CRS Comments on CARB’s Proposed Regulation for the 33% Renewable Energy Standard

This letter, addressed to Gary Collard at the California Air Resources Board in reference to the draft 33% RPS, details CRS’s position that a REC is a property right, that CARB’s recognition of these property rights inherent in RECs would not increase CARB’s risk of a regulatory taking under the Fifth Amendment, and that declaring that RECs do not constitute property rights could irreparably harm existing REC markets.