Report Calls for Carbon Pricing to Advance NY Clean Energy
To comply with FTC regulations, all links could lead to commissions paid to the publisher. Please see Advertising Disclosure in sidebar.
ALBANY, N.Y. – Including the cost of carbon pollution in New York’s electricity market would help the state meet its clean energy goals, according to a new report.
Carbon pricing would add the social cost of carbon pollution, including health and climate impacts, to the wholesale price of electricity from producers that make that pollution.
Anne Reynolds, executive director of Alliance for Clean Energy New York, the group that authored the report, says that would increase the wholesale cost of electricity from those providers.
“So, they would have to bid in at a higher level, which means they would operate less,” she points out. “And revenues would go up for generators that don’t make that pollution, like wind and solar power.”
FREE DIGITAL SUBSCRIPTION: GET ONLY 'FEATURED' STORIES BY EMAIL
Big Tech is using a content filtering system for online censorship. Watch our short video about NewsGuard to learn how they control the narrative for the Lamestream Media and help keep you in the dark. NewsGuard works with Big-Tech to make it harder for you to find certain content they feel is 'missing context' or stories their editors deem "not in your best interest" - regardless of whether they are true and/or factually accurate. They also work with payment processors and ad-networks to cut off revenue streams to publications they rate poorly by their same bias standards. This should be criminal in America. You can bypass this third-world nonsense by signing up for featured stories by email and get the good stuff delivered right to your inbox.
Reynolds says a Carbon Pricing Proposal from the New York Independent System Operator would allow the state to achieve its clean energy goals at the lowest cost to consumers.
Reynolds notes that carbon pricing is similar to the approach taken by the Regional Greenhouse Gas Initiative. But instead of selling pollution credits, carbon pricing factors the cost of pollution directly into the market price of power that’s generated by burning fossil fuels.
“This is a way to attract renewable energy developers, builders, investors to New York State, because they would be realizing some benefit from being ‘clean generation,'” Reynolds explains.
Reynolds adds that if New York initiates this first-in-the-nation carbon pricing plan, it also would save the state money in meeting its goal of 70% renewable energy by 2030.
Reynolds points out that the grid operator, not the state, would administer the carbon pricing plan. The state’s role would be to set the cost of carbon based on a social cost estimate created under the previous presidential administration.
“New York has used that number in other environmental programs,” she points out. “So, they would have to make the decision to set that price of carbon and then, the grid operator would go ahead and implement the program through their markets.”
The report says with state support, the plan could be implemented quickly and cost-effectively with little to no consumer impact.
Get great news content like this for your business website. Search engines love sites with frequently updated quality content and reward them with better search rankings. Get High Quality Content Updates for your site.