Rhode Island is a member of the Regional Greenhouse Gas Initiative (RGGI) so has cap and trade control on power plant emissions. They also have joined the Transportation and Climate Initiative, and have joined a select group of TCI states to cap transportation emissions and trade emission permits in a system modeled after RGGI.
The effort to get carbon pricing is supported by a coalition of environment, faith and business groups called Energize Rhode Island.
Earlier Legislative Sessions
SB2188/HB740 Clean energy investment and carbon pricing act of 2017 (Senator Calkin and Representative Regunberg)would impose a fee on CO2 emissions, starting at $15 per ton of CO2, increasing by $5 per ton annually until it reaches $50 per ton. The rate will then increase each year with inflation. 70% of the revenue would be refunded via per capita and per employee rebates to families and businesses, while 28% would be invested in climate resiliency, renewable energy, and efficiency programs.
The bill, if passed, will only take effect if a neighboring state with a population over five million enacts similar legislation. The bill was introduced in the 2016 session.
Last updated February 5, 2019