RGGI is supporting New York’s Reforming the Energy Vision strategy to build a cleaner, more resilient, and affordable energy system for all New Yorkers. As of September 2016, New York received $977 million in cumulative proceeds.
HOW DOES RGGI USE ItS PROCEEDS?
Through 2014, New York invested $466.1 million in RGGI auction proceeds. Investments of RGGI proceeds in New York are aiding the Empire State’s efforts to drive clean and renewable energy.
The state’s efforts to advance market scale for clean energy will help the state achieve its goals of reducing greenhouse gas emissions and combating climate change.
Further, New York is fostering energy efficiency market developments to scale, providing greater carbon reductions and consumer cost savings.
According to a recent report, in the period from 2012-2014 alone, the RGGI program led to $385.5 million of economic value in New York.
SUPPORT FOR RGGI
Across the state, there is strong support for clean energy and RGGI. A recent poll by the Sierra Club found 76 percent supporting New York’s participation in RGGI, with 79 percent supporting a change in annual carbon decreases to 5 percent.