RGGI Benefits Analysis
Synapse conducted a high level analysis to determine the benefits of using the Regional Greenhouse Gas Initiative (RGGI) proceeds to fund energy efficiency programs in the ten participating states. With the benefit of one year of auctions, RGGI auctions generated almost $600 million in proceeds with almost half that amount devoted to energy efficiency. Our original analysis, completed in 2010, found that in states with a focus on electricity energy efficiency programs, the benefits range from $2.17 to $3.76 for every dollar of program cost. Some states chose to fund all fuels programs, whereas other states used their proceeds to fund more traditional electric energy efficiency programs. Our analysis focused on the electricity energy efficiency benefits, but recognized that fuel efficiency programs provide substantial benefits. This analysis was updated in 2012, and includes an evaluation of other fuel programs funded through RGGI.