The correct answer is: it creates elation.
A hyperbole is a literary device or figure of speech, where the author uses exaggeration or overstatement to create a dramatic impact for the readers. In this quotation, the author states that those who choose to settle in New York City experience a great sense of happiness and excitement when they first settle there. When he states that "...each generates heat and light to dwarf the Consolidated Edison Company” he uses hyperbole (exaggeration) to make his point- new settlers in New York are so happy and excited that generate light and heat akin to what an electricity company (Consolidated Edison Company) does.
