Albany – This week the
state’s premier carbon abatement program, the Regional Greenhouse Gas
Initiative (RGGI), had another record-setting auction, as the
third of four
auctions of this fiscal year raised over $115 million for the
nine-state coalition, including another $44.3 million for New York
State. A new record high price on carbon allowances was set at $7.50
each; in
December 2014, the value was $5.21 per
allowance, and in December 2013, was $2.92 per allowance – a 256 percent
increase in just two years.
The first three auctions
of the fiscal year have collectively raised $135 million for energy
efficiency and clean energy projects through the New York State Energy
Research and Development
Authority (NYSERDA), $7 million higher than projected with another auction
remaining. To date, the 30 RGGI auctions have collectively delivered $895 million for New York.
This week’s auction happened as world leaders convene in Paris to
hammer out
a global climate action plan, the U.S. Congress continued to attack
the Clean Power Plan, and Governor Andrew Cuomo embraced codification
of the State’s clean energy goals to make them a requirement.
Conor Bambrick, air &
energy director for Environmental Advocates of New York said, “When
RGGI began, the coal, oil, and gas industries predicted absolute
doomsday. We knew they were wrong,
and the difference between their scare tactics and reality could not be
starker. In fact, many of the one-time foes of the program are now
supporters because RGGI has resulted in cleaner and healthier air, a
growing green economy, consumers wasting less on
energy costs, and people going to work in fields like solar energy
development.”
Bambrick added, “Since
2008, RGGI has raised $895 million; money that the state has tapped into
for thousands of energy efficiency and clean energy projects, which can
be found in every county
and legislative district in the state. As Governor Cuomo and
legislators proceed with codification of the state’s clean energy and
carbon abatement goals in 2016, their whole-hearted support for RGGI’s
growth will be a crucial part of our success.”
Source: Environmental Advocates of New York
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