All Resources on the Economics of Adaptation

This tab includes all resources on the economics of adaptation in the Adaptation Clearinghouse, including plans addressing economic impacts and reports describing the economic benefits of adaptation actions. Filter this list by sector or impact.

 

 

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Moody's Environmental Risks: Evaluating the Impact of Climate Change on U.S. State and Local Issuers

November 28, 2017

This report from Moody's Investor Services discusses potential credit rating impacts from the exposure and vulnerability of U. S. state and local governments to economic losses from climate change. The report notes that without adaptation, state and local governments will face increasing risks risks from severe heat, changing precipitation patterns, and rising sea levels - and that these risks will become more severe over time. The economic impacts of climate change will include property damage, lowered productivity, health impacts, and increasing energy use.

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New Jersey Payment-in-Lieu-of-Taxes (PILOT) Program

In 1971, New Jersey implemented the Payment-in-Lieu-of-Taxes (PILOT) Program. Through this program, the state pays municipalities to protect and conserve open, undeveloped lands owned by the state and tax-exempt nonprofit organizations. This program was created to benefit environmental quality, quality of life, and economic health in New Jersey by conserving open space for natural resources and recreational purposes. While this program has been amended throughout its tenure, it is a noteworthy example of a state program that creates incentives for local governments to create open space by mitigating the impacts of lost tax revenue and land maintenance costs. In a managed retreat context, a similar program could be coupled with hazard mitigation buyouts and open space acquisitions to encourage local governments to conserve vulnerable properties impacted by sea-level rise and flooding. 

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Maryland Office of Home Energy Programs: Energy Assistance

Maryland Office of Home Energy Programs: Energy Assistance: The Office of Home Energy Programs (OHEP) provides bill assistance to low-income households in the State of Maryland to make energy costs more affordable and ensure the stability of home energy services through several programs. The OHEP houses four grants to contribute energy assistance: the Maryland Energy Assistance Program; the Electrical Universal Service Program; the Utility Service Protection Program; and Weatherization and Energy Efficiency Services.

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U.S. Small Business Administration (SBA) Disaster Loan Program

The U. S. Small Business Administration (SBA) was established as an independent agency in 1952 with a mission to help Americans start, build, and grow businesses. SBA offers a range of financing and other assistance in a post-disaster context. The SBA Disaster Loan Program supports businesses, private nonprofit organizations, homeowners, and renters located in declared disaster areas by providing affordable, timely, and accessible low-interest, long-term loans for losses not fully covered by insurance or other means.

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Duke Energy Progress Partners with RETI for Community Solar

Duke Energy Progress (DEP) worked with the nonprofit, Renewable Energy Transition Initiative (RETI), to increase access to renewable energy programs for lower-income residents. This program provides an example of how utilities can use equity considerations to inform the deployment of renewable energy programs and resources. RETI works to eliminate high energy costs and make renewable energy solutions more accessible through educational programs, community outreach, research, advocacy, and partnerships. RETI promotes income-based applications and brings awareness to this energy saving program through engaging with communities at local community events and churches. DEP and RETI also launched The Shared Solar program for its residential and non-residential customers to be able to share in the economic benefits from a single solar facility. The cost savings from this community solar program are allocated to low-income customers in the company’s territory.

 

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California’s Urban Greening Program

September 2016

California’s Urban Greening Program, created by SB 859 in 2016, is a competitive grant program that funds local green infrastructure projects to reduce emissions, expand green space, and create more sustainable communities. Administered by the California Natural Resources Agency (CNRA), the program is part of "California Climate Investments," which refer to the more than three dozen programs that are funded by the state's cap and trade auction revenues. Urban Greening projects can be used for improvements such as tree planting, park creation or enhancements, green streets and alleys, greening of public lands and structures, and more. The program's selection criteria ensure that projects proposed by, benefiting, and building partnerships in disadvantaged and critically underserved communities will be prioritized for funding.

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New York State Environmental Protection Fund – Local Waterfront Revitalization Program

On an annual basis, the Department of State solicits grant applications from local governments for 50/50 matching grants from the New York State Environmental Protection Fund's (EPF) Local Waterfront Revitalization Program (LWRP). The LWRP provides technical assistance, and matching grants on a reimbursement basis (under Title 11 of the EPF) to villages, towns, cities, and counties located along New York’s coasts or designated inland waterways, to prepare or implement strategies for community and waterfront revitalization.

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Climate Resilience in Alaskan Communities: Catalog of Federal Programs

June 1, 2015

Produced under the Obama Administration, this catalog profiles 62 federal funding programs that can support communities of Alaska in improving their climate resilience. For each program, it lists the program’s purpose, funding level, allowable applications, and who may qualify as an eligible applicant. Resources are emphasized that are useful to tribal and native Alaskan communities. The programs described in the catalog are wide ranging, including grants such as FEMA’s Pre-Disaster Mitigation Grant Program and the NIH/NIEHS “Research to Action” program aimed at helping communities assess their local environmental threats.

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New Jersey Clean Energy Program Efficiency Retrofitting

2010

New Jersey’s Clean Energy Program (NJCEP) is a financial incentive system created by the state legislature to encourage energy efficiency retrofitting and promote the use of renewable energy. CMC Energy is a private firm specializing in improving energy efficiency, and became a contracting partner of NJCEP’s Direct Install program. Through this program, CMC works directly with a participating business or public entity to assess areas for improved energy efficiency, and implement modern technical solutions to reduce energy costs. NJCEP pays for 70% of the total retrofitting costs directly to the entity, reducing the total project time to an average of 90 days from the initial appointment. High Bridge Elementary School, in High Bridge, NJ, participated in the Direct Install program and is realizing an annual energy savings of approximately $22,000. The total cost of the installation was $135,109, of which $94,576 was provided directly to the school. The school thus contributed only $40,532, estimated to be paid off in 1.8 years given the school’s energy savings. Future energy savings will be used for further improvements, such as a new roof. In 2019, to promote equity, NJCEP increased its funding to 80% of the retrofitting costs for facilities: within an Urban Enterprise Zone, within an Opportunity Zone, owned by local governments, containing K-12 public schools, or designated as affordable housing. Under the newer scheme, the High Bridge Elementary pay period would be shortened to 1.23 years, freeing up reduced energy savings faster.

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EPA Environmental Finance Center Grants

Environmental Finance Centers (EFCs) are funded by grants from the U. S. Environmental Protection Agency (EPA) to provide environmental-finance expertise and outreach to states, tribes, local governments, and the private sector. The EFCs work with these entities to help them fund, finance, and manage the growing costs of environmental protection and compliance. The EFCs provide finance-related training, education, and analytical studies to help state and communities develop solutions for paying for initiative and programs required to meet environmental standards set by federal laws such as the Clean Water Act.

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