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POLITICO Energy
Why the nation’s largest power market wants to stop paying for energy efficiency
Sep 19, 2024
Catherine Morehouse, an energy reporter for POLITICO, delves into the controversial proposal from PJM Interconnection to halt payments for energy efficiency initiatives. She discusses the implications of this shift for clean energy advocates and the potential risks it poses to energy-saving goals. The conversation also touches on a new Treasury Department rule that offers tax credits for electric vehicle charging stations in low-income and rural areas, highlighting ongoing efforts to bolster sustainable energy infrastructure.
07:59
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Quick takeaways
- PJM Interconnection's proposal to stop payments for energy efficiency initiatives has sparked controversy among clean energy advocates concerned about its impact on consumer behavior.
- The Treasury Department's rule on tax credits for electric vehicle charging stations aims to enhance access in low-income and rural areas, supporting a transition to cleaner energy.
Deep dives
Proposed Changes to Energy Efficiency Payments
PJM Interconnection is proposing to end capacity market payments for energy efficiency initiatives, a move that has stirred controversy among clean energy advocates. This change, requested with the justification of two complaints from the Independent Market Monitor, suggests that the payments made to companies for energy efficiency do not directly correlate with actual reductions in energy consumption. Previously, these payments had been significant, amounting to over $100 million annually since 2018, but critics argue that they are essentially compensating companies for simply tracking appliance sales rather than driving actual consumer behavior. The proposal marks a significant shift in how energy efficiency is valued in the market, moving away from a practice in place for the last 15 years.
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