Today Amazon announced a new royalty program that will allow authors to earn 70 percent royalties from each eBook sold.

A typical $8.99 book would pay an author $3.15 under the “standard” system, while an author or publisher would get $6.25 under the new 70 percent scheme.

What’s the catch you say? The authors and publishers must list the eBook between $2.99 and $9.99 on the Amazon Kindle and the price must also be at least 20 percent below the lowest list price for the physical book. So, in essence, your e-book on the Kindle must be the most attractive of all options on the market in order to get the bigger payout.

Competition (e.g. imminent Apple tablet) is always good for the consumer by offering more choices at lower prices, but how can it have unintended benefits to the environment? The new Amazon royalty program likely will bring more green to authors and can also bring more green to the environment by saving trees (hopefully the competitive pricing of eBooks equate to less printed books)! Do your part and go get yourself a Amazon Kindle and save the planet!