On August 3rd, the EPA finalized its Clean Power Plan regulation that would reduce carbon dioxide emissions from power plants. Under the final rule, EPA would require states to meet CO2 emission targets.
States can use a number of measures to meet those goals, including improving the efficiency of existing power plants, more energy efficiency, switching from coal-fired plants to plants fired by natural gas, and increased renewable energy.
NAR submitted a letter during the public comment period expressing concerns about the proposed regulations and the impact it could have on homeowners through higher energy costs and decreased reliability. This regulation will be the subject of intensive litigation before it is implemented.
In developing its plan, each state will have the flexibility to select the measures it prefers in order to achieve the CO2 emission reduction goals. States will also have the ability to shape their own emissions reduction pathways over the 2022-29 period.
The final rule also gives states the option to work with other states on multi-state approaches, including emissions trading that allow their power plants to integrate their interconnected operations within their operating systems and their opportunities to address carbon pollution.