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The report provides a state-by-state breakdown of progress toward 2020 Clean Power Plan benchmarks, noting that some states have exceeded 500% of their goals while others show 0% progress. It highlights the role of energy efficiency, renewable energy standards, and regional initiatives in achieving these targets.

Missouri can achieve 90 percent of its Clean Power Plan emission reductions by meeting voluntary energy efficiency goals, adhering to its 15 percent renewable energy standard by 2021, increasing the utilization of existing natural gas combined cycle plants, and improving coal plant efficiency. To close the remaining gap and exceed targets by 14 percent, the state could increase renewable energy to 20 percent of all state sales by 2030. The document suggests maximizing economic benefits through a market-based carbon pricing program—potentially generating over $40 million annually from out-of-state sources at $10 per short ton—and continued investment in energy efficiency, noting that Ameren's 2013 programs returned over $3 in benefits for every dollar invested.

The document outlines a strategy for the United States to reduce greenhouse gas emissions, stating that a 26 percent reduction below 2005 levels by 2025 is achievable through a comprehensive approach including the Clean Power Plan. It identifies the power sector as the primary opportunity for reductions, potentially reaching 30 percent by 2025 if policies are strengthened or renewable costs decline. For longer-term goals, the paper argues that Congressional action, specifically a national carbon price, could enable reductions of 40-42 percent by 2030 and 50-53 percent by 2040.

Pennsylvania can meet or exceed its Clean Power Plan targets by 2030 by expanding its energy efficiency and renewable energy standards, optimizing the operation of existing natural gas and coal plants, and adopting a carbon pricing program. Specifically, increasing the energy efficiency target to 13.2 percent cumulative annual savings and the Tier I alternative energy standard to 18 percent by 2030 could reduce CO2 emissions by 46 percent below 2012 levels. The document highlights that utilizing existing natural gas combined cycle plants at 75 percent capacity, compared to 65 percent in 2013, would further cut emissions.

Virginia can achieve nearly one-third of its required emission reductions between 2012 and 2030 through planned coal retirements and clean energy investments. To close the remaining gap and surpass targets, the state can pursue a 10 percent reduction in electricity consumption by 2022, a 15 percent renewable energy goal by 2025, and increased utilization of its existing natural gas fleet to 75 percent capacity. The document suggests that adopting a market-based carbon pricing program with a $10 per short ton price for interstate allowances could generate over $100 million in annual revenue between 2022 and 2030. Additionally, robust energy efficiency policies could increase Virginia's GDP by $286 million and add 38,000 jobs by 2030.

Wisconsin can achieve 63 percent of its Clean Power Plan (CPP) emission reductions by continuing the Focus on Energy program, maintaining its renewable portfolio standard, and improving the efficiency of natural gas and coal plants. To close the remaining gap and exceed targets, the state could increase efficiency targets to 2.5 percent by 2025 and renewable generation to 30 percent by 2030. The document argues that adopting a market-based carbon pricing program could generate over $100 million annually from out-of-state sources between 2022 and 2030 if allowances trade at $10 per short ton. Additionally, investments in energy efficiency via Focus on Energy provided a 3:1 benefit ratio from 2011-14, saving homes and businesses $1.7 billion.

The document outlines four primary actions for Illinois to meet Clean Power Plan targets: removing spending caps on energy efficiency, ensuring renewable energy standard payments increase investment, increasing combined cycle natural gas plant usage to 75 percent, and adopting operational improvements at coal plants. By increasing the renewable energy standard to 35 percent by 2030 and targeting 20 percent cumulative energy savings by 2025, the state could reduce CO2 emissions by 76 percent below 2012 levels by 2030. The report also suggests a market-based carbon pricing program, which could generate over $300 million annually from out-of-state sources between 2022 and 2030 if allowances trade at $10 per short ton.

The World Resources Institute (WRI) analyzed four economic studies of the Clean Power Plan (CPP), finding that the regulation's projected effects on electricity affordability and the economy vary significantly based on the assumptions used in the modeling.

Michigan can achieve 98 percent of its Clean Power Plan emission reductions through existing clean energy policies, with the remainder achievable via better use of natural gas and coal plant efficiency. The state could further increase reductions by raising its renewable energy and energy efficiency standards, and potentially generate over $160 million annually through a market-based carbon pricing program.

The document examines how a national carbon price would induce emissions reductions across the U.S. economy, with the most immediate and significant impacts occurring in the electricity sector. It argues that while U.S. Energy Information Administration (EIA) forecasts are conservative, empirical evidence from places like British Columbia suggests that carbon pricing can drive substantial behavioral changes and technological innovation. The authors advocate for a combination of carbon pricing and complementary policies, such as R&D funding and energy-efficiency standards, to overcome market barriers and achieve a target of reducing emissions by more than 80 percent by 2050.

The document highlights the cost-effectiveness of energy efficiency programs in the U.S., citing specific utility savings in Minnesota, New Mexico, and Arkansas, and economic projections for Massachusetts and Wisconsin. It advocates for scaling up federal appliance standards, updating building codes, and implementing financing mechanisms like PACE and green banks to increase adoption.