Maine Moves One Step Closer To Selling Carbon Credits from Weatherization Projects

by | Jul 12, 2010

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Maine is one step closer to selling carbon credits from carbon emission reductions achieved through weatherization projects, reports Bangor Daily News. The revenue generated from the carbon credits will be used to make additional Maine homes energy efficient.

MaineHousing Director Dale McCormick says the agency’s tool — The Methodology for the Weatherization of Single Family and Multi-family Buildings — to measure carbon savings that result from weatherization projects has been approved by First Environment, an independent third-party accredited validator that is accepted by the Voluntary Carbon Standard Association.

McCormick says this is the first tool to measure the impact weatherization has on carbon savings, which will provide verifiable and salable carbon emissions reductions.

MaineHousing can start selling carbon credits when the methodology earns approval from a second accredited validator, which is expected as early as fall 2010. Once approved, MaineHousing will propose a project to the Voluntary Carbon Standard Association.

McCormick told the Bangor Daily News that between MaineHousing and Efficiency Maine Trust programs, the state could sell 8,000 carbon credits a year.

Revenue estimates from the program are not possible due to market fluctuations, according to MaineHousing, but the agency expects it will raise enough money to weatherize all residential housing in the state.

MaineHousing has submitted a grant to the U.S. Department of Energy to help other states use the methodology to expand their own energy efficiency programs.

Maine is part of the 10-state Regional Greenhouse Gas Initiative, the first mandatory cap-and-trade system in the United States.

Which carbon markets Maine will sell the weatherization credits on is still unknown, reports Bangor Daily News.

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