OLYMPIA, WA (MyBellinghamNow.com) – Washington’s carbon emission auction sold out once more as the price climbs.
The Washington State Department of Ecology reports that their sale of each carbon allowance for the June auction sold out once more, at a slightly higher price than last auction in March.
Each share was sold at $58.51 during the auction, up from $50 in March.
The upswing in price marks a rebound in the cap-and-invest program, which came under scrutiny when Initiative 2117 attempted to do away with the program last November.
Ecology says the auction raised an estimated $322 million for the state’s program, bringing the total revenue to nearly $3.2 billion in the span of two and a half years.
The funds will go toward hundreds of green-energy projects throughout Washington from electric school buses to solar and heat pump installations and energy credits.
