Connect with us

Hi, what are you looking for?

CleanTechnica
MIT's newly inaugurated David H Koch Institute is expected to save 30% in energy costs and greenhouse gas emissions. About a fifth of the cost was funded by pollution-auction proceeds from cap and trade at the Regional Greenhouse Gas Initiative (RGGI). This very ironic news that David Koch is one of the many beneficiaries of a cap and trade program he bitterly opposes, was broken by Positioning Green writer Jon Coifman at Climate Progress.

Policy & Politics

Cap+Trade Pays for David Koch’s Fossil Fuel Reduction

MIT’s newly inaugurated David H Koch Institute is expected to save 30% in energy costs and greenhouse gas emissions.

About a fifth of the cost was funded by pollution-auction proceeds from cap and trade at the Regional Greenhouse Gas Initiative (RGGI).

This very ironic news that David Koch is one of the many beneficiaries of a cap and trade program he bitterly opposes, was broken by Positioning Green writer Jon Coifman at Climate Progress.

MIT‘s newly inaugurated David H Koch Institute is expected to save 30% in energy costs and greenhouse gas emissions.

About a fifth of the cost was funded by pollution-auction proceeds from cap and trade at the Regional Greenhouse Gas Initiative (RGGI).

This very ironic news that David Koch is one of the many beneficiaries of a cap and trade program he bitterly opposes was broken by Positioning Green writer Jon Coifman at Climate Progress.

Money for all those extras came through MIT’s $14 million campus-wide partnership with their utility, NSTAR. In just 36 months, they plan to cut the university’s energy use 15 percent – enough to power 4,500 Massachusetts homes for a year. The total lifetime payback is expected to exceed $50 million.

It isn’t as if the utility wanted to pay for energy efficiency measures for the billionaire’s building at MIT.

By law, Massachusetts utilities are required to pay for efficiency upgrades whenever the energy savings cost less than building the equivalent amount of new generating capacity.

Other than the 20% that came from polluters like the Koch brothers – through the RGGI cap and trade auctions – ratepayers will pay the rest – just as they do for the equivalent investment in new power plants. And if it wasn’t for the well funded opposition to cap and trade (by fossil fuel interests such as the Koch brothers) polluters would have to pay the larger share.

The Koch brothers have attempted to derail the regional cap and trade programs by installing puppet governors in several states, using proxy front groups like The Tea Party and Americans for Prosperity.

They failed (so far, at least) in New Mexico, where newly installed Susana Martinez acted too hastily and clumsily (previous story) and wound up breaking the law in attempting to reverse course on the Western Climate Initiative, but in New Hampshire, their efforts paid off.

New Hampshire’s newly installed Tea Party House promptly voted to get out of RGGI. ( Another Big Win for Koch Tea Party Funding – New Hampshire Abandons its RGGI Polluter Controls ) While the Governor is a Democrat, the Senate already had a GOP majority and is expected to pass it, and given the new House, it is veto-proof.

The RGGI states use the funds from auctions – of what amounts to fines on polluters (pollution permits), to fund energy efficiency and clean energy for their residents. The money is administered though state and utility programs and funds rebates on everything from more efficient boilers, energy-saving windows and appliances, or solar panels and rocket stoves.

Of $789 million raised by RGGI through last December, more than 50% went to energy efficiency projects. Another 11% went for renewables, and 14% to offset bills for low-income families. Less than 5% went for administrative overhead, although last year, NJ and NY raided 1 or 2% from their RGGI funds to balance state budgets.

Even so, NJ now rivals California in solar installs, RGGI state residents are saving money on energy, greenhouse gases are lower in all ten Northeastern member states – and in four of them, are now below 1990 levels.

It’s great to see at least one Koch brother on the side of a healthy environment, even inadvertently, and through a program he opposes.

Cap and trade: its even good for polluters!

Previous stories


Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Written By

writes at CleanTechnica, CSP-Today and Renewable Energy World.  She has also been published at Wind Energy Update, Solar Plaza, Earthtechling PV-Insider , and GreenProphet, Ecoseed, NRDC OnEarth, MatterNetwork, Celsius, EnergyNow, and Scientific American. As a former serial entrepreneur in product design, Susan brings an innovator's perspective on inventing a carbon-constrained civilization: If necessity is the mother of invention, solving climate change is the mother of all necessities! As a lover of history and sci-fi, she enjoys chronicling the strange future we are creating in these interesting times.    Follow Susan on Twitter @dotcommodity.

Comments

#1 most loved electric vehicle, solar energy, and battery news & analysis site in the world.

 

Support our work today!

Advertisement

Power CleanTechnica: $3/Month

Tesla News Solar News EV News Data Reports

Advertisement

EV Sales Charts, Graphs, & Stats

Advertisement

Our Electric Car Driver Report

30 Electric Car Benefits

Tesla Model 3 Video

Renewable Energy 101 In Depth

solar power facts

Tesla News

EV Reviews

Home Efficiency

You May Also Like

Clean Power

Originally published at ILSR.org Hosting an in-person community gathering may be unthinkable these days, but that is exactly how Hanover, New Hampshire endorsed its...

Buildings

Originally published on ILSR.org Since rooftop solar became possible, electric utilities have struggled to incorporate it into their outdated business model. In recent years,...

Buildings

Originally published on WRI’s Blog. By Devashree Saha, Tom Cyrs and Alex Rudee  The Biden administration has committed to a historically ambitious climate agenda. We can expect a profound...

Clean Transport

El Paso Electric has announced that it filed a Transportation Electrification Plan (TEP) with the New Mexico Public Regulation Commission (NM PRC). Inside of...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.