Cap and Invest program

Extracted Attributes

Cap-and-Invest (Washington state)

Cap-and-Invest is a program run by the government of the US state of Washington to fund climate change policy through a carbon emissions trading system, commonly known as cap and trade.

Web Search Results

• Greenhouse Gas Cap-and-Invest Program

  Cap-and-Invest was designed by CARB to achieve the goals of the Global Warming Solutions Act of 2006 (AB 32) - including reducing California's greenhouse gas emissions to 1990 levels by 2020 - and the goals of AB 398, which clarified the role of California's Cap-and-Invest Program in achieving California's 2030 greenhouse gas emissions target of 40 percent below 1990 levels. The Cap-and-Invest Program encourages electricity providers to shift toward clean sources of energy - the kind that comes from wind, solar, geothermal, and other renewable resources. [...] Skip to Main Content Translate this website: California Public Utilities Commission California Public Utilities Commission # Greenhouse Gas Cap-and-Invest Program California's Greenhouse Gas Cap-and-Invest Program helps to fight climate change by reducing California's greenhouse gas pollution. Originally named Cap-and-Trade, the Cap-and-Invest Program was designed by the California Air Resources Board (CARB) to achieve the goals of the Global Warming Solutions Act of 2006 (AB 32). It creates incentives for our utilities and industries throughout the state to reduce their greenhouse gas emissions, improve the efficiency of their operations, and move toward cleaner forms of energy. [...] The CPUC directs investor-owned utilities (like PG&E, SCE, SDG&E, and SoCalGas) to distribute funds generated by the Cap-and-Invest Program as credits to residential customers, small businesses, industry, and for clean energy and energy efficiency programs. Program achievements include: Distributed over $19.4 billion of Cap-and-Trade funds to residential households, small businesses, and industry since 2014. Each year over 11 million households receive the electric California Climate Credit and over 12 million households receive the natural gas California Climate Credit. Over $1 billion in Cap-and-Invest program funding available to improve access to solar and clean energy technologies in disadvantaged communities. ## Cap-and-Invest Overview

• Cap-and-Invest Program - California Air Resources Board

  California Gov # California Air Resources Board ## Main navigation Image of Clouds ## Cap-and-Invest Program ## Categories The Cap-and-Invest Program (formerly Cap-and-Trade) is a key element of California’s strategy to reduce greenhouse gas emissions. It complements other measures to ensure that California cost-effectively meets its goals for greenhouse gas emissions reductions. More about this program ## August 2026 Joint Auction #48 Notice The next auction will be held on August 19, 2026. calendar icon Events and deadlines chart down icon document icon Current, past, and rulemaking documents ## Popular Resources ### Proposed 2026 Amendments to the Cap-and-Invest Regulation

• Policy Opportunity Brief: Cap-and-Invest

  © Center for the New Energy Economy 2026 Policy Opportunity Brief: Cap-and-Invest Background Cap-and-invest programs are market-based policies designed to reduce greenhouse gas (GHG) emissions by placing a binding, declining limit on total emissions while allowing regulated enƟƟes flexibility in how they comply. Under these programs, a regulatory authority sets an emissions cap on one or mulƟple sectors of the economy and issues a set number of tradable permits (“allowances”) equal to the emissions cap, with each allowance represenƟng one metric ton of carbon dioxide (CO2). To comply, covered enƟƟes must reƟre allowances equal to their emissions. Allowances are typically distributed through a combinaƟon of free allocaƟon and state-run aucƟons, generaƟng revenue for consumer rebates and

• Scoping Plan Cap and Invest Documentation

  Leadership: New York’s Cap-and-Invest Program will not only help achieve our climate goals at home, but also catalyze a nationwide movement to expand Cap-and-Invest markets that cross state borders, which could collectively minimize price pressures, and advance the climate movement. To that end, Governor Hochul is specifically directing DEC and NYSERDA to design a program with the capacity to join other current or future cap-based programs, which can lower the price of the overall transition across multiple jurisdictions. • Creating Jobs and Preserving Competitiveness: The Cap-and-Invest Program will be designed to launch new investment in industries that will create tens of thousands of well-paying, family-sustaining jobs that can lift up entire communities. From home retrofits to green [...] decline. Cap-and-invest programs have been implemented economywide in California and Quebec, and Washington recently passed legislation and adopted a rule to establish such a program. There are also existing sector-specific cap-and-invest programs, such as the Regional Greenhouse Gas Initiative (RGGI), that cover emissions from the electricity sector and include New York as a participant. In contrast to a carbon tax or fee, which would have to be enacted by the Legislature, the New York State Department of Environmental Conservation (DEC) could promulgate regulations establishing a cap-and- invest program using its existing authority to adopt regulations that reduce emissions. Both carbon tax/fee and cap-and-invest programs provide a price signal stimulating lower emission choices and a [...] ton of carbon dioxide (CO2) emission from the electricity sector. A cap-and-invest program would also result in a price on emissions, but indirectly as the government entity establishes the emissions cap while the price is determined based on the available supply of and demand for emission allowances, rather than directly by the government entity. It would require regulated entities to purchase emission allowances, usually at an auction, to match their emissions. The difference from carbon tax/fee, however, is that a cap- and-invest program provides emissions certainty. A cap-and-invest program would limit the number of allowances sold, with the available amount decreasing year-by-year to ensure that overall aggregate emissions decline. Cap-and-invest programs have been implemented

• USA - Washington Cap-and-Invest Program | International Carbon Action Partnership

  The program covers emissions from 96 entities in the mining, energy, industrial, buildings, and transport sectors. Many of the Cap-and-Invest Program’s design elements are similar to those of California’s Cap-and-Invest Program. Covered entities must surrender allowances for all their covered emissions. Allowances are distributed through auctioning and free allocation, with the latter based primarily on benchmarking. The program has a cost containment reserve and auction reserve price to support market stability and moderate covered entities’ compliance costs. [...] The Cap-and-Invest Program was established by the “Climate Commitment Act” (CCA), signed into law by then-Governor Jay Inslee in May 2021. Washington is the second state in the United States to pass a law requiring such an economy-wide program, after California. Launched as a standalone system, the CCA directed the Department of Ecology to pursue linkage with California and Québec. “Senate Bill 6058”, which is designed to facilitate linkage, went into effect in January 2025. [...] Washington’s Cap‑and‑Invest Program saw significant changes in 2025, with the Legislature enacting “HB 1975” (Chapter 320, Laws of 2025; effective July 27, 2025). The bill directs Ecology to analyze and model the program’s allowance and other compliance‑instrument markets, including scenarios with potential linkage, to support market-dynamics assessment and future design adjustments. Though price ceiling units were already in effect as a backstop to offer additional units issued at the price ceiling if Allowance Price Containment Reserve (APCR) supply is exhausted, HB 1975 established the fixed price ceiling of USD 80 for 2026 to 2027.