Everyone is talking about President Obama and the EPA’s ambitious Clean Power Plan. Those in favor of it say it will be a huge boon to renewable energy sources, and those opposed say it will cost the country too much in energy adjustments.
However, the major point many seem to be missing is that each state has individual responsibility for how it will meet the new CPP goals.
First, the EPA has made individualized goals for each state based on its energy production mix. While the country-wide goals have increased in the last year — adding 70 million tons of carbon pollution to the previous plan’s emissions reduction goal — each state has its own reduction level.
To be fair, the EPA is holding each kind of power plant to its own standards, which could make coal, natural gas, nuclear, and renewable plants equal in every state. But the CPP allows each state individualized regulations based on how much of each kind of power the state uses currently.
Now, that’s not to say the states must go through the changes alone. The EPA admits that it took cross-state utilities and power grids into consideration. The CPP allows for the trade of power and emissions, which means interconnected states can work together to achieve the goals.
Finally, the EPA is allowing each state to produce its own plan. The CPP includes a model rule for all the states that offers a cost-effective route that is guaranteed to meet the requirements. However, there is no rule that says any state has to use it.
Each of the lower 48 states must submit a plan by 2018 at the latest, and they will have until 2022 to reach interim goals, then 2030 to reach the final emissions cut. This is an extension of a few years from the original plan, another way the EPA is making the plan more accommodating.
States can begin cutting emissions now, even before they have a final plan, and can use a mix of any kind of cleaner energy — natural gas, nuclear, renewable — to meet the goals.
And believe me when I say every one of those is a viable option, and every one is about to get a boost on the national markets.
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Until next time,
A true insider in the technology and energy markets, Keith’s research has helped everyday investors capitalize from the rapid adoption of new technology trends and energy transitions. Keith connects with hundreds of thousands of readers as the Managing Editor of Energy & Capital, as well as the investment director of Angel Publishing’s Energy Investor and Technology and Opportunity.
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