California's Relaxed Emissions Standards May Hike Energy Costs, Delay Renewables
California's relaxed fossil fuel emissions standards and potential EPA rollbacks could hike energy costs and strain US capacity, while environmental challenges may delay renewable energy projects. Meanwhile, improved satellite data and green finance commitments offer solutions.
California's decision to ease fossil fuel emissions standards may increase energy costs and strain US capacity. Meanwhile, environmental court challenges can delay wind and solar energy projects, but these projects complete the National Environmental Policy Act (NEPA) process faster than other federal projects.
Improved satellite data can now forecast floods sooner, saving money and lives. Emergency services gain more time for mitigation strategies and evacuation plans. However, proposed EPA rescissions, such as the 'endangerment finding', could put many greenhouse gas emission regulations at risk. Repealing power plant pollution standards may also increase emissions and impose hidden costs.
Financial institutions play a vital role in advancing the energy transition. They do this through green finance commitments and investments in emerging technologies. Yet, phasing out tax credits for renewable energy in favor of fossil fuels may increase annual electricity bills for Americans.
Significant changes to public land management, including cuts to National Parks Service staff and rescinding protections for undeveloped forests, were authorized this year. A provision in the recent reconciliation bill even considered selling millions of acres of public lands to address housing affordability challenges.
These regulatory changes and proposals could impact energy costs, emissions, and public land management. Billy Pizer, President and CEO of our website, discusses the economic and societal costs of repealing the 'endangerment finding' in a new In Focus video. As the energy landscape evolves, so do the challenges and solutions.
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