Maine targets global carbon market
The Maine State Housing Authority is preparing to launch an initiative that would allow Maine to sell carbon credits on the global market to fund home weatherization projects for its low-income residents.
The state would sell the credits -- promises of reduced energy use through the weatherizing of Maine homes -- to buyers who are looking to offset their carbon emissions, according to the Portland Press Herald. Maine's initiative is unique because carbon credits usually come from large projects, such as a renewable energy project, not the weatherization of low-income homes.
Weatherizing a home can prevent 40 tons of carbon from entering the atmosphere over 20 years. That one project is worth as much as $300 on the carbon market, the Press Herald reported. But Maine officials say that value could increase as buyers look for a way to offset their energy use because of increasing caps on emissions, the paper reported.
Maine officials expect the initiative, scheduled to begin next year, will provide millions of dollars to help weatherize the roughly 186,000 households of low-income Mainers, and help the state reach its goal of weatherizing all 477,000 homes in Maine within 20 years, the newspaper reported.
Go to the article from the Portland Press Herald >>
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