For example, our report found that in 2016 Maryland utilities used over 7 million unbundled RECs at a cost of over $88 million to meet their renewable energy requirements. This means utilities purchased no energy as part of these transactions and Maryland ratepayers got nothing in return for their investment. Even more alarming, the report found that much of the energy subsidized by Maryland ratepayers was as bad or worse for climate and health than burning fossil fuels. The report estimates that between 2008-2016, Maryland ratepayers spent about $84 million to buy about 10,348,141 unbundled renewable energy credits from Virginia, more than any other state. About 93 percent of these credits subsidized existing dirty energy sources like incineration, black liquor and the burning of wood waste.