The Regional Greenhouse Gas Initiative (RGGI) is a market-based collaborative effort among Northeast and Mid-Atlantic states to combat climate change and reduce greenhouse gas emissions from the power sector, while driving economic growth. Power producers must purchase emissions allowances through the RGGI auctions, and Virginia will begin to receive proceeds from the RGGI auction in the first quarter of 2021. DHCD, in coordination with the Virginia Department of Mines, Minerals and Energy, will administer just over half of the proceeds from the RGGI cap and trade program to energy efficiency programs benefiting low-income Virginians by making investments in affordable housing.
A stakeholder process will start in the fall of 2020 to consider investments in the following:
- Deep energy retrofits (exceeding the current Uniform Statewide Building Code standards) that complement existing state affordable housing construction and rehabilitation to ensure lowest-income populations benefit from long-term cost savings
- Innovative approaches
- Prioritize long-term sustainability/durability and occupant health (e.g. ventilation), as well as energy efficiency
In order to receive the most up to date information on the stakeholder process, sign up at the link provided below.