The Regional Greenhouse Gas Initiative (RGGI) is making a difference for New England and Mid-Atlantic households, small businesses, farms, and industry.
A report issued in November 2012, estimates that RGGI investments will offset the need for more than 27 million megawatt hours of electricity generation and 26.7 million British Thermal Units (BTUs) of energy generation. This savings will help avoid the emission of 12 million short tons of carbon dioxide pollution, an amount equivalent to taking 2 million passenger vehicles off the road for one year.
In addition to their environmental impact, RGGI investments have also had a positive impact on consumer energy bills and the regional clean energy economy.
The report found that, from 2009 to 2011, RGGI investments:
Directly benefited 2.9 million households and 7,400 businesses.
Generated an estimated $1.3 billion in lifetime energy bill savings for utility customers.
Returned $69 million in bill credits to an estimated 84,000 low-income families.
Helped an estimated 2,400 workers secure training in clean energy job skills.
Overall, the program has powered a $617 million investment in the region’s energy future: reducing energy bills, helping businesses become more competitive, accelerating the development of local clean and renewable energy sources, and limiting the release of harmful pollutants into the air and atmosphere, while spurring the creation of jobs in the region.
The report is based on each state's plan for the investment of CO2 allowance proceeds and on evaluations of strategic energy programs.
To read the report executive summary and full report, follow the links below: