State Policy Options to Price Carbon from Electricity

Dallas Burtraw, Karen Palmer, Anthony Paul and Paul Picciano
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Dallas Burtraw: Resources for the Future
Karen Palmer: Resources for the Future
Anthony Paul: Resources for the Future
Paul Picciano: Resources for the Future

No 19-04, RFF Reports from Resources for the Future

Abstract: We examine cap and trade in the electricity sector in North Carolina, Pennsylvania, and in a group of four Midwest states (Minnesota, Wisconsin, Illinois, Michigan).Cumulative emissions reductions of 25 percent can be achieved in the next decade at low cost. Ten percent are accelerated reductions due low allowance prices, suggesting greater ambition is plausible.Policies to directly promote renewables achieve greater use of renewables but fewer emissions reductions than cap and trade. However, renewable capacity can help achieve emissions reductions in the long run. A combination of approaches is possible.We examine “trade ready” program design and a level of stringency that would readily allow linking with the Regional Greenhouse Gas Initiative.

Date: 2019-05-15
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Persistent link: https://EconPapers.repec.org/RePEc:rff:report:rp-19-04

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