California Raises Bar on Renewable Energy Mandate
The California Assembly this week approved legislation requiring the state’s utilities to generate 33 percent of their power from renewable sources by 2020, a requirement that sets a sizzling pace for the rest of the country and is expected to attract renewed investment by providers of wind, solar, geothermal and other alternative energy sources.
Gov. Jerry Brown (D) is expected to sign the measure, which raises the state’s renewable portfolio standard from the existing 20 percent requirement, into law, reports the Los Angeles Times.
Renewable portfolio standards are a key factor affecting the pace at which the nation’s utilities shift to alternative energy sources. Investment in renewable energy production has slowed in recent years as a result of the recession, a situation that could reverse as states increase their portfolio standards.
Separately, President Obama in a speech Wednesday reiterated his proposal that the nation adopt a standard requiring 80 percent of electricity to come from clean energy — including natural gas, nuclear power and clean coal, as well as renewable sources — by 2035.