RGGI Would Boost VA Economy and Meet Future Climate Goals
Participating in the Regional Greenhouse Gas Initiative (RGGI) would bring significant benefits to Virginia, according to analysis released today by Acadia Center. Acadia Center has been tracking RGGI since the program’s launch in 2009, and drew on this expertise to arrive at the following key findings:
- RGGI provides a flexible, straightforward mechanism for reducing greenhouse gas (GHG) emissions
- Participating in RGGI would enable Virginia to meet Environmental Protection Agency requirements to reduce GHG emissions from power plants.
- RGGI would raise $2.8 billion by 2030 for Virginia to reinvest in complimentary consumer and climate programs
“RGGI has been successful in the states that currently participate. It is helping to reduce carbon emissions, while offering a demonstrated record of advancing economic development, and saving consumers money on energy,” said Daniel L. Sosland, Acadia Center President.
“RGGI has received significant attention and growing support as a means of reducing climate pollution and helping to protect the state from sea level rise and other damaging effects of climate change,” said Dawone Robinson of Chesapeake Climate Action Network. “This analysis helps show why RGGI is the right solution for Virginia.”
Virginia needs a plan for cutting greenhouse gas pollution from major generators to meet the federal requirements of EPA’s Clean Power Plan. A recent study by the regional grid operator PJM showed that a multi-state program—like RGGI—was the most cost-effective way for Virginia and other PJM states to meet the regulations.
“The RGGI program is well-established and has a track record of results: driving down emissions and bringing in revenue and other economic benefits. The numbers clearly show how much Virginia and other states could gain by joining,” said Stutt.
The current RGGI states have used the majority of revenue raised through the program to invest in energy efficiency and clean energy programs, which have generated $3.40-$3.70 in economic growth for every $1 invested. Revenue can also be used to meet local needs such as adaptation planning or investment in diversifying Southwest Virginia’s economy and retraining its workforce.
For more information see: http://acadiacenter.org/document/va-and-rggi-compliance-with-clean-power-plan/
Contact:
Emily Avery-Miller, Director External Relations, Acadia Center, 617-742-0054 x100, eavery-miller@acadiacenter.org
Jordan Stutt, Policy Analyst, Acadia Center, 617-742-0054 x105, jstutt@acadiacenter.org
Dawone Robinson, Virginia Policy Director, Chesapeake Climate Action Network, 804-767-0372, dawone@chesapeakeclimate.org
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Acadia Center is a non-profit, research and advocacy organization committed to advancing the clean energy future. Acadia Center is at the forefront of efforts to build clean, low-carbon and consumer-friendly economies. Acadia Center provides accurate and reliable information, and offers a real-world and comprehensive approach to problem solving through innovation and collaboration.