In its initial phase, utilities and other energy suppliers will be required to procure and phase in new renewable power resources starting with 26.31 percent of the state's total electricity load in 2017 and grow to 30.54 percent of the statewide total in 2021.
The Clean Energy Standard will cost less than a month to the average residential customer’s bill.
By 2030, the 50 percent renewable mandate will be a critical component in reducing greenhouse gas emissions by 40 percent (from 1990 levels) and by 80 percent by 2050.
The Clean Energy Standard will be enforced by requiring utilities and other energy suppliers to obtain a targeted number of Renewable Energy Credits each year.
To be on the wrong side of an investment tax implication is a worry that can erode the […] read more Due diligence is an ever growing requirement for many investors, making hedge fund administration a critical aspect of growing capital.Executive Summary Motivated by a desire to reduce carbon emissions, and in the absence of federal action to do so, 29 states (and the District of Columbia and Puerto Rico) have required utility companies to deliver specified minimum amounts of electricity from "renewable" sources, including wind and solar power.California recently adopted the most stringent of these so-called renewable portfolio standards (RPS), requiring 33 percent of its electricity to be renewable by 2020.Put another way, the higher cost of electricity is essentially a de facto carbon-reduction tax, one that is putting a strain on a struggling economy and is falling most heavily, in the way that regressive taxes do, on the least well-off among residential users.To be sure, the mandates aren't the only reason that electricity costs are risingâ€”increased regulation of coal-fired power plants is also a major factorâ€”and it is difficult to isolate the cost of the renewable mandates without rigorous cost-benefit analysis by the states.