40,685,585 CO2 allowances for the first three-year control period (2009-2011) offered in Wednesday’s auction sold at a price of $1.88.

In a parallel offering, the RGGI states also auctioned CO2 allowances for the second three-year control period (2012-2014). A total of 2,137,993 CO2 allowances for the second control period sold at a price of $1.86.

"Wednesday’s auction continues RGGI’s track record of successful implementation," said David Littell, Commissioner of the Maine Department of Environmental Protection and Chair of the RGGI, Inc. Board of Directors. "As we work to advance legislation at the federal level, the RGGI programs continue to be a model for strong national policy, developing best practices for the implementation of cap-and-trade programs."

Proceeds from all the RGGI auctions now total more than $662.8 million. States are investing these proceeds in consumer benefit programs that further reduce emissions, save consumers money and create jobs. Overall, states are investing the vast majority of proceeds to improve energy efficiency and accelerate the deployment of renewable energy technologies.

"Every dollar invested in energy efficiency and renewable energy advances the clean energy economy," said Amey Marrella, Commissioner of the Connecticut Department of Environmental Protection. "RGGI states are putting auction proceeds to work in innovative programs to secure a cleaner environment, save consumers money and put people back to work."

Overall, states are investing roughly 60 percent of the proceeds from RGGI CO2 allowance auctions in energy efficiency, the most cost-effective resource for reducing energy demand in the near-term. Energy efficiency measures, such as building retrofits, heating system replacements and appliance upgrades, save consumers 20 to 30 percent off their energy bills.

While states maximize near-term energy efficiency opportunities, they are also investing in renewable energy sources for a long-term clean energy future. Across the region, funds are being used to install solar, wind and geothermal energy generation systems in commercial and industrial facilities and to deploy solar energy and hot water systems on homes and businesses.

States are beginning to document both the direct consumer benefits and the broad economic gains that the investment of RGGI proceeds is bringing to the region. For example, in Connecticut, electric and gas energy efficiency programs, funded in part with RGGI proceeds, are producing more than $4.00 in benefits for every $1.00 invested. New York is showing a greater than 8 to 1 benefit for every dollar invested in renewable energy systems.

"Expanded efficiency programs, funded in part by RGGI, will generate roughly $6 billion in consumer energy savings in Massachusetts over the next three years," said Phil Giudice, Commissioner of the Massachusetts Department of Energy Resources. "The same programs are also expected to create or maintain nearly 4,000 jobs for contractors, HVAC technicians, architects and other specialists, also over three years."

The next RGGI auction is scheduled for September 8, 2010.

Selected investment highlights from each of the ten RGGI states include the following:

Renewable Energy

• Connecticut has approved $1.3M of its RGGI allocation for municipal projects in the On-Site Distributed Generation Program -- the allocation funds solar PV energy systems on municipal buildings. Between November 2009 and May 2010, 9 projects were approved, 7 on schools and 2 on town buildings. Together, the projects will add 415 kW of clean, renewable power to the grid.
• Maryland has invested $2.16M in its RGGI proceeds in its Solar Energy Grant Program -- a program to provide grants for solar electricity and hot water systems on homes and businesses. Since RGGI began, over 400 grants have been awarded to residents across the state. The grants helped add over 1,700 MWh of clean, renewable solar power to the grid.
• New Jersey has invested $19.4M in its Clean Energy Solutions Capital Investment Loan/Grant Program -- a program to provide zero-interest loans and grants for large-scale renewable energy and energy efficiency projects. Through April 2010, 8 projects have received grants or loans for combined heat and power (CHP) systems, commercial-scale solar electric systems and a feasibility study for an offshore wind turbine installation. The funded CHP and solar-electric systems represent 14 MW of new, clean generation capacity.

Energy Efficiency

• Maine has invested $3.5M in its Industrial Energy Efficiency Grant Program -- a program to provide grants between $100,000 and $1 million for large-scale energy efficiency projects, including CHP systems. In 2009, a total of 16 grants were awarded, 6 of which were funded by RGGI. The 6 RGGI projects will avoid more than 367,560 metric tons of CO2 over their lifetime.
• New Hampshire has invested $500K in its EnergySmart Schools Program -- a program to provide energy benchmarking services to New Hampshire’s K-12 schools. Each school will receive a report which documents energy use, costs and emissions for each building, and provides recommendations for immediate strategies to reduce energy use.
• Rhode Island has committed $3.95M to the Least Cost Procurement Energy Efficiency Utility Account at National Grid for supplementing and expanding energy efficiency programs, including: home energy audits, Energy Star lighting and appliance rebates, high-efficiency heating, water heating and controls incentives, Energy Star central air conditioning rebates and energy efficiency educational programs.
• Delaware has invested RGGI proceeds in the Sustainable Energy Utility’s Energize Delaware Appliance Rebate Program -- a program to provide rebates of up to $200 for the purchase of an Energy Star-qualified clothes washer, dishwasher, room air conditioner, or gas water heater. Since September 2009, the program has provided more than 10,000 rebates, saving consumers nearly $250,000.
• Vermont has invested RGGI proceeds in its Button-Up Vermont Program -- a program to provide free home energy-savings workshops where residents learn how to implement do-it-yourself measures to improve energy efficiency. Participants also learn about saving opportunities associated with energy retrofits, and about technical and financial resources available to them.

Workforce Development

• New York State committed $8M to the Workforce Development Programs -- To meet ambitious legislated goals for improving the energy efficiency of existing homes, New York is devoting substantial resources to greatly expand the workforce training infrastructure needed to prepare workers to design, install, and maintain energy efficiency initiatives. Funds will be used to provide apprenticeship and internship incentives to employers and training institutions, expand existing training centers, fund basic skill initiatives, provide funding for training equipment, and improve field testing process and certification examinations to help increase the number of qualified workers. The funds are projected to significantly increase the number of workers that have been trained over the past few years.
• Massachusetts has invested $1.9M in its Energy Efficiency Skills and Innovation Initiative -- a program to train the state’s cutting edge green collar workforce. Under the program, Springfield Technical Community College is serving as a statewide clearinghouse for energy efficiency training activities, materials and services, and is coordinating job training at community colleges across the state.

 For more information turn to: www.rggi.org