HOW does rggi use its proceeds?
Through 2014, Maine invested $37.1 million in RGGI auction proceeds. Nearly all of that (98 percent) was used for consumer benefits, with the majority (85 percent) for energy efficiency improvements that saves $5 for every $1 invested.
Over the lifetime of the investments, programs funded by RGGI proceeds are conserving over 135,000 MWh of electricity (that’s as much power as 22,000 Maine homes use in a year), and lowering participants’ energy bills by more than $62 million.
ENERGY EFFICIENCY PROGRAMS
RGGI provide the majority of funds that Efficiency Maine uses to help Maine homes invest in energy efficiency upgrades that reduce heating oil use and costs. This means helping homeowners invest in insulation, air sealing, high-efficiency heating equipment, heat pumps and more. RGGI-funded Efficiency Maine programs also included a commercial program that helps businesses, schools, hospitals and others lowers heating and electricity costs, as well as a large industrial program that is helping Maine manufacturers and other energy-intensive businesses sustain jobs and stay competitive.
According to a recent report, in the period from 2012-2014 alone, the RGGI program led to $122.3 million of economic value in Maine.