TCI is a cap-and-invest program similar to the Regional Greenhouse Gas Initiative (RGGI) that Vermont participates in to reduce carbon pollution from electricity generation. In 2005, Republican Gov. Jim Douglas signed on together with six other Northeast states. Vermont is still a part of it today, and it has been successful in multiple ways. Analysis from Acadia Center shows that since 2008:
- GDP of the RGGI states has grown by 47%, outpacing growth in the rest of the country by 31%;
- Electricity prices in RGGI states have fallen by 5.7%, while prices have increased in the rest of the country by 8.6%;
- RGGI states have generated $3.4 billion in allowance auction proceeds, the majority of which have been invested in energy efficiency and renewable energy programs, including incentives for advanced wood heat and solar panels;
- CO2 emissions from RGGI power plants have fallen by 47%, outpacing the rest of the country by 90%.
Read the full article from VTDigger here.