The U.S. Environmental Protection Agency has unveiled a proposal to reduce greenhouse gas emissions from existing powerplants by 30% below 2005 levels by 2030.
EPA says that the proposed rule, which it released on June 2, could lead to upgrades at fossil-fuel-fired powerplants and has the potential to create thousands of construction and electric-power-transmission jobs.
The ambitious plan would reduce carbon pollution from the power sector by about 730 million metric tons and help mitigate some of climate change's worst effects, EPA Administrator Gina McCarthy said at a press conference.
The rule, expected to be finalized in June 2015, will cover about 3,000 units at the 1,000 existing fossil-fired powerplants in the U.S. and cost approximately $7.3 billion to $8.8 billion annually starting in 2030. But those expenses will be more than outweighed by an estimated $55 billion to $93 billion annual savings in public health and climate benefits, McCarthy said.
States will play a key role in implementing the the administration's “Clean Power Plan.” They will be required to submit plans to EPA by June 2016 outlining how they would achieve the target reductions.