Climate change will carry a price tag of billions of dollars for a number of U.S. states, says a new series of reports from University of Maryland on Wednesday.

Combining existing data with new analysis, the researchers studied eight states in U.S. and projected the long term economic impact of climate change on them.

For example, the study said that in Colorado, there will be more than 1 billion U.S. dollars in losses due to impacts on tourism, forestry, water resources and human health from a predicted drier, warmer climate.

Illinois will suffer billions of dollars in losses from impact on shipping, trade and water resources. Warmer temperatures and lower water levels predicted for much of the state.

The researchers conclude that the costs have already begun to accrue and are likely to endure.

"We don't have a crystal ball and can't predict specific bottom lines, but the trend is very clear for these eight states and the nation as a whole: climate change will cost billions in the long run and the bottom line will be red," says Matthias Ruth, who coordinated the research. "Inaction or delayed action will make the ink run redder."

Last year, Ruth conducted a similar nationwide analysis and concluded that the total economic cost of climate change in U.S. will be major and affect all regions, though the cost remains uncounted, unplanned for and largely hidden in public debate.

"These new state snapshots can help underscore the extent of damage already experienced in various parts of the country," Ruth adds. "We hope the data and the trends can help state and local policy-makers plan for additional changes ahead."