California’s cap and trade market will expand in 2014 after a successful first year of operations that quelled fears of a European Union-style carbon allowance glut while powering a clean energy economic boom.

The California Air Resources Board (CARB) announced a minimum of 81 million 2014 allowances and 37 million 2017 allowances will be auctioned during 2014, and the minimum reserve price for allowances will be set at $11.34.

2014’s available allowances and minimum reserve price are both increases over this year, when 57 million available 2013 allowances sold at a minimum reserve price of $10.71. But beyond increasing the number and cost of permits, several other developments suggest California’s carbon market will have an even more successful second year of operation.

via California and Carbon Reduction Schemes | The Energy Collective.