ABB_id2059
in News Departments > New & Noteworthy
print the content item

Gov. Eliot Spitzer, D-N.Y., has unveiled draft regulations to carry out a regional program that will cut greenhouse gases emitted by New York power plants.

The Regional Greenhouse Gas Initiative (RGGI) is an agreement by 10 northeastern states to reduce greenhouse gas emissions. Under RGGI, participating states will each issue their own regulations and, when fully implemented, RGGI will achieve a 16% reduction in emissions from projected emissions.

Under the draft regulations, a power plant would have to buy enough carbon credits or allowances (one allowance per ton of emissions) to cover its emissions in a flexible, market-based system that are similar to those used to combat acid rain.

Companies will have to buy allowances through an auction for every ton of carbon dioxide they emit. Proceeds from the auction would go toward energy-efficiency programs and renewable energy projects. The program would also provide opportunities for power companies to offset their emissions through other green investments.

Other states participating in RGGI include: Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut, New Jersey, Delaware and Maryland. Each state is given allowances to approximately match current emissions and has discretion to allocate up to 75% of their allowances. Maine and Massachusetts recently published their proposed regulations, which call for an auction of 100% of allowances.

A 60-day public comment period will end on Dec. 24. Public hearings will be held on Dec. 10 in Albany, Dec. 11 in Ray Brook, Dec. 12 in New York City and Dec. 13 in Avon.
The draft regulations are available at: dec.ny.gov.

Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

The Song Remains The Same: AWEA Says Stable Policy Can Protect U.S. Wind Investment

Although the U.S. wind industry added more than four times the amount of wind in 2014 compared with 2013, predictable policy is needed to sustain its long-term success.


High Net-Worth Investors Claim 'All Of The Above' On Energy, Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.

Hybrid Energy Innovations 2015