White Paper: Power Sector Decarbonization in North Carolina
Full Title: Power Sector Decarbonization in North Carolina Author(s): Environmental Defense Fund and Rural Beacon Initiative Publisher(s): Environmental Defense Fund and Rural Beacon Initiative Publication Date: July 30, 2022 Full Text: Download Resource Description (excerpt): North Carolina is seeking to significantly reduce its carbon emissions by accelerating the transition to clean energy in the electric power sector. Electricity is the second leading source of GHG emissions in North Carolina, contributing over one-third of the state’s climate pollution. In October 2021, Governor Roy Cooper signed House Bill 951 (HB 951) into law, which calls for a 70 percent reduction in carbon emissions from the power sector by 2030 and carbon neutrality in the power sector by 2050. This will require new programs and policies to drive transformation in the sector, and critical regulatory reforms to create the right incentives for utility companies to invest in the clean technologies necessary to cut emissions.
This paper demonstrates that, implemented alongside HB 951, joining RGGI can be an integral part of achieving the goals outlined in the new law. Further, informed by actual results observed in the existing RGGI region and supported by key findings of the NC Clean Energy Plan’s “A-1” Report, this paper explores the beneficial interplay resulting from the combination of HB 951 and North Carolina’s potential participation in the RGGI program.