Virginia Regulatory Town Hall
Department of Environmental Quality
Air Pollution Control Board
Regulation for Emissions Trading [9 VAC 5 ‑ 140]
Action Repeal CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22)
Stage Proposed
Comment Period Ended on 3/31/2023
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1/30/23  5:50 pm
Commenter: Anonymous

RCGI stimulates economic growth

As emissions have gone down in RGGI states, thousands of new jobs have been created in the clean energy industry, and ratepayers are saving money on electricity through improvements in building energy efficiency. There is also potential for cost savings in the transportation sector, where investments in electric vehicles, clean transit options, and efficiency improvements can save money on fuel and vehicle maintenance costs.

The proceeds generated from an allowance auction, called an emission allowance value, can be used to support various policy objectives including investments in energy efficiency, renewable energy, transportation improvements, and consumer bill assistance. Savings on energy bills increase consumer spending, benefitting the state’s economy as a whole. The state can also direct proceeds to benefit priority populations, investing in communities most vulnerable to and overburdened by air pollution. These investments provide emission reductions, consumer savings, and regional job 

CommentID: 208004