WRI’s analysis of emissions caps, allowances, offsets, and other
critical components of the American Clean Energy and Security
Act. This summary has not been updated to reflect the bill that
passed the House on June 26th. What are the key elements of the
bill approved by the House Energy and Commerce Committee last
Friday? We have a good understanding of the bill’s four major
elements (the official version will be reported out of committee
in early June.) These include: A clean energy requirement,
designed both to set new standards for current types of power
generation and to accelerate development and deployment of clean
energy technologies such as renewables, energy efficiency and
carbon capture and storage. An efficiency requirement that
provides funding for energy efficiency programs, and the setting
of stronger building codes and product efficiency standards. A
cap and trade program that sets mandatory caps on 87 percent of
U.S. greenhouse gas emissions including the electric power and
oil and gas sector