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RGGI Cap-And-Trade Boosted State Economies: Report
Reports show that between 2008 and 2009, these CT programs produced $3 to $4 for every $1 invested. Nearly 2,700 jobs are directly attributed to energy efficiency, with an average employment income of $50,000 per year. ECMB's energy efficient programs also reportedly benefit low-income consumers -- through auditing, weatherization, and retrofitting programs, consumers saw an estimated $6 million dollars in annual energy savings.
If cap-and-trade is truly dead, the Regional Greenhouse Gas Initiative (RGGI) is desperately fighting to resuscitate it.
RGGI was formed by ten states in the Northeast and Mid-Atlantic, focused on reducing CO2 emissions through cap-and-trade programs. RGGI reported this week that state programs have already seen many economic and environmental benefits.
States are expected to sell emission allowances through auctions, and invest their proceeds in consumer benefits. Participating states are reportedly investing, on average, 80 percent of their CO2 allowance proceeds to consumer benefit and energy programs. The report's findings are based on a two-year analysis of program investments, specifically focused on energy efficiency, renewable energy, bill payment assistance, and additional programs.
Overall the report finds that state investments have created jobs, reduced energy costs, and generated high economic returns.
More
Reports show that between 2008 and 2009, these CT programs produced $3 to $4 for every $1 invested. Nearly 2,700 jobs are directly attributed to energy efficiency, with an average employment income of $50,000 per year. ECMB's energy efficient programs also reportedly benefit low-income consumers -- through auditing, weatherization, and retrofitting programs, consumers saw an estimated $6 million dollars in annual energy savings.
If cap-and-trade is truly dead, the Regional Greenhouse Gas Initiative (RGGI) is desperately fighting to resuscitate it.
RGGI was formed by ten states in the Northeast and Mid-Atlantic, focused on reducing CO2 emissions through cap-and-trade programs. RGGI reported this week that state programs have already seen many economic and environmental benefits.
States are expected to sell emission allowances through auctions, and invest their proceeds in consumer benefits. Participating states are reportedly investing, on average, 80 percent of their CO2 allowance proceeds to consumer benefit and energy programs. The report's findings are based on a two-year analysis of program investments, specifically focused on energy efficiency, renewable energy, bill payment assistance, and additional programs.
Overall the report finds that state investments have created jobs, reduced energy costs, and generated high economic returns.
More