• 4 minutes Will We Ever See 100$+ OIL?
  • 8 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 11 minutes Energy Outlook for Renewables. Pie in the sky or real?
  • 36 mins Shale Oil will it self destruct?
  • 5 hours NYT: Mass Immigration Roundups in U.S. to Start Sunday
  • 1 hour U.S. Administration Moves To End Asylum Protections For Central Americans
  • 8 hours South Korea imports No Oil From Iran in June - First-Half Imports Fall 37%
  • 7 hours U.S.- Taiwan: China Says Will Freeze Out U.S. Companies That Sell Arms To Taiwan
  • 3 mins White House insider who predicted Iran False Flag, David Goldberg found dead in his New York apartment
  • 1 day Panama revoked registrations of tankers flying under their flag that have not complied with sanctions. Most are Iranian tankers. Vessel seized in Gibraltar, Grace I, flying under Panamanian Flag. Registration revoked in May. England seizing justified
  • 18 hours Starlink Internet Courtesy of Tesla
  • 18 hours Rising air pollution and green house effect
  • 22 hours Oil Price Could Fall To $30 If Global Deal Not Extended
  • 1 day Is This The End of BBQ?
  • 17 hours U.S. Economic Expansion: Rich Get Richer
  • 1 hour Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
Alt Text

Why The Clean Energy Revolution Isn’t Taking Off In Russia

Russia, the world’s second largest…

Alt Text

Who Is The Greenest 2020 Presidential Candidate?

With the 2020 electoral campaign…

Alt Text

$4.5-Trillion: The Price Tag of A Fossil Fuel-Free U.S.

Decarbonizing the U.S. grid and…

Charlotte Dudley

Charlotte Dudley

Charlotte is a writer for Environmental Finance.Environmental Finance is the leading global publication covering the ever-increasing impact of environmental issues on the lending, insurance, investment…

More Info

Premium Content

California’s Aggressive Renewables Target

Californian utilities can meet an aggressive 33% renewable target – so long as issues over grid capacity and regulation are clarified.

The Californian Air Resources Board (CARB) approved a proposal last week to raise the target for electricity generated from renewable sources to one third by 2020, representing a significant jump from the state’s previous 20% target by 2010 and the proposed national target of 15% by 2021.

CARB said the proposal stands to cut greenhouse gas emissions in California by up to 13 million tonnes annually.

Under the proposal, targets will be set at phased compliance intervals, starting with a 20% renewables electricity generation commitment between 2012 and 2014, rising incrementally to 33% by 2020.

Josh Margolis, San Francisco-based CEO of brokerage CantorCO2e, said most utilities recognise the need to prepare for a low-carbon economy and are broadly supportive of the renewables objective. However he said their ability to hit the target will depend on regulations in relation to out-of-state energy purchasing and a ramp up of grid capacity.

“It’s an aggressive target and one that will cause the utilities to stretch in order to meet it,” he said.

He added that utilities will need to show a greater commitment toward developing or purchasing renewables if they are to meet the target, adding that out of state purchases of renewable energy should be allowed.

By. Charlotte Dudley

Source: Environmental Finance




Download The Free Oilprice App Today

Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play