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…...
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.
Democratic Governor Andrew Cuomo on March 16 announced the selection of 21 large-scale solar, wind, and energy storage projects totaling 1,278 megawatts in the state’s latest annual solicitation for large-scale renewable energy capacity. The awards, which represent $1 billion in state investment, include projects that offered bids 23 percent lower than those received three years…...
Democratic Governor Kate Brown signed an executive order on March 10, setting a goal for the state to achieve 45 percent emissions reductions by 2035 and 80 percent by 2050, relative to 1990 levels. The order, which comes after the legislature failed to pass a cap-and-trade bill for the second year in a row, directs…...
A growing number of cities across the U.S. are moving toward electrifying their building sectors and banning natural gas use. The Northern California city of Berkeley passed the first such ban, initiating a wave of similar ordinances as a means to reduce carbon emissions. The movement prompted Arizona to enact the first state law preventing local bans on natural gas, and several other states to introduce bills with similar language.
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…...
Senators Lisa Murkowski, a Republican representing Alaska, and Joe Manchin, a Democrat representing West Virginia, unveiled a bipartisan legislative package on Feb. 27 that compiles more than 50 energy-related measures reported by the Energy and Natural Resources Committee last year. The comprehensive bill supports innovative energy technologies covering a range of topics including energy efficiency,…
The twenty-second quarterly carbon auction held by California and Quebec sold all of the nearly 57.1 million carbon permits offered for current emissions at a price of $17.87 per allowance, above the floor price of $16.68, according to the results released on Feb. 26 by the California Air Resources Board. The current allowance price is…
The Federal Energy Regulatory Commission on Feb. 20 issued a series of orders to narrow the resources exempt from the New York grid operator’s buyer-side market power mitigation rules. The agency dismissed a complaint from the Public Service Commission and the New York State Energy Research and Development Authority seeking an exemption for electric storage…
The U.S. Agriculture Department on Feb. 20 announced a goal to boost biofuel production efficiency and competitiveness to achieve market-driven blend rates of 30 percent of transportation fuels by 2050. The goal is part of a department-wide initiative, which aims to increase farm production by 40 percent, while cutting the sector’s environmental footprint by 50…
The NY Green Bank’s fourth quarter of 2019 was the strongest to date, adding nearly $118 million to its portfolio, according to a Feb. 14 announcement. With portfolio commitments exceeding $909 million, the bank has spurred $2.4 billion in clean energy investments. The bank was established in 2013 to alleviate market barriers, motivating private sector…
Virginia lawmakers passed the Clean Economy Act on Feb. 11 that sets the state on the path to carbon-free power by 2050, establishes a mandatory renewable portfolio standard, adopts an energy storage deployment target, and strengthens energy efficiency requirements. Among the major provisions, the legislation replaces the existing voluntary renewable energy portfolio system program with…
