE in parking facilities to support the growing EV infrastructure needs of the city. This law applies to both new and existing parking garages and open lots with 10 or more spaces.
The key requirements of Local Law 55 state that:
- Existing garages with ten or more spaces must have 20% of spaces equipped with Level 2 chargers and 40% charger-ready. They must be retroactively fitted.
- New or renovated garages must have Level 2 chargers in 20% of spaces and 60% of charger-ready spaces.
- These requirements must be incorporated by January 1, 2035.
Need clarity on Local Law 55 and its implications for your property? Book a free consultation with our team.
Key Timeline & Deadlines:
- April 18, 2024: Local Law 55 enacted
- January 1, 2027: DOB to issue specific enforcement rules for non-DCWP licensed facilities
- January 1, 2035: Final deadline for full compliance across all applicable parking facilities
A Look at Technical Requirements
As noted, the Law states that “20% of parking spots must have Level 2 chargers, while 40% of spots must be ready to support EVs.” So, what’s the difference?
What exactly are Level 2 Charging Stations?
- Level 2 chargers are 240V AC charging units that provide faster charging compared to Level 1 chargers.
- Power outputs typically range from 7kW to 19kW, enabling a full charge for most EVs in 4-8 hours.
- Installation Requirements: Requires a dedicated electrical circuit, proper wiring, and compliance with NYC electrical codes.
What are EVSE-Capable Spots?
- EVSE-capable parking spots are parking spaces that have the necessary electrical infrastructure (e.g., conduit, wiring, and panel capacity) to support future installation of EV chargers
- This ensures scalability and reduces future costs for charger deployment.
The DC Fast Charging Option: The Substitution Rule
There is one workaround: the DC Fast Charging option, a.k.a. the substitution rule:
- Property owners can install one DC fast charger (providing up to 350 kW of power) in place of 10 Level 2 chargers
- This option is capped at replacing up to 50% of required Level 2 chargers
What is the benefit of doing this? These charging stations provide rapid charging (20-30 minutes for an 80% charge), catering to high-turnover parking facilities like commercial lots or transit hubs.
Looking to take advantage of the EV Make-Ready Program? Contact us today to learn more about how we can help.
Government Rebates & Aids in Local Law 55 Compliance
There is a myriad of options set out by the federal and local government to help businesses and individuals with their transition to Local Law 55 compliance. For example:
- Charge Ready NY Program provides $4,000 per Level 2 charging port and is available for public and private organizations installing charging stations
- Federal Tax Credit covers up to 30% of total costs for EV charging equipment and installation, with a maximum credit of $30,000 for commercial properties
The EV Make-Ready Program
The EV Make-Ready Program is the most significant initiative in New York State aimed at accelerating the adoption of electric vehicles by expanding charging infrastructure.
Launched in July 2020, this program has a substantial budget of $701 million allocated through 2025. The primary goal of the EV Make-Ready Program is to support the development of electric vehicle charging stations by covering up to 100% of the electrical infrastructure costs associated with their installation.
Under this program, utility companies work with charging station developers, site hosts, and other market participants to prepare sites for EV charger installations. This includes covering costs for necessary upgrades to the electrical grid, installing conduit, and other “make-ready” work that prepares a site for EV charging stations.
By reducing the upfront costs for charging station installations, the program aims to stimulate private investment in charging infrastructure and make EV charging more accessible across the state.
How Source Forward Can Help
Source Forward offers comprehensive solutions for businesses and property owners looking to stay ahead of the curve with Local Law 55 and the EV Make-Ready Program by helping clients navigate every step of the process to ensure compliance while maximizing value.
From the initial assessment of your property’s specific needs to handling permits, electrical upgrades, and equipment installation, Source Forward manages the entire process with precision and efficiency. Our team works closely with clients to design customized charging station solutions that align with the building’s infrastructure, helping businesses and property owners stay on top of evolving regulations and enhance the appeal of their property.
The benefits of integrating EV charging stations extend far beyond just regulatory compliance, and helps boost property value by offering a modern, in-demand amenity that attracts environmentally-conscious tenants and customers.
As the demand for EVs continues to rise, providing charging infrastructure sets your property apart in a competitive market. Additionally, businesses can boost revenue by monetizing the charging stations, whether through direct charging fees, offering the service as a premium tenant amenity, or even leasing the space to third parties.
In partnering with Source Forward, you’re not only investing in sustainability but also positioning your property as a future-proof asset that generates long-term value.
Ready to get ahead of Local Law 55 compliance? Connect with our experts today to develop a tailored EV charging solution for your property.
