New Jersey Legislature Recognizes SCC as “Accepted Measure” for Cost of Carbon Emissions
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Application
Zero Emission Credits Program
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Date
May 2018 -
Details
New Jersey enacted a ZEC program similar to those in New York and Illinois as part of a larger bill on renewable energy, energy storage, and energy efficiency.
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SCC Value(s)
While the bill stipulates that the value of ZECs would be lower than the SCC, it acknowledges that “[t]he social cost of carbon, as calculated by the U.S. Interagency Working Group on the Social Cost of Carbon in its August 2016 Technical Update, is an accepted measure of the cost of carbon emissions.”
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Reference
Not yet available
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Legal Authority
- Assembly Bill 3724; Senate Bill 2313
- New Jersey Revised Statues, Title 48 C.48:3-87.3.b(8)
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