U.S. Rep. Diana DeGette has introduced a detailed bill to reduce greenhouse gas emissions from the power generation sector to zero by the year 2050 through the use of a credit purchasing system.
“The science is clear, the only way to avoid the worst effects of the climate crisis is to take steps now to cut our carbon emissions,” said DeGette. “At the same time, we need to ensure the steps we take to do that also continue to provide Americans with the affordable, reliable electricity they need.”
The Clean Energy Innovation and Deployment Act would give credits to power generators for every megawatt-hour of electricity produced without creating carbon emissions and for removing carbon from the atmosphere. Companies that do not meet the target of zero emissions by 2050 could purchase credits from companies that do.
A Clean Energy Deployment Administration would oversee investments in renewable energy, including through grant programs and tax credits. Also, an Energy Workforce Transition Office will assist workers in the fossil fuel industry to move to other careers, and a Climate Resiliency Corps will help communities construct infrastructure that adapts to the effects of climate change.
The bill has endorsements from Xcel Energy, the National Wildlife Federation and speaker of the Colorado House of Representatives K.C. Becker, among others.