(In Part 1 of our series on the Texas Emissions Reduction Plan, we provided an overview to the unique approach that Texas has taken to incentivize clean air under a voluntary program that “pays” participants to modernize their older engines and equipment. Today, in Part 2, we’ll consider whether the program has been a good investment in clean air for the state.)
What would you do with $2.4 billion dollars?
In Texas, we dedicated those funds to a program that would reduce emissions – the Texas Emissions Reduction Plan (TERP). That’s a serious investment in clean air by the Lone Star State (consider, for example, the cost of the Dallas Cowboys football stadium that came in at a mere $1.2 billion).
This year marks the program’s fifteen year anniversary, so it seems timely to take a look at whether TERP has returned a good investment for the State of Texas.
What makes an investment “good”? A standard answer is that a good investment is one that achieves your goals, whether they are financial, health-related, or some other goal. TERP was created with five statutory objectives, summarized in the Texas Health and Safety Code: Read More