New Hampshire is going to take part in its first cap-and-trade greenhouse gas auction that will be spent on renewable and energy efficient technologies.
New Hampshire is part of a 10-state consortium in which all fossil fuel-burning power plants are required to buy credits to cover the carbon they emit. The initiative is viewed as a possible model for a national program to reduce emissions of carbon dioxide, a gas blamed for global warming.
The auction will take place on Wednesday. New Hampshire did not take part in a September auction, in which six of the states raised $38.5 million.
All of the New Hampshire proceeds from the auction will go into a greenhouse gas emissions reduction fund to support energy efficiency, conservation and a program to help low-income families save money by reducing energy needs.