California Raises Renewable Energy Requirements
California lawmakers passed a bill Tuesday that would require a third of the state’s power to come from renewable energy sources by 2020, setting a new bar for the rest of the country.
The U.S.‘s largest energy consumer is increasing its renewable portfolio standards and continues to pursue a cap-and-trade program that would put a price on carbon after similar initiatives to do so in Congress have flatlined.
California is typically seen as a trendsetter when it comes to setting environmental regulations aimed at slashing harmful emissions. The new law would make it the most aggressive adopter of renewable energy in terms of the amount of new generation that will be needed, which will draw investment dollars and create jobs through wind, solar, geothermal and other alternative projects.
The legislation “sends a signal to renewable energy providers that California wants them here,” State State Sen. Joe Simitian, who authored the bill, said in a statement. “They will respond, as they have in the past, with billions of dollars in investments that will provide jobs and tax revenues.”
View the full story (The Wall Street Journal)