Source: POLITICO'S MORNING AGRICULTURE, 1/8/20

The Center for American Progress in a new report today outlined policies that could generate additional revenue for farmers who adopt climate-friendly practices, like storing more carbon in soils, installing energy-efficient technology and protecting land from development. The left-leaning think tank estimated the proposals could eventually help farmers and other landowners earn an additional $8 billion a year through federal investments and their own cost savings.

"It's a false choice that rural communities can either have economic prosperity or take climate action," said Bidisha Bhattacharyya, deputy director for climate and energy progress at CAP and co-author of the report. "Climate policy can be a win-win."

Conservation cash: The largest investment involves doubling funding for the Agriculture Department's conservation programs for working lands to nearly $3.5 billion each year, in order to enroll an extra 100 million acres by 2030. The focus should be on paying farmers to plant cover crops, CAP said, which are only used on about 4 percent of farmland.

The report cited a USDA research project in June that found corn and soybean growers, after five years of planting cover crops, could have a net return of $18 an acre and $10 an acre, respectively, due to boosted crop yields and lower input costs like fertilizer.

Using the practice on an additional 100 million acres could save farmers $1.4 billion, CAP said.

Energy efficiency: CAP called for doubling funding for a USDA rural energy program to $800 million to offer more loans and grants to farmers who install solar, wind and other efficiency equipment on their operations. The program also could help thousands of dairy and swine operations install methane digesters, which the EPA estimates could save $1.7 billion a year in electricity costs.

CAP said 254 digesters are already in use.

On the campaign trail: Some of CAP's proposals are similar to Democratic presidential candidates like Sens. Elizabeth Warren (Mass.) and Cory Booker (N.J.), who want to pour billions into USDA conservation programs as part of their climate agendas.