Quietly, and apparently unsuccessfully, the Hochul administration realizes what many people have been saying for years – the 2019 Climate Stewardship and Community Protection Act is going to cost a bundle.
Gov. Cathy Hochul quietly began trying to reduce those costs during 2023-24 state budget consultations at the end of the week, but those efforts have been abandoned, according to a report from Politico this week. Hochul was trying to convert New York’s accounts for its emissions from a 20-year basis to a 100-year basis. New York and Maryland are the only two states that use a 20-year basis to calculate emissions.
why does that matter?
“Under a 20-year time frame, each ton of methane emitted is calculated to be equivalent to approximately 80 tonnes of carbon dioxide (CO2), while on a 100-year basis, each ton of methane is equivalent to only 25 tonnes of CO2. .Understood this way, it is easy to see that eliminating the equivalent of 80 tons of CO2 is more expensive than eliminating only 20 tons’ worth. And barring some other creative policy making, these costs are passed on to consumers. likely to go. James Hanley of the Empire Center for New York State Policy wrote this week. “This delayed recognition of the climate act’s consumer costs reflects the state’s failure to seriously address from the outset how the legislation could impact New Yorkers’ wallets.”
Those costs, according to a news release by Sen. Tom O’Mara, R-Elmira, were detailed earlier this week by state DEC Commissioner Basil Segos in a Capital Tonight interview with Susan Arbater, and include an 80% increase in the cost of the home. Growth may be included. 62 percent increase in heating costs and gasoline prices.
Sen. George Borrello, R-Sunset Bay, has been a co-sponsor of legislation for the past two legislative sessions that would require a full cost-benefit analysis of renewable energy systems because he is concerned that implementing the CLCPA will harm state residents. Billions of dollars may have to be spent. Convert your homes from natural gas to electric heating and cooking for a year in increased taxes, utility rates and costs. The legislation hasn’t been out of committee since early August 2021, but the Hochul administration is concerned about the cost.
Segos, co-chair of the New York State Climate Action Council, and Doreen Harris, president and CEO of the New York State Energy Research and Development Authority, wrote a guest essay published by the USA TODAY Network earlier this week that outlines the administration’s thinking. The change was explained. The Climate Stewardship and Community Protection Act says it accounts for emissions differently than most other states and countries and includes no cost analysis when passed in 2019.
Hochul, who was lieutenant governor when the CLCPA was passed in 2019, decided now was the time to look at the consumer cost impacts.
“As it stands today, the Climate Act’s emissions accounting method is sure to be a major driver of future costs for New York households,” Segos and Harris wrote in their guest essay. “As governors and legislatures continue to negotiate state budgets, proposals to limit potentially significant consumer costs deserve consideration. Fighting climate change won’t work if people and businesses can’t afford it. Burdensome The cost will impede needed climate progress. For our climate action plans to be successful, our state’s climate leadership must be affordable to all.”
Legislation to change the accounting method from 20 years to 100 years has been introduced (A.6039/S.6030) by Assembly Member Didi Barrett, D-Hudson, and Sen. Kevin Parker, D-Brooklyn. Barrett and Parker say in their legislative justification that one reason to reorder emissions accounting is clean energy investors and developers have expressed reluctance in New York to undertake initiatives that qualify for the Inflation Reduction Act and other federal incentive programs. Because the state’s greenhouse gas accounting system creates compliance barriers that do not exist in other states where these investors and developers would potentially be attracted. They say it is costing the state access to $10 billion in the form of incentives and tax credits.
“The CLCPA’s accounting metrics set New York State apart from the rest of the world. This will have massive consequences on so many levels, for our consumers, ratepayers and local economies. Senate and Assembly Republicans have always maintained that a proper cost-benefit analysis was never done with this plan, that we are moving too fast to implement the CLCPA and that it will not be viable, affordable, or reliable. . It appears that Governor Hochul and some Albany Democrats finally agree, although pushback is already underway and so let’s hope it’s not too late for common sense to gain a foothold in this government.” O’Meara said.