Considering the social cost of carbon emissions. (FE)
By establishing a requirement for considering the social cost of carbon, AB811 positions Wisconsin to potentially lead in environmental regulatory practices. This statute will necessitate that projects affecting the state's electric grid incorporate an assessment of their carbon emissions costs, thereby influencing future projects and investments in renewable energy. Furthermore, the consideration of carbon costs could foster more sustainable energy solutions by making projects with lower carbon footprints more attractive, ultimately reshaping the state’s energy landscape.
Assembly Bill 811 aims to introduce a regulation within the state's statutory framework concerning the social cost of carbon emissions. The bill mandates that the Public Service Commission consider the defined social cost of carbon when determining the issuance of certificates for constructing large electric generating facilities and high-voltage transmission lines. This move is part of a broader effort to integrate environmental considerations into utility regulations, reflecting an increasing awareness of the impacts of carbon emissions on climate change and public health.
Despite its supportive intentions, the bill may face contention among stakeholders. Proponents of the bill argue that understanding and mitigating the social costs associated with carbon emissions are critical to responsible utility planning and climate action. However, opponents might express concerns over the potential for increased regulatory burden, arguing that such considerations could delay vital infrastructure projects, thereby impeding energy supply and increased costs to consumers. The balance between environmental responsibility and economic feasibility could become a central theme in discussions surrounding AB811.