Put a fair price on carbon pollution.
The Act will put a price on carbon that accounts for the pollution it creates. The fee, paid for by the companies that sell fossil fuels in Rhode Island, will raise $140 million in just the first year to fund climate resilience, renewable energy, energy efficiency, and climate adaptation in the state.
Rebates from the fee on carbon pollution are returned to Rhode Islanders.
Every family, business, and institution in Rhode Island will receive a rebate per person to protect against the additional costs that fossil fuel companies may pass along to energy consumers. These rebates will help make sure that many families and businesses--especially low-income residents and those that make sustainable choices--come out ahead.
Create the Energize RI Fund.
The Fund will invest in Rhode Island’s burgeoning green economy by creating jobs in renewable energy and weatherization, funding green infrastructure development, and expanding access to energy efficiency for under-resourced Rhode Islanders and small businesses. An oversight board of community representatives will ensure that the Fund goes towards equitable, efficient, and impactful projects in the state.
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The Energize RI Act will safeguard the future of our state by providing good jobs and reducing carbon pollution. The Act will create around 1,000 jobs in the first two years and will continue to provide a steady source of jobs in the green economy as the carbon price increases. The fee on carbon pollution, coupled with investment in renewable energy and climate resilience, will also help us reach RI’s environmental goals by significantly reducing our carbon emissions over the next two decades.