Laurie Johnson, chief economist at the NRDC's climate and clean air program, wrote in response to the Chamber's analysis that they underestimate the savings of efficient energy production, overestimate the cost of new technologies and compliance, and misrepresent how much electricity demand will grow.
"We don't see why there needs to be any downside in terms of economic impact," Jake Thompson, an NRDC spokesman, said. "In fact, taking those steps [that are expected from the EPA announcement] will have benefits by several orders of magnitude to our health and environment, which would help the economy too."
The positive economic effects of new carbon regulations have been touted by other organizations as well. A study from the Union of Concerned Scientists argues that the monetized benefits of a hypothetical carbon reduction plan outweigh the compliance costs by a factor of 3-to-1 in 2020, and surge of 17-to-1 by 2030.
Read More California's 'boring' carbon market to take limelight after EPA
Rachel Cleetus, senior climate economist at UCS and author of the study, said the Chamber of Commerce "made outrageous assumptions" in its analysis, and instead argued that there would be "significant benefits to our economy" from state-directed carbon regulation.
"Americans around the country are paying for the environmental and health impacts—it's not as if 'business as usual' is free," she said. "The opportunity here is to move towards a situation where we are addressing climate change, but also reaping the economic benefits of the new technologies."
Despite the many prognostications about the effects of a new EPA policy, Josh Freed, the vice president for clean energy at Third Way think tank, said he doesn't expect a significant negative impact.
Read MoreSupreme Court puts Obama's EPA on trial over global warming laws
In fact, he said, trends in the energy industry—such as an increase in domestic natural gas resources and the falling cost of wind and solar technologies—may render the costs of regulatory compliance inconsequential.
"[These trends] will enable most utilities and most states to comply with these regulations without a significant impact on the economy," he said. "There will be new investments required, and this could mean modest increases in electricity prices, but we want the utilities sector to invest in new infrastructure."