Regional Greenhouse Gas Initiative (RGGI)
The northeastern Regional Greenhouse Gas Initiative (RGGI) is the largest carbon pricing system currently operating in the U.S. RGGI's cap-and-trade system has raised well over $660 million, most of which goes towards state investment in clean energy technologies. All the states in the northeast are involved, except for Pennsylvania. One study found that regional emissions dropped 25-35 percent in 2009, largely due to the RGGI. Since the program's implementation in late 2008, the program has raised $861 million, the vast majority of which has gone towards funding clean energy or energy conservation projects. Energy cost increases as a result of the program have been minimal and it is estimated that the public gets $3-$4 back for every $1 invested.
Commentary
Evidence
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RGGI Saves Money, Jobs
America's only functioning carbon cap-and-trade program is a job generator.
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The Economic Impact of RGGI On Massachusetts
Electricity costs in Massachusetts have fallen since the implementation of the Regional Greenhouse Gas Initiative program.
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RGGI Works--And It Isn't Bad For Business
How America's sole carbon cap-and-trade program really works.
