A New York Times article today reported that President Obama was readying regulations that will impose carbon dioxide emissions limits on power plants. Carbon standards on existing plants will be so costly, coal-powered facilities in America may be under pressure to close, leaving a huge void to be filled by wind, solar and natural gas. This step would emphasize CGC’s work to continue lowering the price of renewables in order to ensure a more attractive option once the prices of carbon-fuels are on the rise. Coupling these emissions limits with a move to green banks, states will be able to rapidly shift to clean energy without raising consumer prices.
John Broder of the New York Times notes Obama’s reiteration in a recent speech in Berlin that “the United States and the world have a moral imperative to take ‘bold action’ to slow the warming of the planet.” He goes on to say that “Mr. Obama had decided the risks from climate change outweighed the potential economic and political costs from taking steps to address it.” These words symbolize a huge step in the fight against climate change in America, and CGC is excited to be a part of this important social and environmental leap forward.
See the full article here.