Yesterday the nine states that participate in theRegional Greenhouse Gas Initiative (RGGI) released a reportthat highlights the continuing success of the nation’s longest-running carbon market. The big takeaway:yes, it is possible to tackle our climate and energy challenges while delivering huge benefits to consumers!
How to cut carbon and save money
Nine New England and Mid-Atlantic states (Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont) currently participate in the RGGI program, which limits power plant carbon emissions. Allowances issued under the emissions cap are auctioned to generate revenues that can be used for a variety of purposes.
RGGI states’ CO2 emissions and GDP. Source: RGGI
The latest RGGI report, which tracks the program’s impact through 2013, is full of good news:
- Together, the RGGI states havecut emissions by 40 percentsince 2005, while their economies have grown a robust 8 percent.
- The $1.4 billion in auction proceeds invested to date will return more than$2.9 billion in lifetime energy bill savingsto more than 3.7 million participating households and 17,800 businesses.
- 比尔的储蓄驱动by investments in energy efficiency, which were also the largest share of the investments. It’s no coincidence thatsix RGGI states are ranked amongACEEE’s 2014 top ten states for energy efficiency.
- Investments in clean energy and direct bill assistance programs also helped save consumers money.
A simple recipe for success
RGGI’s recipe is simple: put a price on a “bad” (carbon emissions) and use the money for “good” stuff like investing in clean energy, energy efficiency, and other measures that help lower consumer electricity bills.
Source: RGGI
In fact, RGGI has been so successful at achieving its goals that the program participants made thedecision to further tighten the emissions cap.By 2020, emissions from the nine RGGI states are projected to be 50 percent below 2005 levels. If that progress continues through 2030, they will collectively beon track to achieve theirClean Power Plangoals.
Among the great stories of how RGGI funds are being used, here’s one that caught my eye: In New York, a little more than$11 million in RGGI proceeds has helped leverage $125 million in private investmentto fund solar energy projects on Long Island. These types of public-private partnerships are exactly what we need to scale up renewable energy rapidly.
你也可以复制RGGI成功的状态
The RGGI states and California have blazed a pathin using a market-based approach to cut carbon, grow their clean energy economies, and benefit consumers.Your state can take advantage of this success too, byjoining existing programs(or rejoining, as the case may be) or creatingnew regional programs. This can also help states meet their Clean Power Plan emission reduction targets.