California Dreaming about Renewable Energy

The signing of SB X1 2 is good news for renewable energy developers. The previous RPS, which required a 20% renewable portfolio by 2010, has proven to be a powerful driver of investment in renewable energy. Since 2003, the RPS has led to the development of 45 new renewable energy projects and 1,702 MW of new capacity. During that time, the CPUC has approved 181 contracts for about 14,000 MW of new and existing eligible renewable energy capacity.

A quick overview from Morrison & Foerster on new Renewable Portfolio Standards is here: Renewable Portfolio Standard – Mo Fo – 25 Apr 11