Full Title: Don’t Call it a Standard: What’s Unique About the Clean Electricity Payment Program (CEPP)
Author(s): Lindsey Walter
Publisher(s): Third Way
Publication Date: August 12, 2021
Full Text: Download Resource
Congress has an opportunity to incentivize the creation of hundreds of thousands of clean electricity jobs and help communities across the country build new, clean electricity infrastructure. How? By including the Clean Electricity Payment Program (CEPP) in budget reconciliation. The CEPP, a budget-based alternative to a clean energy standard, provides incentives for every utility to build more clean electricity to reduce air and water pollution, slash climate emissions, and create local jobs. When combined with other policies in the Bipartisan Infrastructure Deal or proposed for reconciliation, it could also jump-start needed emerging technologies like carbon capture, advanced nuclear, and long-duration battery storage. And it does so without severely penalizing the utilities that need help the most, or banning anything.
This memo outlines what the CEPP is, how it will benefit communities across the country, and why we believe it meets reconciliation’s strict budget requirements.