California bill will require a third of all energy be renewable by 2020

Posted by Margaret on Apr 12, 2011 in Clean Energy, Green Energy | 2 comments

(Reposted from BusinessGreen) California governor Jerry Brown is expected to sign legislation today requiring energy firms in California to generate 33 per cent of their energy from renewable sources by 2020, delivering one of the most ambitious renewable energy standards in the world.

The bill, which was approved late last month by the State Assembly, will be signed at an official ceremony at a solar manufacturing plant in the San Francisco Bay area.

Energy Secretary Steven Chu, who is currently developing plans for a similar national Clean Energy Standard, is scheduled to attend the ceremony and is expected to call on other states to adopt similarly ambitious legislation.

Previous governor Arnold Schwarzenegger signed an executive order in September 2009 establishing the target, but the new bill solidifies the standard and ensures that future governors will not be able to suspend the target.

It will also again underline California’s position as the leading clean technology hub in the US and, when coupled with the state’s planned emissions trading scheme, will crank up pressure on companies to embrace green technologies and business models.

California currently generates almost 20 per cent of its power fromrenewable sources, largely thanks to its use of hydroelectric plants. However, the new target is expected to provide regulatory certainty for clean tech investment and drive the rapid rollout of new renewable energy projects.

Read More from Newsday

Read  more from Business Green

About GreenPoint Partners:

GreenPoint helps companies profit from energy efficiency and renewable energy.

We identify, simplify, and execute initiatives to take action against rising energy costs, improve cash flow, and demonstrate environmental leadership.
GreenPoint delivers pragmatic and unbiased advisory services from a team of partners with a breadth of energy, real estate, engineering, finance, and legal experience.