ARTICLE OF INTEREST: CARBON PRICING, WHAT DOES THIS MEAN FOR YOU?

Posted: February 4, 2020

All around the country localities are pushing policies to enforce the use of cleaner methods of energy consumption. New York has recently proposed a plan called carbon pricing, a system in which plants will be charged for the amount of carbon they release into the atmosphere. The income generated from this would go to low carbon or carbon free resources and the rest would be distributed back to consumers.

This put-a-price-on-it approach is a basic economic theory, if you want companies to utilize less of a given product, make them pay for it. The hope is if the city begins to penalize power plants for releasing carbon into the atmosphere, i.e.: make that action cost the company money, companies will find ways to cleaner energy. Valid arguments on both sides make this a controversial topic not just in New York, but all over the country with states looking to mimic this policy.

Read more about the carbon pricing initiative here.