How Cap-and-Invest works. The Cap-and-Invest program sets a limit, or cap, on overall carbon emissions in the state and requires businesses to obtain allowances equal to their covered greenhouse gas emissions.

New York State's Cap-and-Invest program is a market-based approach to reducing greenhouse gas emissions by putting a price on carbon pollution, thereby reducing greenhouse gas emissions, encouraging innovation, supporting renewable energy, …

Jan 10, 2025 · Cap and invest will likely push energy prices up somewhat, since New York still relies heavily on oil and gas. In a way, that’s the point: to make fossil fuels less attractive and nudge the economy toward clean energy. Analyses of the programs in California and Washington have found that they’ve raised gasoline prices about 27 cents per ...

Jan 16, 2025 · Governor Kathy Hochul is expected to unveil the program, dubbed “cap and invest,” next week as part of her 2025 agenda, and it could take effect as soon as the end of this year. So what is it?...

New York State is undertaking one of the most ambitious and comprehensive eforts in the U.S. to address the threat of climate change by reducing climate-altering emissions from every sector of the economy and investing in an equitable renewable energy future for all New Yorkers.

Jan 14, 2025 · DEC looks forward to continuing to work closely with NYSERDA, DPS, and our agency partners to advance cap-and-invest and other necessary programs to reach our climate goals, realize the economic impact of the more than $1 billion in new climate funding, and meet the state’s energy demand in a clean, effective, and affordable way.” ...

Jan 13, 2025 · Since 2023, the state has been designing a cap-trade-and-invest (CTI) program to help meet its emissions reduction requirements. CTI would encourage decarbonization by pricing emissions and increasing the costs of using fossil fuels while also subsidizing (the “invest” side) the adoption of low-carbon technologies, such as heat pumps and ...

Jan 10, 2023 · This new Cap-and-Invest Program will allow New York to continue making critical investments in our clean energy future while supporting vulnerable and disadvantaged communities in the face of rising global energy prices.

Nov 28, 2023 · To help achieve the Climate Leadership and Community Protection Act’s (CLCPA) ambitious goal to reduce greenhouse gas (GHG) emissions by 85 percent by 2050, New York will implement a Cap-and-Invest (NYCI) program—an economy-wide carbon pricing initiative to reduce GHG emissions and generate funds for energy efficiency and transition efforts.

Cap-and-trade and cap-and-invest programs ensure emissions reductions attributed to the ‘cap’ on emissions from covered sources at the lowest possible cost. Regulated entities must purchase or obtain allowances equal to the carbon pollution emitted and the cap declines over time, thus reducing emissions.