Tuesday, November 20, 2012

Regional Greenhouse Gas Initiative Report Released: Regional Investment of RGGI CO2 Allowance Proceeds, 2011

Yesterday, the Regional Greenhouse Gas Initiative (RGGI), a "market-based regulatory program . . . [designed] to reduce greenhouse gas emissions . . . among the states of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont," released a report titled, Regional Investment of RGGI CO2 Allowance Proceeds, 2011. The 39-page report available here,
estimates that RGGI investments will offset the need for more than 27 million megawatt hours of electricity generation and 26.7 million British Thermal Units (BTUs) of energy generation. This savings will help avoid the emission of 12 million short tons of carbon dioxide pollution, an amount equivalent to taking 2 million passenger vehicles off the road for one year.
In addition to their environmental impact, RGGI investments have also had a positive impact on consumer energy bills and the regional clean energy economy. The report found that, from 2009 to 2011, RGGI investments:
• Directly benefited 2.9 million households and 7,400 businesses.
• Generated an estimated $1.3 billion in lifetime energy bill savings for utility customers.
• Channeled over $617 million into the region’s clean energy economy.
• Returned $69 million in bill credits to an estimated 84,000 low-income families.
• Helped an estimated 2,400 workers secure training in clean energy job skills.

Related Resources

Regional Investment of RGGI CO2 Allowance Proceeds, 2011 Executive Summary (2012), available at http://www.rggi.org/docs/Documents/2011-Investment-Report__ES.pdf.

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