The Department of Energy today announced the final release of the four years-long Climate Action Plan, outlining an ambitious strategy to combat climate change and drive the transition to a cleaner energy economy. The final plan sets forth the first major policy action from the Obama Administration to reduce greenhouse gas emissions from power plants since its landmark 2009 climate change law, the American Clean Energy and Security Act. The plan includes:
• Reducing carbon pollution from power plants by more than 30 percent below 2005 levels by 2030 (a proposal to slash carbon pollution from coal-fired power plants to 40 percent below 2005 levels by 2030 was already incorporated into the Clean Power Plan by the White House),
• Institutionalizing carbon accounting for air quality and EPA’s historic proposal to regulate emissions from existing power plants,
• Multi-year carbon pollution targets for all states,
• A comprehensive coal regulatory plan,
• Nearly $10 billion to increase the nationwide efficiency and deployment of new and existing renewable energy technology.
The plan also provides a framework for reducing energy consumption at home and manufacturing facilities through energy efficiency and renewable energy. As previously reported by the Union of Concerned Scientists, this means residents would save roughly $1,000 over the life of a smart appliance installed through federal rebates, as well as $85 billion in energy savings over the next two decades, saving consumers more than $54 billion annually.