From Futile to Utile: Addressing the Key Role of Florida’s Electric Utility Companies in Mitigating Sea-Level Rise.

Abstract

Florida’s unique tax structure, revenue sources, and diverse environment provide an opportunity to address sea-level rise through the lens of the highest carbon emitters: electric utility companies. The proposed solutions include: [1] a gradual increase in taxes and fees on some aspects of Florida electric utility companies, [2] offering tax credits and subsidies for transitioning to more environmentally-friendly power-generation, and [3] reforming electric utility regulations as an incentive to adopt a more climate-conscious, public welfare approach — all while maintaining a profit-making structure that can both maintain revenue and reduce the impact of sea level rise in Florida. An analysis of three potential solutions indicates that the case for carbon dioxide mitigation initiatives is strong and able to yield significant revenue over time, while simultaneously contributing to the overall reduction in emissions to help reduce the impact of sea level rise in Florida and beyond.