Carbon Tax Plan Uses the Power of Compound Interest to Transition to 100% Renewable Energy

Carbon Tax Plan Uses the Power of Compound Interest to Transition to 100% Renewable Energy

For Immediate Release

New Clear Free Solutions, a citizen based energy think tank, will be presenting a new Carbon Tax plan to the Energy and Utilities Board. The Carbon Tax and Investment Plan (CTIP), takes advantage of compound interest to transition to 100% renewables. The NB Power rate hearings will be held at Delta Brunswick, 39 King Street, Saint John, N.B. onTuesday evening, May 10.

 

“It didn’t take us long to figure out that the key to a successful plan was harnessing the power of compound interest” said Chris Rouse, founder of New Clear Free Solutions. He began work on the CTIP following last year’s rate hearings where he also participated as an intervenor. At that time, he was asked by EUB staff lawyers how he thought a carbon tax might be implemented. “The CTIP taxes carbon and then invests that tax into renewable energy. The revenue generated from the renewables is then continually reinvested to exponentially transition to 100% renewable.” said Mr. Rouse.

 

“This plan is much lower cost than other policies, and in the end, NB Power is debt free. The plan generates billions in extra revenue, and creates thousands of jobs for New Brunswickers.”

 

New Clear Free Solutions sought an outside opinion to critique their plan from UNBSJ Professor of Economics, Dr. Rob Moir. “The concept of reinvesting in environmentally-friendlier energy production and energy efficiency to create a compound interest effect is founded economic theory,” responded Dr. Moir. “As such this policy should be considered by all provinces and not only New Brunswick.”

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EUB Power Point Presentation

For more information, contact: Chris Rouse 506-650-0007 chris_r_31@hotmail.com

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