By Seth Masia
SOLAR TODAY deputy editor
In an historic move, India imposed a nationwide carbon tax today, in the form of a tax on coal production.
Dubbed a clean energy measure, the tax of 50 rupees per metric ton is imposed on all coal mined or imported. It's expected to generate about $535 million to support carbon-neutral energy projects.
The tax is pretty trivial. It amounts to $1.07 per metric ton at today's exchange rates. Do the math and you wind up with $3.15 per metric ton of carbon dioxide equivalent. That's roughly one-sixth of what carbon emissions trade for on the EU's London exchange.
Seth Masia
Liz Merry
