RGGI

By |2024-11-15T12:45:40-05:00January 19, 2022|Comments Off on RGGI

REGIONAL GREENHOUSE GAS INITIATIVE (RGGI)

Our Commitment

Maintain Virginia’s carbon reduction policy, and protect the resulting funding for low-income energy efficiency programs, home weatherization, and flood resiliency projects.

THE ISSUE

In 2020, Virginia passed the Clean Energy and Community Flood Preparedness Act, allowing the commonwealth to join the Regional Greenhouse Gas Initiative (RGGI, pronounced ‘reggie’) and establishing the Virginia Community Flood Preparedness Fund (CFPF). RGGI is a market- based program with 11 participating states that generates new funds while reducing electricity sector emissions. This pollution reduction program drives down greenhouse gas emissions which improves air quality and public health while also bringing in desperately needed revenue to help Virginia’s families with energy bills and flood protection.

The Clean Energy and Community Flood Preparedness Act directs 50% of RGGI revenue to low-income energy efficiency programs, 45% to the CFPF, and 5% to administrative costs. In Virginia’s first year of participation in RGGI, the Commonwealth received $228 million from RGGI auctions. These proceeds are already being used to create more energy-efficient, affordable housing units, help low-income families reduce energy bills, and enhance community flood prevention and protection.

RGGI FUNDING

$0
MILLION IN TOTAL FUNDING
$0
MILLION FOR ENERGY EFFICIENCY
$0
MILLION FOR FLOOD FUNDING

Community Flood Preparedness Projects

Community Flood Preparedness Fund grant awards

Low-Income Energy Efficiency Projects

The map, provided by the Virginia Energy Efficiency Council, shows funding for the Affordable & Special Needs Housing (ASNH) program, which is fully funded through Virginia’s participation in the Regional Greenhouse Gas Initiative. These funds ensure that more energy-efficient, affordable housing is available for Virginia’s most under-served communities.

DISCOVER MORE

OUR COMMON AGENDA POLICY PAPERS

NEWS

ROUNDUP: Opposition to RGGI Removal

Hundreds of individuals submitted comments to the Administration in opposition to the RGGI Notice of Intent for Regulatory Action - see what our partner organizations had to say in our Roundup.

ROUNDUP: Governor’s RGGI Report

Governor Youngkin released a Regional Greenhouse Gas Initiative report that provides a cherry-picked analysis to support a partisan effort to repeal Virginia’s participation in the Regional Greenhouse Gas Initiative - despite 67% of Virginians supporting RGGI.

Bill of the Day: Flood Resilience

Virginians are on the frontline of climate change, facing devastating sea-level rise and increasing rainfall. It is critical for Virginia to pass strong flood resilience legislation.

RESOURCES

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