Pennsylvania House Passes Bill That Would Restrain Participation in Regional Carbon Market

The Pennsylvania House of Representatives on July 8 voted in favor of a bill that would require legislative approval before the state can impose a carbon tax or join a multi-state carbon-trading program. The Department of Environmental Protection is currently in the process of drafting regulations to allow the state to join the Regional Greenhouse Gas...

EnerKnol Carbon Policy Tracking Table Q2 2020

Measures to tackle greenhouse gas emissions have long been a political lightning rod, but mechanisms like carbon pricing are coming up more regularly in legislative sessions and evolving to play a key role in the shift to a low-carbon economy. Keep on top of the latest carbon policy changes by accessing EnerKnol’s Quarterly Carbon Policy...

EnerKnol’s Visual Primer – RGGI Carbon Auction Signals Steady Market Defying COVID-19 Impacts

Prices in the 10-state Regional Greenhouse Gas Initiative’s latest carbon auction rose to the highest since 2015, defying impacts from the COVID-19 pandemic as two more states gear up to join the initiative. Meanwhile, revenues from California’s post-pandemic auction tumbled to $25 million, less than 5 percent of the previous auction proceeds, pointing to a need for reforms for predictable outcomes and a long-term strategy to fund climate programs.

RGGI Carbon Auction Sells Out, Generates $94 Million

The 48th quarterly carbon auction of the Regional Greenhouse Gas Initiative, the nation’s first mandatory cap-and-trade program to cut power sector emissions, sold more than 16.3 million carbon allowances at a clearing price of $5.75. The auction generated about $93.9 million, bringing the total proceeds to nearly $3.6 billion. The clearing price was slightly higher…...

New York Proposes Regulations to Strengthen RGGI Emissions Cap

The New York State Department of Environmental Conservation on April 29 proposed regulations to advance the state’s portion of the 30 percent emissions cap reduction from 2021 to 2030, under the Regional Greenhouse Gas Initiative, or RGGI, which established the nation’s first regional program to cap and reduce power sector emissions. Following the program update,…...

New Jersey Plans to Invest $80 Million Annually From Carbon Auction Proceeds in Emissions Reduction Programs

The New Jersey Department of Environmental Protection, Board of Public Utilities, and Economic Development Authority on April 17 released a three-year plan to invest the proceeds from the carbon auctions held under the Regional Greenhouse Gas Initiative, or RGGI. The state plans to invest an estimated $80 million each year in clean energy and climate…

California’s Climate Investment Reached $2 Billion in 2019: CARB

California’s Climate Investments initiative funded nearly $2 billion in clean air and low-carbon projects implemented statewide in 2019, according to an April 22 press release from the Air Resource Board. Last year marked the program’s single largest annual investment in the state’s priority populations, with more than $1 billion of new projects benefiting disadvantaged and…...

Virginia Governor Signs Legislation Requiring Transition to Carbon-Free Power by 2050

Democratic Governor Ralph Northam on April 11 signed into law the Virginia Clean Economy Act, which sets the state on the path to carbon-free power by 2050. The law replaces the voluntary renewable energy portfolio program with a mandatory standard, and paves the way for an enormous expansion of wind and solar power, and energy…...

EnerKnol’s Visual Primer – New Jersey’s Re-Entry into RGGI Strengthens Case for Regional Cooperation on Emissions

The Regional Greenhouse Gas Initiative (RGGI) expanded from nine to ten member states with New Jersey’s re-entry after almost a decade. Virginia’s Clean Economy Act sets the state to link with the compact in 2021, and Pennsylvania is drafting regulations in accordance with a 2019 executive order that commits the state to join the compact.

RGGI Generates $90 Million in First Carbon Auction After New Jersey’s Re-entry

The 47th quarterly carbon auction of the Regional Greenhouse Gas Initiative, the nation’s first mandatory cap-and-trade program to cut power sector emissions, sold about 16.2 million carbon allowances at a clearing price of $5.65, according to a March 13 news release. New Jersey participated in the auction for the first time in almost a decade…...

EnerKnol’s State Policy Playbook: Virginia Joins Top Tier of U.S. States Advancing Climate Action

Virginia has become the first state in the South to begin a clean energy transition with the passage of a sweeping energy bill that sets the state on the path to carbon-free power by 2050. The law replaces the voluntary renewable energy portfolio program with a mandatory standard, and paves the way for an enormous expansion of wind and solar power, energy storage, and energy efficiency.

Virginia’s Landmark Zero-Carbon Bill Calls for 5.2 Gigawatts of Offshore Wind, 2.7 Gigawatts of Energy Storage

The final version of Virginia’s Clean Economy Act cleared the state’s House of Delegates and Senate on March 7, and now awaits Democratic Governor Ralph Northam’s signature. The legislation codifies the 2050 clean energy goal that Governor Northam laid out in an executive order issued last September. The bill calls for more wind and solar…...