Article in The Nation on Puerto Rico’s post-hurricane recovery details how researchers at the Political Economy Research Institute (PERI) identified the island as fertile ground for renewal through green rebuilding efforts and a self-sufficient energy system

An article on Puerto Rico’s recovery following the widespread destruction caused by Hurricane Maria details how a working paper from August by researchers at the Political Economy Research Institute (PERI) identified the island as fertile ground for renewal through green rebuilding efforts and a self-sufficient energy system. The paper argues that creating a renewables-based power grid emancipated from the fossil-fuel industry could blaze a path to socially fair and climate-resilient energy sovereignty for the island. PERI calculates that about $2.2 billion in annual investments is needed to establish a more socially equitable, decentralized energy infrastructure that is accessible to all residents. The main financing vehicle would be a carbon tax, starting at $25 per ton, rising incrementally to $150 per ton by 2050. The tax would yield $300 million for new energy investment, which would then be used to leverage private investment promoted through various subsidies, similar to the incentives structures used to boost solar and wind on the mainland. Robert Pollin, co-director of PERI and distinguished professor of economics, is quoted. (The Nation, 10/4/17)