Market-Based Solutions for Water Supply and Stormwater Management
One Water Econ is experienced in conducting feasibility assessments, evaluating potential impacts, and designing market-based solutions for water supply and stormwater management. While markets can promote efficient solutions to managing limited water supplies or optimizing water quality benefits, the appropriateness and success of market-based solutions depends on several factors. One Water Econ’s applies innovative strategies to design effective solutions that suit local conditions.
Exploring the Potential for a Groundwater Market in Madera County, California
One Water Econ’s team members recently completed a comprehensive study to explore the potential for a groundwater market that would allow agricultural water users within Madera County to buy and sell groundwater allocations. The County is considering a market as one component of an overall approach for sustainably managing groundwater resources pursuant to the California Sustainable Groundwater Management Act (SGMA).
Key elements of our work included:
Conducting outreach and working with local stakeholders
Assessing the feasibility of a groundwater market in Madera County, including identifying potential environmental, economic, and social impacts and unintended consequences
Developing a market strategy framework, outlining the market structure, rules, and strategies for reducing adverse effects
Conducting a year-long virtual pilot groundwater market program
Stormwater Credit Trading in Grand Rapids, Michigan
In partnership with American Rivers and the City of Grand Rapids Environmental Services Department, One Water Econ is working to design and implement a stormwater credit trading program to help developers and property owners meet post construction stormwater standards for new and redevelopment sites. The goal of the market is to result in more green infrastructure implementation in high priority areas for stormwater management and increasing overall water quality benefits.
One Water Econ’s team members assessed the feasibility of credit trading within the City, designed a program appropriate to local conditions, and is now working with the City to implement the program.
Corona’s economists have worked on market-based solutions for stormwater management in several communities, including Cook County, IL; San Mateo County, CA; and Los Angeles, CA.